discuss important financial reporting issues; accounting
estimations and valuations for various operating activities. For
example, they discuss in-depth implication of revenue recognition,
sales allowances, deferred revenue (unearned revenue we learned
from previous modules), foreign currency exchange fluctuations on
the revenues, and account receivables, etc. These topics have
direct impacts on our income statements, and have significant
implications for earnings management. Please discuss the main
topics and focus on how each item would affect financial reporting
in general.