IASB and FASB release revenue recognition exposure draft What is the issue? On June 24th‚ the FASB and IASB issued an exposure draft proposing a new revenue recognition model that could fundamentally alter the way entities across a variety of industries recognise revenue. The proposal is an output of the boards’ joint efforts to develop a converged revenue recognition standard based on the same principles. A key objective is to increase the consistency of revenue recognition for similar contracts
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1. Analytics: Analytics is the discovery and communication of meaningful patterns in data. Especially valuable in areas rich with recorded information‚ analytics relies on the simultaneous application of statistics‚ computer programming and operations research to quantify performance. Analytics often favors data visualization to communicate insight. Firms may commonly apply analytics to business data‚ to describe‚ predict‚ and improve business performance. Specifically‚ arenas within analytics
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Recent trends in banking technology: 1. Convergence of Mobile and Online Technologies - Mobile banking started as an innovation‚ something only techies and first adopters felt comfortable using it. But as smartphones have skyrocketed in popularity over the past few years‚ mobile banking adoption has increased along with it. As banks continue to search for efficiencies and consolidate operations‚ the convergence of mobile and online technologies looks to be a prime opportunity to do so. 2
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Chapter 3 Key Terms Federal system- system of government where the national government and state governments share power and derive all authority from the people Confederation- Type of government where the national government derives its powers from the states; a league of independent state Unitary system- system of government where the local and regional government derive all authority from a strong national government Tenth amendment- The final part of the Bills of Rights that defines the
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General Motors Corp.‚ the world ’s largest automaker‚ has been the global industry sales leader for 75 years. Founded in 1908‚ GM today employs about 327‚000 people around the world. With global headquarters in Detroit‚ GM manufactures its cars and trucks in 33 countries. In 2005‚ 9.17 million GM cars and trucks were sold globally under the following brands: Buick‚ Cadillac‚ Chevrolet‚ GMC‚ GM Daewoo‚ Holden‚ HUMMER‚ Opel‚ Pontiac‚ Saab‚ Saturn and Vauxhall. GM operates one of the world ’s leading
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3.6 Revenue recognition with examples when goods are sold under sale or return There are cases when payments are received prior to events that trigger revenue recognition. In that case‚ cash is debited and the unearned revenue is credited. On the other hand‚ when revenue recognition is triggered before actual payment is received‚ accounts receivable is debited while revenue is credited (“Revenue Recognition Principle‚” 2013). Goods are sold under sale or return when they are “sent by the supplier
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including the theorist and key concepts. Carl Jung‚ rejected Freud’s view of primary importance of unconscious sexual urges as well as others. Jung looked at the primitive urges of the unconscious more positively and argued that they represent a more general positive life force that compasses the inborn drive motivating creativity and more positive resolution of conflict. 3. Give a brief explanation of one of the learning theories including the theorist and key concepts. B.F. Skinner‚ Stated that
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Revenue expenditure is an expenditure which on cost of doing business on day to day basis and is necessary to be cover to maintain the business going on effectively. Thus‚ revenue expenditure is the cash or credit that being spent immediate for short-term purpose‚ example‚ expenses on assets such as repair and fuel which will or will not improve the value of the given assets. Capital expenditure is an expenditure which will cause future benefit to the company. It’s the money that spends on the
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Adverse Trend & Data Management Carrie Minton HCS/482 March 16‚ 2015 Eric Rios Adverse Trend & Data Management An adverse trend in the health care system is a serious event causing harm to patients as a result of inadequate medical care. A trend is a consistent and pressing issue that needs to be addressed. Trending adverse events indicate that the care given is resulting in an undesirable patient outcome. An important adverse trend that is addressed in this paper is medication errors
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of essi on a l P r onou n c e m e n ts ASC 605-25‚ Revenue Re cogni t ion : Mul t ipl e- E l ement A r r angements (ASC 605-25) (formerly EITF Issue No. 00-21‚ Revenue Arrangements With Multiple Deliverables (Issue 00-21))‚ as amended by ASU 2009-13‚ Revenue Re cogni t ion (Topi c 605) : Mul t ipl e- D e l ive r abl e Revenue A r r angements (ASU 2009-13) (formerly EITF Issue No. 08(Issue 08-1)) SEC Staff Accounting Bulletin Topic 13‚ Revenue Recognition (SAB Topic 13) P rof essor N ot e :
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