Income statement

1. Identify accounting rules of revenue recognition and describe the inadequacies in accounting context of using bill-and-hold to recognize revenue at Halliburton. According to the accounting principle revenue recognition, it is the function when revenue is reported and recognized when a function has occurred. Under GAAP, revenue recognition should recognize a measurable amount of revenue once a certain transaction has been fully made. That would be the case, when certain types of goods or…

I manage, supervise, and develop procurement for approximately 60+ assets (part numbers) including 8 fracture critical which consist of 1500+ individual parts for the F110 Engine Requirements. I determine acquisition actions to initiate, amend or cancel procurement, execute repair or dispose of excess. Determine & evaluate F110 Engine requirements through Asset Reconciliations, Factor printouts, FMS Supportability Analysis, Buy/Repair Analysis and MICAP/Backorder Analysis to forecast strategic…

As been told earlier, BSC basically focus on the four perspectives which are financial, customer, internal business processes and learning and growth. As to the evidence on which industries does well by implementing BSC, there will be a comparison between SMEs industry and banking industry. A company of SMEs industry has implemented BSC to measure its business performance based on the 4 perspective which are financial, customer, learning and growth and internal business processes. Firstly…

sector for establishing standards. These standards are important to be useful because it allows investors to make informed decisions. Financial information must be reliable, consistent and transparent. Transparency refers to high-quality financial statements that are clear and easy to understand. Being transparent in financial reporting allows investors, creditors and the market to properly evaluate business entity. Being transparent also increases confidence in the fairness of the market.…

Atlanta, Georgia (Neel, 2012). Cox Communications is one of several companies that offer Connect2Compete to low-income families across the U.S. This program offers low-income families the opportunity to provide internet services to their school aged children that are receiving some sort of assistance from Social Services in their area, as well as to family’s that have annual incomes lower than $35,000. This program also offers computers starting at $150.00, and affordable computer training…

How to provide disclosure in the Financial Statements The united money related articulations incorporate the records of Wal-Mart Stores, Inc. what's more, its auxiliaries. Noteworthy intercompany exchanges have been killed in combination. Interests in which Wal-Mart has a 40% to 60% voting hobby and which Management control are represented utilizing the value technique. The administration at Wal-Mart has created and keeps up an arrangement of inner and revelation controls, including a broad…

If a company is a governmental entity, the reporting method changes dramatically. The purpose of a government entity is to provide financial statements to taxpayers, citizens, elected representatives, bondholders, and financial community. Most of government entity revenues comes from taxpayers, donations, and public service. Compared to a for-profit company, the revenues is generated by sales, services, and investments. The GASB is responsible for setting standards for governmental entity and…

payment will not be included in the gross income of the person for the purpose of taxation. From the perspective of taxation any contribution made to a qualified tuition program shall be treated as a completed gift. When a distribution is made under a qualified tuition program, it shall be includible in the gross income of the distribute. For example, if money is paid from a program to an educational institution, it has to be reported in the gross income institution. If a person has an interest…

lasts six months or more. The trough is the lowest point of a recession. In this phase, employment and output are at their lowest level. After hitting the trough, an economy will bounce back. This is called the expansion phase. In this phase, the GDP, income, and employment all rise. In this phase, a rise in spending will occur and inflation…

1.1 Background The mission of the FDA Office of Financial Management (OFM), Division of Financial System Support (DFSS) is to coordinate the management of FDA’s financial system of record Unified Financial Management System (UFMS) with Health and Human Services (HHS) and the other HHS Operating Divisions (OpDivs) who currently use UFMS. UFMS is the HHS department wide financial system of record. The HHS Financial Enterprise System Management (FESM) organization is responsible for managing the…