Revenue Recognition Form groups of three to six students. Each student should pick one of the six industries listed as follows. The Standard Industrial Classification (SIC) number is provided for each industry. This number may be helpful in locating companies in that industry, especially if using search routines in electronic media. Members of each group should learn as much as possible about the revenue recognition issues in their industry. Select at least two companies in the industry, and examine the description of each company's revenue recognition policies in the footnotes (usually in footnote 1 or 2) to the financial statements. Two possible companies are listed for each industry, but do not feel restricted to using the companies listed.

After the individual research on a particular industry, get together as a team and report on what each member has learned. Compare and contrast the issues relating to when revenue is earned and real- ized in each industry. Discuss why issues that are important in one industry are unimportant in another. 2721-Periodicals Publishing and Printing Marvel Entertainment Group Readers Digest Association 4512 Air Transportation, Scheduled Alaska Air Group Southwest Airlines Company 4911-Electric Services Duke Power Puget Sound Energy 6311-Life Insurance Allstate Corporation USLIFE, Incorporated 7811-Motion Picture, Videotape Production Dick Clark Productions Walt Disney Company 8062-General Medical and Surgical Hospitals Columbia/MCA Healthcare Regency Health Services Analyzing and Interpreting Financial Statements