Chapter 12 of the materials covers the concept of revenue and I wanted to talk...
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Accounting
Chapter 12 of the materials covers the concept of revenue and I wanted to talk about gift cards. Has anyone worked at a place that offered gift cards? As you can imagine, this represents a huge liability to companies as they must wait for consumers to redeem these. We do not have gift cards at my workplace but more formal gift certificates that are printed on special paper. They are to be redeemed for specific product and as such, we can set the liability accurately. I have noticed that a large number of consumers do not redeem them. I imagine over time, they get lost
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