AUDITING II HOMEWORK “Internet Problem 14-1: Revenue Recognition Fraud” Chapter 14 Wahyunda Risa Putri 1210534008 Shabrina Alin Firstiana 1210534010 Atikah Galuh Wilandra1210534013 Lecturer : Suhernita‚ SE‚ ForeAcc‚ Akt. International Class Faculty of Economics Andalas University 2014 INTERNET PROBLEM 14-1: REVENUE RECOGNITION FRAUD The Securities and Exchange Commission (SEC) found that Bally Total Fitness Holding Corporation‚ a nationwide commercial operator of fitness centers‚ fraudulently
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Here’s where all those billions come from. Facebook makes an astonishing 85% of its revenue from advertising. Of that‚ around 30% comes from mobile advertising. The rest 15% of Facebook’s income comes from various sources‚ which have been further explained below The biggest reason for the success of Facebook lies in advertising. Like I already mentioned‚ Facebook has access to all the information that you post on the site. They then publish ads on your screen that are directly related to where you
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stock price‚ but it also triggered an investigation which uncovered many unethical accounting practices. One example of such practices included faking product shipments so that sales could be booked. By midsummer 1994‚ as much as 70% of quarterly revenue was false. The company had ignored early warnings‚ such as their auditor Price Waterhouse LLP telling them they had weak internal controls. After announcing their 1994 write off another audit took place by Coopers & Lybrand. While Coopers feels
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Recently in June 2010‚ the International Accounting Standards Board and the Financial Accounting Standard Board initiated a joint project and released an exposure draft named Revenue from Contracts with Customers. This exposure draft emphasizes the status of revenue in assessing financial statements and states that revenue is conclusive in assessing a company’s operating situation and developing prospects. This statement has a profound influence on accounting industry and has lead to a wide range
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using play lists from commercial radio stations‚ television networks and Public Performance Licenses. Therefore the labels who have more of their recordings played on the play list will get more money. Broadcasters bring in the majority of the PPL’s revenue‚ the BBC being the largest. They also receive licence
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museums’ earned revenue include admission‚ gift shop‚ memberships‚ facility rentals and other variety of sources like private sector. Essentially‚ any product or service that is offered by the museum generates income. There is another form of revenue which is classified as unearned revenue. The main sources of unearned revenue are fundraising through individual donations and grants through any level of government. Hiring museum facilities for an event or filming is the best form of revenue. In order
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scenario as there would be gross or willful negligence. However‚ if the Carpenters truly had no control over the event‚ then‚ in my response‚ casualty loss deductions would be allowed. I would also like to mention that there is a section in the Internal Revenue Code in regards to deductions and it would be IRC Section 165. It states approximately the same information with Topic 515‚ but it also mentions “or other casualty…” These are the key words to include any other sudden‚
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Working Capital Recommendations and Impact of Revenue Increase Working capital recommendations refer to an increase of financial investments through the issuance of stocks and bonds. What this does is increase money so Starbucks can use it for restructuring and for the potential of bringing new products and services into the market. According to the Starbucks‚ (2008) “Increased leverage and/or increases in interest rates may harm the Company’s financial condition and results of operations”
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O Revenue/Yield Management no transporte aéreo [pic] ISEC – Licenciatura em Gestão Aeronáutica ECONOMIA E GESTÃO DO TRANSPORTE AÉREO II 3º ano 2009/2010 Trabalho de Grupo realizado por: Aurora Carvalho Carlos Roquette Rui Gonçalves Índice Introdução 3 1. Conceitos essenciais do Revenue/Yield Management 3 2. O Revenue/Yield Management no transporte aéreo 7 3. Implementação de um programa de Revenue/Yield Management 11 4. Análise
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In Neither Real Americans nor Real Asians? Multigeneration Asian Ethnics Navigating the Terrain of Authenticity‚ Mia Tuan discusses how Asian Americans today are not fully Asian nor fully American‚ and are characterized as not Asian enough due to the way they behave and/or live. Tuan discusses that when Asians interact with non-Asian people‚ they must “fight” to prove that they are not embracing their Asian roots more than their American roots due to wanting to feel accepted. On the other hand‚ they
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