(Answered) Questions -1 what is your assessment of apples recent

Accounting

Questions -

1. What is your assessment of Apples recent financial performance?

2. How does Apple account for Mac computers? Explain how Apple accounts for the sale of the iPhone under U.S. GAAP? Why does it do so? What is the impact on the companys financial statements?

3. Explain how Apples would account for the iPhone according to its non-GAAP disclosures? What is the impact on the companys financial statements?

4. Which method better reflects the iPhone business model? Why?

5. Should Apple lobby for their non-GAAP numbers to be sanctioned by the accounting regulators, i.e., FASB, SEC?

6. Does it matter if the revenue recognition rule for smartphones changes?

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