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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 Shaving

If you are like me, you hate shaving, or at least I used to. I would use cheap disposable razors or an electric. My electric razors would eventually break after a few years. I would never pay for a razor that needed expensive cartridges, that seems like a scam. How can just a few razors cost so much money? Well, they really shouldn’t. Instead, I recently got a safety razor. It trims way better than a cheap disposable razor, but it is just as inexpensive!

This is about 100 blades for just 10 bucks. That is just like a few traditional cartridges. So at about 10 cents a razor, I think it is a great deal, plus a much better quality of life. Being frugal isn’t about about the lowest possible price, it's about getting the best value.All this comes with just a $17 buck investment into a handle. I love mine so far.

Note, the links above are affiliate links and I do receive compensation from amazon if you use them. Regardless, I do endorse the razor handle. I have not ordered this particular refill pack yet, but the razor blades are commodities and I don’t anticipate any issues with them.


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