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Unfortunately I only managed to find the explanation for why accrued revenue (Cash Movement prior to Accounting Recognition) is a liability (buyer might cancel etc)

However, shouldn't deferred revenue (Cash Movement after Accounting Recognition) be a liability as well? The buyer could default on us and we never end up receiving the payment?

Two possible reasons that I thought of: the important factor is whether or not, ignoring risk, cashflow (goods) is to be negative (sorted into liability) or positive (assets). Again ignoring the fact either party could default

The other thing I thought of is the general accounting equation?