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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Inventory Management Apple Inc. and Dell Inc. XXXXXXXX BUS430 Operations Management OM4 Strayer University Dr. James Collins June 13‚ 2014 Introduction Every company irrespective of the type of product or service that it sells holds a form of inventory in its daily business operations. Inventory is generally held in the form of finished goods‚ work in progress i.e. unfinished products as is normally the case in manufacturing and raw materials. Inventory is considered a current asset in
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| | | |due to defective floors |Floors are maintained in good state of repair‚ |Yes or No | | |due to effective floors |Floors are shiny and polished to be slippery
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ACCOUNTING CO-ORDINATOR: P Gopaul Siphesihle Secondary PRODUCTION COST STATEMENTS LO2: AS 2: MANAGERIAL ACCOUNTING Prepare ‚ present‚ analyse and report on cost information for a manufacturing Enterprise by compiling a production cost statement. 1. The financial statements of manufacturing enterprises The financial statements of the manufacturing enterprise differs very little from those of the merchandising enterprise. Account titles on the balance sheet of the manufacturer are similar to those
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America: A Nation Divided. In George Washington’s Farewell Speech on September 19‚ 1796‚ he warned against political parties as follows: The alternate domination of one faction over another‚ sharpened by the spirit of revenge natural to party dissention‚ which in different ages & countries has perpetrated the most horrid enormities‚ is itself a frightful despotism. But this leads at length to a more formal and permanent despotism. The disorders & miseries‚ which result‚
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OPERATING M86-02 8086 BASED MICROPROCESSOR --------------------------------------After power on the system we have the following text displayed on LCD. If the text is not displayed‚ press reset button. (Note reset always brings LCD to this initial position). Press enter to see the main menu as shown The following we describe the function of each command A= ASSEMBLE This command is used to convert input assembly language into the machine language. To activate simply press ‘A’ on main menu
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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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Construction assembles residential houses. It uses a job-costing system with two direct-cost categories (direct materials and direct labor) and one indirect-cost pool (assembly support). Direct labor-hours is the allocation base for assembly support costs. In December 2010‚ Amesbury budgets 2011 assembly-support costs to be $8‚300‚000 and 2011 direct labor-hours to be 166‚000. At the end of 2011‚ Amesbury is comparing the costs of several jobs that were started and completed in 2011. Laguna Model
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That is a very nice experience. Now I will tell you a true story about a patient; I am proud of her courage and goodness. It happened three years ago; the patient was a thirty–five year old woman. She had a beautiful face‚ high education level‚ and a good job. She had a big problem‚ however. In the seven years she had been married‚ every time when her pregnancy reached twelve weeks‚ the baby died. As a result‚ she had an abortion three times. The doctor said that her female hormones had some problems
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Should guns be sold to anyone? Gun violence happens all around the world on a daily basis. Being able to buy a gun regardless of who you are is being taken advantage of tremendously. Being able to buy a gun without a background check is absolutely pathetic. They are putting the world at risk because they do not know why the buyer is buying this weapon and what they are going to use it for. The buyer might possibly go out on a mass shooting spree and kill many innocent lives. This is why we need to
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