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From SEC.gov, find and read Apples the financial statements and pages 50-53, notes to the financial statements for the fiscal year ended on September 25,
From SEC.gov, find and read Apples the financial statements and pages 50-53, notes to the financial statements for the fiscal year ended on September 25, 2010. Write a written report to answer the following questions.
- Refer to Apples revenue recognition footnote. In particular, when does the company recognize revenue for the following types of sales? A) iTunes songs sold online. B) Mac-branded accessories such as headphones, power adaptors in the Apple stores. What if the accessories are sold online? C) iPods sold to a third-party reseller in India.
- Refer to Apples revenue recognition footnote. Consider the sale of peripheral products obtained from other companies, such as Logitech speakers. How would Apple determine the amount to record for such speakers sold from the Apple stores? What if the speakers were drop-shipped from Logitech for an online Apple-store order?
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