A: The primary criteria the auditor should use in determining revenue to be recognized are: (1): persuasive evidence of an arrangement exists. (2): Delivery has occurred or services have been rendered. (3): The seller’s price to the buyer is fixed or determinable. (4): Collectability is reasonably assured. The most basic principle for revenue recognition is revenue has been realized or realizable and earned. B: (1) a: Multiple deliverable. Does the software and one year internet service has
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Case Problem: Specialty Toys Specialty Toys‚ Inc.‚ sells a variety of new and innovative children’s toys. Management learned that the preholiday season is the best time to introduce a new toy‚ because many families use this time to look for new ideas for December holiday gifts. When Specialty discovers a new toy with good market potential‚ it chooses an October market entry date. In order to get toys in its stores by October‚ Specialty places one-time orders with its manufacturers in June or July
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different rates under various circumstances. This is where revenue management plays an important role; to fill at least a minimum number of rooms without selling every room at discount prices; the idea is to sell enough rooms to cover fixed operating expenses. Once fixed expenses are covered‚ and there are now only fewer remaining rooms to sell‚ they could then sell the remaining rooms at higher rates to maximize revenue and profits. The term revenue management was shortly introduced after the airline
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Like most children‚ I too had many toys‚ games‚ stuffed animals‚ and dolls. The toy box was always overflowing with toys that I just couldn’t live without. I’m sure my mother dreaded taking me into any place that had a toy isle. I can see myself now riding on the end of the buggy expressing to her how much I needed a new toy. Using the age-old speech about how good I’d been that day. And of course how I would continue my good behavior if I could only have the toy I had my heart set on. Although
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Revenue Cycle Education Improvement Strategies Presented by: Colleen Malmgren‚ MS‚ RHIA Fairview Health Services cmalmgrl @fairview.org Definition of Revenue Cycle All administrative and clinical functions that contribute to the capture‚ management and collection of patient service revenue *HFMA Scheduling/Registration Health Info Mgmt Case Management Pt Financial Srvcs Charge Capture Revenue Audit Chargemaster Establish Performance Indicators Establish measures that go beyond Accounts receivable
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Chapter 4 The Revenue Cycle Objectives for Chapter 4 • Tasks performed in the revenue cycle‚ regardless of the technology used • The functional departments involved in revenue cycle activities and the flow of revenue transactions through the organization • The documents‚ journals‚ and accounts that provide audit trails‚ promote the maintenance of records‚ support decision making‚ and sustain financial reporting • Risks associated with the revenue cycle and the controls that reduce these risks
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Costs and Revenues What is cost? If you go to a store and like an item and you want to buy it‚ which of the following questions would you ask: What’s the price of …..? 0R How much does …. cost? Examples of costs – set-up Examples of costs - running Fixed Costs 5000 What happened to the fixed costs if for some reason the company had technical problems and was unable to produce for 2 weeks? What happens if the landlord decided to raise the rent due to high property prices
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Feral Cats have become a large problem in Oregon‚ as well as surfacing across the nation. Feral Cats should be Trapped‚ Neutered‚ and Released instead of being Trapped and Killed. The Cats should only be euthanized in the case of irreparable diseases. These cats deserve animal liberation in the sense that they feel pain just as we as humans do‚ and we as humans possess the moral duty to prevent that pain. With a non-egalitarian view of Biocentric Individualism view on things we can determine
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landscape is more competitive and more complicated than ever before. With revenue management’s recognized contribution to the industry and the majority of hoteliers employing revenue management as part of their overall hotel discipline now is the time to focus on core competencies that incorporate both strategic and tactical skills and initiatives. The paper presents a literature review of the key concepts of hotel revenue management (RM) and current state-of-the-art of its theoretical study. The
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Toys: The Affect they have in our Children The way society is today‚ children cannot help but to have social and emotional problem from toys. To be honest‚ it is not he kids with the problem‚ it is the adults. For the most part children can play with toys no matter which ones and be happy‚ but because we live in a gendered role society each toy is made for specific gender. Barbie’s for girls and trucks for boys. Parents forget that toys are there to help our children develop social skills not mold
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