balance sheets‚ statements of cash flow‚ management comments‚ and footnotes to financial statements‚ to explain how each current asset and liability account has affected cash management strategies. This paper also includes an assumed forecasted revenues increase of 20% for 2013. As a stakeholder‚ shareholder‚ or investor the ability to gain a brief‚ yet fundamental understanding of Apple‚ Inc.’s operational controls in reference to their current assets and liability accounts through the information
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products? Potential Benefits: 1. How large is the (existing/potential) market for this product? 2. How much revenue is expected from it? 3. How long is the potential life of this product? 4. What are the growth potentials of this product? 5. How long will take for competitors to imitate/ pioneer a similar product? PROS CONS GangBuster Expansion Program Maintains revenue stream Limits Budget of R&D for other projects ($300‚000 needed to maintain current sales) There is still potential
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| 30 | Unearned Service Revenue | 4100 | | | | Service Revenue | | 4100 | | | (to record revenue earned) | | | Jun | 30 | Salaries Expense | 1250 | | | | Salaries Payable | | 1250 | | | (to record accrued salaries) | | | Jun | 30 | Depreciation Expense | 250 | | | | Depreciation Equipment | | 250 | | | (to record monthly depreciation) | | | Jun | 30 | Accounts Payable | 3900 | | | | Service Revenue | | 3900 | | | (to
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statements. REPORTABLE SEGMENT SFAS 131‚ Disclosures about Segments of an Enterprise and Related Information‚ defines an operating segment as a component of an enterprise that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise)‚ whose operating results are regularly reviewed by the enterprise’s chief operating decision maker to make decisions about resources to be
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Accounting Standards Board. (2012). SFAS 106‚ Accounting for Postretirement Benefits Other Than Pensions. Financial Accounting Standards Board. (2012). Statement of Position 98-5 Reporting on the Costs of Start-Up Activities. Investopedia. (2012). Revenue Recognition. http://www.investopedia.com/terms/r/revenuerecognition.asp#ixzz1xjbOoqk4 Investopedia. (2012). What ’s the difference between bottom-line and top-line growth? http://www.investopedia.com/ask/answers/149.asp#ixzz1xjKX3PXh Kylie Keener
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1. What is the impact of the December 1993 shipments of conventional lenses to Bausch and Lomb 1993 financial statements? Is the impact significant? The impact was:- i) Increased revenue by $22M ii) Reduced inventory by 1.8 million pair. Based on the COGS of 45%‚ this could mean a reduction in inventory of close to $10M. iii) There is very little increase in SG&A as not much was spend in terms of sales effort. iv) AR increased significantly with some of the promissory notes are payable in
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Providence‚ Bahamas region and has been experiencing declining revenues and unprofitability for the past three years as a result. Other resorts that have been able to specialize in certain segments of the diving industry have been doing well over the past years as the industry continues to grow. CDR must look for opportunities in the diving industry to find a unique niche and gain a competitive edge that will lead to an increase its revenues. The SWOT analysis (Exhibit 1) looks at the current state of
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equipment and an extended warranty contract? Approach number one‚ the Full revenue recognition is the most consistent due to the reasons which are demonstrated on exhibit two according to the Financial Accounting concept No.5. As stated in this exhibit‚ Revenues must be both realized and earned prior to the recognition. In this case‚ after selling the goods and services Circuit city at that point of sale both revenue and earnings have been realized because goods have exchanged hands. At this
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sabadra@db.com Matt Diamond Research Associate (+1) 415 617-3345 matt.diamond@db.com After calling for a moderate Consulting slowdown in the first half of FY13‚ ACN now expects the practice to ramp through the year with bookings converting to revenues at a slower rate (longer-term projects). We see Consulting growing at 1.3% cc for the quarter before slightly improving to 1.5% in 2Q13 and 2.5% in 2H13 as clients continue business-wide transformational programs. Outsourcing in our view should maintain
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The membership fees recorded as revenue when received in Costco’s financial statement in 1998 according to the cash accounting. * Was this correct? If not‚ what accounting principle does it violate? No. It violates the revenue recognition principle because they did not provide services to members when they pay the membership fee during this fiscal year. It can only record this item as unearned revenue under the liabilities and change them into revenue at the end of the year. * How did
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