Unearned revenues are revenues that are received before the company delivers goods or provides services. Some industries that have unearned revenues would include magazine publishers as they only receive checks from customers once the magazine is ordered. Until then the company awaits payment and does not have this in advance. Another company would be airlines because they receive cash once the tickets are sold for future flights. Unearned revenue is used by any company that accepts payments or deposits
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Bureau of Internal Revenue (Philippines) The Bureau of Internal Revenue (Filipino: Kawanihan ng Rentas Internas‚ or BIR) is an attached agency of Department of Finance. BIR collects more than one-half of the total revenues of the government. Functions The powers and duties of the Bureau of Internal Revenue are: Assessment and collection of all internal revenue taxes‚ fees and charges; and enforcement of all forfeitures‚ penalties‚ and fines connected therewith‚ including the execution of judgments
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Public Revenue Reporting and Monitoring The main sources of public revenue are: Taxes and levies such as for e.g. income tax‚ property tax‚ sales tax‚ license fees‚ import and export duties‚ levies charged for services etc Earnings from natural resources like oil‚ gas‚ minerals etc Loans from other governments‚ the private sector‚ or international financial institutions like the International Monetary Fund‚ World Bank and regional development banks that must eventually be repaid with
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Ayesha Evarts year 12. “moving into the world means confronting society” To what extent is this demonstrated in your prescribed text and at least ONE related text? Moving into the world means confronting society. By doing this it involves change both physically‚ mentally and challenges through obstacles. This is shown in the play “Educating Rita” Willy Russell and the book “Piggybook” by Anthony Browne. Both these texts engage on confronting society and going higher in the working class world
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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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Just like any other business that keeps track of claims for payments the health care industry also has a system of their own called The revenue cycle. The revenue cycle manages claims processing‚ payment and revenue generation. Meaning the process includes keeping track of claims and making sure payments are collected and denied claims are addressed in an appropriate manner. In present times health care industry is a very complicated in terms of managing the services provided. A physician must document
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course: This week you learned about the unearned revenue account. Provide three examples of unearned revenue. Answer: Three examples of unearned revenue would be 1.Prepaid Expense - A year long insurance contract a company paid $12‚000 for at the beginning of the year. Since the insurance company owes the company service‚ the expense prepayment is recorded as an asset Journal Entries: debit Prepaid Insurance and credit Cash). 2. Unearned Revenue - A year long subscription of $12‚000 is received
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in a rented apartment while she is carrying that bag o.” The truth is‚ this is now the norm in the entertainment industry. People try so hard to live the glamorous life‚ thus struggling on a daily basis to maintain the high life. Entertainers in Nigeria today now want to live like our American counterparts who obviously earn more money and have a better structured system where they are paid royalties. A system where credit facilities are available‚ such that you can drive a $100‚000 car without having
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CHAPTER ONE 1.1 INTRODUCTION The interest in poultry and poultry products have grown tremendously in the last 20 years faster than other food-producing animal industries on how the bird products are produced‚ processed‚ consumed and marketed. Almost every country in the world has a poultry industry of some kind. The biggest challenge of commercial poultry production is the availability of good quality feed on sustainable basis at stable prices. In spite of this challenge‚ commercial poultry production
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International Marketing Plan Report (Pizza Hut) (Target Market-Nigeria) Submitted to: Dr. Jawahitha Sarabdeen Subject: Marketing in a Global Economy (TBS982) Due date: 5th December 2013 Prepared by: Nithin Suresh 4465702 Noel Philip 4471350 Mohammed
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