1. Conversion of assets, goods, or services into cash or receivables through sale. Also called actualization.
2. In accrual basis accounting, recognition of revenue upon its occurrence, when the title passes from seller to the buyer with the associated creation of an obligation to pay. In contrast, in cash based accounting revenue is recognized only when cash is received.
Use 'realization' in a Sentence
The realization that the process was a waste of time up to this point was critical because our new process is much better.
If things aren't going well you will have to come to the realization that you either need to change paths or start over.
The realization came to him all too late, the problem had already occurred and there was nothing he could do to stop it.
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