Access the financial statements for EADS N .V. for its year ended December 31, 2011, from the
Question:
Instructions
Answer the following questions with respect to EADS N.V.
(a) What business is EADS in?
(b) Explain how the revenue related to the construction contracts is recorded. How does the company determine when revenue should be recognized on these contracts?
(c) How does the company treat probable losses on existing contracts?
(d) What are the balance sheet amounts related to this revenue recognition? What was the aggregated amount of costs and profits recognized to date? What was the gross amount due to customers and due from customers at December 31, 2011? What do these amounts represent?
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Step by Step Answer:
a As discussed in note 1 EADS is in the business of manufacturing commercial aircraft civil and military helicopters commercial space launch vehicles ...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
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