Reference no: EM133004247
Problem 1: Define "revenues." Explain how revenues are different from "gains."
Problem 2: What are multiple-element contracts and why do they pose revenue recognition problems for companies?
Analysis of Apple, Inc. September 25, 2010 financial reports
Problem 3: Refer to Apple's revenue recognition footnote. IN particular, when does the company recognize revenue for the following types of sales?
iTunes songs sold online
Problem 4: Mac-branded accessories such as headphones, power adaptors, and backpacks sold in the Apple stores. What if the accessories are sold online?
iPods sold to a third-party reseller in India.
Problem 5: Refer to Apple's revenue recognition footnote. Consider the sale of peripheral products obtained from other companies, such as Logitech speakers. How would Apple determine the amount to record for such speakers sold from the Apple stores? What if the speakers were drop-shipped from Logitech for an online Apple-store order?
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Discuss how revenues are different from gains
: Refer to Apple's revenue recognition footnote. IN particular, when does the company recognize revenue for the following types of sales?
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