sales
DefinitionTotal dollar amount collected for goods and services provided. While payment is not necessary for recognition of sales on company financial statements, there are strict accounting guidelines stating when sales can be recognized. The basic principle is that a sale can only be recognized when the transaction is already realized, or can be quite easily realized. This means that the company should have already received a payment, or the chances of receiving a payment is high. In addition, delivery of the good or service should have taken place for the sale to be recognized.
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sales is ...
... part of the Accounting subject.
... part of the Accounting subject.
Related Terms
accounts receivable turnover, account statement, advertising sales ratio, AGI, average collection period, back-end load, backlog, Black Friday, break-even analysis, break-even point and
sales appears in these other terms
sales tax, contingent deferred sales charge, sales force, cost of sales, bulk sales escrow, installment sales contract
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