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Financial Reporting and Analysis Reporting income for dot. coms Priceline.com A1- Priceline would now record this transaction by recognising revenues of $250 and expenditures for its service to be $200, generating a net $50 from the deal (20 percent of 250). A2- Since Priceline is not providing the service directly but rather is acting as a middleman between service providers and customers, reporting revenue of just $50 rather than the entire transaction could be a preferable way to record the transaction. A3- The business could employ approach (I) if it is expressly rendering its lodging, transportation, etc., and neither the client nor the service provider would certainly default. The business should employ technique (II) in any of the other scenarios since it is only serving as an intermediate. A4- As a member of FASB, I would emphasise the need for the business to completely abandon method (I) when recording transactions and switch to a method (II) for all transactions. StarMedia Network A1-A company has two methods of recording transactions. 1. Add that to this year's earnings, and the company's earnings come to him at $20.1 million. 2. Add a footnote when preparing the financial statements and state “expected earnings”. For reciprocal agreements: $5.5 million with reported revenue of $14.6 million. A2- As StarMedia's CFO, I choose Option 2. Because accounting standards believe it. Avoid pretence and report future earnings. This is mainly due to conservatism (Caution) An accounting concept that a company must be accountable for all accounts that may occur in the future. No loss and profit when recording trades. A3- As a member of the FASB, I do not allow companies to record mutual agreements. Procedures are treated as current year earnings but can indicate potential future earnings Outside the annual financial statement as a footnote. Amazon.com A1- If Amazon.com reports the cost of fulfilment as the cost of goods sold, it should report a gross loss of $122,205. Excluding marketing and sales expenses, the loss after marketing and sales expenses was $122,205, the same as before. A company's ending inventory may or may not increase depending on the storage costs incurred by the company. So stock price >= $220646. A2- As the company's CFO, I recommend that the company include operating and labour costs, and storage costs, including picking, packing and preparing customer orders for shipment, in the cost of goods sold. Company. Costs that include customer service centres should be part of your marketing and sales costs. As a member of the FASB, I would like to point out that Amazon.com follows the above rules. Because Amazon.com depicts the costs incurred by the company in various details. -Prathmesh Agarwal | PGP13174 Financial Reporting and Analysis Reporting income for dot . c o ms Priceline.com A1 - Priceline would now record this transaction by recognising revenues of $250 and expenditures for its service to be $200, generating a net $50 from the deal (20 percent of 250). A2 - Since Priceline is not providing the service directly but rather is acting as a middleman between service providers and customers, reporting revenue of just $50 rather than the entire transaction could be a preferable way to record the transaction. A3 - The business could employ approach (I) if it is expressly rendering its lodging, transportation, etc., and neither the client nor the service provider would certainly default. The business should employ technique (II) in any of the other scenarios since it is only serving as an intermediate. A4 - As a member of FASB, I would emphasise the need for the business to completely abandon method (I) when re cording transactions and switch to a method (II) for all transactions . StarMedia Network A1 - A company has two methods of recording transactions. 1. Add that to this year's earnings, and the company's earnings come to him at $20.1 million. 2. Add a footnote when preparing the financial statements and state “expected earnings”. For reciprocal agreements: $5.5 million with reported revenue of $14.6 million. A2 - As StarMedia's CFO, I choose Option 2. Because accounting standards believe it. Avoid pretence and report fu ture earnings. This is mainly due to conservatism (Caution) An accounting concept that a company must be accountable for all accounts that may occur in the future. No loss and profit when recording trades. A3 - As a member of the FASB, I do not allow companies to record mutual agreements. Procedures are treated as current year earnings but can indicate potential future earnings Outside the annual financial statement as a footnote. Amazon.com A1 - If Amazon.com reports the cost of fulfilment as the cost of goods sold, it should report a gross loss of $122,205. Excluding marketing and sales expenses, the loss after marketing and sales expenses was $122,205, the same as before. A company's ending inventory may or may not increase depending on the storage cost s incurred by the company. So stock price >= $220646. A2 - As the company's CFO, I recommend that the company include operating and labour costs, and storage costs, including picking, packing and preparing customer orders for shipment, in the cost of goods sold. Company. Costs that include customer service centres should be part of your marketing and sales costs. As a member of the FASB, I would like to point out that Amazon.com follows the above rules. Because Amazon.com depicts the costs incurred by the company in various details. - Prathmesh Aga rwal | PGP13174 Financial Reporting and Analysis Reporting income for dot. coms Priceline.com A1- Priceline would now record this transaction by recognising revenues of $250 and expenditures for its service to be $200, generating a net $50 from the deal (20 percent of 250). A2- Since Priceline is not providing the service directly but rather is acting as a middleman between service providers and customers, reporting revenue of just $50 rather than the entire transaction could be a preferable way to record the transaction. A3- The business could employ approach (I) if it is expressly rendering its lodging, transportation, etc., and neither the client nor the service provider would certainly default. The business should employ technique (II) in any of the other scenarios since it is only serving as an intermediate. A4- As a member of FASB, I would emphasise the need for the business to completely abandon method (I) when recording transactions and switch to a method (II) for all transactions. StarMedia Network A1-A company has two methods of recording transactions. 1. Add that to this year's earnings, and the company's earnings come to him at $20.1 million. 2. Add a footnote when preparing the financial statements and state “expected earnings”. For reciprocal agreements: $5.5 million with reported revenue of $14.6 million. A2- As StarMedia's CFO, I choose Option 2. Because accounting standards believe it. Avoid pretence and report future earnings. This is mainly due to conservatism (Caution) An accounting concept that a company must be accountable for all accounts that may occur in the future. No loss and profit when recording trades. A3- As a member of the FASB, I do not allow companies to record mutual agreements. Procedures are treated as current year earnings but can indicate potential future earnings Outside the annual financial statement as a footnote. Amazon.com A1- If Amazon.com reports the cost of fulfilment as the cost of goods sold, it should report a gross loss of $122,205. Excluding marketing and sales expenses, the loss after marketing and sales expenses was $122,205, the same as before. A company's ending inventory may or may not increase depending on the storage costs incurred by the company. So stock price >= $220646. A2- As the company's CFO, I recommend that the company include operating and labour costs, and storage costs, including picking, packing and preparing customer orders for shipment, in the cost of goods sold. Company. Costs that include customer service centres should be part of your marketing and sales costs. As a member of the FASB, I would like to point out that Amazon.com follows the above rules. Because Amazon.com depicts the costs incurred by the company in various details. -Prathmesh Agarwal | PGP13174