Amazon com Inc , the e commerce giant, entered into long term contracts with several vendors for the supply of goods In the fiscal year ending December 31, 2023, Amazon recognized revenue totaling $50,000,000 from these contracts Dive into the intricacies of revenue recognition Examine the criteria under ASC 606 for revenue recognition and assess Amazon's compliance with these standards Investigate the impact of contract modifications, variable consideration, and performance obligations on Amazon's revenue recognition policies Analyze the disclosure requirements under ASC 606 and evaluate Amazon's adherence to these guidelines in its financial statements

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Question: Amazon.com Inc., the e-commerce giant, entered into long-term contracts with several vendors for the supply of goods. In the fiscal year ending December 31, 2023,

Amazon.com Inc., the e-commerce giant, entered into long-term contracts with several vendors for the supply of goods. In the fiscal year ending December 31, 2023, Amazon recognized revenue totaling $50,000,000 from these contracts. Dive into the intricacies of revenue recognition:

Examine the criteria under ASC 606 for revenue recognition and assess Amazon's compliance with these standards.
Investigate the impact of contract modifications, variable consideration, and performance obligations on Amazon's revenue recognition policies.
Analyze the disclosure requirements under ASC 606 and evaluate Amazon's adherence to these guidelines in its financial statements.

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