What is the revenue recognition principle? What is the current environment regarding revenue recognition?

February 17, 2020/in Feeds /by Munene david

What is the revenue recognition principle? What is the current environment regarding revenue recognition? How IFRS

differs from GAAP in Revenue Recognition.

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Homework AssignmentNote that there are 5 PARTS spread over 3 PAGES for this homework assignment.Part 1:Assume we’re operating a company

February 17, 2020/in Feeds /by Munene david

need help completing it , I have done some of them

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ACCT346 Week 1 Homework AssignmentNote that there are 5 PARTS spread over 3 PAGES for this homework assignment.Part 1:Assume we’re operatng a company ThaT produces and sells baked goods To reTail ouTleTs.±he company’s infrasTrucTure consisTs of a leased facTory (producton) faciliTy where all of Thebaking is done, and There are sales and adminisTratve oFces locaTed in a separaTe buildingleased aT anoTher locaton. Identfy wheTher each of The following expense iTems for Thiscompany would be caTegorized as a PRODUC± COS± or a PERIOD COS± by placing an “X” in TheappropriaTe box for each iTem. NoTe ThaT each Type of expense is eiTher a producT cosToraperiod cosT, buTnotboTh. ±he ²rsT iTem has already been compleTed for you.Expense ItemPRODUCT COSTPERIOD COST³acTory insuranceXCompany presidenT’s salaryXBakers’ wagesXDepreciaton expense on bake ovensX³acTory utlites³acTory leaseXAdvertsing cosTsX³acTory supervisors’ salariesXSales commissionsX³lour used in baking breadXPart 2:³or The same company and scenario described in ParT 1 above, identfy wheTher each ofThe following expense iTems for This company would be caTegorized as a DIREC± COS± or anINDIREC± COS± by placing an “X” in The appropriaTe box for each iTem. NoTe ThaT each Type ofexpense is eiTher a direcT cosToran indirecT cosT, buTnotboTh. ±he ²rsT iTem has already beencompleTed for you.Expense ItemDIRECT COSTINDIRECT COST³acTory insuranceXBakers’ wagesXEggs used for bakingXDepreciaton expense on bake ovensX³acTory leaseXCleaning maTerials for bake ovensX³acTory utlitesX³acTory supervisors’ salariesXLubricanT for facTory equipmenTX³lour used in baking breadXPart 3:³or The same company and scenario described in ParT 1 above, identfy wheTher each ofThe following expense iTems for This company would be caTegorized as a VARIABLE COS± or a

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