IT COUNTRY STUDIED: NIGERIA INTRODUCTION Nigeria‚ officially the Federal Republic of Nigeria‚ is a federal constitutional republic comprising 36 states and its Federal Capital Territory‚ Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west‚ Chad and Cameroon in the east‚ and Niger in the north. Its coast in the south lies on the Gulf of Guinea on the Atlantic Ocean. There are over 500 ethnic groups in Nigeria of which the three largest
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The issue of revenue recognition practices is an area that has received a lot of attention from regulators. Whenever there is a report of financial restatements or negative earnings‚ regulators pay extra attention to review the financial statements in order to verify that that there are not any indications of financial fraud or that the organization overstepped their boundaries in the area of managed earnings. The reason that regulators have taken a special interest in financial accounting and potential
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Revenue Cycle Education Improvement Strategies Presented by: Colleen Malmgren‚ MS‚ RHIA Fairview Health Services cmalmgrl @fairview.org Definition of Revenue Cycle All administrative and clinical functions that contribute to the capture‚ management and collection of patient service revenue *HFMA Scheduling/Registration Health Info Mgmt Case Management Pt Financial Srvcs Charge Capture Revenue Audit Chargemaster Establish Performance Indicators Establish measures that go beyond Accounts receivable
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Chapter 4 The Revenue Cycle Objectives for Chapter 4 • Tasks performed in the revenue cycle‚ regardless of the technology used • The functional departments involved in revenue cycle activities and the flow of revenue transactions through the organization • The documents‚ journals‚ and accounts that provide audit trails‚ promote the maintenance of records‚ support decision making‚ and sustain financial reporting • Risks associated with the revenue cycle and the controls that reduce these risks
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FORMULA Financial Environment: Quoted rate k = k* + IP + [DRP+LP+MRP] Risk & Return: Expected Return kˆ = P1k1 + P2k2………Pnkn Standard Deviation: The Coefficient of Variation (CV): CV = σ/kˆ The Expected Return on a Portfolio: kˆp = w1kˆ1+ w2kˆ2+……….+ wnkˆ n Portfolio Beta: bp = w1b1+w2b2 …….+wnbn Security market Line = SML = k = krf + (km-krf)b k = krf + (RPm)b Security Valuation: Current yield = annual interest payment market price of bonds
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Overhead Allocation [pic] Overhead Allocation Overview In many businesses‚ the cost of overhead is substantially greater than direct costs‚ so the cost accountant must expend considerable attention on the proper method of allocating overhead to inventory. There are two types of overhead‚ which are administrative overhead and manufacturing overhead. Administrative overhead includes those costs not involved in the development or production of goods or services‚ such as the costs of front office
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Metering Formula 1. Meter Multiplier Meter Multiplier - the multiplier applied to the register reading to obtain kilowatt-hours. M = Kh X Rr X Rs X CTR X VTR 10‚000 Where ; Kh = watt-hour constant of the meter in watt-hour per revolution Rr = register ratio = the number of revolutions of the register worm wheel for a revolution of the first dial pointer (right hand). Rs = gear ratio = the number of revolution of the disk for one revolution of the first point CTR = current transformer
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acceleration due to gravity at the Earth’s surface (g) g’ = (re2 / r2) g Acceleration due to gravity inside the Earth Here let r represent the radius of the point inside the earth. The formula for finding out the acceleration due to gravity at this point becomes: g’ = ( r / re )g In both the above formulas‚ as expected‚ g’ becomes equal to g when r = re. PROPERTIES OF MATTER Density The mass of a substance contained in unit volume is its density
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A: The primary criteria the auditor should use in determining revenue to be recognized are: (1): persuasive evidence of an arrangement exists. (2): Delivery has occurred or services have been rendered. (3): The seller’s price to the buyer is fixed or determinable. (4): Collectability is reasonably assured. The most basic principle for revenue recognition is revenue has been realized or realizable and earned. B: (1) a: Multiple deliverable. Does the software and one year internet service has
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problems they’ve encountered. Timberland has received various awards such as "Fortune Magazine 100 Best Places to Work" and they are globally known as a socially responsible corporation. Timberland has been expanding and making innovative products since the day they hit the shelves‚ leading to high success in the footwear industry. Timberland’s investment in new information technology has allowed them to introduce a customization strategy. Combined‚ these factors have given Timberland a significantly
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