The above snapshot is from F10K submitted by The Coca-Cola Company for year 2010. The extract highlights the revenue recognition policies obtained by the company. It is in accordance with the accounting standards. I can recall in Level I, I had gone through these policies. According to US GAAP:
"It specifies that revenue should be recognized when it is “realized or realizable and earned.”
1. There is evidence of an arrangement between buyer and seller.
2. The product has been delivered, or the service has been rendered.
3. The price is determined, or determinable.
4. The seller is reasonably sure of collecting money."
Since the company follows USGAAP, the snapshot is in accordance with the standards explained in Level I.