GA-1 October 21‚ 2011 Mr. Larry Lancaster Chairman‚ President and CEO Apollo Shoes‚ Inc. Shoetown‚ ME Dear Mr. Lancaster: This letter documents our mutual understanding of the arrangements for the services described herein. Scope of Services Anderson‚ Olds and Watershed (AOW) will audit the balance sheet of Apollo Shoes as of December 31‚ 2011 and the related statements of income‚ retained earnings and cash flows for the year then ended. Our audit will be conducted in accordance
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Sales by venturers. 4. Joint Venture Cash 14‚300‚000 Joint Venture 14‚300‚000 Sales by salesmen 5. Joint Venture 684‚000 Joint Venture Cash 684‚000 Venture expenses 6. Joint Venture 72‚000 Income from Joint Venture 72‚000 Salaries to Roland as managing partner
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Handout Cases on Revenue Recognition CASE 1 The Sea-Soft Water Company distributes its water softeners to dealers upon their request. The contract agreement with the dealers is that they may have 90 days to sell and pay for the softeners. Until the 90-day period is over‚ any softeners may be returned at the dealer’s expense and with no further obligations on the dealer’s part. If the water softeners are damaged while in the hands of a dealer‚ Sea-Soft agrees to accept the return of the
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Omantel Management Discussion & Analysis Report – Year Ended 31st December 2007 The management of Oman Telecommunications Company SAOG (Omantel) is pleased to present to the shareholders of the Company‚ a detailed report covering analysis on industry structure and development‚ opportunities and threats‚ future outlook‚ risks and concerns‚ detailed analysis on operational performance and other major activities of the year 2007. BRIEF HISTORY: Omantel is the leading telecom operator in the Sultanate
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Group Assignment ACADEMIC YEAR MAY 2013 – SEPTEMBER 2013 Financial Management 1-BA205 Comparison of Company Share between Oriental Food Industries Sdn Bhd & Apollo Food Holdings Berhad Prepared by: Chooi Yuo Wen (1000821207) Ho Phui Phui (1001027555) Kueh Shi Ying (1001025652) Low Sook Teng (1001027932) Pang Kae Khai (1001232137) 1 Contents 1.0 Introduction ..................................................................................................................
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Throughout the short stories‚ “Apollo” by Chimamanda Ngozi Adichie‚ and “The two brothers” by Leo Tolstoy‚ the authors reveal that happiness is achieved by doing what you love. One example of this concept is in the short story Apollo. The narrator is talking about what he loves to do. He says “What I loved was kung fu. I watched “Enter the Dragon” so often that I knew all the lines‚ and I longed to wake up and be Bruce Lee. I would kick and strike at the air‚ at imaginary enemies who had killed my
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Revenue and Capital Expenditure Revenue and Capital expenditure are slightly different. Revenue expenditure is money that is spent on items that are only going to be used once‚ such as printer paper‚ stock‚ repairs‚ petrol etc. These items would go under expenses in the profit and loss account and would be included as part of revenue in balance sheet. Capital Expenditure is money spent by a business on items that are going to be used more than one time‚ for example machinery‚ buildings and
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Ethical Aspects of Revenue Management Revenue management is quiet new department in hotels. The main goal of this department is to divide inventory and set the right price for the right room at the right time. It is all about increasing sales and revenue‚ and for some people everything related to the cash flow is unethical. But what is the right price? For what target it is working? Is it ethical or no? This questions would be discussed in the following paper. But first of all lets define so
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Revenue and sales maximization Revenue maximization Maximizing sales revenue is an alternative to profit maximization and occurs when the marginal revenue‚ MR‚ from selling an extra unit is zero. The notion that business firms (especially those operating in the real world) are primarily motivated by the desire to achieve the greatest possible level of sales‚ rather than profit maximization. On a day-to-day basis‚ most real world firms probably do try to maximize sales rather than profit. For firms
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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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