In a conversation today with one of our former clients, I was reminded that one of the most common accounting mistakes we see our clients make is the improper recognition of revenue: they collect money upfront for services they havent yet performed, and book the income then, instead of prorating it over the duration of services. Weve covered this in our Selling Up Selling Out conference, where Im not surprised to find that 3 out of 9 have had this problem. I told him Id give him a link for more information.
Posted by William Montgomey
, Senior Vice President on 13 November 2008