Unearned revenue is a liability because it represents a company’s obligation to deliver goods or services in the future.

Under an accrual accounting system, the recognition of revenue is independent ... then the payment has been received before it has been earned, and it is unearned revenue. The cash receipt form should ...

Accrual accounting principles dictate that income ... He continues, “Higher unearned revenues traditionally indicate contractually guaranteed revenue flows with low variability.

Identifying what qualifies as revenue is critical not only from an accounting and financial reporting or audit standpoint, but also to ensure that the university is in full compliance with the TABOR ...