Revenue Recognition is Coming: Part 2
In my previous story, I wrapped up some recent coverage of non-GAAP, and some coverage of our coverage.
I also started telling you about our coverage of the new revenue recognition standard.
I’ve been coaching my colleagues on how to spot updates and interesting anecdotes about revenue recognition during the second quarter earnings season. Now we are catching up on the Qs filed and comparing disclosures after concentrating on what was said in earnings releases and calls.
Tesla still tight-lipped about impact, GM admits it could be nearly $1 billion, and Ford gets a jump on things with minimal net impact
July 28: New rule forces big car makers into big changes in how they count revenues
With slight change in SEC disclosures, Apple has pushed a big change back by a year
August4: Take-Two is 1 of 5 companies to say new accounting rules will have a material impact
Most interesting for me is when the non-GAAP and revenue recognition story collides like at Microsoft.
And Activision.
August 11: This company found a unique way to skirt SEC accounting rules
Videogame maker is only delaying the inevitable as it flouts a Securities and Exchange Commission standard for the treatment of deferred revenue
I worked with my colleague Tonya Garcia to update the retail outlook, including gift card breakage disclosures during 2Q earnings.