You work for Kings Gate, a publicly traded movie production company. Kings Gate plans to release Beautiful World, a childrens action movie, toward the beginning of the next period. To promote the film, Kings Gate has arranged to include promotional toys in childrens meals sold by Cluckin Hen, a national fast food chain. The CEO wants to recognize licensing fee revenue from the fast food arrangement as it is realized, explaining that he sees no reason to delay such recognition. The CFO want to delay recognition until the release of the film, reasoning that toy revenue is a byproduct of the related film, and recognition of that revenue should wait until release of the film.

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