All work must be 100% original and include references. No cover page needed. Both bullets must be answered.
“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 Appleâ€™s retrospective restatement of its financial statements resulting from FASBâ€™s ruling. Provide support for your rationale.
- From the case study, examine the influence of both Appleâ€™s reported deferred revenue and the lobbying by Apple executives on FASBâ€™s ruling. Indicate your agreement or disagreement with Appleâ€™s attempt to influence FASBâ€™s ruling.