internet task — securities & exchange commission

Project Description:

using your revenue recognition expertise, evaluate and summarize revenue recognition problems cited by the securities & exchange commission (sec) for an actual corporation. you may select the corporation.

procedure

review the assigned readings and module content.
visit the sec's website and identify a company that has been recently cited for revenue recognition problems. complete internet task 10-34 in your text.
present your work as a memo including any possible support for the revenue recognition problems (e.g., cite what the organization should have done, and what concepts and/or principles were compromised) to support your summary. include the url to the corporation's financial statements, and the url to where you found the sec's citation of the corporation's revenue recognition issues. your memo should be well-written and cite any quoted, paraphrased, or summarized material if used.

relevant accounting and auditing pronouncements

the relevant accounting and auditing pronouncements for assigned chapters can be found in the student edition of the companion website. further study of these pronouncements can be found at aicpa auditing standards and pcaob auditing standards.
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