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Consider the earnings process applying to a travel agent and an airline company and then defend the criteria for recognizing revenue in each of the two cases. A travel agent helps a customer purchase an airline ticket and recognizes revenue for its commission at the point the customer purchases the ticket. Some argue that revenue recognition is appropriate because the earnings process of the travel agent-helping the customer make travel plans and arrangements-is largely completed once the customer purchases the ticket. What do you think? In contrast, an airline that provides the same upfront service with its own in-house sales force cannot recognize revenue for these services because the airline's earnings process is incomplete until the flight itself is provided. Required: After reading the textbook chapter for this week (Schroeder, R.G., Clark, M.W, & Cathey, J.M. (2013) Financial accounting theory and analysis: Text and cases (11th ed.). New York, NY: Wiley. ISBN-13: 9781118582794 - Chapter 5) on income concepts, discuss the factors to be considered in determining when revenue should be recognized in measuring the income of a business enterprise. Discuss the reasons why you believe that revenue recognition is treated differently under these two different scenarios with in the airline industry. Your well-written paper must be 2-3 pages, in addition to title and reference pages. The paper should be formatted according to APA Requirements. CITE at least TWO PEER-REVIEWED sources.
The demand for the product in the local market may reach to a saturation level within 5 years of time, what are the plans before you, as a manager of the company, to implement in order to extend the life of the company.
Management expects to sell 95,000 units of a product during the next fiscal period. How many units must be produced if the beginning inventory of finished goods amount to 5,000 units and management desires the ending finished goods inventory to eq..
the following information is available for captain spa a manufacturer of above-ground spa
Prepare a schedule to show the impact of filling the Pacific order on Mission's profits for the year and would you recommend that Mission accept the order and what is the minimum quantity of DVD players in the special order that would make it profita..
Cash Conversion Cycle. Calculate the accounts receivable period, accounts payable period, inventory period, and cash conversion cycle for the following firm.
consider the following data for the two geographical divisions of the potomac electric company that operate as profit
Zero-base budgeting requires the periodic review of all programs
Calculate the average total cost per unit for the 16,000 units manufactured in May. Explain why this figure would not be useful to a manager interested in predicting the cost of producing 19,200 units in June.
Identify a suitable ERP systems for a state University. What are the primary modules and functions of each.
complete the requirements for each of the following independent cases case a. dr pepper snapple group inc. is a leading
Brigham is single, in the 33% marginal income tax braket, and has the sales or exchanges below. At the beginning of the year, he has nonrecaptured net Sec.1231 losses of $10,000. Determine the increase or decrease in Brigham's tax liability as a r..
for franklin inc. sales is 2000000 fixed expenses are 600000 and the contribution margin ratio is 36. what are the
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