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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…

The Frug Life quick update

I have a few things I want to discuss here. One, the Frug Life newsletter is in beta, if you are interested in joining, contact me directly. The last newsletter even included a draft edition of my new book. And more prizes will surely come.

Two, I have huge news going to be released on Monday’s episode of the podcast. You absolutely must give this episode a listen.

Three, we have more guest content coming to the blog soon. Let me know what articles you like best and what topics I should cover more of.

Four, the reviews giveaway is still ongoing. Leave a review on Apple podcast or another podcast app of your choice and you will be entered to win. The drawing will be held when there are 50 reviews.

And five, attached is a 3-month income statement for the podcast. It is still a draft and may change slightly, but I think I have everything there. I may do another similar post in a month and go into a little more detail on the different expenses.


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