Revenue Recognition Outline for Revenue Recognition Understanding the concept of the Operating Cycle Return Privileges: Concepts - When to Defer Revenue Return Privileges: Application of Concepts Uncollectible Accounts: Concepts and Approaches Uncollectible Accounts: Example - Applying the Allowance Method Completed - Contract Method: Application of Approach Long-Term Construction-Type Contracts: Reporting Anticipated Contract Losses Revenue Recognition: During Production versus at Completion Production,    Introductory Comments: The Analogy to Economics Percentage of Completion: Application of Approach Percentage of Completion: Concepts - When to Use the Method Sales Discounts Gross revenues are not always what they seem to be! Statement of Cash Flows -- Indirect and Direct Method Expense Recognition What interest rate are you really paying for that leased car? Would you be better off buying it? In what section of the cash flow statement will I put this transaction? Inventories Introduction to Accounting for Inventory Purchase Discounts Inventory Valuation Lower of Cost or Market (LCM) Inventory Valuation Lower of Cost or Makret (LCM) Application Inventory Valuation Dollar-Value LIFO Investments Property, Plant, and Equipment Why Use Fractions for Sum-of-the-Year Digits (SYD)? Partial Year Depreciation Using Sum-of-the-Year Digits (SYD) Intangible Assets Leases Income Taxes Earnings per Share Employee Compensation Retained Earnings