<Ol> <Li> Risks and rewards have been transferred from the seller to the buyer </Li> <Li> The seller has no control over the goods sold </Li> <Li> Collection of payment is reasonably assured </Li> <Li> The amount of revenue can be reasonably measured </Li> <Li> Costs of earning the revenue can be reasonably measured </Li> </Ol> <Li> Risks and rewards have been transferred from the seller to the buyer </Li> <Li> The seller has no control over the goods sold </Li> <Li> Collection of payment is reasonably assured </Li>

When do you recognize revenue in accrual accounting