3.6 Revenue recognition with examples when goods are sold under sale or return There are cases when payments are received prior to events that trigger revenue recognition. In that case‚ cash is debited and the unearned revenue is credited. On the other hand‚ when revenue recognition is triggered before actual payment is received‚ accounts receivable is debited while revenue is credited (“Revenue Recognition Principle‚” 2013). Goods are sold under sale or return when they are “sent by the supplier
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an investor. The topic that I have chosen to address is the issue of revenue recognition. Revenue Recognition Analysis I started by looking at EAs annual report (Form 10-K) for the fiscal year ending March 31‚ 2007. Revenue recognition is discussed in some detail.
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Vacuuming Using Voice Recognition Suziati Bt Salleh 1‚ Alaaaldin abdulrahman mohamed 2 Mechatronics Division‚ Faculty of Engineering University Selangor‚ Bestari Jaya Campus‚ Batang Bejuntai‚ Selangor Darul Ehsan‚ Malaysia 1 suziati83@yahoo.com ‚ 2alaa-oo7@hotmail.com II. Abstract— Voice recognition system these days plays a major role in most of the trendy machinecontrolled technologies. It easiness the communication between the user and system due to the non-necessity of the user’s
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and FASB release revenue recognition exposure draft What is the issue? On June 24th‚ the FASB and IASB issued an exposure draft proposing a new revenue recognition model that could fundamentally alter the way entities across a variety of industries recognise revenue. The proposal is an output of the boards’ joint efforts to develop a converged revenue recognition standard based on the same principles. A key objective is to increase the consistency of revenue recognition for similar contracts‚ regardless
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workplace comes from not only the patient but from their families as well as the visitors which goes unnoticed. In the article “Violence: Recognition‚ Management and Prevention”‚ it states that majority of the violence that occurs whether physical‚ mental or verbal goes unreported due to fear of safety and or job security. These unreported incidents of violence can in turn cause both short and long term mental health issues for the employees who were involved such
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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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= Q = 127‚500‚000 This has shown that the 18 wheeler trailer can be filling with 127‚500‚000 of Wellbutrin XL tablet. d. The revenue of each Wellbutrin XL tablet Wholesaler cost = $2.83 x = $2.096 Distributor cost = $2.096= $0.4192 e. Total revenue per truck 127‚500‚000 x $0.4192 = $ 53‚448‚000 One truck can carry $10million worth of Wellbutrin XL tablet product. Q2: How should the company recognize revenue based upon the two possible FOB structures mentioned in the case? In order to recognize
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Ideas for Non-Monetary Employee Recognition Promotion * If you want to give your employee a very meaningful non-monetary employee recognition gift‚ give him a promotion. The promotion does not have to be significant or associated with a raise--it could simply be a promotion by name only. If possible‚ give the employee more responsibility or supervisory privileges over a person or group as a reward for his past efforts. The possibility for future promotions of this nature that will move him up
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Choose two different brands (products). Discuss which form of brand awareness‚ recall or recognition‚ is likely to be involved with purchase decisions for brands in a number of categories‚ and why. Coca Cola Coca Cola has a strong brand awareness. The first thing everyone in the world will probably recognize are the colours red and white‚ these are the colours Coca Cola uses in their logo from the beginning. Related to these colours is the Coca Cola font that hasn’t changed a lot over the years
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To: Controller of LOI‚ Files From: Accounting Class Re: Recognition of Asset Retirement Obligations for Lack of Information Date: June 2‚ 2014 Background Lack of Information (LOI) owns and operates 50 warehouses throughout the country. As part of LOI’s efforts to identify potential asset retirement obligations‚ LOI’s internal audit group held interviews with all 50 of the warehouse managers and also performed site visits at each of the 50 locations. The related findings of the interviews and
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