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What is the revenue recognition principle?

As part of my business series on the blog, here is an info-graphic covering revenue recognition. As some of you know, revenue recognition has a special place in my heart as I audited revenue for a software company in the bay area.  I had to know these principles like that back of my hand. If you are hoping to run a business with investors, you may want to know some of this too. Without further adieu, the info graphic and intro by Ghergich & Co.

When it comes to plotting out your next steps as a business, there are a lot of factors that come into play. Of course, you need to understand expenses and employees and demand and customers, but you also need to figure out what to do about revenue — and by that I mean, what do you do about recognizing revenue.

There are a number of different established accounting principles that are acceptable and that can guide you in figuring out what’s best for your business. For example, you can recognize the revenue after you have completed the obligat…

Frugal podcasting app


UPDATE:

Opportunities come and go and it looks like Podcoin and Readercoin are now defunct. You have to move fast in life to take advantage of opportunities like this and it looks like it is over. The rest of this post should still be accurate.



Podcasts are great! Need to do some tedious task? Make it interesting and listen to a podcast while you do it. Commute to work? Put on a podcast. Is it pledge week on public radio? Podcast it up!

Podcast apps are free, aren’t they? What makes one more frugal than another? Well, let's get into that.

But first, speaking of Frugality and podcasts, make sure to subscribe to my podcast, the frug life. It was added to some more platforms, so check it out.


So my prefered podcasting app right now is podcast addict (which you can also find my podcast on). It has many features and lots of customization options. So with that in mind, is isn’t all that beginner friendly. You have to set it up to do exactly what you want, and even then in still has some quirks.

For me, the biggest and most important feature is that it automatically downloads podcast episodes for me while I am on wifi. Then I can listen to them when I don’t have wifi. The app will just do this on its own and takes no effort on my part. In the olden days, I would manually download podcast episodes one by one (on my computer), put them on an SD card, and put the SD card in my phone. This new system is much better.

On this app, you can change the storage location to an SD card. I have generally had pretty small phones storage-wise, so the option to store data on an SD card is always a plus. This is probably why it took me so long to use a podcasting app in the first place. My phone had a built in audio player, and my phone itself had no storage space. I relied almost fully on an SD card. But with the option to customize where the podcasts are stored, it’s not an issue.

How I set up the app is to have it download and keep up to 5 episodes of a podcast, and download the most recent episodes. I also have it delete played episodes, and a few other tweaks here and there. It really is the king of customization.

There are lots of other podcast options. Google podcasts is a relatively new one. When I tried it, it just didn’t have all the options I was used to. Another interesting new podcast app is podcoin, a podcasting app that pays you to listen to podcasts! So I’m trying it out now, but you can use this link to sign up and get some free podcoins! You can use them to buy Amazon gift cards or other rewards.
Podcoin also has a sister app, readercoin, which pays you a little to read. It’s the same currency for both apps, and you share an account on both. I think it is also worth checking out. Actually because of readercoin, I’m playing with my next idea, writing a work of fiction. Let's see how that pans out.



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