David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning.

Learn what an onerous contract is, regulations for reporting them, and examples. Explore how IFRS and GAAP differ in handling these unfavorable contracts.

Now that the various classifications of revenue have been defined, it is important to identify what is revenue. Identifying what qualifies as revenue is critical not only from an accounting and ...