To: Precilla Huang
From: Taras Shyp
Date: September 27, 2019
Subject: Peer-Review of the definition of “Deferred Revenue”
Dear Precilla,
I have just reviewed your three definitions of deferred revenue. After reading your explanation of this term I have fully understood it, despite that, I am not familiar with accounting terminology. It becomes apparently that you have a big experience and book of knowledge in accounting and financial management, as all three definitions are precisely explained.
Document design: A general organization of your definition arranged in a proficient way, but some parts of your definition are not fully elucidated, namely introduction and conclusion. The volume of information is concise, what makes easy to read and understand a new definition for laymen. Nevertheless, it would be more understandable and will underline the value of the term for laypersons if you describe main areas where the definition is used in practice (e.g., term is often used among software and insurance providers).
Examples/citation: It was really enjoyable to look at a variety of examples that you provided through showing the tables from Deferred Journal. It facilitates the deciphering of unpaid revenue and show the difference between other types of revenues. Nevertheless, it would be more intelligible, if you provide descriptions to your tables by depicting practical situations (for example, Company X hires Company B for Y service, and pays $100 in advance; at the time of payment Company B has not yearned the revenue, so it records all $100 in a deferred revenue in the Deferred Journal, as it is shown in one of your visuals). One more thing that would improve an extended definition is labeling your visuals, as it helps to understand what are you want to explain using them and underline from other structures of the document. Although, the work citation is organized due to assignment requirements, the connection with references is not shown in the text. The citation is very explanatory and checking them I found more information about Deferred Revenue. But the number of references is less then it was denoted in the instructions to the assignment. Try to support your definition by adding additional sources of reference.
Conclusion. Overall, you have demonstrated a deep competency in owing accounting terminology and explaining it to non-relative readers. The parenthetical and sentence definition are explained thoroughly and accurate. The reason for using the term of deferred revenue clarified from different views, which emphasize this term among others and aid to notice peculiarity of operating this term. The only part that I think you could elaborate is visuals. This was the only area where I had been stopped to fully understand it. You can improve this part by editing appropriate labeling to the visuals and explaining information which is included in the tables.
I hope these comments will be beneficial for you and helps your progress in definition writing. Please contact me if you have queries or want to discuss specific points more detailed. Look forward to reading your edited definition shortly.
Precilla`s original definition: https://blogs.ubc.ca/engl301-99a-2019wa/2019/09/24/what-is-deferred-revenue/
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