The Fun Cinema is a contemporary theater near a university campus. At the entrance to the theater,

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The Fun Cinema is a contemporary theater near a university campus. At the entrance to the theater, the cashier accepts cash from clients and runs a machine that ejects a serial number of tickets for each film. Afterward, customers enter the theater lobby, where they may buy food at the concession stand. To enter the film, a client presents the ticket to a ticket collector stationed approximately 50 feet from the box office at the entrance to the lobby.

The ticket collector cuts up the ticket in two, provides the stub to the client, and enables the client to enter the theater hall via a turnstile with an automated counter. The ticket holder slips the other half into a secured box.

What are the internal controls in cash receipts handling?

What actions should the theater management take periodically to ensure these measures are as effective as possible?

Suppose that the cashier and the ticket-taker decide to work together to seize the film theater. What actions might they take? What actions?

What additional control measures might Fun Cinema install for each proposal described in to capture the criminals and limit the danger of future theft?

Venus Company makes wireless satellite transponders. Venus was recently bought by Zelltech Company, which is mostly renowned for its development of software communications and produces a specialist transponder with the trade name " Zelltech," which competes with one of Venus's products. Venus is currently discontinuing Zelltech and plans to boost its product line market share. Nevertheless, the management of Venus will retain its rights as a defensive, intangible asset to Zelltech to prevent its use by rivals, even if it would best utilize the sale of the trading name. Venus thinks that the commercial name is worth $1.5 million domestically but would earn $2 million if sold. Answer using the FASB ASC supportive quotations.

How does the intangible defensive asset define the FASB ASC Glossary?

According to ASC Topic 905, what is the measuring principle that an acquirer should apply when documenting identifiable assets acquired through an enterprise combination?

What premise of value (in-use or in exchange) should Venus ascribe Z-Tech to trade in its consolidated financial statements according to ASC Topic 820?

Intangible General According to ASC Topic 350, how might Venus evaluate its defensive intangible asset's anticipated useful life?

For all its assets and liabilities, ISee Company agreed to pay the four previous owners of Vision Group $20 million in cash. These four Vision Group proprietors have created and copyrighted a system for real-time traffic monitoring on the top 200 roads in the country, which are regularly congested. ISee wants to merge new technology with current global positioning systems and projects, significantly improving revenues.

As part of the purchase deal, ISee also commits to pay the prior owners extra sums after achieving specific financial objectives. ISee will pay the four former Vision Group owners $8 million if total system earnings surpass $100 million over the following three years. ISee predicts that the currently adjusted likelihood of this contingent payout is $4 million. The four previous owners have also been granted contracts to support system integration and performance improvement concerns with ISee. The employment contracts stay quiet on the service life, contain nominal pay identical to those of comparable staff, and set the profit-shared component of ISee's present fair value of $2 million (provided the staff remains with the firm) for the following three years. The four former owners of Vision Group claim that they will remain for at least three years as workers to support the intended financial objectives.

Should consider the contingent payments promised to former Vision Group owners as a consideration delivered to the workers for purchase or as compensation costs?