TEST OF CONTROLS – REVENUE TRANSACTIONS |Audit Objective |Audit procedure |Findings | |General | | | |Validity |Observe
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1. What are the revenue streams for TechMall? The revenues streams for TechMall include the following: a. Setup Fee Revenue b. Statement Fee Revenue c. Transaction Fee Revenue 2. What drives each of the revenue streams? a. Merchant setups drives the Setup Fee Revenue (Setup Fee Revenue=Merchant setups*$750); b. System merchants drives the Statement Fee Revenue (Statement Fee Revenue=System Merchants*$50); c. Total transactions‚ and Transaction Dollars drives the Transaction Fee
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The revenue recognition principle is a foundation of accrual accounting and one of the main principles of GAAP. The revenue recognition principle is a set of guidelines that helps accountants to identify when a revenue event has taken place and how to appropriately record cash exchanges before‚ during‚ and after the revenue event. According to the revenue recognition principal‚ revenue must (1) be realized or realizable and (2) earned‚ in order to be recognized. According to the SEC revenue is realized
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Revenue allocation is the distribution of revenue‚ or total income‚ through a business‚ corporate or government structure. It often involves a complex process of determining how and where to funnel revenues in order to best maintain the viability and operating structure of an organisation. The present formula gives the Federal Government 52.68 per cent‚ state governments 26.72 per cent and local governments 20.6 per cent. llllllllllllllllllllllllllllllllllllllllllllllllllllllllllll- llllllllll
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data) | February 1‚ 2008 | February 2‚ 2007 | February 3‚ 2006 | January 28‚ 2005 | January 30‚ 2004 | February 1‚ 2002 | January 28‚ 2000 | Results of Operations | | | | | | | | Net Revenue | 61‚133 | 57‚420 | 55‚788 | 49‚121 | 41‚327 | 31‚168 | 25‚265 | Cost of Revenue | 49‚462 | 47‚904 | 45‚897 | 40‚103 | 33‚764 | 25‚661 | 20‚047 | Gross Margin | 11‚671 | 9‚516 | 9‚891 | 9‚018 | 7‚563 | 5‚507 | 5‚218 | Gross Profit Margin | 19.1% | 16.6% | 17.7% | 18.4% | 18.3% | 17
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Analysis of the problem 4-9 1. Moving Average 4-6 2. Holt Winters’ Exponential Smothing 6-7 3. Simple Average 7 3. Exponential Smothing 8-9 5. Recommandations 10 6. References 11 Executive Summary In the given case study‚ Snow the revenue manager of the Hamilton hotel has to make a decision which is to accept the group of not for 22nd August. As it is a business hotel and generally it is difficult to have a full house on the weekend. She also needs to keep in mind that there
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investigates the epic battle between the Australian Rugby League which has been around for 87 years and the Super League concept for the control of Rugby League in Australia. One man‚ Mr Rupert Murdoch‚ is trying to take over and run a rebel Super League to enhance his power and for financial gain. This Super League is proposed to run in 1996 with a 10 team competition as its prospectus. This report reviews the history of the Australian Rugby League‚ the battle between Mr.Murdoch and Mr.Packer‚ the
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“Easter Wings” George Herbert (1593-1633) George Herbert’s poem is a clear example of Visual Poetry. The poem consists of two ten-line stanzas of varying line lengths. It draws much of its power from the appearance of the poem as a shape‚ in this case‚ a pair of wings viewed sideways‚ and sandglasses viewed straight on. These images emphasize the speaker’s desire to rise to heaven to be with the Christian Saviour. The sandglass has a direct connection with the title of the poem. To Christians
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Easter Island is one of the most unusual places on the planet. In A Green History of the World Clive Ponting notes‚ “Easter Island is one of the most remote‚ inhabited places on earth. Only some 150 square miles in area‚ it lies in the Pacific Ocean‚ 2‚000 miles off the west coast of South America and 1‚250 miles from the nearest inhabitable land of Pitcairn Island‚” (Ponting‚ 1991). The extreme isolation of Easter Island or Rapa Nui is not the islands most distinguishing feature. The most interesting
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The League of Nations and the United Nations By Charles Townshend Last updated 2009-11-05 The imposition of a peaceful world order was a key objective for the League of Nations‚ established in the aftermath of World War One. How can its successor‚ the United Nations‚ react to the challenges of the 21st century? Charles Townshend assesses its chances. * The birth of the League ideal * The growth of a system * Death and transfiguration? * A new international age? * The
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