You are hired as the Chief Accounting Officer by Marine Aircraft corporation. Your company specializes in manufacturing large-size aircrafts that take more than 1 year to build. Your company was in the process of going through the initial public offering (IPO) in the same year that the new revenue accounting standard, Accounting Standards Update (ASU) 2014-09, became effective for public companies. The Chief Financial Officer (CFO) of the company came to your office and asked to you to study the new standard and work with the Chief Operating Officer (COO) to see if the aircrafts contracts can be revised so that more contracts can be recognized revenue over time. After the CFO left, you sat down to think about the following questions. What are the differential impacts of recognizing revenue over time versus the completion of contract? Are there reporting benefits of recognizing revenue over time? What are criteria in recognizing revenue over time? What could be the potential ethical issues arising in revising aircraft sales contracts and who are the potential stakeholders?