a. What do you think Chetwynd’s objectives of accounting might be? Explain.
b. How would you rank the objectives? Explain.
c. What different revenue recognition methods could Chetwynd consider for the warehouse project? How much revenue would be recognized in 2017, 2018, and 2019 under the different methods you identified? Show your work.
d. When would you recommend that revenue be recognized on the renovation project? Explain your recommendation. Make sure that you consider the constraints, facts, and objectives in your answer.