Revenue Cycle and Control Activities The revenue cycle for many companies is considered the primary source to earn revenue from the sale of goods or service. Good controls must be established to maintain the effectiveness of receivables and credit sales‚ not doing so can harm the company and might be costly to the business. Six classes of internal controls guides us in evaluating and designing transaction processing. They are authorization‚ supervision‚ segregation of duties‚ access control‚ independent
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course: This week you learned about the unearned revenue account. Provide three examples of unearned revenue. Answer: Three examples of unearned revenue would be 1.Prepaid Expense - A year long insurance contract a company paid $12‚000 for at the beginning of the year. Since the insurance company owes the company service‚ the expense prepayment is recorded as an asset Journal Entries: debit Prepaid Insurance and credit Cash). 2. Unearned Revenue - A year long subscription of $12‚000 is received
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Trade creation occurs when consumption switches from high cost producers to low cost producers • The removal of tariffs leads to lower prices for consumers and an increase in consumer surplus • Imports will increase • The govt will lose tax revenue • Domestic firms producing this good will sell less and lose producer surplus • However overall there will be an increase in economic welfare • The magnitude of this increase depends upon the elasticity of supply
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highlight the different incentives offered by such promotions. An Empirical View of the Different Types of Consumer Promotions in India Expenditure on sales promotion by various marketing companies in India is estimated to be Rs. 5‚000 crore and is growing at a robust pace every year (Economic Times June 15‚ 2003). Companies in an attempt to drive sales offer various kinds of consumer promotions from price offs‚ extra product‚ freebies‚ scratch cards. In the year 2001‚ there were as many as 2‚050 promotional
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Sales Letter of Road Condition System 莫茜淘 Dear travelers: Do you feel annoyed with waiting in long fleet? Were you ever no ready for the poor road condition? For everyone who goes out by driving‚ a perfect route always means a good start before a wonderful trip. Thus‚ we feel threatened by such a common phenomenon that we have to wait for nearly one hour when encountering traffic jam‚ especially in some big cities like Beijing or Guangzhou. How can we avoid this annoying problem?
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Analyze of No witchcraft for sale by Doris Lessing Why did Gideon call Teddy “Little Yellow Head”? First of all‚ he called him this‚ because Teddy’s hair is fair and light‚ like nothing he had ever seen. He also gives him a native name‚ to show him the loyalty he gives him. What happened to Teddy in the beginning of this story? One day‚ Teddy had been out‚ driving on his scooter. He had gone in to the bushes‚ where a snake had spat in his eyes‚ almost making him blind. Without doubting
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http://www.researchandmarkets.com/reports/869/ Sales Force Structures and Strategies 2001: A Case Study Analysis of Effective Sales Force Management Description: As sales forces expand to maintain share of voice in an increasingly competitive market and physicians limit the time spent with sales representatives‚ ROI on detailing is in decline. Therefore‚ maximizing field force productivity is vital to the future success of all pharmaceutical companies. Sales Force Structures and Strategies 2001 is an
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“Research on preference pattern of consumers of KFC and McDonalds” RESEARCH ON PREFRENCE PATTREN OF McDonald’s AND KFC IN AHMEDABAD MARKET EXECUTIVE SUMMARY: The international market is flooded with various sectors and industries that involve products of daily as well as occasional use for the consumers. The use of the products can vary from industrial purpose to private consumption. One such thriving industry in the modern world is the food and beverage industry. Food and beverage industry
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The Right Way to Recognize Revenue Learn the components of SAB 101 and mistakes to look out for. BY THOMAS J. PHILLIPS JR.‚ MICHAEL S. LUEHLFING AND CYNTHIA M. DAILY More than half of the financial reporting frauds among “A U.S. public companies from 1987 to 1997 involved overstating revenue‚ according to a study conducted by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Auditors have always focused on possible revenue recognition overstatement in financial
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