What are two alternatives that could have been used

Reference no: EM133500687

Problem: Customer Consideration Model for Revenue Recognition

Question I. Distinguish between accounting treatment of contingent liabilities based on the probability of these situations resulting in an actual monetary

Question II. In the case, Accounting for a Loss Contingency, what were three possible alternative courses of action? Explain.

Question III. What was the best solution to the Accounting for Loss Contingency Case?

Question IV. In the Refer-a-Friend Program case, what are two alternatives that could have been used to account for the referral fees that customers might receive?

Question V. In the Refer-a-Friend Program case, there is a question about how to record a $25 referral fee that the company plans to give customers. How should the company account for referral fees? Please explain.

Question VI. Explain the difference between the static view of accounting theory and the dynamic view.

Question VII. Explain revenue recognition concepts under current U.S. GAAP rules.

Question VIII. Explain the customer consideration model for revenue recognition that has been developed by the IASB and the FASB.

Question IX. Explain the how to do the operating section of the cash flow statement when the indirect method is used.ease explain the direct method for preparing the operating section of the Cash Flow Statement.

Reference no: EM133500687

Questions Cloud

Describe factors in organizations external environment : BUS 475- Describe two critical factors in the organization's external environment that can affect its success. Support your assertions.

What impact did the experience have on your everyday life : What impact did the experience have on your everyday life? What did you learn that was directly related to your course objectives?

What are wipros strengths and weaknesses today : MKM 707- What are WIPRO's strengths and weaknesses today (2006)? What are the key decisions that Paul is grappling with in 2006?

Preparing and managing correspondence : Preparing and Managing Correspondence - Students may use GCSS-A, FMSWeb, NETUSR, AESIP, and other applicable resources to complete paper

What are two alternatives that could have been used : In the Refer-a-Friend Program case, what are two alternatives that could have been used to account for the referral fees that customers might receive?

How organizational vision and strategies have influenced : Background and Context: Discuss type of industry, products/services, and how organizational vision and strategies have influenced their management.

Prepare a risk workshop agenda : Prepare a risk workshop agenda based on the Sample Agenda for a First Risk Assessment/Two-Day Risk Workshop

Explain the importance of hpt to organizations : Define high-performance teams. Explain the importance of HPT to organizations. Explain how to build HPTs. Include ethical considerations.

What stocks expected return variance and standard deviation : FIN 301- A stock had the following annual returns: 8%, 15%, 12%, and 5%. What is the stock's expected return, variance, and standard deviation?

User Account

All Pages