Business Finance Homework Help

The purpose of this assignment is to apply accounting revenue recognition concepts in a case study.

Read the article “Revenue Recognition Guidance and the Potential for Fraud and Abuse,” (I have attached the article)

In addition, refer to the Starbucks Financial Data – SEC Filings, Form 10-K for the most recent fiscal year and locate the note on revenue recognition in the notes to the financial statements. HERE IS THE LINK TO THIS : https://investor.starbucks.com/financial-data/sec-…

Provide a 500- to 750-word paper addressing the following items:

• Summarize the five-step revenue recognition standards as presented in Chapter 4 of the textbook. (I have attached this chapter. It is named “Chapter 4”). All 5 steps are easily readable.
• Refer to the Starbucks Form 10-K (link is above) and provide examples of how Starbucks follows the five-step revenue recognition model. (Basically using the five steps and how starbucks follows them) 
• Lastly, refer to the article “Revenue Recognition Guidance and the Potential for Fraud and Abuse” and discuss how the five-step revenue recognition model may prevent Starbucks from committing financial statement fraud. Provide examples to support your points. Note in the article that there are subheadings for “Fraud and Abuses” and “Implications of New Guidance;” these may provide some helpful ideas for this portion of the assignment.