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Revenue Recognition Chapter 4 DQ 2 WK 2 Let's also consider this question: what would be a limitation of the income statement and why is considered a limitation? "I think an income statement should contain all that's needed to form an opinion about its profitability" Tell me if you agree or disagree with that statement.

DQ 1 WK 2 What are different criteria for recognizing revenue? Why are there so many revenue recognition methods? Why are the methods subjective, and what are the implications on income statement quality?

Chapter 18 Percentage of Completion Let me throw out this question also---if a revenue recognition method were subjective do you think it could be subject to manipulation ? We are considering percentage of completion method for contracts in the text and I'd like to ask if anyone know from where the percent of completion comes from ? Who decides if a construction project is 20% complete or 50% complete? Think of what difference that
would make to revenue and post your thoughts

Regular vs Irregular on Income Statement What are the differences between regular and irregular items on an income statement? What are the requirements for items to qualify as irregular? What are some examples of irregular items? What is the effect of irregular items on an investor's analysis of a company?