determines income by subtracting expenses from revenues. As simple as this may seem‚ there are many complexities that arise when trying to implement this concept. For example‚ there are many activities and events that must take place to generate revenues. The accountant adopts the procedure of recognizing revenues at the time a certain critical event takes place. The sales (or accrual) basis is the most widely used method for recognizing revenues. Revenues are assumed to be earned at the time the sale
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1. What assumptions underlie Oracle’s recognition of revenue for license fee. Are these assumptions reasonable given the firm’s business and operating policies? Oracle recognized its license fee either upon shipment of the product or at the time such agreements are effective. In most instance is this the date of the agreement. The assumptions underlying this method is that if the customer is creditworthy and the terms of the agreement are such that the amounts are due within one year and are non-refundable
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correct decision about the revenue for the period. The percentage of completion method refers to the income earned by the contractor determined on the basis of progress of the contract. Under this method‚ current assets may include costs and recognized income not yet billed with respect to certain contracts. This method is most commonly used in the construction industry‚ where very long-term construction projects would otherwise keep a company from revealing any revenues or expenses on its financial
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Enhancement Segmentation Technique for Iris Recognition System Based on Daugman’s Integro-Differential Operator Asama Kuder Nsaef Institute of Visual Informatics (IVI) Universiti Kebangsaan Malaysia Bangi‚ Selangor‚ Malaysia osama_ftsm@yahoo.com Azizah Jaafar Institute of Visual Informatics (IVI) Universiti Kebangsaan Malaysia Bangi‚ Selangor‚ Malaysia aj@ftsm.ukm.my Khider Nassif Jassim Faculty of Management and Economics Department of Statistics University of Wasit Al-Kut‚ Iraq khider_st@yahoo
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Introduction to Oracle9i: SQL Instructor Guide • Volume 1 40049GC11 Production 1.1 October 2001 D33993 Authors Copyright © Oracle Corporation‚ 2000‚ 2001. All rights reserved. Nancy Greenberg Priya Nathan This documentation contains proprietary information of Oracle Corporation. It is provided under a license agreement containing restrictions on use and disclosure and is also protected by copyright law. Reverse engineering of the software is prohibited. If this documentation
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Oracle - Oracle- Database Management System Data management is an extraordinarily old craft. Aristotle ’s scheme of interlocking classifications of knowledge in his work Physica is a data-management effort. In the early 1800s the Jacquard loom used holes punched in paper cards to represent instructions for controlling the action of a loom. These cards became the basis for Herman Hollerith’s card-sorting device‚ used for the 1890 U.S. census http://80-gme.grolier.com.ezproxy.apollolibrary.com. Many
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Related Literature Related literatures refer to the list of reference related to the study being conducted. This will serve as a guide. According to: Anil K. Jain‚ Brendan Klare‚ and Unsang Park of Michigan State University. Face Recognition Face recognition is the task of recognizing a person using digital face images. A FRS is typically designed to output a measure of similarity between two face images. Automated FRSs typically involve finding key facial landmarks (such as the center of
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Revenue recognition on FASB and IASB convergence process I. CONVERGENCE OF U.S. GAAP AND IFRS Since 2002‚ Financial Accounting Standards Board (FASB) and International Accounting Standards Board’s (IASB) have been working toward “convergence” of US General Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). They have made significant progress in efforts to converge critical accounting standards such as those dealing with revenue recognition‚
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Revenue Recognition: Case Study on Caltron Computers‚ Inc. Julie Mong April 17 ‚ 2010 1. In general‚ evaluate Caltron’s revenue recognition policy and the quality of Caltron’s earnings. Caltron Computers‚ Inc.‚ a computer hardware company‚ is publicly held with market capitalization amounting to over $450 million. Carlton’s system designs enable their mini-computer systems to measure up to the power of mainframes with small cost outlays. The accounting practices
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Financial Reporting and Analysis – ACG6175 Date: 5/18/09 Revenue Recognition Problems in the Communications Equipment Industry 1 – In late 2000‚ Lucent announced that revenues would be adjusted downwards by $679 million as a result of revenue recognition problems. Yet the firms market capitalization plummeted by $24.7 billion. Why do you think the market reacted so negatively to Lucent’s announcements of the problems? There is usually a grey zone between aggressive accounting‚ which
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