The following is an excerpt from ABC News: Required: 1. Why must Microsoft report this charge of
Question:
The following is an excerpt from ABC News:
Required:
1. Why must Microsoft report this charge of over $1 billion entirely in one quarter, the last quarter of the company’s fiscal year?
2. When the announcement was made, analyst Richard Doherty stated that either a high number of Xbox 360s will fail or the company is being overly conservative in its warranty estimate. From an accounting standpoint, what will Microsoft do in the future if the estimate of future repairs is overly conservative (too high)?
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