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Youre a young associate at a Big Four accounting firm, and you work on a broker-dealer called Eddy Jones. When a customer calls in to
Youre a young associate at a Big Four accounting firm, and you work on a broker-dealer called Eddy Jones. When a customer calls in to make a trade, Eddy Jones earns a commission by executing the trade. The broker dealer currently records revenue on the settlement date (i.e. when the securities is delivered to the customers account), but you suspect it should be recorded on the trade date (i.e. on the date the broker executes the trade). What guidance would support your position?
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