A Report On Tiger Corporation

This Comprehensive Problem is to acquaint you with the content of the 2012 financial statements

$175,000 in Equipment was purchased on credit ($100 was due on delivery and was paid in cash).

* Full revenue recognition method would recognize total revenue and total cost at the date of sale. Adjustments will be recognized when the warranty is used in the contract period, giving by the FASB’s Statement of Financial Accounting Concept No. 5, “Recognition and Measurement in Financial Statements of Business Enterprises”. When revenue is recognized and at the end of initial

Revenues are recognized at the POS, when a fixed sales price is established, and collection is probable. For most product sales, these criteria are met when a product is shipped. Online sales are deferred until the customer receives their product, and the transfer of liability is completed.

In accounting there is much to be learned, about the financial aspects of a business. In the past five weeks I have learned the importance of financial reports and how they relate to the success of an establishment. These reports may include balance sheets and income statements, which help accountants and the public grasp the overall financial condition of a company. The information in these reports is really significant to, managers, owners, employees, and investors. Managers of a business can take and deduce financial

The cost associated with the physical transfer of goods is an essential piece of information in the negotiation of an international trade transaction. To maintain a product’s competitiveness, the seller must make sure that his cost is as low as possible. However, in any particular supply chain, this cost is made up of a number of cost elements corresponding to services that enable physical linkages between supply chain members. These elements cannot always be clearly quantified beforehand.

Answer 1- The first question which shows the two new options how impact transfer and customer might freight cost and the answer for this question is given in first alternative and second alternative which is elaborated above.

2. Any of their sales transactions to vendors for their products, especially sales requiring timely delivery.

The lumber was ordered, purchased and received on December 31. It is being held for a future sale as of the year end date. The terms of purchase are FOB destination.

The case stated that the purchases were forecast to be $2.7 million. Since level production would require equal purchases for each month, we divided total purchased by 12 months to determine the monthly accounts payable. Next, we added the accounts payable, notes payable, interest payable, accrued taxes, long-term debt, and shareholder's equity. This summation gives us the total liabilities and equity.

Financial reporting in the recent years through the SEC mandates has become one of the most important aspects to corporate management. Stamford International's problem is inherent in the discrepancy in reporting system and accounting irregularities from the various aspects of the business. Not only has this but Stamford, due to rapid growth not been able to accommodate for the expansionary activities like acquisitions of units and international transactions. The result has been the experience of loss in earnings-per-share. In the following analysis, the researcher thus will outline some of the problems that Stamford should address and resolve accordingly to be able to post a positive quarterly report and remain compliant with the

Tiger Direct is an online retailer of electronics and tech gear. They carry everything from computers to surveillance systems. Their coupons have been for a percentage of up to 35% off, or a dollar amount of $125. For the latest coupons from Tiger direct, be sure to make MomDeals your source.

Based on the information outlined above, the revenue recognition accounting would follow that for Multiple-Element Arrangements as outlined in ASC 605-25. The accounting units of system and PCS will be accounting for separately, because the criteria of ASC 605-25-5-a are met: “The delivered item or items have value to the customer on a standalone basis. The item or items have value on a standalone basis if any vendor sells them separately or the customer could resell the delivered item(s) on a standalone basis. In the context of a customer's ability to resell the delivered item(s), this criterion does not require the existence of an observable market for the deliverable(s).” As outlined in the case, both the customer support system and the post-contract customer support have standalone relative selling prices of $12,000 and $2,000, and could be purchased separately. Therefore, it is appropriate to use Vendor-Specific Objective Evidence to determine the amount of revenue to recognize for the system ASC 605-25-30 and the breakout for PCS, but PCS will also be subject to nonrefundable up-front fee stipulations for revenue recognition. According to ASC 605-10-S99 SEC Materials and the SEC’s codification of Staff

Review of Financial Research Report: This assignment is an analysis of a US publicly-traded company; its common stock could be a prospective investment.  The report is due in Week 10, in needs to be at least 5 pages, and it needs to cover the following topics:

SAB 104 lays down the following conditions that should all be fulfilled to enable revenue recognition in cases on non-delivery of goods: (1) The risks of ownership need to have been transferred to the purchasers, (2) The customers have made commitments, preferably written, to procure the goods, (3) The purchasers call for the ‘bill and hold’ transactions, (4) The buyers should be