The Financial Statement Representation of a Transaction

WestJet made few big investments with cash money to buy one Aircraft and other property and equipment and intangible assets. In 2012, WestJet invested more cash to reinvest in the business rather than keeping in hand than 2011. In 2011 the total money spent for reinvestment was $118,373 and in 2012 it was $269,307 which is more than table compared to 2011. Seeing this investment, it can be said the company got more aggressive in investment compared to 2011.

Revenue income is income generated by sales of goods or service done by a business for instance sale of goods to customers, rent received from debtors, commission received etc. Revenue income is money that comes into the business from performing its day by day

Revenues are the monies that are brought in as a result of the business’ core functions in their respective industry. Revenues are different from gains in that revenues can be accounted for, while still taking a loss in the overall profitability. If an item were to be sold below cost, it brings revenue (selling price), but was sold at a loss.

Arrowmark Vending has the contract to supply pizza at football games for a university. The operations

This paper provides a summary of our analysis of the data obtained for 60 Crusty Dough Pizza Company restaurants. We compared 16 pizza store characteristics to monthly profit in order to determine the best indicators of success. The results of this analysis may be used to determine the store services and attributes that have the most bearing on profitably.

The source of revenue comes from net income, which comes from a sale of goods or services in

Being earned. Paragraph 83(b) of FASB Concepts Statement No. 5, Recognition and Measurement in Financial Statements of Business Enterprises, states that revenue is

Reports revenues and expenses for a specific period of time. A firm's revenues, gains, expenses and losses are listed on the income statement. Revenue is money earned from a company’s

Background. Revenue is a financial statement item. Accounting for revenue contains standards and principles for revenue recognition. Revenue recognition rules and statutory requirements significantly evolved over the years. It became more detailed for the purpose so financial statement users can understand true company performance and projections.

Consistency. When the company chooses the accounting method, it should continue using it throughout. It should be the same from period to period and year to year. If the company chooses to change the method, it should be disclosed and explained why the company made such a change. This concept can also be described as logical coherence among parts or things, when the same sequence is followed from one period to another.

-at 24% user penetration the option A (pizza kit plus toppings) would allow a margin of $12,570 millions while the option B (pizza only) let a total factory sales amount of $35,137 well below the $45,000 millions basic business requirements.

Revenue from the provision of goods and all services is only recognized when the amounts to be recognized are fixed or determinable, and collectability is reasonably assured (Elliot B., Elliot J., 2007)

WestJet faced problems in transferring files containing data on transactions for customers who had already purchased their tickets before the system upgrade. They could not access the passenger bookings and this caused delays because it took time to transfer the files. Another problem they faced was angry customers who flooded their site and

Financial statements have several key components and specific criteria into them to relay the detailed information for auditors and management. A deeper look into financial statements and the many concepts surrounding them are needed to explain in more detail. It’s also important to recognize the Auditor’s opinion letter, balance sheet, operating statement, statement of changes in net assets, and statement of cash flows and footnotes of their involvement in the process. Relevant accounting articles are a useful supplement to financial statements and how they enhance concepts in the financial statement. The meaningful uses of financial statements for health care organizations are the epitome of current and future success of financial health.

Accounting is the art of measuring and communicating financial information. To maintain uniformity and consistency in preparing and maintaining books of accounts, certain rules or principles have been evolved. These rules or principles are classified as concepts and conventions. One of the important concept in accounting is “Measurement” (Mattessich, 1977)