Worldwide Wires “Revenue Recognition Woes” Introduction Worldwide Wires (“WW”) is a company that provides computer network and communications services around the globe. The company offers its services either directly to the customer or through a network of partners that are scattered around the globe. Their business model can be compared to that of a principal and an agent‚ with WW being the former and the partners being the later. The company and the partners enter into 5 year service agreements
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standards into a single‚ searchable system. The purpose of this system is to better organize accounting principles and laws to simplify user access. The nine content areas located in the system include Presentation‚ Assets‚ Liabilities‚ Equity‚ Revenue‚ Expenses‚ Broad Transactions‚ and Industry. Presentations offers guidance on income statement preparation‚ notes to financial statements‚ and for calculating earnings per share. The Assets section contains information on accounting for receivables
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DRAFT MANAGING LOCAL REVENUE IN INDONESIA Raksaka Mahi *) Prepared for: CAN DECENTRALIZATION HELP REBUILD INDONESIA? A Conference Sponsored by the International Studies Program‚ Andrew Young School of Policy Studies‚ Georgia State University‚ Atlanta May 1- 3‚ 2002 Introduction The role of local owned revenues had been very small for a long period of time. In the past‚ almost ninety percent of total district’s revenue came from central government transfers and subsidies. Moreover‚ those transfers
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aware of at least the basics of financial plans which are revenue‚ cost and profit. These three things can make or break a company. Each of these things must be understood and considered before plans can be laid to create or better a company. Revenue is the amount a company receives (Marginal Revenue‚ 2009). If a company is in the business of sales‚ revenue is the amount of money the company receives per unit sold. Marginal revenue is the amount of money a company receives for the last unit
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BEIJING INSTITUE OF TECHNOLOGY Course: Pattern Recognition TOPIC: IMAGE SEMGMETATION USING PATTERN RECOGNITION METHOD Student: SOVATANA HOUR ID: 2820120039 Year: 2012-2013 Content 1. Introduction - Image pattern recognition ..............................................................................1 - Image segmentation .............................................................................. 2 2. Relative work to region-based approach on image segmentation 2.1 Feature extraction
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4011 APRIL 7‚ 2009 CRAIG CHAPMAN Biovail Corporation: Revenue Recognition and FOB Sales Accounting Background Late on October 9‚ 2003‚ David Maris‚ an analyst at Banc of America Securities (BAS)‚ was trying to interpret the shocking events of the previous few days and finish the write-up of his first report on the Canadian pharmaceutical firm‚ Biovail Corporation. Maris didn’t like what he saw at the company‚ but he never liked writing “Sell” recommendations. In any event‚ he wanted to make
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into different sectors of the sporting goods industry. Kevin Plank and his company’s problem is that their footwear only makes up for about 15% of the firms revenue and they only generate about 6% of their revenue in international sales. In order to compete with the top brands in the industry‚ Under Armour must find a way to raise the revenues on its footwear and enter into the global market. SWOT Analysis Strengths * Brand Equity * High Profit to Earnings Ratio * Collegiate and Professional
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current revenue recognition policy (ies)? As of 1999 annual report‚ the company recognizes the revenue upon shipment. But this will change with SAB 101. The company will wait until the delivery and customer acceptance to recognize the revenue In addition to that they also calculate the estimated warranty costs. The company recognizes the service revenues as the services are provided (not before the services are provided) The Company does not count in service revenue with other revenues (revenues
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products = = 0.21 2. How should the company recognize revenue based upon the two possible FOB contract structures mentioned in the case? Explain. Under “FOB Shipping Point” contract structure: According to the definition‚ the buyer takes responsibility for the goods as soon as they leave the seller’s premises. Therefore‚ if the contract between the distributor and Biovail is “FOB Shipping Point”‚ then Biovail should recognize the revenue once the truck left its manufacturing facility in Manitoba
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characteristics. Biometric devices grant users access to programs‚ systems‚ or rooms by analyzing some biometric identifier‚ such as a fingerprint or eye pattern. Two commonly used types of biometric security devices are fingerprint readers and iris recognition systems. A fingerprint reader captures the curves and indentations of a fingerprint. Fingerprint readers can be set up to perform different functions for different fingers. For example‚ the index finger could start a program‚ and the ring finger
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