--%>
Assignment Help - homework help

Meaning of Bill and Hold

What is the meaning of Bill and Hold in Accounting? Briefly describe it.

E

Expert

Verified

Meaning of Bill and Hold in Accounting: As per accrual rule of revenue recognition, we add up new revenue in our total revenue whenever we send service or goods and are given but there are plenty of its exceptions. One of significant exception is bill and hold. When customer requires not his bought products at a time due to delay of its management, he demands to delay the delivery of such products. At that time company records, these sold products in his sales account. This means, such transaction will be recognize as revenue of company. Therefore, this transaction will become bill and hold in accounting. For safer side, company gets cash money from this kind of transaction that treated as normal cash sales transaction.

   Related Questions in Financial Accounting

  • Q : What is Corporate Social Responsibility

    Corporate Social Responsibility directly states that every company is responsible towards the society and the environment. So this is a duty of every company to create eco-friendly new products. In the current scenario when the fuel prices are increas

    		•
  • Q : Advantages and disadvantages of gold

    Write the advantages and disadvantages of the gold standard.

    		•
  • Q : Abatement The process of allocating the

    The process of allocating the arrears of estate assets to the distributions. Distributions from the estate proceed in a particular order starting with specific legacies, effusive legacies, general legacies, and finally residuary legacies. If legacies assets are not capable to meet the will's prov

    		•
  • Q : What is Liability Management Liability

    Liability Management: The procedure by which financial institutions balance outstanding liabilities, like deposits, CDs, and so on, with suitable liquidity reserves. Banks and other lenders employ liability management to decrease liquidity risks and u

    		•
  • Q : Article on companies decision and

    Write an article on the consequences and affects of companies decison on its profitability.

    		•
  • Q : Methods handling translation gains and

    How translation gains and losses are handled differently as per current rate method as compared to the other three methods, which is, monetary/nonmonetary method, current/noncurrent method, and the temporal method?

    		•
  • Q : Investment approach of Bill Miller

    Investment approach of Bill Miller: In comparison to both Warren Buffet and Peter Lynch, Miller is considered to be a slightly more aggressive investor.  Miller believed in playing big which meant that he used

    		•
  • Q : Define Expenditures Define Expenditures

    Define Expenditures with suitable example?

    		•
  • Q : Hedging transaction exposure and money

    Compare and discuss the hedging transaction exposure by using the forward contract vs. money market instruments. When the optional hedging approaches do creates the same result?

    		•
  • Q : Responsibility Accounting Explain the

    Explain the term Responsibility Accounting and types of responsibility centres with example?

    		•