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Revenue Recognition on Salesforce Winter 2018 Administrator Guide12/05/2018Table of Contents Getting Started..................................................................................................................................................

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How to fill out key revenue recognition reporting

01

Understand the key principles of revenue recognition as per accounting standards.

02

Gather all relevant documentation related to the revenue transactions.

03

Identify the performance obligations in the contracts with customers.

04

Allocate the transaction price to the performance obligations based on relative standalone selling prices.

05

Recognize revenue as the performance obligations are satisfied.

06

Prepare and disclose the key revenue recognition information in financial reports.

Who needs key revenue recognition reporting?

01

Businesses that provide goods or services to customers and need to comply with accounting standards.

02

Investors and stakeholders who rely on accurate and transparent financial information to make informed decisions.

03

Regulatory bodies and authorities that require businesses to report revenue recognition in a standardized manner.

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What is key revenue recognition reporting?

Key revenue recognition reporting is a financial process that involves recognizing revenue from the sale of goods or services in a company's financial statements.

Who is required to file key revenue recognition reporting?

Companies that follow Generally Accepted Accounting Principles (GAAP) are required to file key revenue recognition reporting.

How to fill out key revenue recognition reporting?

Key revenue recognition reporting can be filled out by gathering information on revenue earned from sales and other sources, and following the guidelines set by accounting standards.

What is the purpose of key revenue recognition reporting?

The purpose of key revenue recognition reporting is to accurately reflect the revenue earned by a company during a specific period.

What information must be reported on key revenue recognition reporting?

Key revenue recognition reporting must include details on the amount of revenue earned, the timing of when revenue was recognized, and any adjustments made for discounts or returns.

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