1. Explain how Apples revenue recognition accounting for

1. Explain how Apple’s revenue recognition accounting for iPhone under non-GAAP is different from under GAAP. Which set of numbers best reflects the economics of the iPhone (i.e., GAAP vs. Non-GAAP)? 2. Explain how Apple’s proposed accounting would affect the balance sheet (as of September 27, 2008)? Restate Apple’s balance sheet (as of September 27, 2008) according to the Apple’s proposed accounting as best as you can.3. Explain how Apple’s proposed accounting would affect the income statement (Fiscal Year Ended September 27, 2008)? Restate Apple’s income statement (Fiscal Year Ended September 27, 2008) according to the Apple’s proposed accounting as best as you can.4. Explain how Apple’s proposed accounting would affect the statement of cash flows (Fiscal Year Ended September 27, 2008)?


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