The use of the passing of control criteria for recognition of revenue will result in less comparability
Question:
‘The use of the passing of control criteria for recognition of revenue will result in less comparability as companies can then manage their earnings.’ Discuss.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 40% (5 reviews)
There are a few possible explanations for why the use of the passing of control criteria for recogni...View the full answer
Answered By
Tosin Falode
I am a microbiology graduate.I am passionate about biology related topics. I am keen on details and I deliver quality work. I worked as a laboratory technologist in 2021, therefore I am skilled in the field of biological sciences. I worked on a phytochemical analysis and antimicrobial activity of medicinal plants research project for my degree in microbiology. I am punctual and hardworking.
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial Accounting And Reporting
ISBN: 9781292255996
19th Edition
Authors: Barry Elliott, Jamie Elliott
Question Posted:
Students also viewed these Business questions
-
Discuss the respects in which the following revenue recognition criteria in IFRS correspond with the definitions and recognition criteria for assets. Revenue recognition criteria Related asset...
-
Discuss how companies manage their international marketing activities.
-
Discuss how a company can manage earnings by changing its depreciation method. Is this an effective technique to manage earnings?
-
Prepare journal entries to record each of the following sales transactions of TFC Merchandising. TFC uses a perpetual inventory system and the gross method. May 1 9 Sold merchandise for $600, with...
-
Consider a Poisson counting process with arrival rate . (a) Suppose it is observed that there is exactly one arrival in the time interval [0, to]. Find the PDF of that arrival time. (b) Now suppose...
-
Find N P . V P = 30.0 V V S = 45.0 V N S = 15.0 turns
-
Tom Bonacci brought his Jeep to Brewer Service Station to investigate a strange noise the vehicle was making. The Jeep was raised up on an automobile lift so that Brewer employee Paul Gebing could...
-
Meera Corporation?s comparative balance sheets are presented below. Additional information:1. Net income was $22,630. Dividends declared and paid were $19,500.2. All other changes in noncurrent...
-
Elaborate on why you feel that the chosen concept Tariffs is most important in relation to the wine and spirit industry. How does this affect you as a sales associate working in the wine and spirit...
-
On December 1, Year 1, John and Patty Driver formed a corporation called Susquehanna Equipment Rentals. The new corporation was able to begin operations immediately by purchasing the assets and...
-
Concordia is a construction company. On 1 October 2015, Concordia entered a three-year fixed price contract to build a bridge for $30 million. Further details of the contract are shown below:...
-
Profit on a contract is not realised until completion of the contract. Discuss.
-
Two automatic systems for dispensing maps are being compared by the state highway department. The accompanying breakeven chart of the comparison of these systems (System I vs System II) shows total...
-
CoffeeStop primarily sells coffee. It recently introduced a premium coffee-flavored liquor. Suppose the firm faces a tax rate of 22% and collects the following information. If it plans to finance 15%...
-
Boeing Corporation has just issued a callable (at par) three-year, 4.7% coupon bond with semiannual coupon payments. The bond can be called at par in two years or anytime thereafter on a coupon...
-
Your firm has tangible assets of $103.4 million. You are planning to acquire a firm that is half your firms size. You have bonds with a merger & acquisition covenant that requires the combined firm...
-
Despite the voracious habits of army ants, multiple species of invertebrates have managed to penetrate and exploit their societies. For example, the silverfish Malayatelura ponerophila is an insect...
-
Andyco, Inc., has the following balance sheet and an equity market-to-book ratio of 1.6. Assuming the market value of debt equals its book value, what weights should it use for its WACC calculation?...
-
Let g : ( (0, () be nondecreasing in (0, () and symmetric about 0 (g(-x) = g(x)) x ( (), and let X be a r.v, such that (g(X) < (. Then show that: P(|X| ( c) ( (g (X)/g(c) for every c > 0.
-
Express mass density in kg/m3 and weight density in lb/ft3. 1. Find the mass density of a chunk of rock of mass 215 g that displaces a volume of 75.0 cm3 of water. 2. A block of wood is 55.9 in. x...
-
Infinite Leisure Group owns and operates a number of pubs and clubs across Europe and South East Asia. Since inception the group has made exclusive use of the cost model for the purpose of its annual...
-
The Blissopia Leisure Group consists of three divisions: Blissopia 1, which operates mainstream bars; Blissopia 2, which operates large restaurants; and Blissopia 3, which operates one hotel the...
-
Cryptic plc extracted its trial balance on 30 June 20X5 as follows: The following information is relevant: (i) The company discontinued a major activity during the year and replaced it with another....
-
Draw the memory diagrams for all variables and objects created when you run the main method below. public class Singleton { private int value; public Singleton( int value) { } this.value = value;...
-
1. Show the results of inserting the following sequence of keys into an initially empty AVL tree: 15, 10, 11, 16, 12, 30, 18, 20, 19, 17. Show the tree after each insertion (10 trees). 2. In an AVL...
-
Find the closed form for each T(n) given as a recurrence: 1. T(n) = { 2 : n = 1 (1) T(n 1)+2 : n 2 2. T(n) = {3} 2 T(n 1) + 4n - 3 : n = 1 : n> 1 (2) 3. T(n) = { 2 : n = 1 (3) 2T (n - 1) 1 : n 2 4....
Study smarter with the SolutionInn App