a) -Revenues are inflows of assets or settlements of liabilities or both. Revenues come from activities of the entity’s central operations. -Gains are increases in net assets and from peripheral or incidental transactions of an entity. -The difference between gains and revenues depend to a great extent on the typical activities of a company. For example‚ when McDonald’s sells a hamburger‚ it records the selling price as revenue. However‚ when Mc Donald’s sells land‚ it records any excess of
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Lucent Technologies Case Yulissa T. Ortiz Salgado March 30‚ 2013 Financial Reporting: Peeking Under the Financial Hood Mrs. Darcie Sargent The Lucent Technologies is a company that helps creating new revenue generating opportunities for customers through the communication service. We all know how useful and important communication services have become throughout the years. Lucent Technologies is compounded of three organizations around the products and they are: Integrated Network Solutions
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“Lucent technologies is a company that designs and delivers the systems‚ software and services that drives the next generation communications networks. They are backed by Bell Labs research and development” (Fraser & Ormiston‚ p 79‚ para 2). “They use their strengths in mobility‚ optical‚ access‚ data and voice networking technologies‚ as well as services‚ to create new revenue generating opportunities. This makes it possible to help them better manage their networks. Their customers include
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Lucent Technologies Caser University of Phoenix Axia College Acc 230 October 3‚ 2010 Lucent Technologies After reviewing the Case Review of Lucent Technologies‚ it was apparent the Lucent Technologies assets suffered a large decline between the years of 2003 and 2004. In 2003 the current assets consisted of 49.4% of their total assets while in 2004 the current asset percentage decreased to 48.5%. After a more close and thorough evaluation‚ it is apparent that the inventory did increase
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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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Prior to 1996‚ Supply Chain Strategy used by lucent technologies was adequate because Asian customers were away from order processing and manufacturing activities. All the orders were placed with AT&T‚ processed in New Jersey and then placed with factory for production in Oklahoma City. From there‚ the parts and subassemblies were shipped to staging center in California. So‚ Shipments to Asian customers were made directly from the United States. Asia was only related with supplying parts along
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Lucent Technologies Evaluate the asset‚ debt‚ and equity structure of Lucent Technologies‚ as well as trends and changes found on the common-size balance sheet. After reading case 2.1 about Lucent Technologies we see that their assets had a big decline from the years 2003 to 2004. The one thing that was good was that Lucent’s inventory holdings where able to rise during those years. In the case Lucent’s current assets of 2003 made up 49.4% of the company’s total assets. But as we see in 2004
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STANFORD UNIVERSITY D CASE NUMBER: GS-01 JANUARY 2001 O LUCENT TECHNOLOGIES: GLOBAL SUPPLY CHAIN MANAGEMENT N For our business‚ traditional manufacturing is not strategic‚ but world-class supply and demand chain management and product reliability‚ are. - George Foo‚ International Manufacturing Vice President‚ Lucent Technologies1 O As they met in Hong Kong in early 2000‚ George Foo‚ International Manufacturing Vice President for Lucent Technologies‚ and his key staff reviewed
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furniture and seating furniture Encore Seating‚ Inc. March 19‚ 2012 3. 4052720 registration Management of vehicular traffic flow through advanced communications network and technology; Providing road and traffic information; Traffic information services; Transportation consulting services; Transportation information Lucent Group Incorporated April 5‚ 2011 4. 3234940 Registration Floor finishing preparation Buckeye International‚ Inc. June 15‚ 2005 5. 3330996 Registration MEDICAL DEVICES‚ NAMELY
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The issue of revenue recognition practices is an area that has received a lot of attention from regulators. Whenever there is a report of financial restatements or negative earnings‚ regulators pay extra attention to review the financial statements in order to verify that that there are not any indications of financial fraud or that the organization overstepped their boundaries in the area of managed earnings. The reason that regulators have taken a special interest in financial accounting and potential
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