case assignment (Graded A+) - use as a guide only - 22810

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Case Assignment:


There are three main parts to this case that requires you to prepare and 
submit a three to five page paper. Please make sure this paper is well organized 
and covers all of the items below.


Part I.



  • Why is revenue recognition a significant issue? How do we determine when 
    revenues are recorded for accounting purposes?
  • Explain the difference between a product and period expense.
  • Discuss the matching concept as it relates to accounting for revenues and 




Part II.  Refer to the latest annual financial statements for the two 
following companies: Apple: and Philips: 
Generally, this information is found in the Investor Relations area of the 


Clearly identify the companies, the time period, and include the link to the 
financial statements you are analyzing in your report.



  • What accounting conventions do the two companies follow, US GAAP or IFRS?
  • Locate the income statement for the past two years for both companies. 
    Prepare a table comparing five items or more from each statement.
  • Comment on the changes from one year to another. Is the company doing better 
    or worse? Did revenues and expenses increase or decrease?
  • Is it easy to discern trends or compare the information from year to year 
    and between the two companies? Please, comments on both aspects and show some 




Modular Case Assignment Expectations:


The submission should be 900 words and need to include answers to all the 
questions listed above. Show computations, discuss the results and include 
references in APA format.

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