Introduction Flat Cargo Berhad(FCB)‚ an air cargo company that was listed in Bursa Malaysia on the 15th of September 2001 was one of the largest airfreight companies in Malaysia. The company servicing several government linked companies including Freight Malaysia Berhad and other private company like Citylink‚Nationwide Express and Nippon Express. It was registered as an investment holding company with several subsidiaries with principal activities ranging from air freight services and ground handling
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Treatment for price protection and price protection _____________________________________________________________________________________________ The revenue recognition principle states that‚ under the accrual basis of accounting‚ you should only record revenue when an entity has substantially completed a revenue generation process; thus‚ you record revenue when it has been earned. Sales return is the return of merchandise by a customer. In accordance with generally accepted accounting principles‚ when
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consideration during valuation Factor 2 Question 1 2 3 4 5 6 High Expected Growth (1985 to 1999) • Revenue: USD 140 Million to USD 20 Billion • Net income: USD 24 Million to USD 8 Billion • Beat analysts’ expectations for 52 out of 53 quarters Factor 3 Question 1 2 3 4 5 6 Conservative Accounting Policies • Software Development Costs – Q2 • Revenue Recognition – Q3 • Depressing the company’s book value of equity Q2. capitalization policy have on its financial
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Governmental and Nonprofit Accounting March 2014 - CPA EXAM Quiz – Answers and Explanations [1] Net assets is an element of the financial statements of not-for-profit entities (NFPs). It A. Net assets equal the residual interest in the assets of an entity that remains after subtracting its liabilities. For a business enterprise‚ equity (the ownership interest) is the analogue of net assets. In an NFP‚ which has no ownership interest in the same sense as a business enterprise‚ the net assets
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reporting issues a. Should Lighthouse recognize revenue for the sale of the equipment at the moment of sale? b. Should Lighthouse recognize revenue from the service provided separately from the sale of the equipment? c. Should the revenue for sale of the device and sale of the service be recognized differently when there is a Multiple-Element Arrangement? III. Authoritative basis for the alternatives to the financial reporting issues 605 - Revenue Recognition 10 - Overall 05 - Overview and
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low reliability in part by requiring end-of-period oil and gas prices to be used (rather than prices anticipated when the reserves are expected to be sold)‚ management may feel that end-of-year prices bear little relationship to the actual net revenue the company will receive in the future. Furthermore‚ management may be concerned about low reliability of other estimates‚ such as reserve quantities. • Frequent changes in estimates. Conditions in the oil and gas market can change rapidly‚ making
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Joan Holtz (D)* 1. 2010 late-night talk show indicated the existence of an unclaimed municipal bond issued in 1883 by a town in Missouri. The bond was $100 with an interest rate on 10%. At a compound interest‚ what would be the bonds value in 2010. 2. (a) Joan read that a company issued eight-year‚ zero-coupon bonds at a price of 327 per 1‚000 par value. The question asked‚ was the yield on these bonds 15 percent‚ as Joan had calculated. Yes! (b) Assuming that bond discount amortization
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15-25 6A Identify point of revenue and expense recognition. Moderate 15-20 7A Calculate revenue at various points of recognition. Moderate 20-30 8A Calculate revenue‚ expense‚ and gross profit – percentage-of-completion and zero profit methods. Moderate 15-25 9A Revise revenue‚ expense‚ and gross profit – percentage-of-completion. Complex 15-25 10A Calculate revenue‚ expense‚ and gross profit – percentage-of-completion method. Moderate 20-30 11A Revenue recognition
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Economics of multiplexes in India : A study of the PVR group(2009-11) The revenue generation techniques of the cinema halls have been one of the least explored areas of the communication studies. This essay is an attempt to look at the revenue generation strategies of the PVR Group‚ specifically‚ two halls‚ PVR Plaza and PVR Rivoli‚ located at Connaught Place‚ New Delhi. The financial year 2008-09‚ that is in focus here for the purpose of study‚ was marked as a particularly slow year for the Indian
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expenses and revenue Deferred expenses and revenue Accounting for supplies Accounting for depreciation Accrued revenue Unearned revenue Accrued salaries Accrued interest Accrued taxes Concept of materiality Skills Analysis Analysis Analysis Analysis Analysis Analysis Analysis Analysis Analysis Judgment‚ communication‚ analysis Exercises 4.1 4.2 4.3 4.4 4.5 4.6 4.7 4.8 4.9 4.10 4.11 4.12 4.13 4.14 4.15 Topic Accounting terminology Effects of adjusting entries Deferred expenses and revenue Deferred
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