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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…

February Update


Hello readers, I am doing an interesting little experiment now. For the next month, I am going to regularly publish content on the blog. So for the next 4 weeks, expect a new post every week. As you may have seen, we had a great new guest post last week, and there are two more to come.

The podcast is moving along pretty well. As of writing, it is about to hit 2,500 listens! If you aren’t already subscribed, you should be. It is on every major podcasting app, just look up “The Frug Life”. You can also listen at anchor.fm.

Also, I have launched a new version of my book, A Real Money Book, is available for sale on Amazon for just $3! It is a phenomenal deal as it provides value that is much higher than that. The book is a personal finance book that focuses on little steps and things you can do right now to make more money. Also, as an exclusive benefit to my blog readers, if you purchase a copy of the book, you can email me (ricky@thefruglife.com) your receipt and I will email you a copy of my first book, Zero to Moon, for free!

Anyways, this post isn’t meant to be all about my book, it is also an opportunity to share what type of content you would like to see in the upcoming months. If there are any topics you would like covered, please reach out and I would be happy to look into a topic for you.

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