Wareham SC Systems‚ Inc. Case Study Wareham SC Systems current revenue recognition policy states that they recognize revenue when they have shipped their product to the customer. SC Systems also adjusts for warranty by estimating how much money will be spent on fulfilling those warranties. They subtract this estimation of warranties from the total revenues for shipped products. For other types of specific contracts‚ such as service contracts‚ they use the percentage-of-completion accounting
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Estimated liabilities are a known obligation that is of an uncertain amount but that can be reasonable estimated. Common examples are employee benefits such as pensions‚ heath care and vacation pay‚ and warranties offered by a seller (Fundamental Accounting Principles‚ Chapter 11‚ Pg 437). When a firm sells products or renders services with a warranty‚ the firms has an obligation towards the customer when the warranty is honored. The warranty liability is an estimate of the obligations. Hence‚ a
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DB Query Response Time 1. On the Results Browser‚ make sure you are on Current Project so you have both sets of results. Expand DB Query and Select DB Query Response Time (sec). Hit the Show button. Zoom into the last half portion of the graph for better granularity and to avoid start up oscillation time to stabilize. Copy and label this graph to your lab report and answer the following: 1. Which run has a better (lower) DB Query Response time? The scenario that runs the silence suppression
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The toothpaste market in India is estimated at 7000 crores with a CAGR of approximately 12% between the 2008-2013 timeframe. The toothpaste (or in general‚ the oral care) industry is marked by: Low Bargaining Power of Suppliers owing to commoditized raw materials High Bargaining Powers of Customers owing to low switching costs and high number of options. High Rivalry amongst players owing to multi-player nature of the industry with frequent product launches. Medium Threat of New Entrants owing
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Destination: Myrtle Beach‚ South Carolina 1. Departure Details Two of my friends and I are planning a road trip to Myrtle Beach‚ South Carolina. We plan to leave on Friday‚ April 25th‚ 2014. Since all three of us want to go together and enjoy as much as we can‚ we first have to plan all the details for the trip carefully. 2. Destination Details Our destination is going to be South Carolina. This is one of the most crowded cities in the US‚ so we have to plan our trip ahead of time to avoid any dangerous
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Unit 4 P3 Understanding risk assessment processes & risks associated with everyday activates Risks are related to hazards; if there’s a wet floor it should be cleared up straight away and put a wet sign on top of it‚ to prevent someone from slipping over and injuring themselves badly. Identifying risks There are many types risks of hazards in every day life‚ all around us every where. Theses always some risks that are more likely to happen and some less likely. However‚ once you notice
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E9-1 (Lower-of-Cost-or-Market) The inventory of Oheto Company on December 31‚ 2011‚ consists of the following items. Cost Cost to Total Total Lower Cost Part No. Qty Unit Replace Cost Replace or Replace 110 600 $95 $ 100 $ 57‚000 $ 60‚000 $ 57‚000 111 1‚000 60 52 60‚000 52‚000 52‚000 112 500 80 76 40‚000 38‚000 38‚000 113 200 170 180
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Q1. Tamira could have taken several other courses of action besides the choice she made to estimate the expense accruals and keeping this information from the President. Firstly‚ she could have told the President that there was not enough time before the meeting with the bank to prepare accurate financial statements that could be relied upon by the bank in making its financing decision regarding Picton. She also could have inserted footnotes with each adjusting entry that she estimated‚ so both the
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Coordinate Algebra Name: _____________________ 4.2.3 Residuals Date: _____________________ Introduction The fit of a linear function to a set of data can be assessed by analyzing__________________. A residual is the vertical distance between an observed data value and an estimated data value on a line of best fit. Representing residuals on a___________________________ provides a visual representation of the residuals for a set of data. A residual plot contains the points:
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Background Rossi Inc. is a diversified manufacturer of industrial products. In 2008‚ Rossi updated its asbestos litigation liability‚ including the costs of settlement payments and defense costs relating to currently pending claims and future claims projected to be filed against the Company through 2017 for losses incurred to date. Before 2008‚ the Company’s previous estimate was for claims projected to be filed through 2011. As part of the 2008 update to the asbestos litigation liability‚ Rossi
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