Critique the revenue recognition method

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Reference no: EM131522639

Question: (Timing of revenue recognition] Halting -Meyers Company is one of the ingest fermium retailers in the United States. Until March 1. 2000, like other major retailers, Halting -Meyers recognized revenue upon determination of the availability of merchandise, establishment of delivery date and (when applicable) approval of customer reedit.

a. Critique the revenue recognition method used by /Seam-Meyers Company, Your response should include an evaluation of whether the method conforms to U.S GAMS

b. Effective March I. 2000, the company (and other 1.., S.. retailers) changed its revenue recognition to record merchandise sales upon delivers Describe the effects of the change in accounting menial oil the company's income statement balance sheet and statement of cash flows.

c. Concurrent with the change to accounting method. Halting - Meyers stand that it would continue Co report moodily sales based on orders written rather than on orders delivered. Dn. MISS the advamagea and disadvantages from tor: analyst per part: live of reporting monthly orders rather recognized sale;

Reference no: EM131522639

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