Apple Company
Acc 499 assignment
All work must be 100% original and include references. No cover page needed. Both bullets must be answered.
9-2
“Apple, Inc.” Please respond to the following:
From the case study, in 2009, the FASB issued a ruling related to income recognition from multiple element sales involving software to various stakeholder groups. Evaluate the impact of Apple’s retrospective restatement of its financial statements resulting from FASB’s ruling. Provide support for your rationale.
From the case study, examine the influence of both Apple’s reported deferred revenue and the lobbying by Apple executives on FASB’s ruling. Indicate your agreement or disagreement with Apple’s attempt to influence FASB’s ruling.
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FASB ruling instructed Apple Company to adopt a new accounting standard. The effect was to take place no later than the first quarter of fiscal 2011. The company had no other reason but to adopt the new standards even if they were going to affect the operation and their historical reports. The whole process of adoption took more time, and so this made apple to slow down in most of their activities as the systems were being reconciled………………….
APA
521 words