• I saw that Cristyn asked about booking multi year settlement dollars

    Posted by Ruth.McCambridge on May 23, 2023 at 1:29 pm

    We sue pollutors under the Clean Water Act. As a part of settlements we get payments or book a recievable up front to pay us to monitor their future compliance.for, say, the next three years. I think that our accounting should record this as deferred or unearned income on the balance sheet and recognize the revenue as it is earned each year under the compliance agreement. Pevious to me the organization booked it all when it was recieved. I would love your opinions and rationales

    Ruth.McCambridge replied 12 months ago 1 Member · 0 Replies
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