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    The Revenue Recognition Principle

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    Understanding Unearned Revnue

    What types of industries have unearned revenue? Why is unearned revenue considered a liability? When is the unearned revenue recognized in the financial statements?

    Company performance review

    Harvard Business Case: 9-100-022 June 18, 2001 David F. Hawkins Seitel, Inc. Decide on company's operational/financial strategy - what reporting tools to use and assess the financial figures.

    Memorandums

    As the accountant for Pure-Air Distributing, you attend a sales managers meeting devoted to a discussion of credit policies. At the meeting, you report that Bad Debts expense is estimated to be $59,000 and Accounts Receivable at year amount to be $1,750,000, less a $43,000 allowance for Doubtful accounts. Sid Omar, a sales manag

    Definition of Integrity in Accounting

    Integrity Discussion The American Heritage Dictionary defines integrity as "a rigid adherence to a code or standard of values; a state of being unimpaired; soundness; the quality or condition of being whole or undivided." One acquires integrity through a variety of sources. In your discussion of the topic, discuss what i

    Incentives and Reward Systems

    In the Magic Grafix simulation, you saw a number of possible alternatives for rewarding employees in different groups. They included the following: Individual incentives Gain sharing Profit sharing Lump sum merit awards Spot bonuses Group incentives What were the "best" choices for each of the three business grou

    The Relationship Between Measurement and Recognition

    Read the Frantek, Inc. case and respond to the following: a. Analyze the relationship between measurement and recognition. b. Explain recognition criteria in the context of this case. Case: Revenue Recognition, Inventory Valuation, and Liability Recognition Issues Frantek, Inc. is a manufacturer of microcomputer parts

    Starting a Business

    Ralph Emerson thought he'd been a librarian long enough, and when the opportunity to open a small tobacco, pipe, and cigar shop in the newly renovated downtown business district arose, he was ready to act. Pipe Dreams is a franchisor of smoke shops, and was founded eight years ago by a noted tobacconist in New York City. The con

    Recognition of Profits on long term contracts

    I am studying for a test that will have the following type of problems listed. I would like to use these as examples to follow in the course book. I pulled up similar topics on the internet but it does not apply to academics 4. (Recognition of Profit on Long-Term Contracts) During 2004 Pierson Company started a constru