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https://www.dummies.com/business/operations-management/point-of-saledelivery-revenue/
Point-of-sale/delivery is just another way of saying that the company records revenue when it’s earned and realizable. Here are two examples of this: one involving a retail store and the other taking place in a service provider type of business: Retail store: You desperately need a new microwave,...
https://strategiccfo.com/point-of-sale-pos-method/
Jul 24, 2013 · The Point of Sale (POS) Method also known as the Revenue Method or Sales Method is one of the many methods under the Revenue Principle of Accounting. This method records the revenue at the point of sale because cash is received on site or it is reasonably certain that cash will be received soon and is thus a finalized transaction.
https://www.accountingtools.com/articles/2017/5/10/fob-shipping-point
Jan 24, 2019 · The term means that the buyer takes delivery of goods being shipped to it by a supplier once the goods leave the supplier's shipping dock. Since the buyer takes ownership at the point of departure from the supplier's shipping dock, the supplier should record a sale at that point.
https://www.myaccountingcourse.com/accounting-dictionary/fob-shipping-point
As soon as the seller brings the goods to the point of shipment, the legal title of those goods passes to the buyer and the seller is no longer responsible for the goods during delivery. If the carrier damages the package, the buyer can’t come after the seller because the title has already transferred.
https://courses.lumenlearning.com/boundless-accounting/chapter/revenue-recognition/
Recognition of Revenue at Point of Sale or Delivery Companies can recognize revenue at point of sale if it is also the date of delivery or if the buyer takes immediate ownership of the goods.
https://www.accountingcoach.com/terms/F/fob-shipping-point
FOB shipping point definition Terms indicating that the buyer must pay to get the goods delivered. (The buyer will record freight-in and the seller will not have any delivery expense.) With terms of FOB shipping point the title to the goods usually passes to the buyer at the shipping point.
http://simplestudies.com/what-are-fob-shipping-terms.html
Dec 13, 2009 · The customer usually pays for transportation and insurance when the shipping terms are FOB shipping point; the customer includes such expenditures in the cost of inventory purchased because they are considered product costs (transportation-in or freight-in costs).
https://www.accountingweb.co.uk/any-answers/revenue-recognition-shipment-of-goods
Up to now, we have always recognized revenue at the point of invoicing & despatch. However, our US masters have told me that US GAAP requires revenue recognition at the point where the risk & title passes to the buyer (which means when the goods arrive).
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