Question: Access the financial statements for EADS N .V. for its year ended December 31, 2011, from the company's website (www.eads.com). Instructions Answer the following questions

Access the financial statements for EADS N .V. for its year ended December 31, 2011, from the company's website (www.eads.com).
Instructions
Answer the following questions with respect to EADS N.V.
(a) What business is EADS in?
(b) Explain how the revenue related to the construction contracts is recorded. How does the company determine when revenue should be recognized on these contracts?
(c) How does the company treat probable losses on existing contracts?
(d) What are the balance sheet amounts related to this revenue recognition? What was the aggregated amount of costs and profits recognized to date? What was the gross amount due to customers and due from customers at December 31, 2011? What do these amounts represent?

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a As discussed in note 1 EADS is in the business of manufacturing commercial aircraft civil and military helicopters commercial space launch vehicles ... View full answer

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