Memo 9: the general accounting office (as it was called then; now it is called the government accountability office) prepared a report which showed that during 1997 through 2001, many publicly owned companies restated their financial statements. one of the frequent causes of restatements is that companies recognize revenue which they were not entitled to recognize. a. when should an entity recognize revenue? b. does it matter if the seller warranties what was sold? if so, what is the appropriate accounting treatment? c. does it matter if what is being sold must be accepted by the purchaser? d. does it matter if the seller must provide something else (upgrades, additional products, etc.) after the original delivery? if so, what is the app

What would be the input, conversion and output of developing a new soft drink

Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.

Wang distributors has an annual demand for an airport metal detector of 1 comma 350 units. the cost of a typical detector to wang is $400. carrying cost is estimated to be 19% of the unit cost, and the ordering cost is $24 per order. if ping wang, the owner, orders in quantities of 300 or more, he can get a 10% discount on the cost of the detectors. should wang take the quantity discount? \