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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company’s revenue. This paper explains the fraud occurred in recognizing the revenue and how it overstated the financial statements and increased the stock price. It also explains the fraud theory applied to the revenue recognition and the auditor’s failure in discovering the fraud and reports it to the SEC. This paper will provide methods that auditors should follow in auditing public companies and the best practices they should follow if the company changed the revenue recognition. Background
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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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you would have to get rid of all the drug laws”. Although Ron Paul was an American politician‚ the quote is very fitting for one of the most notorious and leading producers of illegal drugs in the world‚ Colombia. Drug production was introduced in Columbia in the 1960s with production of marijuana‚ which was a gateway to the production of Cocaine in the early 1970’s. Why the production‚ and formation of huge Cartels‚ just to produce and distribute a psychoactive drug? Money! The return is huge and
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The country of Columbia found at the northern tip of South America‚ was first recognized in 1819. Within Columbia‚ there are five geographic regions; the Caribbean coast‚ pacific lowlands‚ Andes highlands‚ Orinoco Savanna and the Amazon Rainforest. The regional cultural traditions are mixed‚ with a broad assortment of distinct groups that have unique customs‚ accents‚ and social patterns. Within the Caribbean region of Columbia‚ the predominant ethnic group is the Pardo‚ a mixture of European‚ indigenous
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Columbia’s Final Mission video case is designed to help you understand how failures occur and how you might prevent them in your own organizational life. You have previously been assigned to play a role as a manager or engineer role and central figure in the team that managed this mission. Your password for your role is on the role group assignment page in Blackboard. You reach this page by clicking on Groups from the course home page‚ locate your assigned role and click on that group. If you
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Loyalty + De-commotization Intl Advertising 2015 Intl Advertising 2015 What is (are) the thing(s) that represent a Brand ? Intl Advertising 2015 Brand represents by … • • • • • • • Intl Advertising 2015 Product Name Company Logo Color Tag line … ? Intl Advertising 2015 Based on what did you cast your votes? Intl Advertising 2015 How would you describe Doritos TVCs • • • • • • • • Intl Advertising 2015 Funny Light-hearted Down-to-earth Slice-of-life A touch of surprise Simple Small
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NETW310 Week 3 Lab Report NETW310‚ Lab #3‚ Installation of Structured Cabling Lab Report Each answer is worth 2.8 points. Use a red colored font for you answers. Place the answers below the questions 1. How often are network standards reviewed? It would be every other 5 years 2. What category of UTP cabling is the minimum for a telephone cable? The cable would be a category 3 3. What category of cabling should be installed as a best practice for a telephone cable? It would
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Case Study: Allure Cruise Line – Challenges of Strategic Growth and Organizational Effectiveness Who are the “major players” in the North American cruise industry? The “major players” in North America cruise industry are‚ Carnival‚ P&O Princess (P&OP)‚ RCC and Star Cruises Group accounted for 69% of capacity in 2002. In 2006‚ with P&O Princess now part of Carnival‚ the top three reached over than 79%. In progress the top three “major players” would increase to 81% by 2010. With the emergence of
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Columbia There are two main actors in Columbia 1. Government 2. Guerrilla Groups. Cause of the unrest in Columbia: The Class Difference is the main cause. The elite class has started to gain control of the lower class and have developed their own organizations. 3 Main Guerilla Groups: FARC‚ the ELN and the M19. Purpose of Guerilla Groups: These are the rebels in the country who consider themselves as the elite class of the society. 1. Farc FARC takes in between $500 million and $600 million
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