technology support and so forth. Maintenance fees are recorded as revenues when they sign in the contract and the fees are receivable for Oracle. As can be see the charts‚ the number of revenues had climbed increasingly in 1990‚ comparing with 1989. 2. Oracle assumes that the quality of receivables is great. But managers concerned about the quality of receivables. Oracle’s days receivable exceeded 160 days which was significantly longer than competitor average of 62 days. The achievement of sales is based
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Working capital (gross) refers to total current assets that sustain day-to-day business operations. According to the balance sheet model (figure 1)‚ the main components of current assets include: Cash‚ Marketable Security‚ Notes Receivable‚ Accounts Receivable‚ and Inventories of Raw materials‚ Work-in-Progress‚ and Finished goods Concluding Remark Inefficient management of working capital can dramatically affect a company’s cash flow. Take about one minute; ponder the impact
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“Liquidity and Profitability: An Empirical Analysis of Cement Industry of Pakistan” BY: ADNAN AHMED ACKNOWLEDGEMENT All prays to Allah Almighty who is the most beneficiate and the most merciful who is master of the day of “Decisions” and million times “Droods” and “Salams” to the Holy Prophet (PBUH) whose life is role model for us and for all. I am very thankful to my teachers‚ I under their kind control and guidance learnt a lot. May Allah bless them with success! ADNAN AHMED
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High Quality Auditing Class – Intake 52 | Assignment Report | Abt. Thu Duc Centrifugal Concrete Joint-Stock Company | Group 4: | Duong Thi Phuong ThaoLe Duy AnhNguyen Thi HangNguyen Mai HuongLe Khanh Ly | | 10/4/2012 Contents A. General information 2 I. Establish and Development 2 II. Description of business 3 B. Description of accounting system 4 I. Summary of significant accounting policies 4 II. Description of recording process 6 C. Brief look at financial
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its accounts receivable (i.e.‚ invoices) to a third party (called a factor) at a discount. In "advance" factoring‚ the factor provides financing to the seller of the accounts in the form of a cash "advance‚" often 70-85% of the purchase price of the accounts‚ with the balance of the purchase price being paid‚ net of the factor’s discount fee (commission) and other charges‚ upon collection from the account client. In "maturity" factoring‚ the factor makes no advance on the purchased accounts; rather
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with the President‚ which took place in January 2011‚ proceeded as follows: President: “The Accounts Receivable shown on the Statement of Financial Position as of December 31‚ 2010 are nearly P100 million and the funny thing is‚ we just collected a bunch of the big accounts in early December but had to reinvest most of that money in new equipment. At one point last year‚ more than P200 million of accounts were outstanding! I had to put some pressure on our regular clients who keep falling behind
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principal methods used to conceal receivables skimming? * 1. Lapping – is when someone tries to conceal the theft of cash designated for accounts receivable by crediting one account while abstracting money from a different one. * 2. Force balancing – is when the fraudster falsifies account totals to conceal the theft of funds (also known as “plugging”). The fraudster will steal a customer’s payment but nevertheless post it to the customer’s account so that the account does not age past due.
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Ex. 6.2 B. Ex. 6.3 B. Ex. 6.4 B. Ex. 6.5 B. Ex. 6.6 B. Ex. 6.7 B. Ex. 6.8 B. Ex. 6.9 B. Ex. 6.10 B. Ex. 6.11 Exercises 6.1 6.2 6.3 6.4 6.5 6.6 6.7 6.8 6.9 6.10 6.11 6.12 6.13 Topic Computation of gross profit Accounts receivable subsidiary ledger Perpetual inventory system computation of income Periodic inventory system inventory balance during year Periodic inventory system determine cost of goods sold Periodic inventory system working backwards through the COGS
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needs C) To analyze the balance between debt and common stock financing D) To analyze the balance of accounts receivable on the last day of the accounting period 5. A business organized as a separate legal entity is a A) corporation. B) proprietor. C) government unit. D) partnership. 6. The right to receive money in the future is called a(n) A) account payable. B) account receivable. C) liability. D) revenue. 7. Gibson Company recorded the following cash transactions for the
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incurred operating losses‚ which meant that generating cash from operations was at best limited or insufficient. The second major factor is the inefficient use or mismanagement of some of the current assets accounts‚ namely Accounts Receivable and Inventories. When it comes to Accounts Receivable‚ it can be seen that in 1985‚ which is the most recent full year of operation‚ the company’s Days Sales Outstanding is 70.9 days versus the industry’s average of 55.1 days. This indicates that customers are
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