"Revenue" Essays and Research Papers

The issue of revenue recognition practices is an area that has received a lot of attention from regulators. Whenever there is a report of financial restatements or negative earnings, regulators pay extra attention to review the financial statements in order to verify that that there are not any indications of financial fraud or that the organization overstepped their boundaries in the area of managed earnings. The reason that regulators have taken a special interest in financial accounting and potential...

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data)   | February 1, 2008 | February 2, 2007 | February 3, 2006 | January 28, 2005 | January 30, 2004 | February 1, 2002 | January 28, 2000 | Results of Operations |   |   |   |   |   |   |   | Net Revenue | 61,133 | 57,420 | 55,788 | 49,121 | 41,327 | 31,168 | 25,265 | Cost of Revenue | 49,462 | 47,904 | 45,897 | 40,103 | 33,764 | 25,661 | 20,047 | Gross Margin | 11,671 | 9,516 | 9,891 | 9,018 | 7,563 | 5,507 | 5,218 | Gross Profit Margin | 19.1% | 16.6% | 17.7% | 18.4% | 18.3% | 17...

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Public Revenue Reporting and Monitoring The main sources of public revenue are:  Taxes and levies such as for e.g. income tax, property tax, sales tax, license fees, import and export duties, levies charged for services etc   Earnings from natural resources like oil, gas, minerals etc    Loans from other governments, the private sector, or international financial institutions like the International Monetary Fund, World Bank and regional  development banks that must eventually be repaid with...

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Revenue has become the lifeblood of the government from the moment the Philippines had been given the freedom to establish its own system of governance and formulate laws which formally states the people’s rights, duties and obligations. However, for the country to continuously sustain the needs of its citizens it has to generate revenues from the different sources available. How will the national government implement the maximization of revenues from local communities...

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Introduction This assignment features the recognition and measurement of revenue depending on the source of revenue in accordance with the provisions of International Accounting Standards (IAS) 18 Revenue. I researched the topic and defined the special purposes of the assignment: first of all, it is important to know the main concepts of IAS 18, also to learn the rules by using this particular regulatory framework, and to get knowledge about writing the report at all. ...

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Revenue sources Education systems need to raise sufficient revenues to ensure that, if used efficiently, students may reach appropriate learning goals at each education level. In general, countries raise revenues for education through three broad sources: international, public and private. A big challenge for many countries is raising sufficient revenues to expand enrollment while maintaining, or even raising, school quality. While increasing efficiency in the use of resources is necessary, countries...

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Expenditures and Revenues Matrix and Summary Amber Pickett AJS/522 April 16, 2012 Park Atatah Expenditures and Revenues Matrix and Summary Budgets are significant in the budget formulation process. Budgeting as a tool is the make-up of public policy (Smith & Lynch, 2004). Budgets exist at all levels of government, local, state, and federal. When describing revenue sources in public budgeting, it is important to describe the source of revenue, the source of the funding, importance of...

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2014-09 "Revenue from Contracts with Customers” Jade Nelson ACCT 4111-01 10/28/2014 Over the past few years, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have been working closely together to develop a new set of revenue recognition standards in an effort to merge the standards of FASB and IASB, lessen the amount of industry-specific differences in the standards, and make the standards more principles-based. Because revenue is very...

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THE REVENUE SOURCES OF FACEBOOK.COM Facebook Revenues Up to $700 Million in 2009, On Track Towards $1.1 Billion in 2010 Facebook is tight-lipped about its revenue numbers, which is typical of private companies. The most it has said publicly is that it became “free cash-flow positive” as of last September. At the time, we estimated it was set to bring in around $550 million for the year in revenues based on previous reports that we and others had heard, and from our own calculations. But how did...

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Accounting Standards Board (FASB) have undertaken a joint revenue recognition project that clarifies the principles for recognizing revenue that can be applied consistently across various transactions, industries, and capital markets. This project will apply to all contracts with customers except leases, financial instruments and insurance contracts. The joint project will attempt to remove inconsistencies and weaknesses in existing revenue recognition standards by retrofitting, and thoroughly improving...

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Revenue Recognition Revenue is the electricity that drives business. Revenue has been the starting point on every income statement generated, every sales meeting conducted, and is on every entrepreneur’s wish list. The basic concept for revenue recognition is that revenue should not be recognized until it is realized or realizable and earned. There are also four criteria must be met in order to recognize revenue: 1) persuasive evidence of an arrangement exists: Consider the substance of the transaction...

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CHAPTER 5 REVENUES AND MONETARY ASSETS Chapter 5 is about Revenue Recognition and Monetary Assets. There are different criteria used in recognizing revenue depending on the standards the company is using. In general, revenues should be recognized when an entity has significantly performed what is required in the agreement, full ownership of goods is transferred, and services are rendered. The Securities and Exchange Commission (SEC) have identified fraudulent cases where the companies...

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Expenditures, Revenues, and Budgets Expenditures, Revenues, and Budgets AJS 532 Expenditures, Revenue, and Budgets Budgeting is an important subfield of public administration (Tyer & Willand, 1997). A budget system balances expenditures and revenues (Smith & Lynch, 2004). In public budgeting, revenues are funded by sources. These such sources are fees and special assessment, lotteries, and public, and other miscellaneous revenue. Another important factor of budgeting...

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Chapter 10 Auditing the Revenue Process SEC SAB101: Revenue recognition 1. 有persuasive evidence 有证据 2. Delivery occurred, service rendered，东西给了服务于需求 3. Price is fixed/determinable 价格固定 4. 有collectability钱收的回来 Fraud Risk in Revenue cycle: 欺诈风险 1. Side agreement: off-book, adjust record to entice customer 2. Channel stuffing: 填塞分销渠道，造成销售假象 inflate sales by forcing product through a distribution channel 3. Related party transaction: 实质重于形式原则substance over form是指企业应当按照交易或事项的经济实质进行会计核算，而不应当仅仅按照它们的法律形式作为会计核算的依据...

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Facebook today has become a synonym for people across the world to connect with others and share their thoughts and ideas. THE CASE: Shareholders passed a resolution asking to generate revenues from the increasing user base. The charge could be some monthly fee or from a new unit being added. The latest revenue of Facebook is quoted as $1.6 billion and net income of $500 million. The company is planning to go for an IPO in near future and also the valuation of the company is $100 billion. THE...

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REVENUE RECOGNITION MCDONALD'S CORPORATION INTRODUCTION McDonald’s and Burger King have been in competition for over 50 years. Similar companies can choose different revenue recognition methods that can cause them to appear different. This report’s purpose is to explain McDonald’s revenue recognition policies and methods in comparison to Burger King’s. DISCUSSION FOR ACCOUNTING POLICIES AND METHODS McDonald’s and Burger King’s revenues mainly consist of two things, sales and franchise fees...

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E-Commerce revenue models specifically describe different techniques used in generating income from the publisher's websites. As the e-commerce progress, the traditional revenue model of sales is expanded to more variety of revenue options and e-commerce business model. All of the large-scale hotel such as Shangri-La, Sheraton Seoul D-Cube City Hotel and others are more focus on e-commerce revenue models in order generate revenues from multiple income streams. Thus, all of these hotels were successful...

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Revenue Recognition Policy (Note 2): A. Sale of goods Revenue Recognition According to the annual report's financial statement notes, CV Technologies (CVT) recognizes revenue when the title of goods is passed on to the customer, and when reasonable assurance exists regarding the measurement and collection of the consideration given. This means that once CVT ships its goods to their reliable customers, they will account for those goods as sold, and recognize the contract amount as revenue. This...

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#1-E) Experience with Revenue Recognition--- Do you have any experience related to revenue recognition? Surely, I do #2-Please read the financial statement analysis case (Merck & Johnson & Johnson) on page 613, Chapter 12. Please read the instructions for (a), (b), and (c) and address the three questions that are asked. Case Merck & Johnson & Johnson are two leaders producers of health care products.  Each has considerable assets, and each expends considerable funds each year toward the development...

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operations for additional improved services and lower costs.   * Goal: Maintain double-digit growth in broadband subscribers and revenues Achievement:Ongoing. Growth of 5% from year-end 2011 to 3.1 million combined PLDT group broadband subscribers on track for full-year double-digit growth. Revenue growth of 32% to Pesos 11.6 billion (US$271.5 million) achieves the revenue goal.   * Goal: Complete the two-year network modernization program Achievement:Ongoing. Full-year 2012 capex budget of Pesos...

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2011*(32+21.27+20.21)/3]/ (1.1096^5) = [519*(32+21.27+20.21)/3]/(1.1096^5) =7557.584479 2. What would you consider reasonable, “high,” and “low” growth estimates (median, 25th, and 75th percentile growth estimates) for 2008 and for the long run? Year Revenue Growth Rate 2003 1.165 2004 13.52 1061% 2005 105.581 681% 2006 355 236% 2007 847.35 139% 2008 1370 62% 2009 2058 50% 2010 2788 35% 2011 3367 21% 2012 3569 6% 25th quartile 35 % Median 62% 75th Quartile 236 % For 2008, it will...

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a) -Revenues are inflows of assets or settlements of liabilities or both. Revenues come from activities of the entity’s central operations. -Gains are increases in net assets and from peripheral or incidental transactions of an entity. -The difference between gains and revenues depend to a great extent on the typical activities of a company. For example, when McDonald’s sells a hamburger, it records the selling price as revenue. However, when Mc Donald’s sells land, it records any excess of...

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Revenue Enhancement action plan and strategy Assignment project: Business strategy Prepared By : Ajmal Rasheady Date: 2013 Introduction Municipalities in Afghanistan are created for management of city affairs and to provide for the general welfare of their inhabitants. In spite of this huge responsibility toward city and citizens, municipalities are the non-budgetary units of government and are authorized to generate their own revenues. Given this fact, we realize that urban development...

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Revenue Recognition: IFRS and FASB Convergence With the growth of international business there is a need to standardize financial statements globally. Presently there are “approximately 120 foreign private issuers currently that report to the Commission using IFRS financial statements.” By standardizing accounting practices investors will be able to make informed decisions based on comparability and accuracy of financial statements. The SEC released this statement in 2008, “We believe that...

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PATTERNS OF PHILIPPINE REVENUE 1960-1990 I. INTRODUCTION The government revenue system, including the agencies involved in taxation and borrowing, has always been the focus in the study of public finance. Public revenues are funds used not only to keep the government machinery going but also to enable the government to carry out its various fiscal functions of allocation, distribution and stabilization. The Philippine revenue system has assumed more importance since the government has steadily...

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Wrong Number: Telecom Tricks The telecommunications industry had its own bizarre take on revenue recognition during the boom. From 1997 to 2000, Global Crossing took on over $7 billion of debt to lay 1.7 million miles of fiber-optic cable to transport data via the Internet. When completed in summer 2001, the network spanned 27 countries and 200 major cities around the globe. The company’s debt load didn’t seem to faze investors—Global Crossing’s market capitalization reached $40 billion in 1999...

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ANALYSIS OF KENYA’S GOVERNMENT REVENUE From the analysis Taxes seem to be the major source of revenue to the government since in the year 2006/7 it accounted for 93.16% of the total revenue, in the year 2007/8 it accounted for 94.91% of total revenue and in the year 2008/9 it amounted 94.71%. This is a good sign since the tax revenue/total government revenue is ideally required to be above 50%. The following classes of taxes were the major sources of revenue for the government: • Taxes on income...

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$54500 $36000 $110000 $55000 $55000 $29000 $26000 Answer 4: The Owner can prevent irregularities by the following ways:- Keep checking the Ratios at small interval of time. Taking Bank Reconciliation Statement. Matching the Revenue with Expenses. Take Consistency in method of recording the transaction. Case 3 Answer 1: Yes Lequita Adkins is a clever business person because Firstly she took a grace period of 90 days from 30 days, thereafter on final payment she also took...

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 implication  of  HKFRS  15   Revenue is the gross inflow of economic benefits during the period arising in the course of business of the ordinary activities of the entity, other than increases relating to contributions from equity participants. It is of most significance of both the creditors and the shareholders for decision-making, and therefor it is attached great importance of it’s reliable and accuracy. The most crucial element of revenue, the criteria of Revenue Recognition Principles, has been...

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Government spending and revenues in China and America International accounting four 0092962 Chen Yuting Public finance is a subject about the taxing and spending activities of government. Considering the function of government, two opposite views stand out. One is organic view of government. The main idear is that the government can be though of as the society’s heart. Another is mechanisitic view of government. It insists that government is not an organic part of society while it is a contrivance...

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own sales force. 5. Prepare a graph on which you plot the profits for both of the following alternatives. a. The independent sales agents' commission rate increases to 20%. b.The company employs is own sales force. On the graph. use total sales revenue as the measure of activity. 6. Write a memo to the president of Marston Corporation in which you make a recommendation as to whether the company should continue to use independent sales agents (at a 20% cornmission rate: or employ its own sales force...

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HaloButyl(25%) 2) 1985 : Prduced Butyl(50%, 45,000t), HaloButyl(50%, 45,000t) Transfer NASA to ERROW : Butyl(21,000t) Group 3 - 3/13 Q1. The meaning and accuracy of the volume variance. • NASA Rubber Division의 Sales Performance(1986) Actual Net sales Revenue 63,239,000 Budget 58,660,000 Deviation 4,579,000 exceed 3,735,000 exceed Gross Margin ※ Sales Volume Up 40,945,000 37,210,000 ※ Feedstock Cost Down Group 3 - 4/13 • NASA Rubber Division - Net Contribution(1986) Actual Budget Deviation ...

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Accum. depreciation-Trucks - Equipment 45,000 Accum. depreciation-Equipment 12,200 Accounts payable 5,000 Estimated warranty liability 1,400 Unearned services revenue - Interest payable - Long-term notes payable 15,000 D. Buggs, Capital 59,700 D. Buggs, Withdrawals 10,000 Extermination services revenue 60,000 Interest revenue 872 Sales (of merchandise) 71,026 Cost of goods sold 46,300 Depreciation expense-Trucks - Depreciation expense-Equipment - Wages expense 35,000 Interest expense...

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REVENUE GENERATION IN LOCAL GOVERNMENT COUNCILS IN NIGERIA. A CASE STUDY OF OBAFEMI/OWODE LOCAL GOVERNMENT Submitted by DAIRO ISAAC KUNLE Dept. Of Economics, University of Ibadan RESEARCH PROPOSAL INTRODUCTION Local governments are potentially very important for Nigeria as they play a significant role in generating revenue and encouraging civil involvement, as well as creating a visible link between taxes and service delivery. The increasing cost of running government coupled with dwindling revenue...

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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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Recently in June 2010, the International Accounting Standards Board and the Financial Accounting Standard Board initiated a joint project and released an exposure draft named Revenue from Contracts with Customers. This exposure draft emphasizes the status of revenue in assessing financial statements and states that revenue is conclusive in assessing a company’s operating situation and developing prospects. This statement has a profound influence on accounting industry and has lead to a wide range...

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importance of cost, revenue and profit for a business organisation 1. Cost Profit is the different between the selling price and the production cost. Product cost include not only the cost of manufacturing a product but also all the other costs incurred in the process of producing or delivering a product or service. 2. Revenue The revenue of a business is, the income from its operations. It is important for the business to make the gap between costs and revenue as wide as possible...

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whether these expenses have been paid in cash or not in that year. The same holds true for revenues, i.e., revenues earned in a specific accounting period are construed as incomes of the same period, irrespective of their receipts. This concept is also known as the accrual theory of accounting or accrual accounting. This concept applies equally to revenues and expenses. In the accrual basis of accounting Revenue is recognized when it is realized, that is, when the sale is complete or not.   Similarly...

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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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museums’ earned revenue include admission, gift shop, memberships, facility rentals and other variety of sources like private sector. Essentially, any product or service that is offered by the museum generates income. There is another form of revenue which is classified as unearned revenue. The main sources of unearned revenue are fundraising through individual donations and grants through any level of government. Hiring museum facilities for an event or filming is the best form of revenue. In order...

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Revenue Sources and Expenditures of a USA Charity in one year. The pie charts show the amount of revenue and expenditures over a year of a children’s charity in the USA. Overall, it can be seen that donated food accounted for the majority of the income, while program services accounted for the most expenditure. Total revenue sources just exceeded outgoings. In detail, donated food provided most of the revenue for the charity, at 86%. Similarly, with regard to expenditures, one category, program...

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EXECUTIVE SUMMARY Revenue Recognition and Wareham SC Systems, Inc. Wareham SC Systems, Inc. is a capital equipment and testing instrument manufacturer and supplier comprised of three divisions: the Glendale Division, the Advanced Technology Division and the Technical Devices Division (Anthony, Hawkins, & Merchant, 2011, p. 137). In 1999, Somai Desai, the company’s chief financial officer, received news that the Security Exchange Commision (SEC) issued a new set of revenue recognition and reporting...

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that I have chosen to address is the issue of revenue recognition. Revenue Recognition Analysis I started by looking at EAs annual report (Form 10-K) for the fiscal year ending March 31, 2007. Revenue recognition is discussed in some detail. In particular, they state that revenue is recognized according to the criteria established by Statement of Position (“SOP”) 97-2, “Software Revenue Recognition”, “Modification of SOP 97-2, Software Revenue Recognition, With Respect to Certain Transactions”...

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CASE: SARAWAK PROPERTIES SDN BHD v THE DIRECTOR GENERAL OF INLAND REVENUE ISSUE: Whether the tax treatment of income accrued and the expenditures incurred in respect of the appellant’s property development activities regarding the two projects, namely the shop house project and the TAR Centre. FACTS OF THE CASE: • The appellant become the sole developer of the TAR Centre project after it had acquired Tamasa Holding’s share for a cash consideration of RM 572758. • The development...

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Revenue Management and Pricing Case 1: The Springfield Nor’easters: Maximizing Revenues in the Minor Leagues Question 1: Based on the survey, we determine the accumulated percentage of customers’ willingness to pay at each price. Since the demand differs as the price changes, we want to see by which combination we can maximize our profit. Assuming the population is 100 people, we multiply the accumulated percentage and the price to estimate our revenue: Therefore we get our initial estimate of...

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The Diabetes App Market Report 2014 is a comprehensive analysis about the performance of diabetes apps, key players, best practises, country markets, regulatory impact, market trends and revenues from 2008 2018. Diabetes has become a global epidemic with significant impact on society and the economy. In 2013 around 382M people around the world were estimated to suffer from diabetes. Mobile applications promise to play an invaluable role in assisting people who suffer from diabetes to empower them...

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How much revenue does group buying market in Malaysia generate? Dealshelve as Malaysia's most comprehensive group buying deals aggregator has compiled some interesting data about group buying market in Malaysia for August 2011. Disclaimer: The statistics is purely based on data aggregated from group buying sites and we cannot be sure if any of the sites manipulated the number of sales in their deal pages. August Statistics Rank Site Revenue Number of sales Revenue per sale Number of deals...

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1. Years Ended December 31, 2004 2003 2002 Revenue (pre-tax) $99.6 $73.4 $56.1 Cost of sales (Revenue x 40%) ($39.8) ($29.4) ($22.4) Selling expense ($23.3) ($18.5) ($17.5) General and Administrative expense ($19.9) ($13.2) ($14.2) Depreciation and Amortization ($0.9) ($0.6) ($0.7) Other Income (expense) $0.0 ($1.4) $0.2 Net profit (loss)--GAAP $15.7 $10.3 $1.5 Add back amount eligible for capitalization Under SAB 104 (40% of total costs X 85%) $33...

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ACCT 301­01                                                                                              Carlos Briones  Revenue Recognition Case                                                                           Amanda Eng  Alipasha Ziaee        1. Revenue Recognition for Multiple­Element Arrangements ­ The Case of Velocity  Cellular    a) According the ASC 605­25­25­5 there are two criteria that must be met in order  to be considered a separate deliverable and a separate unit of accounting: ...

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Allstar Brands' Allround product is a 4-hour multi-symptom, over-the-counter, liquid medicine used to treat colds, coughs, and allergies. Allround is typically used at night because of the strength of the medication and because the alcohol and antihistamine helps consumers rest. When LSD&J took over as Brand Managers, our strategy was two-fold; grow the top and grow the bottom of the company. Our goal was to make the company strong and stable to ensure Allstar remains one of the top brands of...

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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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Hospital will be covered in this paper. More specifically, difference between audited and unaudited statements and reporting on the hospital's ratios will be included. Finally, information related to the relationship on revenue sources and expenses which included how the hospital revenues and expenses are grouped for planning and control will be included. The differences between the audited and unaudited sections of the financial statements are very different. According to Patton-Fuller (2011), it seems...

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develop a new robust consumer revenue stream, while maintaining its significant digital advertising business.” Secondary to the constraint of maintaining the ad business was the requirement to maintain social buzz and branding. To begin, the NYT wanted to increase future revenues for the paper and offset the inevitable decline of its print revenue. This, in the short run, was a success. As described in Question #2; this added over $81 million in previously unexploited revenue in just the first year, indicating...

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TechMall Case Analysis Jermrit Deeprom 303228476 BUS512A Fall2014 1. What are the revenue streams for TechMall ? The revenue streams for TechMall generally divide into three parts. First revenue stream stems from merchant one-time setup fee 750$, but there is an exception for merchants who set up since Beta period. Second is monthly statement fee, which basically charge merchants monthly except no charge for the initial set up month. The last one is transaction fee, which charges 2% for each transaction...

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Worldwide Wires “Revenue Recognition Woes” Introduction Worldwide Wires (“WW”) is a company that provides computer network and communications services around the globe. The company offers its services either directly to the customer or through a network of partners that are scattered around the globe. Their business model can be compared to that of a principal and an agent, with WW being the former and the partners being the later. The company and the partners enter into 5 year service...

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5-3* - JOAN HOLTZ Question 1: Electricity usage normally constant for every month, the unreported usage for December will be accounted in following month, in this case, it will be on January. Revenues for the year should be physically accurate. Question 2: It may be counted as $5,000 as revenue in 2010. This is because the payment was made on July 2010 whereby the service provided only 6 months for year of 2010 (50% of the $10,000). The balance should be counted in following year, 2011. Another...

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INTRODUCTION The act of the National Revenue Authority came into being on 13 September 2002. The National Revenue Authority has a mandate to administer and collect all taxes, revenues and all penalties as stated in the NRA act. The purpose of the National Revenue Authority is to serve as a central body for the collection and assessment of national revenue. The implementation procedures and policies by the National Revenue Authority will ensure that revenues are collected efficiently by enforcing...

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recognizing revenues and expenses between the accrual and the cash basis of accounting. Adjusting entries can be either temporary or permanent. If the entry is temporary at some point the adjusting entry will be reversed or another adjusting entry will be made to the account (Godwin, 2010). There are four types of adjusting entries that you should know; I will also give you a manufacturing industry example for each of the entries. These entries are called accrued revenues, deferred revenues, accrued...

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What effect did Microsoft’s revenue recognition policy have on its financial statements? Ignore any potential tax effects. a. Estimate the amount of revenue that Microsoft would have been reported in each year from 1996 through 1999 if Microsoft had not adopted its new revenue recognition policy in 1996. [pic] b. Why do you think Microsoft decided to defer a portion of its revenues in fiscal 1996? The company’s decision to defer revenues came at a time of significant...

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Corporation 1. What factors might have led analysts to question Oracle Systems’ method of revenue recognition in mid-1990? Are these legitimate concerns? Analysts might have been led to question Oracle’s method of revenue recognition because of revenue recognition timing, quality of receivables, and aggressive sales practice. These were all legitimate concerns. Oracle recognized licensing and sublicensing revenues on the date of contract rather than upon delivery when certain conditions were met....

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