Revenue Recognition Essays (Examples)

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Guidance for Revenue and Expense

Words: 1072 Length: 4 Pages Document Type: Essay Paper #: 94568952



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…… [Read More]

Bibliography

Adjusting the accounts. Retrieved February 9, 2005 from Web site: http://216.239.57.104/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
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Recognizing Revenue and Expenses in Legal Service Business

Words: 2711 Length: 10 Pages Document Type: Essay Paper #: 18033946

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,…… [Read More]

Bibliography

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
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Internal Revenue Code Section 751

Words: 3252 Length: 11 Pages Document Type: Essay Paper #: 12301610

"

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…… [Read More]

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Internal Revenue Service's Use of Circular 230

Words: 1135 Length: 3 Pages Document Type: Essay Paper #: 89380305

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…… [Read More]

References

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_

ge_summary_r&cad=0

Fraud in income tax return preparation. Hearing before the Subcommittee on Oversight of the Committee on Ways and Means, 109th Cong. 1 (2005).
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Capital Gain the Revenue Reconciliation

Words: 2401 Length: 8 Pages Document Type: Essay Paper #: 7106500

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…… [Read More]

Works Cited

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.
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Internal Analysis Brand Recognition

Words: 1969 Length: 7 Pages Document Type: Essay Paper #: 19019962

Louis Vuitton -- Case Study

Key Issues

To formulate a plan for the expansion of the brand into the international market. The planning and execution of strategies that would help on long-term commitment of support in the international market, depending upon different parts of the world.

The formulation of strategies and plans in cases of economic down times and interference of government policies.

Assess the performance of the company by taking into consideration the consumer trends, relevant fashion of time, the scope and demands of every international market.

To evaluate an effective model of communication and monitoring in order to analyze the trends of the existing markets that includes domestic market, variety and innovations of the products of the company.

Internal Analysis: Brand Recognition

Value

The parent company, Moet Hennessy Louis Vuitton is one of the most famous, renowned and old fashion and apparel house. The company and the brand…… [Read More]

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Accounting Questions While the Rest Centers on

Words: 1266 Length: 5 Pages Document Type: Essay Paper #: 70636679

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,…… [Read More]

References

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
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Working With Financial Statements

Words: 734 Length: 2 Pages Document Type: Essay Paper #: 46087764

Working With Financial Statements:

There are four main principles that have led to the success of the accounting system which the accountants use in preparing financial report of a company but we shall only focus on two. One of the principles is the evenue ecognition Principle whereby the accountant is expected to present a financial report by indicating the cash flow of the company. As one of the main accounting principles in the U.S. Generally Accepted Accounting Principles, revenue recognition can basically be considered as how revenue is recognized or treated. On the basis of cash accounting, revenue is simply recognized when cash is received despite the performance of the services and delivery of goods. On the contrary, revenue is recognized in accrual basis accounting when they are realizable or earned regardless of when cash is received. However, revenue is recognized when two conditions are met i.e. The completion of…… [Read More]

References:

Davoren, J. (n.d.). Four Types of Adjusting Journal Entries. Retrieved October 21, 2012, from  http://www.ehow.com/info_8210116_four-types-adjusting-journal-entries.html 

"Expenses Recognition -- The Matching Principle." (2008, July). Accounting Financial & Tax.

Retrieved October 21, 2012, from  http://accounting-financial-tax.com/2008/07/expense-recognition-the-matching-principle/ 

"Revenue Recognition." (n.d.). Tenrox. Retrieved October 21, 2012, from http://glossary.tenrox.com/Revenue-Recognition.htm
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Multiple Deliverable Arrangements Codification

Words: 656 Length: 2 Pages Document Type: Essay Paper #: 88050731

FASB Codification Pre-Case

Multiple Deliverable Arrangements (MDAs) are agreements through which a vendor will offer several deliverables to a customer. Generally, businesses (regardless of their sizes) provide a wide range of products and/or services to their customers. In the process of providing products and/or services, business organizations negotiate with a single customer. The end product of these negotiations is a contractually binding agreement with multiple deliverables. Given that such agreements generate challenging revenue recognition concerns, the Financial Accounting Standards Board has established standards for Multiple Deliverable Arrangements in ASC 605-25. This codification section provides guidelines for transaction-specific revenue recognition and specific issues associated with activities that generate revenues.

The items covered by this topic as Multiple Deliverable Arrangements are products, services or permission for asset utilization agreed upon by the vendor and customer either orally or written. This applies to all industries in which a vendor will perform several activities…… [Read More]

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Acquiring Company Case Study

Words: 704 Length: 2 Pages Document Type: Essay Paper #: 72212019

Acquiring a Company

Over the last several years, globalization has been having profound impact upon how various revenues are being accounted for. This is because there has been a concentrated effort, to create a universal accounting standard that can be utilized around the world. In the case of SolvGen and Careway, this could mean that possible changes may have an impact upon how various revenues are reported. To determine the underlying effect that this will have on both companies requires: examining the deliverables arrangement, when milestone payments should be recognized as revenues and if IFRS changes will have an impact upon the way this is recorded. Together, these different elements will provide the greatest insights, as to how these changes will affect SolvGen and Careway.

What are the deliverables for the arrangement described in the case study above?

Under the agreement the deliverable for SolvGen include: Commercial launch of instrument…… [Read More]

Bibliography

Case 10 -1. (2006).

Revenue Recognition. (2009). FASB. Retrieved from: http://www.fasb.org/cs/BlobServer?blobcol=urldata&blobtable=MungoBlobs&blobkey=id&blobwhere=1175819938544&blobheader=application%2Fpdf

Revenue Recognition Milestone Method. (2010). FASB. Retrieved from: http://www.fasb.org/cs/BlobServer?blobcol=urldata&blobtable=MungoBlobs&blobkey=id&blobwhere=1175820624057&blobheader=application/pdf
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Tesla Motors Accounting Policies

Words: 1503 Length: 5 Pages Document Type: Essay Paper #: 97830470

Summary

There are certain aspects of Tesla' s business model that distinguish it from other automakers. These manifest either in its accounting policies, or in the ways in which those policies will affect Tesla (but maybe not its competitors, even if they utilize the same policies). The direct-to-consumer sales model in particular holds influence over some policies, while the company's youth handcuffs it with respect to how it handles things like warranty risk on its financial statements.

Tesla recognizes revenue on the basis of revenue it believes it will collect, on vehicles delivered. This is a little bit different than companies that work with the dealer model, because Tesla sells directly to consumers, and takes substantial deposits. Deliveries are equivalent to sales for the company, which is different from most automakers, and the pre-payment and waiting lists typically mean that the company will not have many returns. It does offer…… [Read More]

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Accounting Case Study Legal Plan Services What

Words: 1115 Length: 4 Pages Document Type: Essay Paper #: 37990038

Accounting Case Study

Legal Plan Services

What type of product is Legal Plan Services selling? Tangible or intangible? What type of benefits does the client receive for his membership?

The kind of products that Legal Plan Services is selling is legal representation for civil litigation. The way the company's approach works is to provide customers with access to some of the top law firms for purchasing a membership. The services are considered to be intangible because this is not something that can be physically held. The benefits that the client receives are the ability to consult with any one of the attorneys from affiliate firms for free. This involves select cases including: personal injury, tax, criminal and civil related issues. If the client goes beyond a certain amount of hours is when the membership will provide a 25% discount on the firm's hourly rate. ("Intangible")

What accounting concepts, objectives, and…… [Read More]

References

"Generally Accepted Accounting Principles." CPA Needed, 2011. Web. 3 Feb. 2012.

"Intangible." The Free Dictionary, 2012. Web. 3 Feb. 2012

"Pro Forma." Investopedia, 2012. Web. 3 Feb. 2012

Briner, Russell. "Revenue Recognition." CPA Journal, 2001. Web. 3 Feb. 2012.
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Understanding P& 38 G'S Success

Words: 3509 Length: 9 Pages Document Type: Essay Paper #: 87942614

Procter and Gamble

Case Study about Procter and Gamble

Procter and Gamble (P&G) is a global American company specialized in consumer household and personal products. It has its headquarters at Cincinnati, Ohio, in the United States. Its founders are William Procter and James Gamble hence the name Procter and Gamble. The company was started in 1837 but fully incorporated in 1905. After its establishment, the company has grown to the extent that is controls a significant share in the global market share. Its brands are renowned and trade internationally currently ranked as the largest producer of consumer goods. The board of governors of eleven members runs the company, with A.G. Lefley being the board chairperson, president and CEO (Procter & Gamble, 2010).

P&G Market Strategy and Segments

Procter and Gamble Company (P&G) products and services have penetrated more than 180 countries and territories globally. Every multinational company has a strategy,…… [Read More]

References

Global Top 50 brands. (2013, April). SPC, 38-51.

Procter & Gamble Co (PG) . (n.d.). Retrieved September 25, 2014, from Reuters:  http://www.reuters.com/finance/stocks/overview?symbol=PG 

Procter & Gamble Co. (PG). (2014). Retrieved September 25, 2014, from Stocks

Analysis on Net: http://www.stock-analysis-on.net/NYSE/Company/Procter-Gamble-Co/Analysis/Revenues
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Planning the Audit of the

Words: 729 Length: 3 Pages Document Type: Essay Paper #: 26947363

(the Company) to the Loan Agreement with Western Financial Services (the Lender). For the purpose of providing you with this letter, other than as set out herein, we have carried out the audit and review of the Company's financial information

Report

Based solely on the procedures set out in the engagement letter dated October 9, 20X5 (see Attachment 1) we confirm that the Company is in compliance with all of its restrictive debt covenants with the Lender.

Our report as set out herein is confidential to the addressees of this letter and should not be made available to any other party without our written consent.

Yours faithfully

Charles Adam

Partner cc Chairman of the Board of Directors, Keystone Computers & Networks, Inc.

Memo

To FILES

From Warren Love

Karren West

Date November 14, 20X5

Subject Keystone Computers & Networks, Inc.

Revenue recognition - Accounting for the sale of extended warranty…… [Read More]

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Accounting There Are a Couple of Different

Words: 489 Length: 2 Pages Document Type: Essay Paper #: 91757615

Accounting

There are a couple of different issues with the Smith Company statements. The first question relates to the $45,500 worth of products. This would not be recorded as income, because the customer has not committed to the purchase. Revenue recognition rules hold that revenue cannot be recognized until the sale has been finalized (Investopedia, 2013). This revenue must be removed from the income statement. hile the description of the situation is unclear, it appears that this amount was removed from the revenue already, so that the $406,000 in revenue on the income statement is the correct amount.

The next issue is the inventory problem. The inventory account is currently showing $25,000, which was the result of a physical count. There was no adjusting entry to the inventory for the $45,500 that was added to and subsequently removed from revenue. The question appears to be implying, when it should be…… [Read More]

Works Cited:

AccountingTools.com. (2013). The matching principle. AccountingTools.com. Retrieved March 9, 2013 from http://www.accountingtools.com/matching-principle

Investopedia. (2013). Revenue recognition. Investopedia. Retrieved March 9, 2013 from  http://www.investopedia.com/terms/r/revenuerecognition.asp#axzz2N52vD1oy
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Business Plan for a Market

Words: 1665 Length: 6 Pages Document Type: Essay Paper #: 83134472

This can be defined at the system level of the consultancy's network architecture. Finally the firewall of the systems will be defined also through the definition of system parameters throughout the network operating system running the entire firm (Malecki, 2012). There will be little resistance to change for each of these implementations as they are designed to protect and streamline the work being completed in the firm. There will also be a clearer sense of accountability over data security once the Practice Leaders and senior consultants realize that if they accidentally lose their iPhone, iPad or laptop all data will be erased immediately, which forces them to be more vigilant how they uses these systems and also how they are backed up.

Impact of the egulatory Environment

As the proposed research and advisory firm is a private corporation, it does not need to comply with the Sarbanes-Oxley (SOX) Act as…… [Read More]

References

Cox, J. (2009). iPhone winning over it security skeptics. Network World, 26(34), 1-1,12.

Hamblen, M. (2012). iPhone 5: Pros and cons in the enterprise. Computerworld, 46(17), 6-6.

Henry, E., Lin, S., & Ya-wen Yang. (2009). The European-U.S. "GAAP gap": IFRS to U.S. GAAP form 20-F reconciliations. Accounting Horizons, 23(2), 121-150.

Malecki, F. (2012). Next-generation firewalls: Security with performance. Network Security, 2012(12), 19-20.
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Autodine Restaurants Business Plan

Words: 1932 Length: 6 Pages Document Type: Essay Paper #: 90609987

Business Description

The business created is an automated restaurant. Autodine Restaurant is a business venture that is expected to flourish and prosper in the forthcoming periods. This is an advanced business idea purposed to appeal to consumers within the market. The restaurant will provide meals and services similar to any 4-star hotel within the nation, and providing exclusive meals every Friday night. The general staffing plan is that human beings will cook the meals served within the restaurant. The rest of the work such as washing dishes, cleaning floors and serving of meals to the customers will be automated. The robots undertaking these services will be fully functional, being able to hear and understand different languages conveyed by consumers and being able to communicate in return (Cumming, 2012). In addition, the robots will be programmed to welcome the clients at the reception. This is meant to add to the appeal…… [Read More]

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Wareham SC Systems Over the

Words: 1168 Length: 3 Pages Document Type: Essay Paper #: 35365051



What revenue recognition accounting is required by the facts of each of the sale transactions reviewed by Soma Desai? Justify your conclusions.

The revenue recognition accounting method would be GAAP standards. The reason why, is because these transactions are not booked when the actual services were provided. Under SA 101, the company is going to be forced to comply with these standards. As result, the way the revenue is accounted for will have to be adjusted. A good example of this can be seen with XL Semi, where they would pay for 90% of services once they were delivered and the other 10% after acceptance. This is problematic because, it is booking the transaction over the course of time vs. when it was received. At which point, it makes complying with SA 101 more difficult and it could cause the company to have possible earnings shortfalls (based upon the way…… [Read More]

Bibliography

Hawkins, David. "Wareham Systems SC Inc." Harvard Business School. 9, no. 110 (2009): 1 -- 10.

Chicago Format. http://owl.english.purdue.edu/owl/resource/717/01/

Hawkins, David. "Wareham Systems SC Inc." Harvard Business School. 9, no. 110 (2009): 1 -- 10.

Hawkins, David. "Wareham Systems SC Inc." Harvard Business School. 9, no. 110 (2009): 1 -- 10.
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Hsbc and BNP Paribas

Words: 9025 Length: 35 Pages Document Type: Essay Paper #: 39800463

HSBC BNP

Comparative Analysis

HSBC: An Outlook

BNP Paribas: A Helicopter View

Comparison Between HSBC and BNP Paribas in the Banking Field

SWOT Analysis and the Bank's Operations in Middle East Especially in Dubai & Bahrain

PEST Analysis And the Bank's Operations in Middle East Especially in Dubai & Bahrain

External Analysis of HSBC and BNP

Competitive Profile Matrix (CPM)

Example of HSBC and BNP Around the World

Decisions

Quantitative Analysis

Customer Values Analysis

Value Chain Analysis of the Banks

The current corporate world and environment can be referred as the resolution of administration. Way backed in which bread-and-butter development depends entirely on accurate and automated inventions. However, in the avant-garde apple acceptable administration is all-important for able and able alive of organization, forth with abstruse advancement. Administration is all the added significant between the ambience of the enterprises of the business, neither a business can run on itself nor…… [Read More]

References

Adelman, C. (1998). Women and Men of the Engineering Path: A Model for Analyses of Undergraduate

Bhote, K. (2002). The Ultimate Six Sigma: Beyond Quality Excellence to Total Business Excellence. New York: American Management Association.

Bossert, J. (2003). "Lean and Six Sigma -- Synergy Made in Heaven." Quality Progress. 31-32.

Breyfogle, F.; Cupello, J.; and Meadows, B. 2000. Implementing Six Sigma: Smarter solutions using statistical methods. New York, NY: John Wiley & Sons.
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Toyota's Financial Reporting Contexts and Recommendations Measurement

Words: 1471 Length: 5 Pages Document Type: Essay Paper #: 63312540

Toyota's Financial eporting: Contexts And ecommendations

Measurement Models and Conceptual Framework

The basic conceptual framework behind the IASB and the accounting standards and recommendations made by this group is very straightforward. The standards are meant to create greater transparency, accuracy, and efficacy in financial reporting, which itself has the goal of providing useful information about the reporting entity's capacity as a capital provider -- to investors, creditors, etc. (Walton, 2011; Ernst & Young, 2008). On more far-reaching level, the conceptual framework of the IASB and its issued standards is built on the premise that consistency in accounting leads to more effective decision making when it comes to capital, which leads to a more productive and efficient economy (Walton, 2011). There are many specific ways in which consistency and transparency are encouraged through various measurement models set in this framework.

evenue recognition is one specific area of accounting and financial reporting…… [Read More]

References

Environmental Report. (2011). Examples of Kaizen Initiatives in Japan.

Ernst & Young. (2008). International GAAP 2008. New York: Wiley.

Toyota. (2011). Annual Report.

Toyota. (2011a). Consolidated financial reports.
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Ligand Pharmaceuticals

Words: 1561 Length: 5 Pages Document Type: Essay Paper #: 88527179

accounting standards and concepts violated by Ligand Pharmaceuticals, as well as the role of the PCAOB as a regulatory body.

Standards for Accounting of Sales Returns

The applicable standard includes FAS 48, which establishes standards for revenue recognition when the right of return exists. FAS 48, issued in 1981, specifies under what circumstances revenue is recognized on a sale in which a product may be returned. For a business that sells its products but gives buyers the right to return the product, FAS 48, paragraph 6, states that revenue from the sales transaction is recognized at the time of sale only if all of the six conditions specified in items a through f were met. One condition which proved a problem for Ligand was that "the amount of future returns can be reasonably estimated (paragraph 8)" (FASB, 1981, p. 5).

Paragraph 6 further specifies that, in the event that all…… [Read More]

Works Cited

AICPA. (1972). AU Section 560 Subsequent Events. Retrieved December 2, 2011 from:  http://www.aicpa.org/Research/Standards/AuditAttest/DownloadableDocuments/AU-00560.pdf 

FASB. (1981). Statement of Financial Accounting Standards No. 48). Retrieved December 2, 2011 from: http://www.fasb.org/cs/BlobServer?blobcol=urldata&blobtable=MungoBlobs&blobkey=id&blobwhere=1175820909255&blobheader=application%2Fpdf

Hilzenrath, D.S. (2010, July 11). Critics question effectiveness of auditing oversight board. The Washington Post. Retrieved December 2, 2011 from:  http://www.washingtonpost.com/wp-dyn/content/article/2010/07/10/AR2010071000074.html 

McKenna, F. (2010, June 26). Bigger, stronger, faster: The PCAOB after the Supreme Court ruling. Retrieved December 2, 2011 from:  http://retheauditors.com/2010/06/26/bigger-stronger-faster-the-pcaob-after-the-supreme-court-ruling/
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Havelock Europa Audit Risk

Words: 1648 Length: 5 Pages Document Type: Essay Paper #: 94650859

Auditing isk

Areas of Heightened Audit isk

Audit risk = Inherent risk x Control risk x Detection risk. Audit risk can be referred to as the probability that an audit team will give an outright and absolute judgment when the financial statements of an institution are in actual fact materially misstated. To start with, inherent risk is the possibility that material frauds and errors will get into the accounting system employed to cultivate and improve the financial statements. On the other hand, control risk is the possibility that the internal control system of a client or company is not able to prevent or detect material misstatements (Griffiths, 2005). Lastly, detection risk is the probability that an auditor's audit procedures will not able to detect material misstatements. Taking into consideration the financial statements and the management commentary in the annual report of Havelock Europa there are a number of areas of…… [Read More]

References

Griffiths, P. (2005). Risk-Based Auditing. Aldershot: Gower Publishing Limited.

Havelock Europa PLC. (2013). Annual Report 2013.

Goldman, P., Kaufman, H. (2011). Anti-Fraud Risk and Control Workbook. USA: South Western Cengage.

Rittenberg, L., Johnstone, K., Gramling, A. (2012). Auditing: A Business Risk Approach. USA: South Western Cengage.
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Earnings Management

Words: 1379 Length: 4 Pages Document Type: Essay Paper #: 97785237

Accounting Principles were designed to be flexible in an ever-changing business environment. No two industries are exactly alike in regards to their operations, capital structure, or organization. Likewise, no two companies within the same industry are exactly alike with respect to their overall capital structure and product offering. Accounting principles must account for this disparity with flexibility in application. It is this flexibility however, that allows management to manipulate the financial figures provided to present a rosy scenario. This rosy scenario may or may not reflect economic reality. It is due to this earnings management, that many companies attempt to hide or otherwise obfuscate the truth regarding company performance. While reviewing the annual report of Patton-Fuller Community Hospital, it appears that management is using aggressive account to hide the overall truth within the operations of the company. Aspect such as inadequate reserving, loosening of credit terms, and dubious inventory accounting…… [Read More]

References:

1) Akers, Michael D.; Giacomino, Don E.; Bellovary, Jodi L. "Earnings Management and Its Implications: Educating the Accounting Profession." The CPA Journal (2011). The New York State Society of CPAs

2) Dechow, Patricia; Douglas J. Skinner (2010). "Earnings Management: Reconciling the Views of Accounting Academics, Practitioners, and Regulators." Accounting Horizons 14 (2): 235 -- 250

3) Schipper, Katherine. 2010. "Commentary on Earnings Management." Accounting Horizons (December): 91 -- 102
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Accounting GAAP and IFRS

Words: 2554 Length: 8 Pages Document Type: Essay Paper #: 72191952

Accounting includes recording, summarizing, and reporting of the economic activities and events of an organization. It is pertinent in business decision-making and the management and control of operations. The financial statements reported by a company include the income statement, balance sheet, statement of retained earnings and statement of cash flows. Globally, there are two sets of accounting standards, the Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). In particular, the GAAP are more often than not employed in the United States whereas IFRS are more often than not employed in Europe and international expanses. IFRS are regarded as being more principles-based and U.S. GAAP as being more rules-based. The establishments responsible for setting the IFRS and GAAP are the International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB) respectively (Gaspar et al., 2016). The purpose of this paper is to discuss the difference between GAAP…… [Read More]

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Gulf Cement Company Is a

Words: 2320 Length: 8 Pages Document Type: Essay Paper #: 97589431

In the past, to finance acquisitions, the firm has mainly utilized "short-term debt and repaid such debt through the subsequent issuance of equity and long-term debt." The company has $11.5 million in variable rate debt which, if the interest rates increase, could cause an increased amount of cash to service the debt. With the company's current debt to equity ratio (mentioned in the financial analysis segment), and the current economic crisis, it may be difficult to raise the required capital to complete the acquisition.

Some concerns about the company's acquisitions are with stand-alone debt which increased to $14.5 million from $3.2 million, and they are counting with the sales of the some of these acquisitions assets to repay part of this debt. They are counting in their experience and ability to execute assets sales and drop -- downs to get meaningful cost saving as this is not the first time…… [Read More]

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IASB the International Accounting Standards Board IASB

Words: 1195 Length: 4 Pages Document Type: Essay Paper #: 42208337

IASB

The International Accounting Standards Board (IASB) currently has three types of active projects on their agenda. These include an agenda consultation project, financial crisis related projects, and memorandum of understanding projects. The following is a summary of these current active projects, their timetables established for the achievement of milestones, as well as the conceptual frameworks involved in the projects.

The first type of project currently active on the agenda of the IASB is an agenda consultation project in which the IASB initiated a formal public agenda consultation for the first time in July 2011. This consultation was focused on the future work plan of the IASB, and was aimed at obtaining input from the public regarding the work plan and its direction and balance. The agenda consultation was conducted with broad public participation, including awareness through conferences in Europe, North America, and South America, in which small group meetings…… [Read More]

References

IFRS. (2011) http://www.ifrs.org/Current+Projects/IASB+Projects/IASB+Work+Plan.htm. Retrieved 8 November, 2011.

Whittington, G. (2008). Fair value and the IASB/FASB conceptual framework: an alternative view. Abacus, 44(2), 139-68.
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Adjusting Entries Are Extra Journal Entries That

Words: 856 Length: 3 Pages Document Type: Essay Paper #: 97137284

Adjusting entries are extra journal entries that are prepared prior to the preparation of financial statements. These journal entries are usually prepared to ensure that the financial records of a company stick to the matching principles and revenue recognition. In simple terms, these entries are made in order to convert the accounting records of a company to the accrual basis of accounting. Since these entries are made on the basis of the revenue recognition principle, the basically relate to accrued and unearned revenues. As compared to several other entries that are made during the accounting period, adjusting entries are based on reality instead of source documents. Given that adjusting entries are often made at the conclusion of every closing period, they can either be prepared monthly, quarterly or annually depending on the company's closing period.

Adjusting entries are necessary because normal journal entries are usually dependent on the actual transactions…… [Read More]

References:

"Adjusting Entries." (2010). NetMBA: Business Knowledge Center. Retrieved March 30, 2011,

from  http://www.netmba.com/accounting/fin/process/adjusting/ 

"Adjusting Entries." (n.d.). CliffsNotes: The Fastest Way to Learn. Retrieved March 30, 2011,

from http://www.cliffsnotes.com/study_guide/Adjusting-Entries.topicArticleId-21081,articleId-21016.html
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Accounting Report for Referral Credit

Words: 927 Length: 5 Pages Document Type: Essay Paper #: 82672728

How should the $25 Referral Credit be recorded in Runway's income statement?

In accordance to ASC 605-50-45 Revenue Recognition, a cash consideration handed to a consumer by a vendor or retailer is deemed a decrease in the selling prices of the products or services retailed. This would imply that these cash considerations would be deemed as an expense and a decline in the revenue to be generated by the vendor. Nonetheless, the cash consideration can be deemed as an expense if it solely meets two requirements. First, the cash consideration has to give rise to an identifiable benefit that is separable from the purchase of the recipient, in the sense that the vendor could have achieved the benefit through a third party, and not the purchaser. Secondly, the value that is provided has to be reasonably approximated by the vendor (IAS Plus, 2016).

In this case, Runway does meet these…… [Read More]

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Accounting Report

Words: 955 Length: 3 Pages Document Type: Essay Paper #: 43996906

1. How should the $25 Referral Credit be recorded in Runway's income statement?

In accordance to ASC 605-50-45 Revenue Recognition, a cash consideration handed to a consumer by a vendor or retailer is deemed a decrease in the selling prices of the products or services retailed. This would imply that these cash considerations would be deemed as an expense and a decline in the revenue to be generated by the vendor. Nonetheless, the cash consideration can be deemed as an expense if it solely meets two requirements. First, the cash consideration has to give rise to an identifiable benefit that is separable from the purchase of the recipient, in the sense that the vendor could have achieved the benefit through a third party, and not the purchaser. Secondly, the value that is provided has to be reasonably approximated by the vendor (IAS Plus, 2016).

In this case, Runway does meet…… [Read More]

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Royal Dutch Shell PLC a Brief Recent

Words: 5673 Length: 20 Pages Document Type: Essay Paper #: 19217563

oyal Dutch Shell PLC

A Brief ecent History of oyal Dutch Shell PLC

eason Behind Choosing

Information Gathering and Accounting Business techniques

esult, Analysis, Conclusion & ecommendations

SWOT Analysis of DSP

Porter's Five Forces Analysis of the Chosen Company

Financial Analysis of DSP

Finance is the name of allocating the funds at a place from where the likelihood of receiving a good return is bright (Bragg, S2006). Organization is basically referred to a place wherein hundreds of people work together just to achieve a specific goal (Cinnamon, & Larsen, B.2006). The goal may be of two fold, like the goal can be economical or can be non-economical. According to the organizational officials and analysts, investment decisions are always tough to take as far as an organization is concerned (Cinnamon, & Larsen, B.2006). The economic decisions include ad hoc research, analysis and lots of study as well. The essence of risk…… [Read More]

References

Bragg, S (2006), Financial Analysis: A Control Guide, New York McGraw Hill Publications

Cinnamon, R & Larsen, B.H (2006), How to understand Business Finance, New York McGraw Hill Publications

Christian, G (2007), Econometrics & Financial Analysis, California John Wiley & Sons Professional Publications

Danial, L (2009), Financial & Business Analysis Techniques, New York McGraw Hill Publications
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Cost Aspects of Project Management

Words: 744 Length: 2 Pages Document Type: Essay Paper #: 97445889

Controlling Costs

The question does offer some good ideas and thoughts to keep in mind when it comes to controlling costs. Indeed, having internal employees as opposed to external employees like contractors and the like that cannot be directly controlled in all aspects by the project management team is usually advantageous. However, these exterior employees and their associated costs can be controlled via an agreed price in advance that will not vary based on the acumen (or lack thereof) of the people working on the project unless something unforeseeable changes or is revealed. In that case, the costs are going to go up regardless of whether the costs are internal or external.

As it relates to electricity being a "hidden cost," it has to be expected that a construction project that uses any electricity from the site/client itself is going to cost money. As such, there should be an expected…… [Read More]

References

PMI. (2013). A Guide to the Project Management Body of Knowledge: PMBOK (R) Guide (5th

ed., pp. 1-589). New York: Project Management Institute.

Rodriguez, F. (2010). Impact of revenue recognition methods in project cost control through earned value. PMI Virtual Library. Retrieved from http://pmqlinkedin.files.wordpress.com/2010/07/impact-of-revenue-recognition-methods-

in-project-cost-control-through-earned-value.pdf
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Elements on the Income Sheet of Nike

Words: 722 Length: 2 Pages Document Type: Essay Paper #: 63617301

Nikes Income Sheet

The latest Nike 10-K covers the period ending 31st May 2016 (Nike, 2016). Looking specifically at the consolidated income statement, this is very short, and although there is a subcategory for gross profit. Nike, 2016). This is the two step format, as there is a breakdown of the categories, operating income is separated from non-operating income and there is a subcategory for gross profit, these indicate the two step process (PWC, 2016). However, in the consolidated income statement, the information is very limited. Looking though the accounts, the notes do provide more detail, such as Item 7 which provides details on sources of income and in come by type of sales, more details of lease and capital costs, while note 8 provides a more detailed breakdown of long-term debt (Nike, 2016),.

The income statement is meant to provide an accurate representation of the financial position of the…… [Read More]

References

Accounting Study Guide. (2016), Revenue Recognition Principle, available at  http://accountinginfo.com/study/fs/revenue-101.htm 

Nike. (2016), Form 10-K. available at  http://s1.q4cdn.com/806093406/files/doc_financials/2016/ar/docs/nike-2016-form-10K.pdf 

PWC. (2014). Financial Statement Presentation, available at https://www.pwc.com/us/en/cfodirect/assets/pdf/accounting-guides/pwc-guide-financial-statement-presentation-2014.pdf
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Generally Accepted Accounting Principles in Health Care

Words: 962 Length: 3 Pages Document Type: Essay Paper #: 9750913

GAAP

Generally Accepted Accounting Principles in Health Care

GAAP (generally accepted accounting principles) in health care

Within the United States, all businesses that keep financial records must adhere to GAAP or generally accepted accounting principles, including both for-profit and not-for-profit healthcare entities. "GAAP is not a single accounting rule, but rather the aggregate of many rules on how to account for various transactions" (Kramer & Applebaum 2013). The first two principles of GAAP are that "financial records must be separately maintained for each economic entity" in a separate fashion and that "an economic entity's accounting records include only quantifiable transactions. Certain economic events that affect a company, such as hiring a new chief executive officer or introducing a new product, cannot be easily quantified in monetary units and, therefore, do not appear in the company's accounting records" (GAAP, 2013, Houghton Mifflin Harcourt). These details may be included as qualitative data…… [Read More]

References

GAAP. (2013). Houghton Mifflin Harcourt. Retrieved:

http://www.cliffsnotes.com/more-subjects/accounting/accounting-principles-i/principles-of-accounting/generally-accepted-accounting-principles

Kramer, J & Applebaum, S. (2013). Accounts receivable from third-party payors: A GAAP

refresher. South Florida Hospital News. Retrieved from:
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Business it Is Vital for Business Owners

Words: 1645 Length: 4 Pages Document Type: Essay Paper #: 86745992

business, it is vital for business owners to measure the value of their assets and to evaluate the performance of their business at any point in time. In fact, majority of strategies for popular multinational corporations, such as Samsung, Apple and Starbucks, are formulated based on the financial performance of the company as compared to other companies in a particular industry. Two courses, ACC201 and FIN301, introduce learners to fundamental principles in accounting and finance, which are meant to equip the said learners with the knowledge and skills needed to understand how businesses are valued and how leaders make important financial decisions that affect their companies in the long-run. This text summarizes the readings and assignments we covered in ACC201 and FIN301, the skills learnt and how they will be applicable in future careers.

Module 1 introduced us to the analysis of various financial statements. Using this skill, we went…… [Read More]

References

The Gap, Inc. (2015). Annual reports and proxy. Retrieved January 25, 2015 from http://investors.gapinc.com/phoenix.zhtml?c=111302&p=irol-reportsAnnual

Verizon. (2015). Annual reports. Retrieved January 25, 2015 from  http://www.verizon.com/about/investors/ 

Weygandt, J.J, Kimmel, P. D & Kieso, D.E. (2010) Managerial Accounting: Tools for Business Decision Making. New Aster: John Wiley & Sons, Inc.

Yahoo! Finance. (2015). Apple, Inc. Cash Flow. Retrieved January 25, 2015 from  http://finance.yahoo.com /q/cf?s=AAPL+Cash+Flow&annual
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Johnson Sarah 2008 April 4

Words: 909 Length: 3 Pages Document Type: Essay Paper #: 58451241



hese preferences aside, American multinationals like PepsiCo and Procter & Gamble, are examining how a possible shift away from GAAP would affect their revenue recognition, taxation, and hedge accounting in the near and far future. In many cases, the overall, self-interested impression is positive as IFRS tend to make a company's returns look higher. But for smaller U.S. companies without an outreach abroad, the advantages of a switch to IFRS are less clear, as they have not been keeping two books all along like multinationals. More time-consuming (an estimated 18-24 months) headaches and paperwork as companies switch to IFRS seem likely -- and a tremendous financial drain is almost certain upon all organization's revenues during the period of transition. "Procter & Gamble hasn't pinned down an exact number, but expects a conversion project would cost tens of millions of dollars" (Johnson 2008, p. 2). European companies who have already switched…… [Read More]

These preferences aside, American multinationals like PepsiCo and Procter & Gamble, are examining how a possible shift away from GAAP would affect their revenue recognition, taxation, and hedge accounting in the near and far future. In many cases, the overall, self-interested impression is positive as IFRS tend to make a company's returns look higher. But for smaller U.S. companies without an outreach abroad, the advantages of a switch to IFRS are less clear, as they have not been keeping two books all along like multinationals. More time-consuming (an estimated 18-24 months) headaches and paperwork as companies switch to IFRS seem likely -- and a tremendous financial drain is almost certain upon all organization's revenues during the period of transition. "Procter & Gamble hasn't pinned down an exact number, but expects a conversion project would cost tens of millions of dollars" (Johnson 2008, p. 2). European companies who have already switched from their local systems to IFRS estimated that they spent an average 0.05% of their revenue in their first year of switching from their local standards to IFRS (Johnson 2008, p. 2).

Additionally, not all U.S. firms will show higher profits if there is a total transition to IFRS. International standards bar the use of LIFO (last in, first out) accounting, which confers sizable tax benefits to some companies in many industries. However, like it or not, a shift away from GAAP seems to be the trend of the future: even smaller European companies which chafed at the retreat from their homegrown GAAP were forced to comply eventually. "The EU's smaller companies, with less exposure to IFRS, took longer to respond to the mandate. Many didn't get serious until the year before filings were due…there's something to be said for taking a wait-and-see approach and letting the standard-setters continue to work on convergence" (Johnson 2008, p.2). Methods of revenue recognition, accounting for pensions and leases, and financial-statement presentation are all points of controversy between the two systems at present within the U.S.

Yet the difficulties of the transition, particularly for U.S. firms, may be overstated: "it is apparently much easier to transition from a more prescriptive set of standards to one that allows more judgment" (Johnson 2008, p.3). Because America's GAAP is so rigorous in nature, U.S. companies may experience less heartache than their European counterparts who transitioned from less scrupulous local standards to international standards. The benefits of a homogeneous international standard will likely be enjoyed by all in the very long run in this global economy, but the transition may be painful for some firms -- and more financially gut-wrenching for smaller U.S. institutions than large ones.
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International Accounting - Evaluate Research Theories and

Words: 3122 Length: 8 Pages Document Type: Essay Paper #: 70475976

International accounting - Evaluate research theories and methodologies to classify accounting systems internationally

The necessity of accounting standards is given by the fact that financial statements should describe financial performance in a fair and consistent manner. Lacking standards, users of financial statements would be required to master the accounting rules of each company, and any comparison between companies' performances would be almost impossible.

Accounting standards are essential to the healthy development of an international financial reporting structure. Around the world several accounting traditions have been developed as a response to the needs of users who are in need of the financial information. Some countries, for instance, chose to build the structure of accounting standards around the needs of private creditors, while other countries were more concerned with the needs of tax authorities or central planners. As a characteristic of the United States, the needs of participants in the capital markets…… [Read More]

Bibliography

1. SEC Concept Release: International Accounting Standards

SECURITIES AND EXCHANGE COMMISSION

17 CFR PARTS 230 and 240

RELEASE NOS. 33-7801, 34-42430; INTERNATIONAL SERIES NO. 1215]
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Sunbeam Corporation's Fraudulent Accounting for Its Financial

Words: 3583 Length: 11 Pages Document Type: Essay Paper #: 84529109

unbeam Corporation's fraudulent accounting for its financial years 1996, 1997 and early 1998. The essay also reviews the historic audit failure that occurred, and discusses factors that contributed to the scandal and ways in which it might have been prevented.

unbeam, the consumer brand name that was to become well-known among generations of Americans, had its beginnings in 1893 when founders John K. tewart and Thomas J. Clark began manufacturing and selling a commercial horse clipping machine in Chicago. In 1897 the company was incorporated as the Chicago Flexible haft Company. When the company began manufacturing an electric iron named "The Princess," its first electric appliance, the product's introduction marked the beginning of the Electrical Appliance Division of today's Jarden Corporation (Jarden, 2011).

In the early years, the company's products, ranging from toasters to irons to mixers, were so successful that the company changed its name to the unbeam Corporation…… [Read More]

Securities and Exchange Commission. (1999). SEC Staff Accounting Bulletin: No. 99 -- Materiality. [online] Available at: [Accessed 23 December 2011].

Stanwick, S. And Stanwick, P. (2003). Sunbeam Corporation: "Chainsaw Al" and the Quest for a Turnaround. Auburn University. [online] Available at: [Accessed 23 December 2011].

Zabel, R.B. And Benjamin, J.J. (2002). Reviewing Materiality in Accounting Fraud. New York Law Journal. [online] Available at: [Accessed 23 December 2011].
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Reporting of Capital and Operating Leases and

Words: 1730 Length: 6 Pages Document Type: Essay Paper #: 59747766

reporting of capital and operating leases and their impact on fair value measurements. The essay surveys lease accounting standards from 1976 thru the present.

The basic principle of lease accounting is that some leases are merely rentals, while others are in effect purchases. U.S. regulations that specify lease accounting rules are issued by the Financial Accounting Standards Board (FASB). The primary FASB statement on leases was Number 13, issued in 1976, and is also known as FAS 13, SFAS 13 and FASB 13. Over the years it has been amended several times by additional FAS, including FAS 22, FAS 23, FAS 27, FAS 28, FAS 29, FAS 98, and FAS 121. In addition to financial accounting standards, various interpretations and technical bulletins have also been issued to provide additional guidance. Lease accounting rules were previously labeled as section L10 in the FASB Current Text, while the new FASB Codification uses…… [Read More]

Works Cited

Epstein, Barry J. "Accounting for Leases IFRS vs. GAAP. " IFRS Accounting. 2011. 16 September 2011. .

"History of Lease Accounting (Agenda Paper 2)." Joint International Working Group on Leasing. International Accounting Standards Board and Financial Accounting Standards Board. London. 15 February 2007.

"Leases (Topic 840)." Financial Accounting Standards Board. August 17, 2010: 1. Financial Accounting Foundation. 2011. 16 September 2011. .

"Lease Accounting Rules." Financial Computer Systems, Inc. 2007. 16 September 2011. .
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Building a Secure Workflow Management

Words: 11534 Length: 35 Pages Document Type: Essay Paper #: 30861705

Each onion router removes a layer of encryption to uncover routing instructions, and sends the message to the next router where this is repeated. This prevents these intermediary nodes from knowing the origin, destination, and contents of the message.

1.4.

Lecture Survey.

The predicted solution of the problems related to e-government administration depends on answering the following questions as brainstorming ideas to solve the problem and the features provided by the system or application.

1. An important step for processing of e-Government.

2. To ensure the confidentiality of information such as contracts for military weapons and other by Providing a high level of security as it is based on singing the data by combining multiple key values like user id, date stamp and transaction id which produce an encrypted key utilized and used only internally by the system for authentication and validation of user privileges. This procedure would make it…… [Read More]

References

Averyt, William. (2005). E-Government Reconsidered: Renewal of Governance for the Knowledge Age. American Review of Canadian Studies 35(4): 769-770.

Chaffee, a. (2000-08-17). "What is a web application (or "webapp")?"

Cohen, JE. (2000). Examined Lives: Informational Privacy and the Subject as Object. Stanford Law Review 52(5): 1373.

Bourquard, J.A. (2003, March). What's Up with E-Government? Digital Government Isn't a Silver Bullet, but as Part of a Long-Term Plan it May Provide a Means to Reduce State
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Improving the CRM Suite of Software Applications

Words: 3357 Length: 9 Pages Document Type: Essay Paper #: 28984458

Improving the CM Suite of Software Applications at SAP

SAP AG (NYSE:SAP) is the worldwide leader in Enterprise esource Planning (EP) and one of the top companies globally in Customer elationship management (CM) software as well. While their dominance in EP is solid, with Gartner, a leading industry research firm reporting that SAP has 25% global market share today, it's global CM market share trails Salesforce.com who is the worldwide leader with 14% market share worldwide (SAP Investor elations, 2013). SAP is second globally with 12.9% market share. There are many factors contributing to SAP trailing Salesforce.com, the most significant being the slow response to the shift to cloud computing platforms in general, and migrating their CM applications onto a Software-as-a-Service (SaaS) delivery model. Salesforce is the global leader in CM due to their rapid development of CM applications on the SaaS platform, greater responsiveness to their growing customer base,…… [Read More]

References

Bednarz, A. (2006). SAP unveils hosted CRM plans. Network World, 23(5), 45-45.

Coman, A. & Ronen, B. 2009, "Focused SWOT: diagnosing critical strengths and weaknesses," International Journal of Production Research, vol. 47, no. 20, pp. 5677.

Elmuti, D., Jia, H., & Gray, D. (2009). Customer relationship management strategic application and organizational effectiveness: An empirical investigation. Journal of Strategic Marketing, 17(1), 75.

Fonseca, B. (2007). SAP unveils web 2.0 look for its CRM tool. Computerworld, 41(50), 12-12.
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Expedia Is a Holding Company

Words: 2975 Length: 10 Pages Document Type: Essay Paper #: 53038184

This experience also extends to partnerships throughout the industry, for example with major hotel chains and airline groups. Expedia is able to work with those companies to package off unused capacity in exchange for superior pricing and exclusive deals on attractive packages.

It must be considered that the combined effect of Expedia's experience, strong brand and high traffic, along with its ample financial might, enables the company to compete as a cost leader in the packaged vacation business, as well as operate a differentiated strategy. The Expedia website will be able to consistently offer very low prices, because it does substantial volume. The high traffic also allows the company to offer packages that other travel agents simply cannot offer. Expedia can gain exclusive deals, based on its partnerships within the industry, and these will be tough for most competitors to match.

In addition, Expedia's family of brands allows it to…… [Read More]

Works Cited:

2009 Expedia Annual Report. Retrieved December 8, 2010 from http://files.shareholder.com/downloads/EXPE/1089237301x0x380770/B0610802-5ED2-481C-AE99-C00480EE5DB6/ar09.pdf

Alexa.com. (2010). Retrieved December 8, 2010 from  http://www.alexa.com/ 

ASTA. (2009). ASTA releases landmark survey study on U.S. packaged travel industry. American Society of Travel Agents. Retrieved December 8, 2010 from  http://www.asta.org/news/prdetail.cfm?itemnumber=5490 

ExpediaInc.com. (2010). Company facts & history. Expedia. Retrieved December 8, 2010 from http://www.expediainc.com/company.cfm
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Enron Was the Seventh Largest

Words: 27112 Length: 99 Pages Document Type: Essay Paper #: 47234018



Enron could engage in their derivative trading strategy with no fear of government intervention because derivative trading was specifically exempted from government regulation. Due in part to a ruling by the Commodity Futures Trading Commission's (CFTC) chairwoman, Wendy Graham, derivatives remained free of regulatory oversight. Ms. Graham, wife of Texas senator Phil Graham, made this ruling 5 weeks before resigning as chairwoman of the CFTC and joining the Enron oard of Directors in 1993.

Derivative accounting is further complicated because there is no consistent way to fairly report their value and risk in a company's financial report. In 1998 Rule No. 133, "Accounting for Derivative Instruments and Hedging Activities" was developed by the Financial Accounting Standards oard (FAS), an independent agency that sets guidelines for corporate auditors. Rule 133 contains more than 800 pages, which further complicates its adoption and consistent interpretation by various companies. SFAS No. 133 was subsequently…… [Read More]

Bibliography

Dettmer, Jamie, and John Berlau. "Requiem for Enron: There's Enough Blame to Go around for the Collapse of the Energy Giant From Executives to Auditors to Financial Analysts to Congress." Insight on the News 7 Jan. 2002: 12+. Questia. 10 Mar. 2005 .

Folbre, Nancy. "Blowing the Whistle on Poverty Policy." Review of Social Economy 61.4 (2003): 479+. Questia. 10 Mar. 2005 .

Gup, Benton E., ed. Too Big to Fail: Policies and Practices in Government Bailouts / . Westport, CT: Praeger, 2003.

Hartgraves, Ai L., and George J. Benston. "The Evolving Accounting Standards for Special Purpose Entities and Consolidations." Accounting Horizons 16.3 (2002): 245+..
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Ethical and Legal Obligations in Financial Reporting

Words: 1865 Length: 4 Pages Document Type: Essay Paper #: 83102397

Ethical and Legal obligations in financial reporting is extremely important in today's world, fraught as it is with corporate frauds and accounting scams and scandals of every other sort. One Company, the Thornburg Investment Company, has taken a firm stand on financial reporting within its company, wherein all concerned officials are expected to report accurately, any actual, as well as suspected violations and breaches in the laws and rules and regulations of the company, to the appropriate personnel, immediately. (Code of Business Conduct and Ethics) Another Company, the 'Trinity Capital Corporation' stresses the importance of adhering to the rules and regulations created by the Company so that the company's loyalty to its numerous shareholders may be apparent. Where financial reporting is concerned, all the employees of the firm are expected to comply with the generally accepted rules laid down by the accounting principles of the United States of America, so…… [Read More]

REFERENCES

"Accounting Concepts, underlying assumptions, principles, and conventions" Retrieved From

http://www.quickmba.com/accounting/fin/concepts / Accessed on 20 June, 2005

"Business Conduct and Ethics Policy" Retrieved From

http://www.lanb.com/tcc/bcecharter.asp Accessed on 19 June, 2005
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Several Accounting Principles Defined

Words: 690 Length: 2 Pages Document Type: Essay Paper #: 44540003

Budgets & Financial Plans

Provide the 10 main accounting principles and guidelines and describe each.

The ten accounting principles are described on the Accounting Coach website and are as follows:

Economic Entity Assumption -- This is the idea that a sole proprietor will keep personal and business transaction data and funds separate (Accounting Coach, 2015).

Monetary Unit Assumption -- This is the idea that all transactions recorded will be in U.S. dollars and that only transactions that CAN be reported as such will be done (Accounting Coach, 2015).

Time Period Assumption -- This is the principle that says that economic data will be defined based on specific time horizons such as a number of weeks, months, quarters and/or years (Accounting Coach, 2015).

Cost Principle -- This is the idea that there is a cash or cash equivalent that can and should be assigned to a given activity. For example, a…… [Read More]

References

Accounting Coach. (2015). Accounting Principles -- Explanation -- Accounting Coach. AccountingCoach.com. Retrieved 26 October 2015, from http://www.accountingcoach.com/accounting-principles/explanation

Brown, K. (2015). Arthur Andersen's Fall From Grace Is a Sad Tale of Greed and Miscues. WSJ. Retrieved 26 October 2015, from http://www.wsj.com/articles/SB1023409436545200

Business Dictionary. (2015). What is financial audit? Definition & meaning. BusinessDictionary.com. Retrieved 26 October 2015, from http://www.businessdictionary.com/definition/financial-audit.html
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financial terms and definitions

Words: 487 Length: 2 Pages Document Type: Essay Paper #: 29596991

Nike

In its 2016 Form 10-K, on page 106, Nike notes its policy with respect to depreciation as follows:

Depreciation is determined on a straight line basis for buildings and leasehold improvements over 2 to 40 years for machinery and equipment over 2 to 15 years.

Depreciation and amortization of assets used in manufacturing, warehousing, and product distribution are recorded in Cost of Sales. Depreciation and amortization of other assets are recorded in Operating Overhead Expense.

If Nike has incorrectly estimated the useful life, and the asset is impaired, it has a process for the impairment of such assets. The company would impair the asset on its remaining book value less the expected future cash flows from having the asset. If the asset is useful for longer than its book value, there is nothing that needs to be done. The purchase has been fully depreciated, so the asset has no…… [Read More]

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Innovations in Technology in Recent

Words: 4737 Length: 17 Pages Document Type: Essay Paper #: 1054395

One such exemplary resource is Epicor's recent guide, "Managing Today's Professional Services Organization: How to Improve Efficiency and Increase Profits" (2011). Although the guide contains some self-serving information concerning Epicor's own IT product line, the bulk of the guide is devoted to timely and informative insights concerning how IT can facilitate project delivery in professional services organizations. For instance, according to Epicor's guide:

Ultimately, a successful operational model demands higher-order tools such as resource, opportunity and knowledge management to achieve operational best practices. The reality facing most organizations, from small, specialized firms to the largest, most sophisticated multinational consulting agencies, is the same -- each faces significant challenges related to accurately and efficiently capturing time and expense, managing work-in-progress, generating and approving invoices, and reporting on project and client status. (Managing today's professional services organization, 2011, p. 1)

Given the wide array of enterprises that now fall under the umbrella…… [Read More]

References

Ashby, M.D. & Miles, S.A. (2002). Leaders talk leadership: Top executives speak their minds.

New York: Oxford University Press.

Bielski, L. (2002). Talent is available, will anyone grab it? ABA Banking Journal, 94(5), 30-32.

Copeland, M.C. (2010, August). Marketing and advertising for CPAs: Leading-edge strategies.
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IPO in the Last Few

Words: 2222 Length: 8 Pages Document Type: Essay Paper #: 85987594

Many companies go public so that they can expand and so that they can offer employees additional benefits. In addition Shepherd, et al. 2001 asserts that An initial public offering appears to offer the entrepreneurial company a number of benefits, including legitimacy with stakeholders, access to debt capital (Sutton & Benedetto, 1988), and a mechanism by which entrepreneurs can reacquire control from investors (Black & Gilson, 1998). For investors, an IPO represents an exit mechanism (Sutton & Benedetto, 1988). Sahlman (1990) documents that almost all of the returns on venture capital funds are earned on companies that go public. Bygrave and Timmons (1991, p. 159) note that "hot IPO markets are by far the most important cause of peaks in venture capital returns (Shepherd, et al. 2001)."

As it relates to IPO and the current market environment the main incentive is still raising funds to expand the company and solidify…… [Read More]

References

Evans, L., & Strenski, J.B. (1996). EDGAR and IPOs: The Challenge of Going Public. Public Relations Quarterly, 41(4), 38+.

Gutterman, A.S. (1994). The Legal Considerations in Business Financing: A Guide for Corporate Management. Westport, CT: Quorum Books.

Jagannathan S., Venkatesam, R. Oct 26, 2001A Roadmap for an Entrepreneur, Stage 4: Going Public. http://www.phptr.com/articles/article.asp?p=23771&rl=1

Shepherd, D.A., & Zacharakis, A. (2001). Speed to Initial Public Offering of VC-Backed Companies. Entrepreneurship: Theory and Practice, 25(3), 59.
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Value of Accounting Standards

Words: 3077 Length: 9 Pages Document Type: Essay Paper #: 22374555

Value of Accounting Standards

Accounting rules are designed to serve the capital markets and make these markets work efficiently. Accounting rules are essential to the efficient functioning of the economy because decisions about the allocation of resources rely heavily on credible, concise, transparent and understandable financial information. Without standard measures of the worth of a company, lenders and investors would have no way in which to evaluate the worth of the business, so these rules are essential to the capital markets. With the rise of multinational businesses, it is essential that these rules be uniform throughout the world. Generally accepted accounting principles (GAAP) are the accounting rules used to prepare financial statements for publicly traded companies and many private companies in the United States. In the United States, as well as other countries practicing English common law system, the government does not set accounting standards, in the belief that the…… [Read More]

Bibliography

Hunt, Isaac C. "Speech by SEC Staff: Financial Reporting and the Global Capital Markets." March 23, 2000. June 7, 2005. .

Leisenring, James J. "FASB Perspectives on the Development of International Accounting Standards." March 9, 1998. Financial Accounting Standards Board. June 6, 2005. .

Murray, John C. "Cross-Border Real Estate Transactions: The Development and Implementation of International Accounting Standards." 2000. June 6, 2005. .

"Seeking International Collaboration on Accounting Standards." October 21, 2003. Japan Business Federation. June 7, 2005. .
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Financial Standards and Reporting Process of Germany and Its Effects on Deutsche Bank

Words: 2690 Length: 10 Pages Document Type: Essay Paper #: 92236307

Financial Standards

eporting standards for financial transactions have been varied with regard to countries and companies across the globe for many years. This fact has made it difficult for transactions to be reported with any great degree of accuracy. This was especially true in Germany where there was no true German GAAP. What the rest of the world has considered the German GAAP, the GoB, was actually comprised of here say and opinion gleaned from many different sources. With the advent of the IASB that the European Union adopted in 2007, Germany has finally decided on a single standard with which to govern financial reporting. Large companies within the country, such as Deutsche Bank, have had to make adjustments to the new standards, but this does not seem to have caused a problem. Since the country has loosely used international standards for many years, the new IASB is not new…… [Read More]

References

Bonthrone, R. (2000). German financial accounting and reporting. Translation Journal, 4(3). Retrieved from  http://translationjournal.net/journal/13finan.htm 

Deutsche Bank. (2011). Company. Deutsche Bank. Retrieved from http://www.db.com/en/content/company/company.htm

Feige, P. (1997). How "uniform" is financial accounting in Germany? European Accounting Review, 6(1), 109-122.

Gornik-Tomaszewski, S., & McCarthy, I.N. (2003). Cooperation between FASB and IASB to achieve convergence of accounting standards. Review of Business, 24(2), 52-61.
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FASB SEC and PCAOB the

Words: 1571 Length: 4 Pages Document Type: Essay Paper #: 22607140

However, the study made by obert J. Warth-Ethics in the Accounting Profession- concludes the necessity of better planning of the structure of education, improvements in the measure of compliance and a variation in the concentration on ethics training and discussions.

The studies made by Curtis C. Verschoor-Accounting involve Ethics, not just technical issues emphasize the significance of ethics to the profession and the accounting involves morality and not just technical issues. The study made by Lynda on 'Should we teach ethics in accounting education' reveals that accounting students should be taught about the ethical aspects so that they can form sound decisions which are reasoned. She stressed on inclusion of ethics into several phases of the profession, including academia and that ethics training and education are to be stressed upon in both the workplace and academia. The studies have established that the ethics is essential in the accounting profession and…… [Read More]

REFERENCES

'FASB: 30 Years of Setting the Standard" The FASB Report. September 30, 2003. Retrieved

from http://www.fasb.org/articles& reports/fasb_30-years.pdf

Accessed 21 October, 2005

'Financial Accounting Standards Board" Retrieved from http://en.wikipedia.org/wiki/FASB
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International Accounting Standards There Is

Words: 1969 Length: 5 Pages Document Type: Essay Paper #: 12953224

Apart from this FASB has decided that capitalization of IP&D will only apply to business combinations. When assets are purchased, and they are not viewed as businesses under GAAP in U.S., would continue to have IP&D as expenses. One of the results could be to have businesses which are now following GAAP to find out new methods so that they could avoid capitalizing IP&D. The importance of this issue can be seen in the following statement by David Mosso, the FASB chairperson "ule 203 status adds that weight by strengthening the link between Federal financial accountants and the rest of the profession."

Conclusion:

To conclude, it could be said that getting information regarding accounting changes is not so difficult today. There are many issues on accounting and auditing that can be resolved through the search of sites that exist for the purpose of providing accounting and auditing related information.

End…… [Read More]

References

Brackney, Kennard S; Witmer, Philip. R. The European Union's Role in International Standards

Setting: Will bumps in the Road to Convergence Affect the SEC's Plans? The CPA Journal. November, 2005. Retrieved at http://www.nysscpa.org/cpajournal/2005/1105/infocus/p20.htm. Accessed 14 November, 2005

De Bell, Tony; D'Arecca, James. Sweeping Changes Coming in Worldwide M&A Accounting. 20

October 2005. Retrieved at http://www.cfodirect.com/cfopublic.nsf/vContentPrint/1CBFC24756BEFCEA852570A0006590DA?OpenDocumentAccessed 14 November, 2005
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Financial Analysis This Report Will

Words: 2275 Length: 8 Pages Document Type: Essay Paper #: 93675121

5 times the actual value of equity.

The return on investment is calculated by dividing the total net profits by the total assets value and shows the "overall effectiveness to generate profits from total investment in assets." At the Colorado Group, the return on investment amounted to 20.4% in 2006 and 21.5% in 2005. The small decrease from 2005 to 2006 can be explained by the fact that that the net profits decreased significantly during this period of time and that the decrease of the total assets value was by no means similar in value.

The gross profit margin is calculated by dividing the net sales minus the cost of goods sold by the net sales value and shows the "profitability of a company's sales after the cost of sales has been deducted." In this case, in 2006 this ratio was equal to 54.4%, as compared to 55.9% in 2005.…… [Read More]

Bibliography

1. Financial Ratios. Cardinal Stritch University Library. On the Internet at http://library.stritch.edu/guides/financialratio.htm

2. The company's 2006 Annual Report

Financial Ratios. Cardinal Stritch University Library. On the Internet at http://library.stritch.edu/guides/financialratio.htm

Page 2 - chairman's report
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Culture Accounting and Ethical Issues Healthcare Administration

Words: 979 Length: 2 Pages Document Type: Essay Paper #: 47763184

Healthcare Administration: Culture, Accounting, And Ethical Issues

Cultural Diversity

The causes of prejudice

Prejudice is described as the generalization of a group of people, based on negative attitudes that stem from stereotypes and non-factual beliefs. Although the reasons for prejudice may vary, Samovar, Porter and McDaniel (2009) explain three major motivations: societal pressures, social identities and scapegoating. Societal sources refer to rules and regulations that may be put in place in a given society to maintain one group's dominance over others. Social identities, on the other hand, are people's connection to their cultures and beliefs. Any groups that are deemed a threat to this connection are treated as enemies and are often at the receiving end of prejudice. Sometimes, different groups, such as gays and African-Americans are used as scapegoats to express anger and discontentment over various issues in society (Samovar, Porter and McDaniel, 2009). This allows one group to…… [Read More]

References

Kazmier, J.L. (2008). Introduction to Healthcare Law. Clifton Park, New York: Cengage Learning

Samovar, L.A., Porter, R.E. & McDaniel, E.R. (2009). Communication between Cultures (7th Ed.). South-Western: Cengage Learning

Warren, C.S., Reeve, J.M. & Duchac, J.E. (2013). Financial Accounting (13th Ed.) South- Western: Cengage Learning