GP subtotal) 2 REVENUE 21/5/2013 Profit = Income – Expenses “Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in increases in equity‚ other than those relating to contributions from equity participants” Income includes Revenue and Gains Kumail Rizvi‚ PhD‚ CFA‚ FRM 3 IASB‚ IAS NO. 18‚ REVENUE Conditions for recognizing revenue 21/5/2013
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intrusion detection and prevention (IDP)‚ and virtual private network (VPN) solutions‚ reached $7.4 billion in 2011. UTM revenue saw the strongest growth at 17.4% and reached $2.2 billion. The IDP market saw more moderate growth at 4.5%‚ reaching $1.9 billion. The firewall segment remained the largest component of the market at $2.4 billion but grew only a modest 2.9% over 2010. Revenue from standalone VPN solutions fell 5.3% to $0.9 billion. IDC expects the firewall and VPN segments to remain fairly
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boosting ROE is to repurchase shares of stock‚ which has the effect of reducing shareholders’ equity investment in the company (the denominator in the ROE calculation). Operating profit margin is defined as operating profits divided by net revenues (where net revenues represent the dollars received from camera sales‚ after exchange rate adjustments and any promotional discounts). A higher operating profit margin (shown on p. 6 of the GSR) is a sign of competitive strength and cost competitiveness. The
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markets from the effects of war and terrorist activities could adversely affect ability to obtain production supplies or sell chicken products. Financial Statement Accounts/Disclosures that could be affected: Going concern disclosure‚ cost of sales‚ revenue‚ inventory The company may not be able to continue as a going concern or may have to pay more to produce poultry or not be able to obtain supplies
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new standard. E 4-4 a) Multiple-Step Webster Company Income Statement For the Year Ended December 31‚ 2012 [In thousands‚ except Earnings Per Share] Sale Revenues……………………………………………………………….....$96‚500 Cost of Goods Sold……………………………………………..…………….…63‚570 Gross Profit…………………………………………………………………...…32‚930 Operating Expenses Selling Expenses Sales Commission..............................$7‚980 Depreciation
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BAUMOL’S MODEL OF SALES REVENUE MAXIMISATION Maximising sales revenue is an alternative to profit maximisation and occurs when the marginal revenue‚ MR‚ from selling an extra unit is zero. Revenue maximisation graph (ref: The condition for revenue maximisation is‚ therefore‚ to produce up to the point where MR = 0 SALES MAXIMISATION Sales maximisation is another possible goal and occurs when the firm sells as much as possible without making a loss. Not-for-profit organisations
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criterion that they be available. 7. Sales tax should be recognized in the period in which the underlying sales transaction occurred. Sales tax originates from an underlying economic event‚ which are sales transactions. It is appropriate to recognize revenue at the time of the event. 8. Reimbursement grants are payments that are intended to reimburse specific types of expenditures for designated purposes or activities. Entitlements are payments that usually come from a higher level of government. A
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Discretionary Revenues as a Measure of Earnings Management Stephen R. Stubben The University of North Carolina at Chapel Hill ABSTRACT: This study examines the ability of revenue and accrual models to detect simulated and actual earnings management. The results indicate that revenue models are less biased‚ better specified‚ and more powerful than commonly used accrual models. Using a simulation procedure‚ I find that revenue models are more likely than accrual models to detect a combination of revenue and
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the news article published by The Philippine Daily Inquirer‚ which had the opportunity to have a copy of the statements filed by ABC Development Corp. (TV)‚ was used. (All in Appendix 1) There is an industry wide decline in terms of advertising revenue in 2011 compared to 2010. This is due to high advertising spending in 2010 brought by political airtime purchased by the candidates of 2010 Presidential Election (ABS-CBN Annual Report 2011).To give a detailed and more meaningful comparisons about
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issue is the way Live Well Inc. deal with consignment and the recognition of revenue. As Live Well Inc. sells products through another party‚ being the sales coordinators‚ they cannot recognize revenue as the consignment of goods does not constitute a sale. They can only identify the revenue when the consignee sells the goods to a third party. This rule applies to both ASPE and IFRS standards. They currently recognize revenue upon shipment‚ however under the new IFRS 15 guidelines‚ this approach cannot
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