There are a lot of general arguments to make for the fintech market and working this into your business model. When it comes to market share and data analysis, the numbers always come out on top.
Financial Operations Hub
Accrued revenue is an asset account that could be accounts receivable to record revenue that’s earned before cash is received, under the generally accepted accounting principles (GAAP) accrual basis of accounting. GAAP accounting standards, including ASC 606 for revenue recognition in corporate finance, are based on the revenue recognition principle that defines when revenue is earned.
Cost control has importance because it lets businesses reduce costs and expenses during the year through analysis and monitoring variances at each budget control level. Managers are accountable for results. Companies that control costs well through optimization practices and cost control tools have a competitive advantage.