A New Era in Revenue Recognition: Genera...
Haskins, Mark E., ...
A New Era in Revenue Recognition: General Dynamics and Ford
Haskins, Mark E.; Lynch, Luann J.
C-2414 | Published September 5, 2018 | 33 pages Case
Collection: Darden School of Business
Product Details
What had started out as an easy perusal of two recently issued 2017 corporate annual reports had morphed into a task of sleuthing when the reader had come across what some experts referred to as "the most historic accounting change to hit US capital markets in decades." It appeared that the issue of when a sale was a sale for financial reporting purposes was not simple. Among a handful of early adopters of a new revenue recognition mandate for calendar year 2017 annual reports, beginning of the year retained earnings for Ford Motor Company (Ford) was adjusted $36 million higher while General Dynamic's was adjusted down by $301 million, both a result of their early adoption of the new revenue recognition guidelines.
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