Principal versus agent
In accounting, principal versus agent means whether the entity controls a good or service before it passes to the customer — a principal reports revenue gross, an agent reports only its fee or commission net.
- Layer
- Lexicon
- Defined in
- Lexicon
- Nearby
- 4
Authority
This definition follows ASC 606-10-55-36.
Every citation in this system, with the text we read and the date we checked it, is in US GAAP and where these rules come from.
What it is not called
Each of these is a real word for a different thing. Using it here is what makes a product read as though it was built by someone who has not done the work.
- gross-up
Nearby in the catalog
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Terms this one depends on
Also in Revenue recognition
Defined in Lexicon. This page is generated from that document, so the two cannot disagree.