Anyone familier milestones revenue recogination? EITF08-09?

Is that about Deferred Revenue???

For example, B company promising to fund A company $6M for new project

When Contract or agreement signed

Debit: AR

Credit: Deferred Revnue

When project finished 10%

Debit: Reveue

Credit: Deferred Revenue

I tried to google something or actual journal entry about this issue but cannot get much. If anyone of you working in a biotech company, please let me know your experience about this issue, I will appreciated.

 

Thanks a million.

所有跟帖： 

• I think it should be like this even though I do not have direct -MaxMM- ♀ (0 bytes) () 01/10/2011 postreply 14:06:25

• You have to meet some criteria before you recognize the revenue. -富婆星- ♀ (0 bytes) () 01/10/2011 postreply 14:28:04

• 回複：Anyone familier milestones revenue recogination? EITF08-09? -luckybaboo- ♂ (220 bytes) () 01/10/2011 postreply 19:28:37