1) Discuss GAAP vs. non-GAAP numbers and their impact on financial statements. In particular, how the balance sheet, income statement, and statement of cash flows may differ under these two alternative accounting methods?

2) Does it matter if the revenue recognition rule for smartphone changes? That is, what would happen if the FASB adopted Apple's non-GAAP revenue recognition method for iPhone and made it become GAAP?

 

Answer rating: 100% (QA)

GAAP vs nonGAAP numbers GAAP Generally Accepted Accounting Principles and nonGAAP are two different approaches used to report financial information GAAP is a set of rules and guidelines that publicly ... View the full answer