Revenue Recognition: Apple Inc. THE COMPANY Our analysis of Apple Inc. will incorporate the general overview of the company and how it records it revenues. We will observe how they make an honest effort to be within compliance of all accounting standards according to the Financial Accounting Standards Board for recording and disclosure of its income. Apple’s leading competitor‚ Google Inc.‚ will also be examined to see whether they are comparable to Apple and still within compliance of the Securities
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2014-09 "Revenue from Contracts with Customers” Jade Nelson ACCT 4111-01 10/28/2014 Over the past few years‚ the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have been working closely together to develop a new set of revenue recognition standards in an effort to merge the standards of FASB and IASB‚ lessen the amount of industry-specific differences in the standards‚ and make the standards more principles-based. Because revenue is very
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Substantive Audit Testing: Revenue Cycle 1. Substantive Audit Testing: Revenue Cycle 2. MULTIPLE CHOICE: 3. 1. Which of the following might be detected by an auditor’s review of the client’s sales cut-off? 4. a. Excessive goods returned for credit. 5. b. Unrecorded sales discounts. c. Lapping of year end accounts receivable. d. Inflated sales for the year. 6. ANSWER: D 7. 2. Which of the following forms of evidence represents the most competent evidence that a receivable actually exists? 8. a. A
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Parts of a prescription 1. Prescriber information: The doctor’s name‚ address and phone number should be clearly written (or preprinted) on the top of the prescription form. Some states require the doctor’s state license number to be on the form. It is not recommended that you preprint your Drug Enforcement Administration (DEA) number on the prescription pad. It becomes too easy for drug abusers to lift a few prescription forms for illicit use if that number is easily available. The DEA number is
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Revenue expenditure is an expenditure which on cost of doing business on day to day basis and is necessary to be cover to maintain the business going on effectively. Thus‚ revenue expenditure is the cash or credit that being spent immediate for short-term purpose‚ example‚ expenses on assets such as repair and fuel which will or will not improve the value of the given assets. Capital expenditure is an expenditure which will cause future benefit to the company. It’s the money that spends on the
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and have good quality life‚ but some country have policies about family member or how many child each family can have. Country 1 | Country 2 | Afghanistan | Algeria | Bahrain | Argentina | Ethiopia | Chile | Mali | Cote d’Ivoire | Nepal | Ecuador | Rwanda | Egypt‚ Arab Rep. | Timor Leste | Haiti | Country 1 = Country with high population growth Country 2= Country with low population growth All of these countries are developing countries‚ where the comparison data is used from
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go through the motions‚ but to be good citizens we should believe in‚ protect‚ and defend the freedoms we were granted when this country was founded. These freedoms were based on what the founding fathers valued‚ and these values are the foundation of our democracy. What I value most as an American is justice‚ equality‚ and individual rights. First‚ justice is similar to the idea of fairness. This means there are consequences for both good and bad. If a person does something good‚ they should be
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A community of Practice using a discussion forum
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strategy involves working in an industry and striving to make more money‚ usually by retaining customers and gaining new customers from competitors. To gain customers from competitors‚ business need to seem as though they have better quality and higher value. This is where marketing strategy comes in‚ using research in consumer behavior to identify needs and produce messages that tell consumers how the business’s product is better than competitors. Types of Corporate Competitive Strategy In a low-cost
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REVENUE ALLOCATION FORMULA IN NIGERIA INTRODUCTION Prior to the discovery of oil in Nigeria‚ other sectors of the economy thrived. Agriculture‚ for instance‚ was a major source of revenue for the Western Region. The Eastern Region that was less endowed devised other sources of revenue. All this has however changed since the discovery of oil in the country. This has led to the demise of the other productive sectors of the economy. In fact‚ Nigerians are poorer today than they were in the pre-oil boom
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