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General Accounting Discussions: When is it possible to recognize revenue prior to delivery but immediately upon production ?

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    • CommentAuthornya
    • CommentTimeJul 26th 2007
     
    I cant seem to get the correct answer for this
    • CommentAuthorCounter
    • CommentTimeAug 1st 2007
     
    I believe it occurs in a few industries where the sale is almost assured and the production is the majority of the effort. Gold mining is an example. Apparently there is no problem selling gold at the widely quoted market price. The majority of the effort is finding the gold and extracting it. (Most manufacturers can easily produce goods, but the majority of the effort is getting the goods sold. Therefore, the majority of manufacturers are required to sell the items produced before they can record the revenue.)

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