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How a firm plans to earn a profit is one of the most important considerations in the business plan. Profit is defined as total revenue less total expenses (Investopedia, 2013) and there are basically three levels of profit. The first level is the gross profit, which subtracts only the cost of sales; the second is the operating profit which subtracts fixed costs as well. The final profit is the net profit, which subtracts all costs of doing business, including taxes and financing costs like interest.
There are going to be two forms of payment for the customers. They can either pay cash or with a credit card, but cash will be encouraged because the credit card company is going to charge to use a card, cutting into our margins. Checks and other forms of payment will not be allowed. The reason for this is that we want…
Investopedia. (2013). Definition of profit. Investopedia. Retrieved April 12, 2013 from http://www.investopedia.com/terms/p/profit.asp
No author. (2013). What is a cost structure? WiseGeek. Retrieved April 12, 2013 from http://www.wisegeek.com/what-is-a-cost-structure.htm
evenue Sources Generation for Appalachian Trail Conservancy
Appalachian Trail Conservancy exist not to make money but to fulfill one of the purposes recognized by federal law; charitable, educational and scientific requirements. Under state and federal tax laws, however, as long as the corporation is organized and operated for a recognized nonprofit purpose and has secured the proper tax exemptions, it can take in more money than it spends to conduct its activities. Based on this, revenue is the society's way of paying for the services provided by Appalachian Trail Conservancy. A revenue structure describes the many sources of income a local government receives. The major sources of revenue include taxes, other revenue sources and inter-governmental transfers, which are defined below.
The organization's compulsory income sources include cash and non-cash sources got through taxes, license and permits. Since the firm is a corporation of the federal government,…
Bland, R.L. (1989). A Revenue Guide for Local Government. Washington, D.C: International
City/County Management Association.
Government Finance Officers Association. (2010). Issue Brief: Collection of Taxes on Purchases
Made Over the Internet/Other Remote Means. Washington, D.C: Government Finance Officers Association.
Tax revenue is a fundamental component to governmental budgets and subsequent spending. Particularly, in economic downturns, government tends to spend large sums of money in an effort to stimulate the economy and drive economic growth. To properly prepare and mitigate the cyclical nature of tax revenues, diversification is required. Through proper diversification, governments are better positioned to provide adequate service irrespective of the prevailing macroeconomic circumstances. Although aspects such as interest rates, political grid-lock, and unemployment impact all governments; through a diversified revenue stream, the impact of such occurrences will be significantly diminished. As such, a thorough tax revenue analysis is needed to prepare the city of Swobodaville for the cyclical nature of the business cycle, and the subsequent volatility in tax revenue (Williams, 2008).
When analyzing the cities overall tax composition, a larger share of tax revenue comes from personal income as oppose to corporate income. The…
Mortgage Refi. Tax Sales Tax
1) Minarik, Joseph J. (2008). "Taxation." In David R. Henderson (ed.). Concise Encyclopedia of Economics (2nd ed.). Library of Economics and Liberty. ISBN 978-0865976658.
2) Williams, Walter E. (2008-08-06). "Government theft, American-style." WorldNetDaily
Tax revenue sharing: A solution to the inequities in school funding?
Tax revenue sharing is one of the most popular yet controversial potential solutions to the problem of inequitable funding of school districts. In the debate over fairness in education, the fact that property taxes are usually the primary method of school funding frequently leaves poorer districts with substantially less revenue than their wealthier counterparts. evenue sharing is based upon the idea in which "each community in a region designates some percentage of a new tax stream or new tax base to a regional pool, where it is divided among all the towns in the pool based on some formula that may involve population or other variables" (egion agenda, 2009, The Hartford Courant). evenue sharing is designed to equalize revenue between local governments that have differing capabilities of raising revenue, and thus create better opportunities for residents.
Dare to share: A review of tax revenue sharing in the United States. (2004). Sierra Club.
Retrieved March 29, 2011
Pinho, K. (2011, February 23). Schools, pensions revenue sharing could take major hit.
How to Protect Revenue Streams
The purpose of this research analysis was to discover tools healthcare organizations and practitioners can use to increase revenue streams while facing the rising costs of healthcare and an increasingly aged population relying on Medicare and Medicaid for healthcare coverage. Traditionally Medicare and Medicaid offer very little in the way of comprehensive medical services. This has inspired with healthcare community however to come to the realization that hierarchical care within healthcare facilities is no longer a viable means of providing care to patients in need. Cutbacks can be made but often they will result in substandard care for those that need care the most.
The researcher conducting this review proposes healthcare facilities adopt a horizontal approach to healthcare. Such an approach would as inferred by the literature, enable hospitals to work with communities, volunteers and junior level providers to provide comprehensive preventive and minimally invasive…
AHA. (2006). AHCA 2006 Priority: Proposed Medicare, Medicaid Cuts Would Jeopardize the Care for America's Most Vulnerable, Frail, Elderly and Disabled. American Health Care Association, Retrieved October 14, 2007:
Hurwitz, M.R. (1993, Sep). Patient supply charges: Still a revenue source? Healthcare Financial
Management, Sept. Retrieved October 13, 2007:
Bottom line is that Bury has to increase sales and there are several cost efficient ways of promoting his products.
At the internal level of his business operations, it has to be noted that the increase in sales volumes has to be supported by an increase in production levels. Given this necessity, combined with elements such as ease of use of the technology and the minimum skills requirements of the person digitalizing the books, Will Bury ought to consider the following:
To a degree to which this does not negatively impact the family life or the individual life of the family members, Will Bury should ask his wife or his children to help with the digitalization process
In a context in which the help of the family is either impossible or insufficient, Bury should hire an employee to handle the digitalization processes. This employee would require minimum skills and would…
Bella, J., 2006, the Growing Ebook Industry and Market, Articles base, http://www.articlesbase.com/publishing-articles/the-growing-ebook-industry-and-market-65103.html last accessed on May 17, 2010
Turner, M.L., 2004, the unofficial guide to starting a small business, 2nd edition, John Wiley and Sons
Violette, E., 2007, Books vs. E-books, Ebookgraphy, http://www.ebookgraphy.net/booksvsebooks.htm last accessed on May 17, 2010
Startups, http://www.startups.co.uk / last accessed on May 17, 2010
M&a activity can be conducted in order to lower a firm's cost of capital. This can be done either by lowering the firm's total risk through diversification, by absorbing a company in a lower-risk business than the new parent company, or by using the M&a activity as an opportunity for arbitrage, taking advantage of disequilibrium between currencies and interest rates in two different nations.
Corporate organization and ownership issues can stimulate merger & acquisition activity as well. In some cases, the activity is a reorganization within the company, conducted for strategic reasons and often tied to tax consequences. In other cases, firms may combine assets in a manner that allows for one or both of the firms to improve its strategic position in specific products or markets. Organization and ownership can have a negative impact on the success of a merger or acquisition, however. Issues regarding control, culture or mission…
Tehranian, H. (2006). Performance changes around bank mergers: Revenue enhancements vs. cost reductions. Journal of Money, Credit and Banking. Retrieved March 23, 2010 from http://www.allbusiness.com/sector-52-finance-insurance/credit-intermediation/1183147-1.html
Dounis, N. (2008). The auditor's role in mergers and acquisitions: Companies often underestimate the importance of risk management during the M&a process. Internal Auditor. Retrieved March 23, 2010 from http://findarticles.com/p/articles/mi_m4153/is_3_64/ai_n27504379/
Gaughan, P. (2007). Mergers, acquisitions and corporate restructurings. Hoboken, NJ: Wiley.
Croson, R., Gomes, a., McGinn, K. & Noth, M. (2004). Mergers and acquisitions: An experimental analysis of synergies, externalities and dynamics. Review of Finance. Vol. 8, pp. 481-514.
This holds true even when the price variance is calculated; the reduction in volume of the number of flu patients seeking treatment actually means that the reduction in revenue from these services impacted the medical group slightly less than it would have at the expected volume, and the slight increase in revenue-per-flu shot was compounded by the three-fold increase in expectations in the number of flu shots administered. For flu shots, this price variance was six thousand, and for the treatment of flu patients this variance comes in at fourteen thousand (technically, negative fourteen thousand, as the group would have made this much more had they been able to collect the full eighty dollars expected from every flu patient treated). These figures show that the price changes alone, had they not been accompanied by significant volume changes, would have led to a situation of reduced profitability when compared to expectations,…
Public Administration and evenue Policy: How Vital is it to Develop evenue Policy Aligned with Community Values?
Economic development is a vital aspect of a local economy that is healthy. Economic development is defined as "the process of creating wealth through the mobilization of human, financial, capital, physical and natural resources to generate marketable goods and services. The economic developer's role is to influence the process for the benefit of the community through expanding job opportunities and the tax base." (Business Park Land Strategy Technical eport, City of Davis, nd) According to the California Association for Local Economic Development (CALED) economic development can be defined as "…"…local economic development involves the allocation of limited resources - land, labor, capitol and entrepreneurship in a way that has a positive effect on the level of business activity, employment, income distribution patterns, and fiscal solvency." (Ibid, nd)
I. Economic Development: oles and esponsibilities…
Economic Development Policies and Strategies and Value of Knowledge-Based Business Growth. Draft Business Park Land Strategy Technical Report. Chapter 2 (nd) City of Davis. Retrieved from: http://cityofdavis.org/CDD/Business_Park_Land_Strategy/pdfs/Draft%20BPLS%20TR%20Chapter%202.pdf
Revenue Policies Should be in Statutes to Protect Poor & Respect Local Difference (2004) Wisconsin Education Association Council. Retrieved from: http://www.weac.org/News_and_Publications/education_news/2003-2004/cathconf.aspx
limiting factor in determining the size of a budget in the public sector is the capacity to tax or generate revenue. To compute fiscal capacity, a representative tax system should assess the level of personal income, the value of retail sales, and the value of property. However, there are other areas that governments should focus on when striving to ensure and maintain revenue generation. Diversifying a revenue portfolio is paramount, especially when the economy takes a downturn. The following essay evaluates whether evaluate whether, wobodaville, a hypothetical city has an adequately diverse tax mix, and recommends possible actions to improve its tax base.
The city wobodaville is compared to 'Comparator'. wobodaville has a significantly higher personal income than comparators, although its corporate income is slightly lower. For some unknown reason, the sales tax that wobodaville has to pay is significantly lower than comparators as is its property tax. On the…
Garrett, TA & Leatherman, JC An Introduction to State and Local Public Finance Web book.
Scissors, MJ et al. (2012) Trade Freedom: How Imports Support U.S. Jobs
The Heritage Foundation
Their profits between 2008 to 2010 surged from between 7% to $14.3 billion (Fortune 500).
As regards Coke, decline has not been solely to recession but due primarily to the fact that the public has come to largely desire healthier, sugar-free, and more 'natural' beverages such as bottled water and tea as well as pure fruit juices. Health is the current market's concern. The carbonated soft drink industry does not project that image, even though they may attempt to redefine themselves.
Hewlett-Packard has been affected by the recession firing nearly 25,000 employees, reducing salaries and demonstrating a 13% decline in earnings for its first fiscal quarter of 2009. Max Hurd was CEO then, and apparently the recession affected his job for he too was laid off to be replaced by Leo Apotheker who vowed to turn the impact of the recession on HP around (Computerworld)
CVS suffered greatly by the…
Computerworld. HP has 'hurd' about a recession blogs.computerworld.com/hp_hpq_pay_cut_mark_hurd
Fortune 500. CVS stores. CNN money.cnn.com/magazines/fortune/fortune500/2010/snapshots/2255.html
Fortune 500. Hewlett-Packard. CNN money.cnn.com/magazines/fortune/fortune500/2010/snapshots/2255.html
Fortune 500. Wal-Mart stores. CNN money.cnn.com/magazines/fortune/fortune500/2010/snapshots/2255.html
American Tax Payer Act
The present taxation system for the United States is a progressive tax on income of individuals, businesses, trusts and estates. While the first Federal income tax was opposed during the Civil War and then again in the 1980s to pay off war debt and reconstruction, it was not until the 16 the Amendement in 1913 that placed a Federal tax as Constituional law. The basic outline of the Federal tax is quite simple -- gross income less exclusions and exemptions and standard deductions equals taxable amount. The taxable amount is based on family size, and varies based on filing status. The complexity arises, however, in the manner in which deductions are interpreted, tax law changes to allow certain items to be deducted, and then changes that law (e.g. credit card interest), or ways in which complex tax structures are legally able to "hide" or "defer" income…
A Roadmap to the 2013 Federal Budget Debates. (2013, March). National Women's Law Center. Retrieved from: http://www.nwlc.org/resource/roadmap-2013-federal-budget-debates#_edn3
The American Taxpayer Relief Act of 2012. (2013). JST Investment Consulting. Retrieved April 2013 from: http://www.jstinvestmentconsulting.com/2013/01/the-american-taxpayer-relief-act-of-2012/
Huang, C. (2013). Buget Deal Makes Permanent 82% of President Bush's Tax Cuts. Center on Budget and Policy Priorities. Retrieved April 2013 from: http://www.cbpp.org/files/1-3-13tax.pdf
evenue Generation and Management: Nightingale Home Care Inc. in La Mesa.
The main source of daily operation in the health care facilities is the revenue since almost all the services provided are dependent on the revenue generated hence it is important to understand the sources of the revenues and the way should be are managed. This paper will delve into the various sources that hospitals and Nightingale Home Care in La Mesa in specific often use as their reliable sources of revenue, it will also find out how the money is managed and any possible loose ends that predisposes the revenue to mismanagement.
Government aid is seen as one of the most significant source of revenue for hospitals including Nightingale. The government provides revenue in form of grants and subsidies for health care programs which helps in the running of hospitals. Though the main foundation of these grants and subsidies…
Barnet S. et.al, (2014). 10 Challenges and Opportunities for Hospitals in 2015. Retrieved April 23, 2016 from http://www.beckershospitalreview.com/hospital-management-administration/10-challenges-and-opportunities-for-hospitals-in-2015.html
Florida Hospital, (2013). Hospital Finance Basics: Part 1 Revenue. Retrieved April 23, 2016 from https://www.floridahospital.com/sites/default/files/finance_part_i_revenue_hib_november_20131.pdf
Patrick M., (2015). How the Health Insurance Industry manages Risks. Retrieved April 23, 2016 from http://marketrealist.com/2015/02/need-health-insurance-industry/
The general fund collects over 86% of the total tax revenues and is the primary funding source for most commonwealth agencies.
General fund tax revenues
The largest significant source of tax revenues net of refunds is personal income tax. eported personal income tax accounts for 38% of all tax revenues reported. Sales tax, which represents a tax on various items purchased by consumers, is the second largest category. eported sales tax accounts for 33% of all tax revenues reported. Corporate taxes, which represent different taxes on various corporations, are the third largest category. eported corporate tax accounts for 17% of all tax revenues reported. These three categories represent Pennsylvania largest sources revenues.
The general fund reported total expenditure of $47,866 and total other financing uses of $1,049 during the fiscal year ended June 30,2010.exenditure for health and human services accounting for over 56% of all general fund expenditures. The…
Pennsylvania (Financial reports)
New York (Financial reports)
evenue Estimates: Underestimation of evenues
Although the United States has an excellent budget policy, she is yet to reach maximum efficiency with regard to revenue estimation. When it comes to public budgeting, ours is a picture that is far from the ideal. There has been a consistent pattern of underestimation of revenues in federal, state, local, as well as agency budgets. This trend may not be desirable for a recovering economy since government decisions on new policy initiatives and sustainable policy settings depend significantly on these annual revenue forecasts. This text hypothesizes that the current methodology, resourcing, and governance of forecasting activity has, year after year, played a role in the inaccurate estimation of revenues. The U.S. Department of Homeland Security and several security agencies in Florida will be utilized in an attempt to demonstrate just how prevalent an issue this is proving to be in public budgeting. Morgan et…
CBO. (2012). The Proposed Homeland Security Budget for 2013. Congressional Budget Office. Retrieved 3 June 2014 from http://www.cbo.gov/publication/43520
City of South Miami. (2014). City of Pleasant Living: Ordinance 24-13-2171. City of South Miami. Retrieved 3 June 2014 from http://www.southmiamifl.gov/DocumentCenter/View/273
Department of Treasury and Finance. (2006). Review of Revenue Forecasting. Government of Western Australia. Retrieved 27 June 2014 from http://www.treasury.wa.gov.au/cms/uploadedFiles/review_revenue_forecasting_march2006.pdf
DHS. (2013). FY 2013 Budget-in-Brief. Department of Homeland Security. Retrieved 3 June 2014 from http://www.dhs.gov/xlibrary/assets/mgmt/dhs-budget-in-brief-fy2013.pdf
1 Look at the state general sales tax proportion. How important is the general sales tax to your state… more or less important as compared to the average of all states? More or less important as compared to the 6 states we’ve looked at?
General sales tax makes up 9.8% of Maryland’s income, which ranks it 3rd among the six states looked at but nearly 2 percentage points below the U.S. national average. At roughly 10 percent of the state’s revenue, the general sales tax is an important revenue source for the state.
Among the six states examined, New Jersey takes in the most from general sales tax, with 13.5% of its revenues coming from this stream.
Pennsylvania is second with 10.6%. And Maryland just behind it.
West Virginia is fourth with 7.9% and Virginia is fifth with 6.6%
Delaware has no sales tax so it brings in now…
Total revenue represents all the company income. Total revenue is calculated by multiplying the price of products with the quantity sold. Typically, total revenue is calculated as follows:
Total revenue = price x quantity
Where price (P) and quantity (Q).
As being revealed in Table 1, total revenue is calculated by multiplying price with quantity, when firm produces 2 quantities of goods, firm's total revenue is $10, however, when a firm produces 3 quantities of goods, its total revenue is $15.
Marginal revenue is an additional revenue that a firm generates when a firm sells additional unit of output. The marginal revenue plays an important role in the perfectly competitive firm where a perfectly competitive firm maximizes its profit when marginal revenue is equal to marginal cost. The formula used to calculate marginal revenue is:
Marginal revenue= Change in total revenue/Change quantity.
The average revenue is calculated…
Aderton, (1977).Economics. Pearson Education
Sloman, A and Sutcliffe, M (2004). Economics for Business. Prentice Hall.
Expensing of Stock Options
Expensing of stock options is a far more complicated issue. The Federal Accounting Standards oard (FAS) strongly recommends expensing of options and is trying to make it a legal requirement (Rash, 2004).
The pros of expensing options include providing a level playing field so that companies that use cash bonuses and companies that use stock options each have an expense on the income statement (McPeak). and, some believe it will improve corporate governance by reducing the incentives to inflate income and earnings per share.
However, there are many significant challenges for a company that expenses options (McPeak). Many companies have issued options to multiple levels of employees to attract high quality employees and to motivate them. If companies expense options at the time they are granted, it will be difficult to continue to grant options to as many employees. Some feel that there is already a…
Adjusting the accounts. Retrieved February 9, 2005 from Web site: http://184.108.40.206/search?q=cache:IFCF5xnQ7gwJ:www2.ac.edu/faculty/JDavis/course_files/acc201/ch03.ppt+%22expense+recognition%22+%22matching+principle%22&hl=en
Rash, M.C. (2004, August 6). Considering options. The Business Journal. Retrieved February 9, 2005 from Web site: http://www.bizjournals.com/triad/stories/2004/08/09/focus1.html
Service and construction contract revenue. (2002). PricewaterhouseCoopers. Retrieved February 9, 2005 from Web site: http://www.pwcglobal.com/Extweb/service.nsf/0/829224D1965E9B6A80256C7C0042A50C?opendocument
Turner, L.E. (2001, May 31). Speech by SEC staff: Revenue recognition. USC SEC and Financial Reporting Institute. Retrieved February 9, 2005 from Web site: http://www.sec.gov/news/speech/spch495.htm
Identify what seem to be the important trends in TechMall's financial statements. Are these trends consistent with TechMall's strategy and the economics of a growing company?
The trends that seem to be occurring are that Tech Mall is seeing slower levels of growth. This is taking place with less merchants signing up for the service (which is resulting in lower revenues for this segment). Evidence of this can be seen by looking at the below table which is showing the total number of merchants in comparison with revenues from the setup fee. (Swain, 2012)
Merchants vs. evenues from the Set Up Fee
Merchant Set Up Fee evenues
These numbers are illustrating how the amount of new merchants signing up is decreasing from 46.6% growth (in year 3) to 2.71% (in year 4). This is consistent with…
Swain, M. (2012). Tech Mall.com's Revenues.
The determination for marketable security with respect to disproportionate distribution is accomplished by reducing the amount of marketable securities that is treated as money using the following steps:
1. The excess of the partner's share of net gain that would be recognized if all securities of the type distributed held by the partnership immediately before the transaction were sold at fair market value over
2. The partner's share of gain that would be taken into account if the securities held by the partnership immediately after the transaction were sold.
While the term "marketable securities" includes interests in actively traded precious metals and other financial instruments that are set forth in the applicable IRC code and regulations, there are some exceptions to this provision, though, and it does not apply in three specific situations as noted below:
1. Contributed by partner. If the security itself was contributed to the partnership…
Expenditure Revenue Analysis
NY PA Expenditure
hile governmental entities must strive to serve the public good to the best of their abilities, public administrators must navigate an environment of extreme complexity in which the allocated capital funds are put to their best use. The administration of the capital budgeting process can be extremely time consuming, confusing, and expensive. This research will discuss capital budgeting policies and procedures in the states of New York as well as Pennsylvania for the fiscal years of 2009 and 2010. These governmental entities generate funds through taxes, public debt, inter-governmental transfers and various businesses owned by the government and capital projects represent a significant portion of the state's responsibilities. ith the use of a prepared financial analysis, this paper will describe current practices and examine how debt ratio affects borrowing and investment opportunities for the two governmental entities.
Much of public spending on capital projects…
Aschauer, D. (1989). Does public capital crowd out private capital? Journal of Monetary Economics, 171-188.
Borio, C., & Zhu, H. (2011). Capital regulation, risk-taking and monetary policy: A missing link in the transmission mechanism? Journal of Financial Stability, In Press.
Bronzini, R. (2009). Determinants of long-run regional productivity with geographical spillovers: The role of R&D, human capital and public infrastructure. Region Science and Urban Economics, 187-199.
Butler, A. (2009). Corruption, Political Connections, and Municipal Finance. The Review of Financial Studies, 2873-2905.
pricing strategies that Universal Studio can adopt in order to maximize its revenues. First of all, its pricing strategies need to be judged in comparison with its main competitors on the market, Disney. One can argue that the two big studios compete for virtually the same potential consumers and on a market that is, more or less, an oligopoly. As a consequence, the first strategy that can be mentioned is that of the price leadership. Universal has been in a competition with Disney about which entity would have the highest entry fee. Both started at $82, moved to $85 and, subsequently, Disney increased to $88 and Universal to $89. Disney immediately adjusted the price to $89 as well.
The idea of price leadership is that this maximizes your revenue without taking away from your customers. If the two prices (Universal vs. Disney) are similar, the price sensitivity is low, and,…
These different elements are important, because they are highlighting how governments can place severe restrictions, on the way various revenues are spent. (Ruppel, 2010, pp. 32 -- 42)
Alternatives for the Public Administrator
Therefore, all public administrators need to understand how to adjust to these different challenges in the future. This means that they must know how to do more with less. One possible way that this could be accomplished is by outsourcing certain city services to private corporations. If they could offer to do the same job for less money, this could help public managers to adjust to changes that are taking place from these sharp cuts. At the same time, the government could also form strategic alliances with nonprofit organizations and charities. In this case, they could see if some of the funds for delivering different services would help to support these organizations. At which point, the two…
Knoller, M. (2011). National Debt Tops $14 Trillion. CBS News. Retrieved from: http://www.cbsnews.com/8301-503544_162-20027090-503544.html
Ruppel, W. (2010). Fund Accounting Fundamentals. Wiley GAAP for Governments 2010. (pp. 32 -- 42). Hoboken, NJ: Wiley.
Internal evenue Service's Use of Circular 230 to egulate Tax Preparers
An oft repeated maxim in American history states sardonically that "in this world nothing can be said to be certain, except for death and taxes" (Franklin, 1840), and under the modern statutes of federal tax code that observation has never been more prescient. With taxes imposed by local, state and federal governments throughout the entirety of our natural lives, Americans living in 2012 may be facing the most extensive excises ever levied by one nation on its citizenry. Considering the dreaded annual income tax, the sales taxes added to the cost of consumer goods, and property taxes attached to home valuations, the average person is compelled to contribute thousands of dollars annually to support the revenue shortages of a mismanaged federal government. Even the choice to gift a sum of money to your child, spouse or lifelong friend, perhaps…
Franklin, B. (1840). Letter to m. le roy on the affairs of france. In J. Sparks (Ed.), The works of Benjamin Franklin: containing several political and historical tracts not included in any
former edition, and many letters, official and private, not hitherto published; with notes and a life of the author (Vol. 10th). Retrieved from http://books.google.com/books?id=weTtwiiGUYQC&printsec=frontcover&source=gbs_
Fraud in income tax return preparation. Hearing before the Subcommittee on Oversight of the Committee on Ways and Means, 109th Cong. 1 (2005).
Q1. Describe the reasons why earned income is so important for the survival of today\'s nonprofits. Give examples of opportunities that exist for developing these new revenue streams.
Nonprofits today are under increasing pressure to do more with fewer resources in the form of time and money. Many are also finding that donations are less profitable than in the past, as potential donors are inundated with new requests, thanks to the ubiquity of social media. Earned income is one potential way to bridge the gap. Perhaps the classic example of a nonprofit which makes use of earned income revenue is that of the Girl Scouts, whose famous cookies have functioned as both a positive marketing campaign as well as an important support for the organization’s activities (Lapowsky 2017). Many people become aware of the good that the Scouts do precisely because of the Scouts’ unique product.
The use of social…
Companies can inflate their state of financial health by acquiring subsidiary companies, but this does not point to a pattern of future long-standing steady profit-making. For example, during the 2010 quarter, Wipro Technologies and the major banking operation Citibank signed an agreement for Wipro to take over the ownership and management of Citibank's data center in Meerbusch Germany (Press release, 2010, Wipro, p.2-3).
Questions remain if Wipro can afford to grow at such a pace while still providing a quality product. Wipro has "signed a multi-year transformation deal with Magyar Telekom (MT)," and a "multi-year deal with one of the largest oil and gas companies to provide managed services across the global functions application landscape" (Press release, 2010, Wipro, p.3). Wipro even has plans to expand to Korea, and there is a question as to whether such rapid international expansion at such an early juncture of the company's history is…
IFRS Press release. (2010). Wipro website. Retrieved August 21, 2010 at http://www.wipro.com/corporate/investors/pdf-files/IFRS-Press-Release-Q1-FY10-11.pdf
IFRS Financials. (2010, June 30). Wipro website. Retrieved August 21, 2010 at http://www.wipro.com/corporate/investors/pdf-files/IFRS-Financials-June-2010.pdf
Wipro beat forecast. (2010, July 31). The Telegraph. Retrieved August 21, 2010 at http://www.telegraphindia.com/1100724/jsp/business/story_12720772.jsp
bonds or General Obligation Bonds are when an issuer, city, or state issues a bond that is guaranteeing repayment of said bonds by any means necessary, meaning the issuer will use any level of taxation power at its disposal to assure the money is paid back (O'Hara & Wesalo Temel, 2012, p. 42). Along with this idea, the full taxing power, faith, and credit of the issuer are used to back the bonds. So the revenues from each kind of tax like sales taxes, gas, property, and corporate taxes will be used to guarantee bonds. Hence the name general obligation bond because the issuer is generally obliged.
When an issuer has a problem with paying someone back, they must "through any means necessary" gain the funds to pay back the money. This means as mentioned before, raising taxes or other avenues or raising capital. Those that issue GO bonds are…
Feldstein, S., & Fabozzi, F. (2008). The handbook of municipal bonds. Hoboken, N.J.: Wiley.
O'Hara, N., & Wesalo Temel, J. (2012). The fundamentals of municipal bonds. Hoboken, N.J.: Wiley.
[Profit in eal Firms]
Today airlines use the Fleet Assignment Model which assigns aircraft types to an airline timetable in order to generate maximum profits. This is similar to what Continental Airlines practiced and is based on the principles of maximizing profits by calculating marginal revenue and marginal cost. The Fleet Assignment Models have increased profit margins which are constraint to factors such as that each flight in the schedule has to be assigned a particular type of aircraft. The assignment is such that the number of aircrafts cannot exceed the number available in the fleet.
Profit Maximization through the comparison of cost and revenue is now being widely practiced due to its effectiveness in fulfilling the desired goal. Firms and businesses tend to keep records of the cost and revenues in order to study the comparison of the two. The Inland Press Association has been keeping data regarding cost…
(1) Steven P. Cassou and John C. Hause - Article Title: Uniform Two-Part Tariffs and Below Marginal Cost Prices: Disneyland Revisited. Journal Title: Economic Inquiry. Volume: 37. Issue: 1. Publication Year: 1999.
(2) Profit in Real Firms [http://ingrimayne.saintjoe.edu/econ/MakeProfit/RealFirms.html] Accessed on 28/08/2005
(3) William B. Blankenburg - Article Title: Effects of Cost and Revenue Strategies on Newspaper Circulation. Journal Title: Journal of Media Economics. Volume: 7. Issue: 2. Publication Year: 1994.
(4) Eun-Mee Kim - Article Title: Determining the Number of Programming Options in Cable Television. Journal Title: Journal of Media Economics. Volume: 10. Issue: 4. Publication Year: 1997.
Flags Discovery Kingdom in Vallejo, California wants to implement a new revenue management system, maximizing revenue per customer, per visit and improving overall revenue. There are several tactics that can be utilized to extract the maximum revenue from customers. Some of these will be discussed in this paper. The nature of the business is important here, because amusement parks deal in a perishable good (park capacity). There are many different revenue streams within the park as well, so revenue management policies affect an entire suite of products and services, rather than a single good (No author, 2013).
One revenue management strategy is to foster repeat visits. While some customers travel to visit the park, there is a market of local consumers who might visit the park. Converting occasional visitors from this group into regular visitors can increase revenue substantially. Heo and Lee (2009) note that consumers find revenue management at…
Heo, C. & Lee, S. (2009). Application of revenue management practices to the theme park industry. International Journal of Hospitality Management. Vol. 28 (3) 446-453.
Milman, A. & Kaak, K. (2013). Theme parks revenue management. Goodfellow Publishers. Retrieved November 5, 2013 from http://www.goodfellowpublishers.com/free_files/Chapter%2010-f5d89c30697d8d2cdaed6b944079ed3f.pdf
No author. (2013). Revenue management applications in untraditional industries. Cornell University. Retrieved November 5, 2013 from http://blogs.cornell.edu/armapp/2013/03/27/revenue-management-in-theme-park-industry/
Walls, P. (2013). Revenue management: The parking lot dilemma. The Hospitality Blog. Retrieved November 5, 2013 from http://blogs.cornell.edu/armapp/2013/03/27/revenue-management-in-theme-park-industry/
A major objective of the custodial Financial reporting system is to be continuously and accurately responsive to regular and ad hoc requests for custodial financial reports" (Website of the Internal evenue Service, 2008).
The new information system has not been entirely implemented in the meaning that it still in the stages of control and testing. Once its implementation has been completed, the FMIS is expected to perform the following tasks:
Support the financial audit conducted by the General Accountability Office
Prepare the financial statements of the Internal evenue Service
Prepare reports for trending on operational impact
Feed the BPMS (the Business Performance Management System), the CCW (Compliance Data Warehouse) and the CAP (Custodial Accounting Project)
etrieve the information necessary for the Federal Payment Levy Program (FPLP), and finally
Analyze and report on modules with credit balances belonging to frozen credit processes (Website of the Internal evenue Service, 2008)
Johnson, S., 2008, GAO to IRS: Get Control of Yourself, CFO, http://www.cfo.com/article.cfm/12592210?f=searchlast accessed on December 10, 2008
Website of the Internal Revenue Service, http://www.irs.govlast accessed on December 10, 2008
Website of the U.S. Government Accountability Office, http://www.gao.gov/last accessed on December 10, 2008
Quelle is a company specialized in mail ordering. The company's website provides full information on the company's products and services, pricing, delivery and payment conditions. However, in my opinion, the main problem is the overall aspect of the website. The website is simply quite crowded. It is quite difficult for a new user to orient around the website and to find the items of interest to him.
Through this website, customers can purchase new or used cars, and bikes and scooters. The design is quite simple, the information is easy to access. The website is consistent in using design features and colors. All in all, this website is very easy to use for anyone.
egarding the issue of serious eCommerce websites that might be making mistakes, my opinion is that if an eCommerce website makes such errors, this is not a serious…
Company history (2008). Quelle. Retrieved August 30, 2008 at http://www.quelle.com/en/unternehmen/sicherung_firmengeschichte/2005/.
IBM Products (2008). IBM United States. Retrieved August 31, 2008 at http://www.ibm.com/products/us/en/ .
Altova Named to EContent's "Top 100 Digital Content Companies to Watch." Market Wire online. Retrieved August 31, 2008 at http://findarticles.com/p/articles/mi_pwwi/is_200212/ai_mark02049773 .
Selling Digital Content Resource Center (2008). Deitel & Associates, Inc. Retrieved August 31, 2008 at http://www.deitel.com/ResourceCenters/InternetBusiness/SellingDigitalContent/SellingDigitalContentCompanies/tabid/2428/Default.aspx .
There are ten Fraud Detection Centers across the United States, and these are meant to detect refund fraud and to identify prevention measures. Each of these offices has a Resident Agent in Charge to direct, monitor, and coordinate operations supporting electronic and paper tax filing, and each Center performs activities that include educating Submission Processing Center and Customer Service Center personnel on fraud awareness and detection.
Criminal investigation in the agency started shortly after the Revenue Act of 1913 was passed, and that act imposed a modest tax of 1% on net incomes of individuals, estates, trusts, and corporations. In addition, another tax, or surtax, graduated from 1 to 6%, was applied to income exceeding $20,000. Over time, many laws have been passed that have changed the rates and other aspects of revenue assessment. Tax evasion was noted as early as 1919, when many serious allegations concerning alleged tax frauds…
Baker, Jeremy and Rebecca Young. "False Statements and False Claims." American Criminal Law Review, Volume 42, Issue 2 (2005), 427.
Berlau, John. "Return of the 'Audits from Hell': IRS Commissioner Charles Rossotti Once Pledged to Champion Taxpayer Rights, but Instead Americans Find Themselves Facing the Resurrection of Random Audits." Insight on the News, Volume 18, Issue 27 (July 29, 2002), 15.
Cochran, Amanda a. "Evidence Handed to the IRS Criminal Division on a 'Civil' Platter: Constitutional Infringements on Taxpayers." Journal of Criminal Law and Criminology, Volume 91, Issue 3 (2001), 699.
Craig Jr., James L. "Guidance on Financial Status Audits: It's Not Just for CPAs." The CPA Journal (2007), http://www.nysscpa.org/cpajournal/1996/0796/features/Guida.htm .
Ebooks by Amazon
Amazon is the leading e-book (electronic books) seller across the globe given its market dominance over the years. Publishers have increasingly preferred electronic books because of their tendency to be more profitable for them. The increased preference of e-books by publishers is attributable to the fact that they are less to create and distribute. In addition, electronic books are preferred by publishers because they are not subject to returns from bookstores. Amazon has continued to influence the e-books market because of its dominance that has generated significant profits over the years. However, there is need for the company to increase revenues generated by e-books because of various factors. First, publishers are looking for measures to halt Amazon's influence on this market. Secondly, the company should look for ways to enhance its profit because of the decrease in e-book sales by 11% in the last financial year (Pressman,…
Dale, B. (2015, September 14). Do E-books Earn More Money at Lower Prices? Observer. Retrieved November 7, 2016, from http://observer.com/2015/09/do-e-books-earn-more-money-at-lower-prices/
Kroenke, D., Bunker, D. & Wilson, D. (2013). Experiencing MIS. New South Wales: Pearson Australia Group Pty Ltd.
Pressman, A. (2016, July 11). Here's Why E-book Sales From Major Publishers Are Plummeting. Fortune. Retrieved November 7, 2016, from http://fortune.com/2016/07/11/ebook-amazon-publishers/
Furthermore, capital gains normally tend to be spread across a wider income scale than many believe. According to the IRS Individual Income Tax Returns, Preliminary Data, 1992 federal income tax returns, 55% of returns claiming capital gains were from incomes of $50,000 or less, including a capital gain (Thorning, 1995). hat this information appears to come down to is that the capital gains tax affects almost everyone, which happens to affect the economy in general.
Tax Act of 2011
ith some of the huge advantages that have been back loaded, the Tax Relief Act of 2001 displays itself as more of a tax odyssey than what would be considered a tax act. The most positive of those that are called our planners really just provide estate tax repeal which is a 50/50 possibility of essentially being executed. Taxpayers and planners similarly are left with the troublesome query, "hat is the…
Gordon, M. (2209). Stock Market Looks More Like Face of America, Survey Says. The Associated Press Business News, 25.
John Freear and William E. Wetzel, J. (2009). Who Bankrolls High-Tech Entrepreneurs? American Council for Capital Formation Center for Policy Research,, 101.
Michael J. Graetz. (2010). Distributional Analysis of Tax Policy. Discovery and the Capitalist Process, 105-121.
Robert Gillingham, a. J. (2007). The Effect of Marginal Tax Rates on Capital Gains Revenue,. National Tax Journal, 123.
Expenditures and Revenues Matrix
City or County: PAKISTAN
School nutrition fund
Major expenditure on wheat, rice, cooking oil etc.
Major expenditure on basic food items for schools of state
Major expenditure items like water supply to schools, checking and distribution of basic food items.
Major expenditure on formation and printing of textbook.
Major expenditure on acquiring textbook from federal government.
No expenditure on textbook.
Not making expenditure on school maintenance.
Not making expenditure on school maintenance.
Major expenditure on purchasing material for school and making payments to constructor.
School nutrition fund
Donations, tax payer money, other revenue generating activities like concerts, cricket matches etc.
Amount given by federal government, donations.
Amount given by state, donations
Revenue Item 2
Donations, tax payer money
Tax money raised by provincial government
No revenue sources…
American Management Association. (n.d.). Financial Decision Making and the Techniques Used in Financial Analysis. Retrieved April 16, 2012, from Flex Study: http://www.flexstudy.com/catalog/schpdf.cfm?coursenum=96088
Brigham, E., & Houstan, J. (2012). Fundamentals of Financial Management. Mason: Joe Sabatino.
Duncombe, W., & Joyce, P. (2012). Public Budgeting and Finance. Public Financial Publications.
Expenditure Guideline Matrix. (2010). Expenditure Guideline Matrix. Retrieved from purchasing: http://purchasing.ua.edu/information/spending_guidelines_nov_2010.pdf
Yet, this has had a serious negative impact on the stock value of the company, as investors are weary that the company can stand strong while not meeting its projected numbers. Stocks dropped about 16%. The article, however, has no graphics to help portray the dramatic stock decline.
Dietrich, Chirs. (2012). Blue chips drop 243 points. Wall Street Journal. Web. Retrieved October 23, 2012 from http://online.wsj.com/article/SB10001424052970203406404578074151221809878.html?mod=WSJ_hp_mostpop_read
Major company 3M failed to impress this third quarter. The filing of its revenue numbers showed a dramatic decline that has been continuing to affect the company's stocks since the beginning of the year. Not only did 3M's poor performance impact its own stock prices, it helped generate poor Dow Jones numbers in general within the industrials context. Poor management decisions have led to falling income, and as such the company's stock is suffering. The article presented a short video which helped…
Lessin, Jessica. (2012). Apple drops an iPad Mini on rivals. Wall Street Journal. Web. Retrieved October 23, 2012 from http://online.wsj.com/article/SB10001424052970204425904578074681343454060.html?mod=WSJ_business_LeadStoryCollection
In a general market decline for the third quarter, Apple just announced a major competitive product to help fight with its competitors that have cheaper tablets on the market. It announced the mini iPad to compete with Amazon's Kindle and other products, whose companies are showing higher stock percentage increases. However, as the article stated, "investors were underwhelmed, with most of the new products previously reported or rumored." This management decision may have been made too early, as the company will ultimately be competing with itself based on the recent launch of the iPad 2. As such, stocks fell about 3.3% after the announcement went public. The article has several vivid imaged that showcase the new iPad Mini alongside Apple sponsored videos unveiling the product. They help showcase the product in question, but really don't provide any insight into the negative impact the announcement had in terms of stock value.
Safety Concerns at Washington Metropolitan Area Transit Authority (WMATA) and Implications for Ridership
The Metro network operated by the Washington Metropolitan Area Transit Authority (WMATA) provides mass transportation for the nation's capital region for visitors, residents and especially members of the federal government workforce. Besides 118 miles of rail tracks and 91 stations (making it the nation's second-largest heavy rail transit system), the Metro also operates the fifth largest paratransit service and sixth largest bus network in the country today (Metro facts, 2016). Taken together, the Metro clearly represents a valuable transportation resource, but the WMATA has been plagued by several safety-related issues that have adversely affected ridership levels in recent years as discussed further below.
Metrorail ridership in the second half of 2015 dropped to levels not seen since 2004, overall weekday ridership was down six percent compared to FY2015 and weekend ridership was down twelve percent.…
GAAP is a set of specific common guidelines, provided by the institutions such as the Financial Accounting Standards oard, the American Institute of Certified Public Accountants and the Securities and Exchange Commission, about "acceptable accounting practices"
These acceptable practices should not necessarily be regarded as a set of ground rules. In fact, it is a common denominator, useful when foreign firms, especially auditing companies, proceed to financial verifications. The GAAP provide for an easier task from the auditing companies and anybody else who interprets the financial statements.
In the case of Legal Plan Services, the GAAP guidelines will provide the necessary information that will permit a common evaluation, a common ground on which revenue and expenses can be considered. esides being interpretable by more than one side, the GAAP guidelines are, in this case, rules which allow for the company's accounting methods to be understood by others and would permit,…
1. What are Generally Accepted Accounting Principles?. On the Internet at http://www.allbusiness.com/articles/content/17954.asp
2. Issues Related To The Recognition pf Revenues and Liabilities. The Financial Accounting Standards Board. March 2002. Page 1. On the Internet at http://www.fasb.org/proposals/recognitionrev& ; liab.pdf
3. Statement of Financial Accounting Standards No. 48 - Revenue Recognition When Right of Return Exists. Financial Accounting Standards Board. June 1981. Page 4. On the Internet at http://www.fasb.org/pdf/fas48.pdf
4. Summary of Statement No. 33 - Financial Reporting and Changing Prices (Issued 9/79). On the Internet at http://www.fasb.org/st/summary/stsum33.shtml
Define marginal revenue.
Explain its relationship with total revenue.
Marginal Revenue (MR) is the revenue that is linked to one more additional unit of production. The demand for the product will determine whether it will be higher or lower or even the same as the previous unit of production revenue. MR can be defined therefore as the addition realized revenue to the Total Revenue (TR) by a unit increment in the sales volume of a firm in the market (Economics Concepts, 2011).
For instance if a lime factory sells 100 liters of lime at $4 per liter, the total revenue of the factory would be $400. Incase the factory increases the sales volume from 100 liters to 101 liters, then the total revenue of the factory increases to $404. The increase by $4 in the total revenue by one unit increase in rate of sales per…
Cliff is assuming decreases in revenues are decreasing needed revenue for new projects. With a new product launch, the company would be able to regain market share and revenues.
Pat is assuming a new product to identify customers by retinal scan, track information about customers, and deliver real time reports would give substantial ROI and provide revenues for the future, the product could be launched on the $400K budget with refined features, should be implemented by the August deadline without problem, a prototype product with incomplete features will still satisfy customers, Kelly is set in his ways and refuses to change, and Kelly is not being realistic about the capabilities of his existing employees.
Kelly is assuming the company is not equipped to do the product launch and still serve existing customers with the reduced staff, continually holding meetings is a waste of time because of arguments, can only create…
Copi, I.M. (2009). Chapter 4. In I.M. Copi, Introduction to Logic (pp. 118-177). New York, NY: Pearson Custom Publishing.
In Logic, What Are Sound and Valid Arguments? (n.d.). Retrieved from Wise GEEK: http://wisegeek.com/in-logic-What-are-Sound-and-Valid-arguments.htm
Kies, D. (n.d.). Using Logic in Composition. Retrieved from HyperTextBooks: http://papyr.com/compl1/logic.htm
Marginal revenue = marginal cost
This paper will examine the MR=MC principle, which is one of the guiding economic principles for business. This reflects the relationship between marginal revenue and marginal cost. Marginal revenue is the additional revenue from producing a unit of a good, and marginal cost is the additional cost of producing that unit. In general, businesses prefer to produce only when they can make more selling a unit than it cost to produce, but there are exceptions, and that is where the MR=MC principle relationship becomes interesting.
MR=MC is also known as the profit maximization rule (IE, 2018). The slope of this curve reflects the margin, and how it changes as the company achieves economies of scale. For example, if a company has a slow, manual process for producing widgets that results in a marginal cost of $1.00 per widget, and but because widgets are not differentiated…
The two proposed changes for Science Applications International Corporation (SAIC) include diversifying its revenue stream to include a growing customer base in the private sector, and streamlining its operations by attempting to reduce costs while still maintaining its profits. The problem addressed by these two solutions is that approximately 90% of SAIC's business is attributed to the Department of Defense (DoD), and that in the wake of governmental budgetary cuts SAIC would likely endure a commensurate reduction in its business. In assessing the impact of both of these options it is important to realize that, according to Clemmer (2001), change is inevitable and "We can choose to anticipate and embrace changes or resist them." In fact, this basic distinction provides one of the most eminent ways of stratifying the impact of the aforementioned two options. The former creates a scenario in which SAIC has the potential to expand its…
Clemmer, J. (2001). Growing with change. www.managerwise.com. Retrieved from http://www.managerwise.com/article.phtml?id=261
Kent, R.H. (2001). Ensuring organizational success and progress. www.managerwise.com. Retrieved from http://www.managerwise.com/article.phtml?id=135
The company's stock history tells a somewhat similar story to this brief ratio analysis. After peaking at over forty dollars a share in 2006, the stock price fell dramatically and fairly consistently until bottoming out at just under two dollar per share in 2009 (Yahoo Finance, 2012). Since then, the rice has struggled back to a certain gain, though has largely remained stagnant hovering around eight dollar per share, and it is currently trading at just under seven dollars per share (Yahoo Finance, 2012). This performance does not point to an especially strong company, but again it does not indicate a weak one, and instead shows a company that appears to be succeeding in efforts to stabilize.
Given the current financial standing of the company and its stock performance over the past several years, it is recommended that HTC proceed with its planned partnership with AMD. As described above, AMD…
AMD. (2012). Accessed 10 May 2012.
AMD. (2012a). 2011 Annual Report.
Yahoo Finance. (2012). AMD. Accessed 10 May 2012.
men like Mr. Nus is underscored by an almost unappetizing uniformity. Although he attempts to invoke the dynamism of his organization in its ability to provide succinct resolutions to vexing problems, his mere language strikes us as pre-scripted, lacking the subtle virtues of personalization. His ideas seems unsubstantial, as is indicated by his insistence on hiring people who smile. French philosopher Jean Baudrillard said of American culture, "Smile if you have nothing to say...Americans may have no identity, but they do have wonderful teeth." The tastes of such men seem to reflect this lack of identity; they are reflected in anonymously elegant chain hotels such as Radisson and Hyatt, which seem to the casual observer to be all but identical from Prague to Singapore.
However, to limit our evaluation to these unflattering observations would do the dominant accounting firms an enormous discredit. Men like Mr. Nus emote the nature of…
evenue & Net Income
From the consolidated statement of operations, the revenue for Target in FY 2015 was $72.618 billion. The cost of goods sold was $51.278 billion, and the gross profit was $21.34 billion.
The corporate tax rate was as follows:
Target's net interest expense was $882 million.
The top line on the statement of comprehensive income is the net (loss) income. This is a loss of $1.636 billion.
Under "Other comprehensive income (loss)" there is a loss of $139 million. This is net of pension and other benefit liabilities, net of (benefit) provision for taxes.
The bottom line of the statement of comprehensive income is a loss of $1.344 billion. This is the Comprehensive (loss) income.
The gross profit margin is 21.34 / 72.618 = 29.3%
The net profit margin is a loss. (1.636) / 72.618 = -2.25%
The times interest earned is 3653/1204 =…
Investopedia (2015). Free cash flow. Investopedia. Retrieved June 24, 2015 from http://www.investopedia.com/terms/f/freecashflow.asp
Total Design Process such as product design specification. It explores all the details of product design and development process while handling all the basic concepts of the initial design. It also gives all the details of the embodiment design and all the important attributes that are a must in the process of Total Design Process. The paper also explores the utilization of the common tools and techniques of design such as DFMA and FMEA. The paper succinctly explores all the aspects that are of importance to the success of any process of material design and general manufacturing process.
A product design specification (PDS) is an expression of a not yet designed that product is meant to be produced from scratch. Its objective is to make sure that the resulting design and development of a certain product meets the standards expected by the end user.
The PDS acts as the very…
CROSS, N., (2006). T211 Design and Designing: Block 2,-page 99.
Hollins, W & Hollins G.Total Design: Managing the Design Process in the Service Sector
The Open University (UK), (2001). T881 Manufacture Materials Design: Block 1: The design activity model,-page 10. Milton Keynes: The Open University.
accounting questions while the rest centers on the characteristics of two certain companies, those being Apple and Philips.
Accounting Questions & Answers
The first accounting question is why revenue recognition is a significant issue. ecognizing when revenue comes in, what specific revenue stems from and the exact amount of all of the above is a very vital part of the accounting process because it has a direct correlation and effect on the profit/loss of a company, the income statement, the cash flow statement and, to a lesser extent, the balance sheet. evenues are used to defray the costs of the goods/services that were disseminated and they need to be properly measured and accounted for, and in the time period to which they apply, so as to ensure that all of the affected and relevant financial statements reflect what is truly going on and when precisely it happens (McQuaig & Bille,…
Apple. (2012, December 6). Apple Inc. - Overview. Apple Inc. - Overview. Retrieved December 6, 2012, from http://investor.apple.com/
McQuaig, D.J., & Bille, P.A. (2008). College accounting (9th ed.). Boston: Houghton Mifflin.
Philips. (2012, December 6). Philips Investor Info. Philips Electronics. Retrieved December 6, 2012, from www.philips.com/about/investor/index.html
Yahoo Finance. (2012, December 6). Yahoo! Finance - Business Finance, Stock Market, Quotes, News. Yahoo! Finance - Business Finance, Stock Market, Quotes, News. Retrieved December 6, 2012, from http://finance.yahoo.com
revenue and decreasing costs and expenses for a business are two totally separate but interactive components. All entities that are in business; both for profit and non-profit, should be concerned with increasing the revenues as well as decreasing the expenses; it makes smart business sense and those entities that do not do so often find themselves becoming irrelevant or even worse, no longer viable. As an example, even the public hospitals in China show concern as evidenced in a recent paper. The research found that "ith market-oriented economic and health-care reform, public hospitals in China have received unprecedented pressures from governmental regulations, public opinions, and financial demands. To adapt the changing environment and keep pace of modernizing healthcare delivery system, public hospitals in China are expanding clinical services and improving delivery efficiency, while controlling costs" (Zhao, Yu, Liu, Ma, ang, Kong, Li, Ma, Cui, Xu, Yu, Bao, Guo, ang, Zhang,…
Hicken, A. & Stoll, H.; (2008) Electoral rules and the size of the prize: How political institutions shape presidential party systems, Journal of Politics, Vol. 70, Issue 4, pp. 1109 -- 1127
Petronas promises cuts and LNG spending; (2009) TCE: The Chemical Engineer, Issue 817/818, pg. 10
Pozin, I.; (2012) Need a revenue boost? Try this simple formula, accessed on September 14, 2014 at http://www.inc.com/ilya-pozin/how-to-increase-revenue-small-business.html
Zhao, L-P.; Yu, G-P.; Liu, H.; Ma, X-M.; Wang, J.; Kong, G-L.; Li, Y.; Ma, W.; Cui, Y.; Xu, B.; Yu, N.; Bao, X-Y.; Guo, Y.; Wang, F.; Zhang, J.; Li, Y.; Xie, X-Q.; Jiang, B.G.; Ke, Y.; (2013) Control costs, enhance quality, and increase revenue in three top general public hospitals in Beijing, China, PLoS ONE, Vol. 8, Issue 8, pp 1 -- 7
Accounting Information System
Improving Transactional Processing in Accounting Information System (AIS)
Propose two (2) innovative technology changes that would be appropriate for a firm's:
evenue (sales to cash collection) cycle
evenue cycle represents the description of the financial progression of a business entity in relation to the accounts receivable from the point of acquisition of products to the stage when the company or business organization receives full payment for the products (omney, 2012). One of the innovative technological changes that can transform the revenue cycle is leverage technology. This technology would allow the company or business entity to adopt appropriate way of providing crucial information to essential parties in relation to consumers or market audience. Application or adoption of this technology would allow the company to maximize consumer relationships and production or profit levels. The other innovative technological change is automation of the management systems of the firm or organization.…
Dolgui, A., & Proth, J.-M. (2010). Supply chain engineering: Useful methods and techniques. London: Springer.
Hall, J.A. (2011). Accounting information systems. Mason, OH: South-Western Cengage Learning.
Langevin, A., & Riopel, D. (2005). Logistics systems: Design and optimization. New York, NY: Springer Science+Business Media.
Romney, M.B., & Steinbart, P.J. (2012). Accounting information systems. Upper Saddle River, NJ: Prentice Hall.
Lee College Financial Activities
Lee College is an academic non-profit organization that awards both undergraduate and graduate degree program to students across the world. Located in the United States, the financial statements of the Lee College conform to the Government Accounting Standard Board (GASB). (Lovvorn & Kieschnick, 2011). Overview of the Lee College financial activity reveals that total unrestricted revenues at the end of the 2012 fiscal year is totaled $16,230,000 while total unrestricted expenses are $17,050,000. However, $3,290,000 is total amount record for the increase in permanent restricted revenues and $650,000 is increase in temporary restricted. Temporary restricted consists of contributions totaled $1,500,000, gain on long-term investment and net assets released from restrictions. Permanent restricted revenues consist of income of endowment totaled $2,540,000 and gains on long-term investment totaled $750,000. Overall amount of permanent restricted revenues are $3,290,000.
Unrestricted revenues reveal the total revenues and total expenses, and unrestricted…
Lovvorn & Kieschnick .(2011). "Lee College District Annual Financial Report for the Year Ended August 31, 2011. Lovvorn & Kieschnick."
The Kimpton Hotel will have higher costs in contrast with other locations. This is because Hong Kong is one of the most expensive real estate markets in the world. As it is sitting, at a cross roads between mainland China and the West based upon the cultural traditions and history it embraces. At the same time, the location of One Exchange Square; is considered to be prime real estate. This is due to the fact that it sits on the water front of the Victoria Harbor. (McMillan, 2012)
Estimate cost of leasing for One Exchange Square Hong Kong (total of 8th floor) yearly
Its total square footage is 2 million ft. The structure consists of 88 floors. The hotel will be located on the 8th floor. Currently, UBS is the primary renter for the facility with them paying a total of $42 million per year to lease…
Five Star Hotels. (2013). Hotel Club. Retrieved from: http://www.hotelclub.com/shop/hotelsearch?type=hotel&hotel.keyword.key=Hong%20Kong&hotel.rooms .adlts=2&hotel.rooms.chldAge=&hotel.rooms.chldAge=&hotel.rooms.chldAge=&hotel.rooms.chldAge=&hotel.rooms.chldAge=&hotel.rooms.chlds=0&hotel.type=keyword&hotel.rating=5&hotel.chkin=14/05/13&hotel.chkout=15/05/13&search=Search&DCSext.tld=hotelclub.com&curr=USD&locale=en_AU&lpid=plhot
Hotel Industry in Hong Kong. (2007). HK EX-News. Retrieved from: http://www.hkexnews.hk/listedco/listconews/sehk/2007/0319/01881/ewp115.pdf
McMillan, A. (2012). Hong Kong Headache. Reuters. Retrieved from: http://uk.reuters.com/article/2012/02/20/ubs-hongkong-rent-idUKL4E8DF2SC20120220
McMillan, A. (2010). In Hong Kong. New York Times. Retrieved from: http://www.nytimes.com/2010/12/10/greathomesanddestinations/10iht-rehk.html?_r=0
Trans-Share Case Study: An Analysis of Accounting Practices Before the Company Goes Public
It is an exciting day for Trans-Share. The opportunity to finally go public has come, but with it are a number of very important decisions the organization must make about its operational procedures. It is important for companies to work out the kinks of its financial reporting before the organization goes public, which makes the accounting situation much more complicated. As such, it is recommended that Trans-Share review its current financial reporting methods in order to determine if they are the most efficient.
After reviewing the case study, it can be assumed that it is best that the fractional interest program be accounted for immediately as a sale, and not a lease. The processes for accounting leases simply do not fit the needs of the organization best. Some adjustments are needed, but an entire overhaul of…
Financial Accounting Standards Board. (2008). Statement of Financial; Accounting Concepts No. 5. Web. http://www.fasb.org/cs/BlobServer?blobkey=id&blobnocache=true&blobwhere=1175820900391&blobheader=application%2Fpdf&blobcol=urldata&blobtable=MungoBlobs
Hawkins, David F. (2001). Trans-Share Inc. Harvard Business Review.
Healthcare Financial Management
To quote Jonathan Clark at the beginning of his article, "Improving the revenue cycle can be a daunting task due to the scope and complexity of the interdepartmental process." Of the suggestions offered by the authors, which concept(s) give you the greatest insight into creating an improved evenue Cycle process in the organization where you work (or one in which you are familiar)? Be sure to identify which article or author you are referencing.
In his comprehensive advisory article to improve the medical industry's revenue capturing capabilities, entitled Strengthening the evenue Cycle: A 4-Step Method for Optimizing Payment, Jonathan Clark provides a series of sensible solutions to the ongoing dilemma of payment optimization. David Hammer also provides guidance to healthcare finance professional in his article The Next Generation of evenue Cycle Management, by reminding them that the key performance indicators (KPIs) which dictated policy in previous years…
Clark, J. (2008). Strengthening the revenue cycle: a 4-step method for optimizing payment. Healthcare Financial Management, 62(10), 44.
Hammer, D.C. (2007). The next generation of revenue cycle management. Healthcare Financial Management, 61(7), 49.
Seddon, J. (2008). Think system. Management Services, 52(2), 10.
Wilson, D.B. et al. (2004). 3 steps to profitable managed care contracts. Healthcare Financial Management, 58(5), 34.
Accounting and Finance
Comparison of Selected Financial Performance Data for WalMart and Target
WalMart and Target compete in very similar markets, competing in the supermarket segment of the retail industry, with some diversified interests. To assess the performance of these two firms, their results for the financial years ending January 2012 and 2013 may be examined and compared. This paper will look at the performance in terms of revenues, cost of goods, accounts receivable and payable and inventory management.
The performance of a firm often starts with an assessment of the revenue that is generated and the way in which this changes over time. The revenues for both WalMart and Target are shown in table 1.
Table 1; evenue for WalMart and Target 2012-2013
evenues ($ millions)
Change in revenues from previous year
The levels of revenues demonstrate that…
Target, (2013), 10k, retrieved https://corporate.target.com/_media/TargetCorp/annualreports/content/download/pdf/Annual-Report.pdf?ext=.pdf
WalMart, (2013), 10k, retrieved http://www.sec.gov/Archives/edgar/data/104169/000010416913000011/wmt10-k.htm
Federal Government Tax
The main source of government income is taxes. The government taxes various organizations in the economy differently to ensure that adequate revenue is collected. Corporate use loopholes in the tax system to reduce the tax paid to the federal government. The government should eliminate these loopholes to improve tax collection. Some taxes such as gift and estate tax as they are counter productive. Changes made to the federal tax collection systems will increase the tax collected by increasing compliance.
esearch the most common tax loopholes used by corporations and partnership to avoid paying federal income tax. Discuss two (2) loopholes identified and what strategies you would recommend to the federal government for closing these loopholes.
The federal government gets most of its revenue from collection of tax used to fund most of the expenditure. The government should ensure that the tax collection avenues are free from loopholes…
Gans, J. (2011). Principles of economics. South Melbourne, Vic: Cengage Learning.
Ganghof, S. (2006). The politics of income taxation: A comparative analysis. Colchester: ECPR Press.
Conklin, D.W., St.-Hilaire, F., & Institute for Research on Public Policy. (1990). Provincial tax reforms: Options and opportunities. Halifax, N.S: Institute for Research on Public Policy = Institut de recherches politiques.
Pechman, J.A. (1987). Federal tax policy. Washington, D.C: Brookings Institution.
business plan for a software company, Nerd Patrol. It contains an analysis of the company's ownership, business operations, and organizational structure, projects its revenues and costs of operations for the short run, and presents some important marketing strategies for the success of its business in the IT industry.
Introduction and Brief Description of the Venture
This paper presents a business plan for a new software company, Nerd Patrol that provides a number of software and hardware products, technical services, and web solutions to individual and business customers. The plan constitutes all the major operational, personnel, financial, and marketing strategies which Nerd Patrol will pursue during its initial phase of business set up. The opening section introduces the business in brief and proceeds by explaining the organizational and key business players. The "Financial Analysis" section presents projected revenues and costs of operations for the company by highlighting the major investments and…
Attaran, M. (2004). Exploring the relationship between information technology and business process reengineering, Information & Management, 41(5): 585-596.
Havaldar, K.K. (2010). Business Marketing: Text and Cases, 3rd Edition. New Delhi: Tata McGraw Hill Education Private Ltd.
Kurtz, D.L., & Boone, L.E. (2011). Contemporary Business, 13th Edition. Hoboken, NJ: Wiley.
O'Brien, J.A., & Marakas, G.M. (2007). Management Information Systems, 7th Edition. New Delhi: Tata McGraw-Hill
Revenue (income ) and costs for twelve months January
Revenue from sales (sales forecast) 843567
Labor (wage) 120000
Sales People Compensation (wage rate) 1270
Advertising (media) 890
Repairs and maintenance 4509
General and administrative 5600
Accounting and legal 5400
The fixed costs
Fixed item Amount or quantity computers 34800
Variable item Value of the item
Repair's and maintenance 340
Total variable cost per
Current assets cash 15437890
Accounts receivable 768500
Prepaid expenses 690490
Property and equipment computers 34800
Furniture and fixtures 3409
Accumulated depreciation 8900
Other assets 8990
Investment in the revenue bond 9080
Patents, trademarks 8906
And good will 3470
Financial Statements and Projections for the first year of business…
Purchasing a CT Scanner
Benefits and Costs of Purchasing A CT Scanner: A Comprehensive Evaluation
"Each year, buyers of CT scanners faced much-improved choice sets; the question is how valuable those improvements were," and thus this is a review to explore whether or not the acquisition of CT scanners are actually worth a hospital committing to such an expensive effort (Ellickson et al. 2001 p 544). Overall, the health benefits of CT scans are often extremely positive to patient care. Still, the machines and organizational costs tied to their maintenance are often costly to both the organization and the patients. Yet, the purchase of such technology does provide greater quality and efficiency within patient care strategies, from a health and organizational perspective. In such, it is clear that the positives of purchasing such technology would then outweigh any potential negatives.
CT scanners are an impressive testament to the evolution of…
Berenson, Alex & Abelson, Reed. (2008). Weighing the costs of a CT scan's look inside the heart. The New York Times. Web. http://www.nytimes.com/2008/06/29/business/29scan.html?pagewanted=all
Beutel, Jacob; Kundel, Harold L.; & Van Metter, Richard L. (2000). Handbook of Medical Imaging: Volume 1 Physics and Psychophysics. The International Society for Optical Engineering.
Ellickson, Paul; Stern, Scott; & Trajtenberg, Manuel. (2001). Patient welfare and patient compliance: An empirical framework for measuring the benefits from pharmaceutical innovation. Medical Care Output Productivity. University of Chicago Press. 537-554. National Bureau of Economic Research. Web. http://www.nber.org/chapters/c7641.pdf
Hough, Douglas E. (2008). The Business of Healthcare. Greenwood Publishing Group.
Importance of New Developments
IMPOTANCE OF NEW DEVELOPMENTS FO LOCAL ECONOMIES IN USA
The major housing boom contributed to the economic growth in U.S. In between 2003 till 2008. The U.S. government received revenues from the development impact fees. esearches have shown that new developments greatly support the local economies in U.S.. Also the government plays an important role in providing the required resources and solutions to these new developments. The objective of writing this essay is to compare and contrast the cases of new developments that affect the environment and the development impact fees on the market. Also the environmental impacts will be evaluated in detail.
IMPOTANCE OF NEW DEVELOPMENTS FO LOCAL ECONOMIES IN USA
The economic growth of U.S. greatly increased due to contribution from major housing boom that occurred in between 2003 to 2008. The government charges a development impact fee in order to generate…
Carrion, C., & Libby, L.W. (2008). Development Impact Fees: A Primer. Ohio State University. Retrieved August 10, 2012, from http://www.impactfees.com/publications%20pdf/dif.pdf .
Figure from Clarke, W., & Evans, J. (1999). Development Impact Fees and the Acquisition of Infrastructure. Journal of Urban Affairs, 21, 281-288.
Lester, R.K. (2005). IPC Industrial Performance Centre. MIT Press. Retrieved August 10, 2012, from http://web.mit.edu/ipc/publications/pdf/05-010.pdf .
McKibbin, W., & Stoeckel, A. (2006). Bursting of the U.S. Housing Bubble. Economic Scenarios.com Pty Ltd., 14.
" (1999) eported as being potential dimensions for disaggregation are those of "market, season, month, week, section of week, segment, and itinerary." (McGill and yzin, 1999)
American Airlines experienced dramatic growth when other airlines were going bankrupt through increasing its capacity. American Airlines is reported as a prime example of an airline that grew successfully during the years that TWA and other failed. United Airlines held a strong financial position as well that assisted the airlines in weathering the reduction of flights and a steep decline in travel while other airlines failed miserably winding up in bankruptcy. American Airlines managed to bring about a reduction in costs while other airlines including TWA simply could not find a way to reduce costs, which was further stressed by the airlines lack of a solid financial base. In the airlines industry, just as in other industries the ability to profit on a higher…
Dempsey, Paul Stephen (2008) the Financial Performance of the Airline Industry Post-Regulation. Symposium 2008. No. 2 Vol. 45. Retrieved from: http://www.mcgill.ca/iasl/sites/mcgill.ca.iasl/files/ASPL614_Industry_PostDeregulation-Houston.pdf
McGill, JI and Van Ryzin, GJ (1999) Transportation Science. Vol. 23, No.2. Retrieved from: http://ben-israel.rutgers.edu/711/McGill-VanRyzin.pdf
Tolkin, J. (2010) Airline Bankruptcy: The Determining Factors Leading to an Airline's Decline Claremont Colleges Scholarship @ Claremont. Fall 2010. Retrieved from: http://scholarship.claremont.edu/cgi/viewcontent.cgi?article=1088&context=cmc_theses