Gemini Communications: A case applying revenue recognition standards

Stephanie D. Grimm and Drew Hoag

Journal of Accounting Education, 2011, vol. 29, issue 2, 174-190

Abstract: Gemini Communications (Gemini) is a case study on revenue recognition criteria. You will take on the role of an audit manager for the public accounting firm that audits Gemini. Your client, Gemini, is a US company that recently expanded operations into China through the acquisition of Apollo Man. Gemini prepares its financial statements in accordance with US Generally Accepted Accounting Principles (US GAAP) while Apollo Man prepares its financial statements in accordance with International Financial Reporting Standards (IFRS GAAP). Your assignment is to research, compare and contrast the technical criteria for revenue recognition under US GAAP, IFRS GAAP, and the proposed revenue standard. You will apply the various criteria to an Apollo Man sales transaction to determine the timing and amount of revenue Apollo Man should recognize. The case is designed to develop your research and written communication skills.

Keywords: IFRS; Revenue recognition; IAS 18 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:joaced:v:29:y:2011:i:2:p:174-190

DOI: 10.1016/j.jaccedu.2012.02.001

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