Business, 30.11.2019 03:31 bryan1528489

Memo 9: the general accounting office (as it was called then; now it is called the government accountability office) prepared a report which showed that during 1997 through 2001, many publicly owned companies restated their financial statements. one of the frequent causes of restatements is that companies recognize revenue which they were not entitled to recognize. a. when should an entity recognize revenue? b. does it matter if the seller warranties what was sold? if so, what is the appropriate accounting treatment? c. does it matter if what is being sold must be accepted by the purchaser? d. does it matter if the seller must provide something else (upgrades, additional products, etc.) after the original delivery? if so, what is the app

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Memo 9: the general accounting office (as it was called then; now it is called the government acco...