The installment sales method is one of several approaches used to recognize revenue under the US GAAP, specifically when revenue and expense are recognized at the time of cash collection rather than at the time of sale. Under the US GAAP, it is the principal method of revenue recognition when the recognition occurs subsequently to the sale.
Read more about Installment Sales Method: Installment Sales Method, Calculation Under The Installment Sales Method, Comparison To The Cash and Accrual Method
Famous quotes containing the words installment, sales and/or method:
“The season developed and matured. Another year’s installment of flowers, leaves, nightingales, thrushes, finches, and such ephemeral creatures, took up their positions where only a year ago others had stood in their place when these were nothing more than germs and inorganic particles. Rays from the sunrise drew forth the buds and stretched them into long stalks, lifted up sap in noiseless streams, opened petals, and sucked out scents in invisible jets and breathings.”
—Thomas Hardy (1840–1928)
“The elephant, not only the largest but the most intelligent of animals, provides us with an excellent example. It is faithful and tenderly loving to the female of its choice, mating only every third year and then for no more than five days, and so secretly as never to be seen, until, on the sixth day, it appears and goes at once to wash its whole body in the river, unwilling to return to the herd until thus purified. Such good and modest habits are an example to husband and wife.”
—St. Francis De Sales (1567–1622)
“Steady labor with the hands, which engrosses the attention also, is unquestionably the best method of removing palaver and sentimentality out of one’s style, both of speaking and writing.”
—Henry David Thoreau (1817–1862)