Chapter 10 Auditing the Revenue Process SEC SAB101: Revenue recognition 1. 有persuasive evidence 有证据 2. Delivery occurred‚ service rendered，东西给了服务于需求 3. Price is fixed/determinable 价格固定 4. 有collectability钱收的回来 Fraud Risk in Revenue cycle: 欺诈风险 1. Side agreement: off-book‚ adjust record to entice customer 2. Channel stuffing: 填塞分销渠道，造成销售假象 inflate sales by forcing product through a distribution channel 3. Related party transaction: 实质重于形式原则substance over form是指企业应当按照交易或事项的经济实质进行会计核算，而不应当仅仅按照它们的法律形式作为会计核算的依据
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Inside Toyland is a gem — a well-written examination of politics‚ inequality‚ racism and working conditions in the context of the toy store. In order to gain a firsthand look at the intricacies of retail work‚ Williams conducted her research by participant observation. She worked at two toy stores. Both stores are a part of national chains and at the time of her research employed about 70 workers. Despite the fact that both stores sell similar merchandise‚ and include large inventories of electronics
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Fisher- Price has an industry wide reputation of producing high quality toys with strong construction‚ good engineering and attractive design. Fisher-Price is the best-known brand for preschool toys (64.7%) with a market share of 74.7%. Moreover Fisher Price was also ranked highest at 82.7% in the brand loyalty measure for toys purchased most often. Observing their sales history and the growing market demand for toys I feel that fisher should commence the production by investing in one mould
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Revenue and sales maximization Revenue maximization Maximizing sales revenue is an alternative to profit maximization and occurs when the marginal revenue‚ MR‚ from selling an extra unit is zero. The notion that business firms (especially those operating in the real world) are primarily motivated by the desire to achieve the greatest possible level of sales‚ rather than profit maximization. On a day-to-day basis‚ most real world firms probably do try to maximize sales rather than profit. For firms
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Mattel and Toy Safety Mattel‚ the world’s largest toys company‚ had been faced with some rough challenges due to some safety scandals revolving toy design and manufacturing in China. During August 2007 Mattel was forced to extremely recall toys due to loose magnets and excess lead found in some of the Mattel toys that posed immediate danger to the children that played with them. “Mattel voluntarily recalled 1.5 million Chinese made‚ Fisher-Price product‚ after the company learned that they
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Catawba Industrial Company Assignment Questions and Memo Instructions 1. Is the company correct in its practice of not manufacturing standard model compressors on Sundays because of the accounting loss incurred on each unit? 2. The compressor department and its manager are evaluated based on profit. Compute the compressor department profit with and without Sunday production. 3. If Marge McPhee decides to manufacture ten light-weight compressors each week and to sell them at a price of
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evening his mother showed him the toys and games her friend had got for him. One stuffed dolphin and a game of blocks. Ronit got angry. “These are kids toys‚ kids toys and games. I am a big boy now. My hero is Spiderman. That’s the toy I want for my birthday this year. Spiderman and the spray that makes the spider web.” “Are you saying you no longer want your favourite stuffed toy – pepper the doggy?” Ronit’s mother asked. “I don’t want kids toys‚ I don’t want kids toys and games any more. I am a BIG
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Piaget’s Toy Experiment: What is safe for our children? Bergen Community College Abstract Piaget believed everyone had to go through each stage of development. Although some kids may show characteristics of more than one stage at a time‚ he was certain that cognitive development always followed the sequence of the stages‚ stages cannot be skipped‚ and each stage is marked by new intellectual abilities and more complex understandings of the world. With this experiment I will prove how each toy can
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Strengths: Revenue Growth: In 2008‚ FedEx reported revenue of $38 billion; in 2012 the company reported revenue of $42.7 billion‚ representing a year over year annual growth rate of 2.96%‚ and while this may not seem like an explosive number‚ the caliber of growth is solid and expected to accelerate into the future‚ with 2015 revenues reaching nearly $49 billion. Established Distribution System: The company possesses a massive fleet of airplanes‚ trucks‚ locations‚ and employees‚ and is distinctly
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Sony Eye Toy 1 G R OUP 2 : DA N I K USW A NTO ( 12 400036 7 1) DENNY J C HANDR A ( 12 40002 611 ) FR A N S I S C US A SI NG G I H ( 12 40003 71 5) S I R EG A R SI DDI K ( 12 400036 3 3 ) VI TA HEL I A DESY ( 12 40002 78 2 ) Table of Content 2 Background Business & Industry Backround Sony Eye Toy Product Analysis Concept Development Marketing Strategy Market Performance Product Development Pipeline Future of EyeToy $62 billion annual sales (2004) • Sony Computer Entertainment
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