Unearned revenues are revenues that are received before the company delivers goods or provides services. Some industries that have unearned revenues would include magazine publishers as they only receive checks from customers once the magazine is ordered. Until then the company awaits payment and does not have this in advance. Another company would be airlines because they receive cash once the tickets are sold for future flights. Unearned revenue is used by any company that accepts payments or deposits
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Case 09-1: Velocity Cellular Page 1 D I S C U SS I O N M A T E R I A L S O b j e c t i v es o f t h e C a se This case gives students the opportunity to use accounting and auditing literature and professional judgment to research complex accounting issues effectively and efficiently. Specifically‚ students will be able to: Understand the application of the guidance in ASC 605-25‚ as amended by ASU 2009-13‚ to complex multiple-deliverable arrangements. Understand the application of the
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IASB and FASB release revenue recognition exposure draft What is the issue? On June 24th‚ the FASB and IASB issued an exposure draft proposing a new revenue recognition model that could fundamentally alter the way entities across a variety of industries recognise revenue. The proposal is an output of the boards’ joint efforts to develop a converged revenue recognition standard based on the same principles. A key objective is to increase the consistency of revenue recognition for similar contracts
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Using the Internet‚ access the Disney company website at http://disney.go.com/home/today/index.html and spend at least fifteen minutes navigating the site. Answer the following questions based on the information available online. 1) Identify three different revenue streams generated by the Disney Company. 2) What types of ancillary products can be purchased on the company website? 3) Does the website give some indication of Disney marketing strategies? 4) Do you think the
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Bureau of Internal Revenue (Philippines) The Bureau of Internal Revenue (Filipino: Kawanihan ng Rentas Internas‚ or BIR) is an attached agency of Department of Finance. BIR collects more than one-half of the total revenues of the government. Functions The powers and duties of the Bureau of Internal Revenue are: Assessment and collection of all internal revenue taxes‚ fees and charges; and enforcement of all forfeitures‚ penalties‚ and fines connected therewith‚ including the execution of judgments
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Experience in Apollo Hospitals‚ Dhaka: My project was to write about a real life service experience and for this project I interviewed Ms. Rezina Nazneen‚ who is a faculty in Independent University of Bangladesh. I decided to write about her experience in Apollo Hospitals‚ Dhaka. She had a surgery there and for this surgery she experienced 6 days of service from Apollo Hospitals. She was expecting her second child and for the infants delivery she chose Apollo Hospitals‚ Dhaka. There were several
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Civil Hospital Karachi is a 1900-bed tertiary care public hospital that imparts both undergraduate and postgraduate teaching and training. It is one of the teaching hospitals affiliated with the Dow Medical College[1] now the Dow University of Health Sciences. Civil Hospital Karachi is arguably the largest teaching hospital of Pakistan‚ catering not only to all areas of the province of Sindh but also the neighboring province of Balochistan as well. -------------------------------------------------
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beautiful plan for every woman and man. Trust Allah and pray and He will light the way. (Wael Abdelgawad) Programming Fundamentals (Spring 2013) Assignment No. 5 Deadline: 06/05/2013 11:45PM Design following programs in Visual C++: Question # 1 Write a program that dynamically allocates an array large enough to hold a user-defined number of test scores. Once all the scores are entered‚ a function should be called that sorts the array in ascending order. Another function should be called that
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The Future Role of Hospitals Daniel A. Ponce Our Lady of the Lake University HCMG – 7325 Health Care Planning and Policy Universal health care is on the way for all Americans. President Obama’s Health Care Reform will mandate that all Americans have medical insurance by 2014. (Jackson & Nolen‚ 2010) Either the employers will provide the medical insurance or the individual will have to purchased the medical insurance themselves. Who is responsible for purchasing
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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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