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What is the revenue recognition policy

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Reference no: EM132916324

Question 1: Imagine that you are a financial analyst for your company asked to generate a forecast of your company's net income for the future period. You know that generally the best place to start in forecasting next year's net income is this year's net income. Given this starting point, look at the items in your company's recent period financial statements and make a forecast of the next period's income.

Question 2: What was your company's comprehensive income for the recent period?

Question 3: Locate your company's note on revenue recognition. What is the revenue recognition policy? What FASB Codification is being followed?

Question 4: Did you company's revenue increase or decrease from the prior period? Identify the major reason for the increase or decrease.

Reference no: EM132916324

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