Solutions to the long-term contracts in-class questions Practice Question #2 Percentage of completion method a. 2013 2014 2015 2016 Construction costs Incurred to date $ 300‚000 $ 1‚400‚000 $2‚263‚000 $3‚100‚000 Estimated costs to complete 2‚200‚000 1‚400‚000 837‚000 — Total estimated costs $2‚500‚000 $ 2‚800‚000 $3‚100‚000 $3‚100‚000 Percent (%) completed 12% 50% 73% 100% Revenue to date $ 360‚000 $ 1‚500‚000 $ 2‚190‚000 $3‚000‚000 Revenue recognized
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statement of the company‚ it has to take the correct decision about the revenue for the period. The percentage of completion method refers to the income earned by the contractor determined on the basis of progress of the contract. Under this method‚ current assets may include costs and recognized income not yet billed with respect to certain contracts. This method is most commonly used in the construction industry‚ where very long-term construction projects would otherwise keep a company from revealing
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year-to-year percentage annual growth in total net sales Year Sales Growth 2000 $11‚062 2001 $11‚933 (11933-11062)*100/11062 = 7.87% 2002 $9‚181 (9181-11933)*100/11933 = -23.06% 2003 $6‚141 = -33.11% 2004 $8‚334 = 35.71% - Based only on your answer to question #1‚ do you think the company will hit its sales goal of +10% annual revenue growth in 2005? Determine you target revenue figure
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Percent-of-Sales Method The percent-of-sales method is a technique for forecasting financial data. When forecasting financial data for strategic planning‚ budgeting‚ or for developing pro forma financial statements‚ analysts can use the percent-of-sales method of forecasting to create reasonable projections for certain key data. The idea is to see how a financial statement account item relates historically to sales figures‚ and then to use that relationship to project the value of those financial
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Cost Versus Usage Percentage Once of the main reasons why a restaurant’s finances are usually not matching what is spent is because who ever is in charge of managing the purchasing and inventory does not know the difference between actual costs and usage percentage. What a company needs to realize is that both should be treated separately and then compared later to find if further investigation is needed to evaluate the discrepancy. First the company needs to record their attainable cost and evaluate
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Ego Development Customer’s Name: Customer’s Course: Tutor’s Name: SENTENCE COMPLETION TEST FOR MEN Date:_____________ Name:__________________ Age:____ Marital Status:______ Educational Level:_________ Instructions: Complete the following sentences in a single session. 1. When a child will not join in group activities she/he may prefer solitary activities. 2. Raising a family is not very hard if you are financially stable. 3. When I am criticized I feel like crying. 4. A man’s
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Trend percentages are a form of horizontal analysis. Trends indicated the direction a business is taking. Trend percentages are computed by selecting a base year whose amounts are set equal to 100%. The amount for each following year is stated as a percentage of the base amount. Vertical Analysis: Shows the relationship of a financial-statement item to its base‚ which is the 100% figure. All items on the particular financial statement are reported as a percentage of the base. Common-size statements:
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The Bride Comes to Yellow Sky Questions 10/28/2012 1. 2. Potter feels internal conflict on the train. Potter feels like he committed a crime by marrying the woman without the town’s permission because he "thought of his duty to his friends... that he felt was he was heinous." He is bringing his wife‚ who represents change‚ to the old west. 3. The drummer is in the story for exposition. By asking questions like "What is this anyhow? You don’t mean there is going to be a gun-fight?" and "What
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PERSONALITY ASSESSMENT‚ 74(3)‚ 371–383 Copyright © 2000‚ Lawrence Erlbaum Associates‚ Inc. Sentence Completion Tests: A Review of the Literature and Results of a Survey of Members of the Society for Personality Assessment Margot Holaday‚ Debra A. Smith‚ and Alissa Sherry Department of Psychology University of Southern Mississippi Test usage surveys consistently find that sentence completion tests (SCTs) are among the most popular personality assessment instruments used by practitioners. What
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COMPLETING A CARE PLAN A document or a personal record of the health conditions which stands as a mutual agreement between patient and his/her health care professional is referred to as a “Care Plan”. Usually a person with a health condition of long term opts for a care plan as it is helpful in assessing the care required and to be provided. A care plan is generally opted by the patient by insisting it to their GP or any other healthcare professional as this could help in improving health conditions
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