10 Minutes on Future of Rev Rec

In: Business and Management

Submitted By shankhin
Words 2919
Pages 12
The far-reaching implications of a new revenue model
Highlights Management should evaluate existing business practices under the new model, including how product or service offerings are bundled and priced, and begin assessing the need to negotiate revised contract terms. Industry-specific accounting guidance will be eliminated under the new model and “industry practice” will need to be re-evaluated. Estimates that are required to apply the new model will often require the use of greater judgment and may necessitate process or system changes. Companies should begin assessing the impact of the changes and the adequacy of their resources, systems, and processes to address the new requirements.

on the future of revenue recognition
Revenue, or the “top line,” is one of the most closely-monitored measures in financial statements. However, the accounting rules for revenue can be difficult to decipher. US revenue guidance today is a tangled web of special rules and exceptions created to address unique transactions, industries, and business models. The FASB and IASB are in the process of replacing this labyrinth of revenue guidance with a new global accounting standard that will apply a single set of principles to all revenue transactions, regardless of industry. Their proposed standard, issued in June 2010, received extensive feedback, which the boards have discussed at length during the first half of 2011. Now that they’ve completed their initial redeliberations and decided to re-expose their revenue proposal, it’s time to take stock of the effects. Understanding the impact now will inform your response to the revised proposal and limit surprises down the road. This 10Minutes provides a preview of the proposed changes and their implications. We expect the FASB and IASB to issue a revised exposure draft in August or September 2011 and a final standard in the September…...

Similar Documents

Minutes

...Minutes of the meeting of the “Kruidvat project” [pic] [pic] Lecturer: Mrs van Dijk Name: Elice Studentnumber: 2777777 Date: 30 september 2009 Course name: English 3 Class: DCE2VA Group: Kjell van Zon, Melissa Pol, Jordy Boekema Table of Contents 1. Introduction page 2 2. Assignment: ‘Minutes of the meeting of the Kruidvat project’ page 3 3. References page 4,5 4. Appendices page 6 Personal work statement page 6 1. Introduction This assignment is made to improve my English and to talk about the current project that has started this quarter. Every Wednesday we come together to have meetings about the Kruidvat project. In groups we discuss how a beauty and health shop can be realised. Kjell van Zon, (Jordy Boekema) and Melissa Pol are the members of my group. Each person must be the chair and the minute taker once to make this assignment. The Kruidvat project contains four questions that have to be answered, after the meetings everyone comes to an agreement .The minute taker sends the members his or her notes to agree with what is said. If there are any changes or additions the member will inform every member by mail or in the next meeting. After the meeting it is clear to everyone what has to be done. In week 2.8 the business case of Kruidvat must be handed in. ......

Words: 957 - Pages: 4

Minutes of the Meeting

... MINUTES OF THE MEETING RE : NSA Instructor's meeting w/ Atty Go. Date : June 10, 2013 Time : 2:30 pm Venue : Amphitheater (Attendance attached) Discussion: >Atty Go : – Atty Go. was not happy with the result of the last MSAP Result. He is requesting everybody to give full support & cooperation to make it to the top again. – To reproduce Msap questioners and distribute it to students. – To impose Saturday enhancement review not only NSA cadets but also regular students. – Do not be hesitant to fail student as long as it is reasonable and can show proof that he fails (grading system). Most importantly the NSA students because it requires higher standards. > DR. Son : - It is our responsibility to discipline our students. Do it in your respective classes. – Those handling 1st year subjects should give more activities , assignments, CBT works, library works . – Should require textbooks and to bring them during classes. – Should have re orientation of 2nd year and 4th year cadets as well as the faculty re: Demilitarization , flag ceremony. – Should have re orientation & to invite Mr. Ely Abella re: Grading system. – Instructors to minimize late & tardiness. Should report to class on time. The following concerns were also discussed: – OIC Catalan stressed out that he was given Marcom subject this......

Words: 279 - Pages: 2

Rev Question

...centralized approach involves collating the users’ requirements for different user views into a single list of requirements. A data model representing all the user views is created during the database design stage. The view integration approach involves leaving the users’ requirements for each user view as separate lists of requirements. Data models representing each user view are created and then merged at a later stage of database design. Database design is the process of creating a design that will support the company’s mission statement and mission objectives for the required database. This stage includes the logical and physical design of the database. The aim of DBMS selection is to select a system that meets the current and future requirements of the company, balanced against costs that include the purchase of the DBMS product and any additional software/hardware, and the costs associated with changeover and training. Application design involves designing the user interface and the application programs that use and process the database. This stage involves two main activities: transaction design and user interface design. Prototyping involves building a working model of the database system, which allows the designers or users to visualize and evaluate the system. Implementation is the physical realization of the database and application designs. Data conversion and loading involves transferring any existing data into the new database and converting......

Words: 20349 - Pages: 82

Minutes of Meeting

...MINUTES OF MEETING FOR THE ELECTION OF OFFICERS SEPTEMBER 16, 2013 8:22PM DRBCS—BSU-ESC ROOM 25 A. PRELIMINARIES 1. INVOCATION: Ms. Rischell Mae C. Caturan 2. CHECKING OF ATTENDANCE • PRESENT: ALL BEE-4A STUDENTS DR. SUSAN T. APAREJO, Ph.D., ADVISER • ABSENT: NONE MEETING CALLED TO ORDER AT 8:25 pm by DR. SUSAN T. APAREJO, Ph.D, appointing Mr. Jovanne Bagares as acting president. B. NEW BUSINESS • AGENDUM Election of officers for the subject English for Specific Purposes: Mr. Bagares was appointed by Dr. Aparejo to act as the presiding officer. He opened the table for the nomination of the president position. Mr. Opiso nominated Mr. Bagares; Ms. Mabilin was nominated by Ms. Amoncio, Ms. Alpuerto by Ms. Alforque and Mr. Acido by Ms. Alpuerto. Nomination was closed by Ms. Mabilin and seconded by Ms. Montojo. Ms. Quinnie Alpuerto with eleven (11) votes became the President and the second highest vote with ten (10) votes was Ms. Rozel Mabilin, automatically as the Vice President suggested by Dr. Aparejo and the majority agreed. Ms. Alpuerto was elected earlier as President, opened the nomination for the secretary position. Ms. Baguio was nominated by Ms. Datoon, Ms. Datoon was Ms. Lerio and Ms, Alforque by Mr. Tolentino. Mr. Acido closed the nomination and seconded by Ms. Dotarot. Ms. Jo-an A. Baguio with twenty-three (23) votes elected as the Secretary. The treasurer position nominees were Ms. Amoncio, Ms. Loreto and were closed by Mr. Acido but Ms...

Words: 469 - Pages: 2

Rev Rec Case

...psychic advice to the customer. The arrangement between Company M and Company P calls for Company M to bill the customer $5.00 per minute spent using the “1-900” number. This per minute charge was set by Company P. The charge on the consumer’s bill notes the source as “Company P.” Company M is responsible for remitting $4.00 per minute to Company P. If a customer does not pay the $5.00 per minute, Company P must separately pay Company M $1.00 per minute for that customer’s usage of the “1-900” number. All marketing for the psychic services is performed and paid for by Company P. Company M is not mentioned in Company P’s marketing campaign. When the customer calls the “1-900” number, the psychic that answers identifies himself or herself as “a psychic with Company P.” Questions 1. Company M is preparing its annual financial statements for the year ending December 31, 20X1. It is not sure how to classify in its income statement the amounts: (a) billed to the customer for their time spent using the “1-900” number and (b) remitted to Company P. Which section(s) of the FASB Accounting Standards Codification should Company M refer to for guidance? 2. How should Company M classify in its income statement: (a) the $5.00 per minute billed to customers for using the “1-900” number and (b) the $4.00 per minute remitted to Company P for each minute customers use the “1-900” number? Explain the literature that enters into this assessment as well as the key facts considered......

Words: 4489 - Pages: 18

One Minute Manager

...pasdfghjklzxcvbnm ONE MINUTE MANAGER | 1. What are three steps of the one minute manager? Explain what each step means to you. The three steps of a one minute manager are: One minute goal to me means simply to define your goal and fully understand what needs to be done, know what possible problems can arise to stop achievements and come up with solutions beforehand. One minute Praising- it’s most naturally that one needs to be recognized for the good work that he/she has done. So when a boss comes and praise their employee most naturally they will want to continue making the right decisions. It’s true that an employer should not wait a whole entire year to praise his employees but can do it right there and then in just one minute and it will be appreciated. One minute reprimand- if an employee knows what needs to be done and has screwed up, they don’t need their boss to point out what they did wrong as they know right away. However I think that it is something good that the boss address the problem right away and make it effective. Sometimes one needs someone to point out when they are wrong so they don’t slip up again.   2. Why did the one minute manager not have a high employee turnover? They didn’t have a high employee turnover as the employees were satisfied and they were right where they wanted to be. The one minute manager was not only a manager but also a trainer.   3. Why did Ms. Gomez call the one minute manager the best trainer......

Words: 1437 - Pages: 6

Minutes Meeting

...CSP HOLDING BHD 9426-T MINUTES OF BOARD OF DIRECTORS’ MEETING Minutes of the CSP Holding Bhd meeting held at Bilik Seminar Bunga Raya, Level 10, Office Tower, No.3,Jalan Nagasari (Off Jalan Raja Chulan), 50200 Kuala Lumpur on Monday, 5th May 2014 at 9.00 a.m. Present : Y. Bhg. Tan Sri Wahid Jalil (Chairman) Y. Bhg. Dato’ Zahir Ahmad (Managing Director) Mr. Yeoh Wai Siaw (Non-independent Executive Director) Y. Bhg. Tan Sri Dato’ William Lim (Independent Non-Executive Director) Y. Bhg. Dato’ Hardi Yusof (Independent Non-Executive Director) Mr Heah Sieu Low (Independent Non-Executive Director) Dato Aisyah Syed (General Manager of CSP Fasteners’) Mr Azim Rahmat (General Manager of Maya CSP Sdn Bhd) Wong Kar Chun (Auditor) Ms Loh Ai Lin (Secretary) Apologies : Mr George Siong Chee Sook (Independent Non-Executive Director) CHAIRMAN FOR THE MEETING Tan Sri Wahid Jalil took his place and declares the meeting duly convened once the requisite quorum was present. DIRECTORS REPORT, AUDIT REPORT AND CONSIDERATION OF ANNUAL REPORT That the Audited report of the Company for the year ended 31 December 2013 together with the Reports of the Directors and Auditors thereon be hereby received and noted. DECLERATION OF DIVIDEND That there is no final dividend for year 2013 as recommended by the director is hereby approved. ELECTION OF DIRECTORS IN PLACE OF THOSE RETIRING It was......

Words: 426 - Pages: 2

The Rev. Canon

...responds obediently to God’s word is a responds of faith and trust. To his end, to hear God’s word is to obey God’s word. (Ex.19:5, Jr. 7:23, Act. 5:21, Phm 21, e.t.c). Faith: It simply means trust or dependence on someone (God), or something. From Heb. 11:1, “Now faith is the substance of things hoped for, the evidence of things not seen.” Trust: is define as faith you have on someone or something Wine: is a symbol of merriment in the Jewish culture (Joel 2:19). In the New Testament, wine was used as medicine and disinfectant. Scripture condemns drunkenness and overindulgence but pictured wine as part of typical ancient meal. Some of the biblical scholars see wine in John chapter two as a symbol, which has a deeper meaning. According to Rev. Elder Dr. Okechukwu Kalu, wine as used in John chapter two refers to “a new teaching which came after the Jewish leaders have taught the people the old teaching.” From this, it is clear that this place did not teach us to be drinking wine instead; we should embrace the new teaching brought to us by Jesus. (John 13:34-35). Mary Command to the Disciple: Mary’s command to the servants at Cana — "Do whatever he tells you" (Jn. 2:5) — represents her last recorded words in the Bible. Moreover, they serve as much more than an exhortation to obedience. | Other parallel of Mary’s Command in the Scriptures At Mount Sinai: First, Mary’s words recall the typical response for covenant obedience in the Old Testament. For example, the theme......

Words: 2535 - Pages: 11

Cis 106 Wk 10 Term Paper - the Future of It

...CIS 106 WK 10 Term Paper - The Future of IT To Purchase Click Link Below: http://strtutorials.com/CIS-106-WK-10-Term-Paper-The-Future-of-IT-CIS1062.htm CIS 106 WK 10 Term Paper - The Future of IT You are the new chief information officer for ACME Widgets. The president of the company recently asked you what you think the future of information technology will be. After a lengthy discussion, he further challenged you to write a position paper that will help direct the company’s allocation of resources based on your understanding of the future and potential paradigm shifts. Write a five to eight (5-8) page paper in which you: 1. Identify and describe a future information technology that you believe will create a paradigm shift. 2. Identify and describe the domain in which the shift will occur. 3. Explain the technology, how it works, and how it is different from what we have today. 4. Give at least five (5) reasons why the technology will create a shift. 5. Use at least three (3) quality resources in this assignment. Note:Wikipedia and similar Websites do not qualify as quality resources. Your assignment must follow these formatting requirements: • Be typed, double-spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. • Include a cover page containing......

Words: 279 - Pages: 2

Cis 106 Wk 10 Term Paper - the Future of It

...CIS 106 WK 10 Term Paper - The Future of IT To Purchase Click Link Below: http://strtutorials.com/CIS-106-WK-10-Term-Paper-The-Future-of-IT-CIS1062.htm CIS 106 WK 10 Term Paper - The Future of IT You are the new chief information officer for ACME Widgets. The president of the company recently asked you what you think the future of information technology will be. After a lengthy discussion, he further challenged you to write a position paper that will help direct the company’s allocation of resources based on your understanding of the future and potential paradigm shifts. Write a five to eight (5-8) page paper in which you: 1. Identify and describe a future information technology that you believe will create a paradigm shift. 2. Identify and describe the domain in which the shift will occur. 3. Explain the technology, how it works, and how it is different from what we have today. 4. Give at least five (5) reasons why the technology will create a shift. 5. Use at least three (3) quality resources in this assignment. Note:Wikipedia and similar Websites do not qualify as quality resources. Your assignment must follow these formatting requirements: • Be typed, double-spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. • Include a cover page containing......

Words: 279 - Pages: 2

10-Minute Conversation Paper

...* * * * * * * * * * * * * 10-Minute Conversation paper * Willie Ramon Yarbrough * COM/100: Introduction to Communications * 24-30 March 2015 * * * * * * * * * * * * * * 10-Minute Conversation paper * The 10 minutes conversation with my fiancee about our wedding on July 18. We had need discuss a lot of things like the number of invitations that needed to be mailed and the number of them that we could drop off. And what type of beer and alcohol we would have to get. About if all of her parents would be excorted in or they would just walk in or not. After all the back and forward discussion we put together a beautiful wedding. * * During the conversation, I noticed that my fiancee was using a lot of facial expression and body gestures like folding her arms and shaking her head when she did not agree with my ideas. The tone of the converstaion was very at easy, laid back, and exciting. We both was smiling and laughing, while we were going over the wedding. * The slang words that was used through out the 10 minutes; BAE meaning "before anyone else", SHADE meaning to subtly insulting someone, TURNT another way of saying that you are in full party mood, SLAY a person who is looking or doing something that is amazing, she used the word "fleek" that means something that looks perfect,......

Words: 646 - Pages: 3

Future Statement

...Future Statement Arcacia Godfrey 2/10/15 Ms.Phillip Imagine that the world had more energy. What if you could always wake-up refreshed? Imagine 15 years from now, on every street corner in America and around the world their where “Dream Stations”. A place where you could go in like your local coffee shop or internet café, step into a selected booth and capture a full 8 hours of rest in a matter of 15-20 min!!! Imagine a world filled with energetic and productive people, who only make for a better, more rested society. Enter your “Dream Station” and Rev-Up!! The booth would have a walk up space and an area for your head, to put on a specially designed helmet that puts you to sleep in an instant. The signals and frequency’s coming from the helmet, would send signals to the respected part of the brain for sleep and energy. It would bring you to a trance like state, to give you what feels like a full night’s sleep! It would also go to another phase, where a few minutes before your time is finished, it would go to an energy reboot stage, where it enhances your alertness, thinking, and awareness before you disconnect from your headset. This would be the most revolutionary thing that our society has seen. This could actually make for a better society. Imagine the productivity that would be accomplished if people could stop to rest literally! Our society would run smoother, and more efficiently. No more grumpiness because of tiredness or lack of sleep and energy. This would......

Words: 374 - Pages: 2

Rec Thrpy Take Home

...Rec thrpy RT 3700 Final 1. The manager’s ability to handle the areas that influence the work environment become critical to the department once things like money and other incentives become less available. Managers are suppose to create an environment that maximizes the development of each staff members potential. Work opportunities should be created where individual employees can meet their individual needs while meeting goals of the organization. To motivate effectively, a manager must be in tune to each practitioner’s personal needs and interchange between the work environment and employee needs and abilities. 2. Some elements hat may contribute to burnout are complexity, structure, administrative processes, and interpersonal relationships. A manager can create an environment that would help minimize these factors by setting realistic goals, prioritizing work, balancing undesirable with preferred tasks, recognizing achievement of personal and departmental goals, and to create supportive networks. 3. Even though a manager can never be sure a system is legally defensible, there are several steps that can help ensure nondiscrimination. Some legal factors that a manager might consider when designing a personnel appraisal system are that the contents of appraisal should be in writing. It should be at least one per year and should be based on the job analysis. Standards, results, an appeal process, and anti- discrimination laws should be communicated...

Words: 1274 - Pages: 6

Minutes

...MINUTES ON D94 TEAM MEETING HELD ON 21ST APRIL, 2008 AT ATICO BRANCH – BARCLAYS BANK ATTENDANTS • RM • RS • DSAs OPENING The meeting began exactly at 8:45am with a prayer by DSA Dovi. It was presided over by the team manager, Mr. Eric L. Amoafu. In his opening remarks, he welcomed all members present and admonished them to be open and forthcoming with contributions and suggestions concerning issues to be discussed. AGENDA Mr. Amoafu, read out the items on the agenda which were as follows; 1. Review of DSAs Performance in the month of April 2. Barclay Loan 3. Fixed Deposit 4. A.O.B 1. Review of DSA Performance in the month of April Mr. Amoafu took the DSAs through the performance chart which displayed the Barclay loans and Scheme loans submitted by each DSA on the team and their corresponding values. On the overall, he described the total performance as highly unacceptable especially when compared to the figures recorded in the previous month. He reminded the DSAs that, the month of April marks the end of their three-months probation period and that extension of employment would be dependant upon the results/figures submitted by each DSA over the period. DSAs REACTIONS: Majority of the DSAs complaint of incessant phone calls and verbal abuse from scheme loan applicants particularly loan applicants from the Ghana Police Service because their cheques seem to be long overdue, even when approved. As a result, other potential loan applicants......

Words: 615 - Pages: 3

Minutes of Meeting

...Minutes of 2 nd Excellent Sports Club Meeting Venue : CRC Social Club Date : 25th January 2012 Time : 7:30 pm Attendance : Present: Hidhir ( President) Tan Ling Ching (Vice President) Rajeswari (Secretary) Heu Wai Yee (Treasurer) Lee Seo Lin (Members of the Committee) Nurul Amiliani (Members of the Committee) Rahul Rozali (Members of the Committee) Absent with apologies: Ling Chin Chuan (sick) 1. Agenda Item 1: Confirmation of minutes of previous meeting The president welcomed members to the meeting. The minutes of the previous member’s selection meeting was read out by Secretary. These were issued at the meeting and were accepted as a true record. The meeting was held to organise the annual activities for the club and raised funds for the competition and cost for the facilities of the club. The President asked for the minutes to be passed. Proposal for minutes to be passed to Ong Ben Kiat and Lee Hooi Sun. 2. Agenda Item 2 : Proposed Programmes for the year 2.1 Badminton Tournaments The details of the tournaments were proposed by Mohd. Haikal and next by Surihana Zainol. This competition will be held on 13th February 2012 in SMK St. Anthony’s hall. The objectives of the competition are to encourage more members involved in the sports competition and to enhance their interest in badminton. This competition will be divided into 3 categories, that is, single, double and mixed double. The committee members who are in charge of this......

Words: 757 - Pages: 4

Unduh APK | Zootopia (2016) 720p BRRip HEVC 700MB | Ichiban Ushiro no Daimaou