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Home Q & A Board Other Fields Homework Help Business Accounting
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Tomm Tomm
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6 years ago
Explain the concept of unearned revenue using your student tuition fees. How does your academic institution account for the payment of tuition in its financial statements?
Textbook 
Financial Accounting, Canadian Edition

Financial Accounting, Canadian Edition


Edition: 5th
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ACC 925

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#1
6 years ago
Your university or college collects cash from you in August or September before providing any course lectures, tutorials, etc. In other words they have collected cash before providing any services. Until this takes place your tuition is considered unearned revenue. When the course is delivered the administration can begin to recognized revenue.
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