| | 450 | | 430 | | 430 | C | | 830 | | 640 | | 640 | D | | 960 | | 1‚000 | | 960 | *Net Realizable Value = 2011 catalog selling price less estimated costs to complete and sell. (2011 catalog prices are in effect as of 12/01/10.) | PROBLEM 9-2 | | (a) 1. The balance in the Allowance to Reduce Inventory to NRV at May 31‚ 2010‚ should be $15‚200‚ as calculated in Exhibit 1 below. | Cost | | NRV | | LCNRV | Aluminum siding | $
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filling with 127‚500‚000 of Wellbutrin XL tablet. d. The revenue of each Wellbutrin XL tablet Wholesaler cost = $2.83 x = $2.096 Distributor cost = $2.096= $0.4192 e. Total revenue per truck 127‚500‚000 x $0.4192 = $ 53‚448‚000 One truck can carry $10million worth of Wellbutrin XL tablet product. Q2: How should the company recognize revenue based upon the two possible FOB structures mentioned in the case? In order to recognize revenue‚ there are four conditions must be met as according to GAAP
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Revenue Recognition: IFRS and FASB Convergence With the growth of international business there is a need to standardize financial statements globally. Presently there are “approximately 120 foreign private issuers currently that report to the Commission using IFRS financial statements.” By standardizing accounting practices investors will be able to make informed decisions based on comparability and accuracy of financial statements. The SEC released this statement in 2008‚ “We believe that
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develop both their subordinates and themselves. E.g. On-job training. A principle refers to a fundamental truth. It establishes cause and effect relationship between two or more variables under given situation. They serve as a guide to thought & actions. Therefore‚ management principles are the statements of fundamental truth based on logic which provides guidelines for managerial decision making and actions. These principles are derived: - a. On the basis of observation and analysis i.e. practical
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How SAB affects Wareham’s revenue recognition? Accordingly to SAB 101‚ all of the following conditions should be accomplished to recognize revenue. During our analyses‚ we have identified several missing conditions in current situation‚ accordingly to information provided. * Evidence of Order Arrangement: SAB 101 requires an evidence to identify any transaction as a formal sales order. During our analyses we have found that in the sales transactions tested by Soma Desai‚ only the Technology
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Teaching by Principles: An Interactive Approach to Language Pedagogy Brown‚ H. D. (1994). Teaching by principles: An interactive approach to language pedagogy. Englewood Cliffs‚ New Jersey: Prentice Hall Regents. 416 pp. Reviewed by Gail Schaefer Fu The Chinese University of Hong Kong H. Douglas Brown’s Teaching by Principles is intended for teachers in training -- those who intend to be teachers but who have little or no classroom experience -- and for teachers who train teachers. It is
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the definition of quality has two aspects from the customer’s perspective: Quality is... 1. A greater number of features that meet customer needs 2. Fewer defects Key Attributes The Juran Trilogy Fitness for Use Quality Council Pareto Principle 10 Steps to Quality Improvement The Juran Trilogy To attain quality you must begin by establishing the vision‚ policies and goals of the organization. Converting these goals into results is done through three managerial processes called the
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CXC CSEC Principles of Accounts Exam Guide Section 1: Introduction to Principles of Accounts SPECIFIC OBJECTIVES The students should be able to: CONTENT 1. Explain the concept of accounting; concept of “Accounting” and “Principles of Accounting” 2. State the purpose of accounting; Accounting as a business practice – the purpose of Accounting. 3. Identify the users of accounting information; Internal and external users Accounting information and their needs 4. Outline
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UNIFYING PRINCIPLES OF ORGANIZATIONAL BEHAVIOR AND MANAGEMENT ABSTRACT Theories and models of organizational behavior and management continue to increase in number and complexity. While much of the recent research has not made its way into standard business textbooks‚ these textbooks nonetheless offer a broad array of topics and concepts that can easily overwhelm both student and practitioner. No common thread appears to link these disparate topics‚ despite the fact that variations on the
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Name: Chavonese Stephens Grade: 10c2 Date: September 5‚ 2012 Subject: Principle of Business Teacher Name: Mrs Bedward TABLE OF CONTENT Headings Page Description of business 3 Justification of location 4 Selection of appropriate labour 5 Source of fixed and working capital 6 Role of the entrepreneur 7 Type of production 8 Level of production 9 Quality controls measures 10 Uses of technology
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