ACCT 3222 Final Exam Study Guide with complete solutions | Latest 2024/2025
ACCT 3222 Final Exam Study Guide with complete solutions. Revenue ️ inflows of assets from delivery or producing goods or rendering services - realized and earned Realized ️ product/service is exchanged for cash/promise/other asset Earned ️ products have been delivered or services provided Criteria for Revenue ️ - evidence - delivered/rendered - price fixed and determinable - assured collectability Fraud Risk - Revenue ️ - Alter Terms - Channel Stuffing - Related-Parties - Bill/Hold Sales Trans and Accts - Revenue ️ 1. Sales = AR, Sales, AFDA, BDE 2. Cash Receipts = Cash, AR, Discounts 3. Returns = SR&A, AR Documents and Records - Revenue ️ - Customer SO - Credit Approval Form - Open-Order Report - Shipping Doc - Sales Invoice - Sales Journal - Customer Stmt - AR subsidiary Ledger - Aged TB of AR - Remittance Advice - Cash Receipts Journal - Credit Memo - Write-off Authorization
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acct 3222 final exam study guide with complete sol
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