Essay Available:
page:
1 pages/≈275 words
Sources:
1
Style:
APA
Subject:
Accounting, Finance, SPSS
Type:
Coursework
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 5.62
Topic:
Revenue Recognition in Tesla, Inc.
Coursework Instructions:
D. Review your company’s revenue recognition note in the notes to the financial statements. Explain the details of the revenue recognition policies and procedures based on the disclosures found in the financial statements. How does this information help the user of the financial statements understand when and why revenue is recognized? How does each company comply with the rules as provided in the FASB Codification?
This is a continuation of a paper we did a couple weeks ago--- I have attached the 1st paper-- It has to be on "Tesla" "car manufacturer"
Coursework Sample Content Preview:
REVENUE RECOGNITION
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Revenue Recognition
Revenue recognition is done by checking whether the delivery of service or product promised and the amount of consideration expected have a match. According to Tesla company 2018 financial statements, the company recognizes its automotive sales revenue when control is transferred upon delivery to the customer, Tesla, Inc, (2018). Secondly, as a way of increasing sales Tesla company implies the lease accounting method, which gives a customer the option to make payment in the installment as agreed in the sales contract. Under this method of accounting, leasing automotive revenues for the company, therefore, can be recognized when the car is shipped as a sale with the right of return. Finally, solar energy systems, energy storage products, services provided, and sales of used vehicles revenue is recognized in advance when the product is delivered to the customer Tesla, Inc, (2018).
Remarkably revenue recognition s...
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