Review the revenue recognition footnotes from GE and Disney (for Disney you are presented two different years. The first one presented is the latest, 2016. The second one, at the bottom of the page, is from 2005.)
Submit a paper providing the following: For the Sears Company, provide a brief detail of the one-time charges included in the income statement. What do these charges inform the reader regarding the ongoing survival of the company? Since sale of assets are included in all four of the most recent year financial statements what does this inform the reader? For the GE revenue recognition footnote. Can you decipher what this company is attempting to explain to the readers of the financial statements? For the Disney revenue recognition footnote compare the two different footnotes presented and explain the difference between the two and your opinion on why this footnote has changed so significantly in the last 10 years.
Sample Solution