Accounting For Gift Cards

Gift cards accounting involves establishing a liability for the obligation to provide goods at a future date. A customer can redeem gift cards and the liability is reduced due to gift card revenue recognition. Not all gift cards are redeemed and the business needs to estimate the revenue (breakage) to be released proportionately as other gift card balances are redeemed by customers.

Accounting For Gift Cards September 25th, 2017Team
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