Revenue recognition for seminar, please refer to details of my questions below. TQ

My company is organising a seminar in January 2013 but some fees related to this seminar has been received in Dec 2012. My financial year closed at 31 Dec. Should this receipt be recognised as income in Dec 2012 or Jan 2013? and how about the expenditure already incurred for this seminar which has been paid in Dec 2012. Should that also be charged to the Income Statement in Dec 2012 (matching with receipt if that is correct) or should it be charged out in Jan 2013. Thank you for your assistance.
Anonymous User
Anonymous User
Asked Jan 07, 2013
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Answered Feb 18, 2016

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