Essays on Revenue Recognition

Revenue Recognition Fraud: Methods and Reason
Words • 1160
Pages • 5
In today’s corporate arena, fraud has taken its seat among the top priorities of those who make policies and set standards. The majority of large-scale fraud is perpetrated by the improper recognition of company revenues and is, in practice, generally simple. Revenue recognition fraud can be carried out by keeping the books open past the end of the accounting period, recording consignment goods as sales, improper bill-and-hold transactions, failure to record offsetting accruals, and many other methods that boost earnings.…...
AccountingAccounting EthicsAuditEconomyEthicsFinance
Asc 605-20
Words • 923
Pages • 4
Case 06-12 Outsourcing Services, Inc. Outsourcing Services, Inc. (OSI), a SEC registrant, provides a variety of EDP and payroll processing services to third parties. OSI recently has introduced a new service line to provide product help-line support services through customer service representatives (CSRs) who are employees of OSI. On January 1, 2004, OSI entered into a service contract with Company X. Pursuant to the terms of the contract, OSI’s CSRs will provide technical support for Company X’s products. The contract…...
ContractEconomyOutsourcingRevenue RecognitionTraining
Fasb Codification
Words • 3798
Pages • 16
1. The inventory at your company consists of computer software that the company has developed and is selling. You capitalized (rather than expensed) the cost of duplicating the software, the instruction manuals, and training material that are sold with the software. 985 Software: 330 Inventory: 25 Recognition 25-1 The costs incurred for duplicating the computer software, documentation, and training materials from the product masters and for physically packaging the product for distribution shall be capitalized as inventory on a unit-specific…...
EconomyFinanceInsuranceRevenue RecognitionSales
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Learn to Play the Earnings Game
Words • 3560
Pages • 15
The following example essay on "Learn to Play the Earnings Game" talks about how a trader, ignore the short-term kabuki that the companies and the analysts perform for each other, but educate yourself about the accounting games that companies play. The pressure to report smooth, ever higher earnings has never been fiercer. You don't want to miss the consensus estimate by a penny--and you don't have to. By Justin Fox In January, for the 41st time in the 42 quarters…...
Corporate FinanceEconomyFinanceFinancial StatementFranchisingMoney
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