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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If you are starting out in a new business‚ especially a service/manufacturing business‚ understanding the cost accounting system and which cost accounting system will work best for your company‚ is the first step to being successful. Once you find someone to help you navigate those waters‚ let them help you sail the rough seas of direct and indirect inventory‚ direct and indirect labor costs‚ and how to allocate factory overhead as well. While it all may sound confusing‚ having the right person
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Discussion Section Principles of Microeconomics Suggested Answers for Problem Set #1 Professor Scholz 1) Portray the following hypothetical data on a two-variable diagram: Enrollment Data: Nowhere U Academic Year 2000-01 2001-02 2002-03 2003-04 2004-05 Total Enrollment 3000 3100 3200 3300 3400 Enrollment in Economics Courses 300 325 350 375 400 Measure the slope of the resulting line‚ give an algebraic representation of the line‚ and explain what the slope means. Answer: Find the slope of
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thirty years earlier. For Fathers’ Day‚ I treated myself to a superhero movie called the “Fantastic Four”. Surprisingly‚ I found the movie to be entertaining‚ for it had an interesting plot‚ strong characterization and believable-looking special effects. The plot is the sequence of events in a story. A good movie needs a good plot if it hopes to make mountains and mountains of money. In the “Fantastic Four” the story was just long enough to cover all the important information that comic book readers
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Multiple Choice Questions 16. Which terms would make the following sentence true? Manufacturing companies that benefit the most from activity-based costing are those where overhead costs are a _________ percentage of total product cost and where there is ___________ diversity among the various products that they produce. A) low‚ little B) low‚ considerable C) high‚ little D) high‚ considerable 17. Would factory security and assembly
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statements. b. analyzing data. c. performance reports. *d. economic events. 4. _______________ is devoted to providing information for external users. a. Management accounting *b. Financial accounting c. Internal accounting d. Cost accounting 5. Financial accounting information is used for a. investment decisions. b. regulatory measures. c. stewardship evaluation. *d. all of these. 6. Which of the following is NOT part of the financial accounting information
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CLASSIFICATION ESSAY Types of Nutrients A healthy diet is one that helps maintain or improve general health. It is important for lowering many chronic health risks‚ such as obesity‚ heart disease‚ diabetes‚ hypertension and cancer. A healthy diet involves consuming appropriate amounts of all essential nutrients and an adequate amount of water. Nutrients can be obtained from many different foods‚ so there are numerous diets that may be considered healthy. For me‚ I think that there are 3 kind of
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The Cost of Childcare “According to the U.S. Department of Health‚ between the years 2011 and 2012‚ 38 states and the District of Columbia‚ child-care costs exceed their recommendation of no more than 10 percent of a family’s income (Blair 4).” However for many parents child care is a must. Child care expenses are at a premium‚ changing work circumstances could benefit both parents and children. Financially‚ there are both risk and benefit to the overall future of events. While scheduling to be
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Address by John F. Kennedy and the ‘Four Freedoms’ speech Franklin D. Roosevelt both took place in significant times in American and the World’s history; both of these speeches took place in times where the United states needed hope‚ needed reassurance. The United States is the land of the free and the home of the brave both of these speeches worked to keep freedom throughout the world. Both wanted peace either by force or by friendship. Both Roosevelt’s “ Four Freedoms” speech and Kennedy’s inaugural
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The Four Gospels The word ’gospel’ means good news. There are four gospel accounts in the New Testament: Matthew‚ Mark‚ Luke and John. The first three gospels are sometimes called the ’synoptic’ (same view) gospels. This is because they each cover teaching and miracles by Jesus that are also covered in another account. John‚ writing later‚ recounts Jesus’ other words and miracles that have a particular spiritual meaning. All four gospels present Jesus as both the Son of God and son of man. They
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