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  "documentTitle": "A.O. Smith Corporation (AOS)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2019-05-16 00:00:00",
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      "text": "A change in revenue recognition disclosures ahead of China issues surfacing, and the departure of the CFO, caught our attention. The disclosure of “allowance for doubtful accounts” has us concerned, along with the unusual practice of customers pre-paying for products and keeping a deposit with AOS. This opens the potential that AOS aggressively recognized revenues.",
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      "text": "New Disclosures First Made May 2018 (10-Q):",
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      "text": "Substantially all of the Company’s sales are from contracts with customers for the purchase of its products... The Company’s allowance for doubtful accounts was $6.4 million and $5.3 million at December 31, 2018 and December 31, 2017, respectively.",
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      "text": "Revenue recognition. The Company recognizes revenue upon transfer of title... The allowance for doubtful accounts was $5.3 million and $6.3 million at December 31, 2017 and 2016, respectively.",
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      "text": "Recent Change In Revenue Recognition A Classic Red Flag",
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