|261096601 | |TRUCK CAPACITY IN CC= |191250000 | |NO OF DRUM REQUIRED= |161.659715 | |NO OF DRUMS THAT CAN BE PUT IN TRUCK |789 | |NO OF TRUCKS REQUIRED FOR TABLETS WORTH
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recognize revenue based upon the two possible FOB contract structures mentioned in the case? Why? If the shipping terms are FOB Shipping Point‚ the company recognizes revenue for the products shipped as soon as the products ship to the customer. This is because‚ per the contract‚ the title of the product shifts to the customer at shipping point‚ and the work necessary has been completed by the seller. If the shipping terms are FOB Destination‚ the company does not recognize revenue until the
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Biovail Business Memo In 2003 Biovail Corporation announced that it will miss its 3rd quarter earnings target by $25-$45 million‚ attributing $10-$15 million to a recent shipment loss. Being one of Canada’s largest publicly traded pharmaceutical companies with stock listed on both the Toronto and New York stock exchanges‚ the news raised concerns in the financial circles over the company’s accounting practices. Even Biovail’s claim that the shipment loss presented a revenue value of over $10 million
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DATE: September 9‚ 2010 SUBJECT: Biovail Concerns This report discusses the concerns regarding the Biovail pharmaceutical company and the causes‚ implication and ramifications of its recently released quarterly earnings guidance. Specifically‚ this report covers Biovail’s reasons for missing previous expectations for quarterly earnings and an analysis of the validity of these reasons. The focus will be on the assertion that a recent truck accident containing a major shipment of Wellbutrin®
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of revenue recognition‚ Biovail Corporation also has overestimated the amount of Wellbutrin XL on the truck. The company estimated that revenue associated with this shipment was in the range of $10 million and $20 million and confirmed that the manufacturing cost value of this shipment had been fully insured. The trooper estimated that the truck was about one-quarter full. After the investigation done‚ the analyst stated if there had been $20 million worth of Wellbutrin XL pills on the truck‚ it
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1. How many truckloads of product are actually required to carry $10 million of product? Show your calculations. A) Find the volume of the truck: Interior dimensions of the truck = Interior volume of the truck = = B) Find the manufacturer price (Biovail) for one tablet: Wholesale price for one tablet = $2.83 Distributor price for one tablet = Producer price for one tablet = [Since Wholesale margin is 35%] [Since Distributor mark-up is 400%] = $0.3679 C) Find
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2. How should the company recognize revenue based upon the two possible FOB structures mentioned in the case? According to GAAP‚ four conditions must be met in order to recognize revenue: 1. Persuasive evidence of an arrangement exists: although the case does not provide extra information on this aspect‚ it seems clear that there is an ongoing relationship between Biovail and the Distributor and that certainly there was a bill‚ purchase order and/or invoice in order to support this sale.
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Such is the mystery of God. Accident is accident. There is no explanation for it. It is God’s monopoly. Accident may be minor or major. It may leave you with slight injury; it may take away your life; or it may hurt you grievously. The accident that I met: Once I happened to meet an accident. It was a street accident. I caused me serious fracture at my backbone. My skull was also greatly wounded at its right side. I was completely senseless just after the accident occurred. When I got back my
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death experience? No‚ it was my first car accident. “Be careful and pay attention when you’re driving.” Said my dad. He always worries about things. I said‚ “I will‚ don’t worry I have everything under control.” I sort of chuckled in my head‚ thinking what’s the worst thing that could happen? I was only going down the street to my church. Without waiting for my dad to respond‚ I ran down the stairs and hopped into my rusted silver 1994 Chevy pickup truck. The whole reason I was going to First Baptist
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The U.S. has a significant numbers of commercial trucks driving consistently through various states every day‚ thus it is no shock that these trucks are at times caught up in vehicular accidents. A lot of these automotive crashes are not a result of these commercial truck drivers but rather‚ they were started by other neglectful drivers. Considering that cruising continuously as of late can be unsafe‚ it is always necessary that you carry out safety practices in order to avoid such incidents. Here
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