Hi folks,
have couple of questions regarding revenues recognition for schools.
Any input is welcome as I am trying to benchmark what is the most common practices in the industry.
The questions are the following:
1) When do schools recognize revenues from tuition fees in general?
2) In the case of a student paying one month prior the school intake is the revenue recognized
2-a) at the end of the term,
2-b) at the beginning of the new term
2-c) at the time of the payment
2-d) Other, please specify.
I think school recognize revenue from tuition after they are earned, not paid. But I curious to see if anyone here has ever came across different practice.
Thank you in advance for any comment.
Best,
Arnold
have couple of questions regarding revenues recognition for schools.
Any input is welcome as I am trying to benchmark what is the most common practices in the industry.
The questions are the following:
1) When do schools recognize revenues from tuition fees in general?
2) In the case of a student paying one month prior the school intake is the revenue recognized
2-a) at the end of the term,
2-b) at the beginning of the new term
2-c) at the time of the payment
2-d) Other, please specify.
I think school recognize revenue from tuition after they are earned, not paid. But I curious to see if anyone here has ever came across different practice.
Thank you in advance for any comment.
Best,
Arnold