From the case study, in 2009, the FASB issued a ruling related to income recognition from multiple element sales involving software to various stakeholder groups. Evaluate the impact of Apples retrospective restatement of its financial statements resulting from FASBs ruling. Provide support for your rationale.

• From the case study, examine the influence of both Apples reported deferred revenue and the lobbying by Apple executives on FASBs ruling. Indicate your agreement or disagreement with Apples attempt to influence FASBs ruling.