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Accounting for Gift Cards - a case for intervention by SEC for revenue recognition disclosures

November 30, 2007

Analysis of:Accounting for Gift Cards | www.aicpa.org

- Recognition of relevant costs at the time of Gift Cards sales - Deferment of corresponding revenue until redemption - Gross Margin are distorted - Uneven sales values in different periods when eventually breakages are recognized with no specific coherent revenue recognition policy

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