Explain one or two differences between general criteria for revenue recognition and same in the AASB 118 revenue recognition principles? please explain properly in point formats.

This week I started learning about Planning and Budgeting in Healthcare Finance.

I understand the formulas: Revenue Variance = Actual Revenue - Budgeted Revenue

Expense Variance = Actual Expense - Budgeted Expense

My question is, when you are looking at a Simple Budget Variance Analysis of a business for the fiscal year, how do you decide what information you used to plug into the equations?

A plane delivers two types of cargo between two destinations. Each crate of cargo I is 7 cubic feet in volume and 131 pounds in weight, and earns $20 in revenue. Each crate of cargo II is 7 cubic feet in volume and 262 pounds in weight, and earns $25 in revenue. The plane has available at most 525 cubic feet and 12,576 pounds for the crates. Finally, at least twice the number of crates of I as II must be shipped. Find the number of crates of each cargo to ship in order to maximize revenue. Find the maximum revenue.

Chapters 10-11, revenue and receivables process.  

1. Pick a company and learn about the different ways the company earns revenue.   You can look through the company’s website, 10K or annual reports for information. (The bigger companies have more interesting stuff you get to learn.)

2. Share at least two different revenue streams from that company and explain how each revenue stream goes all the way from order to cash. Make sure that you are demonstrating that you have read and understand the concepts of the book. The goal is to apply what you have learn in the textbook to a real company.

Your local hotel has a dining room which has the capacity to seat 140 guests. It is opened for breakfast and lunch seven days a week and fully expects to be at capacity at these times. During January 2021, management has forecast the seat turnover for breakfast will be 3 times and for lunch 2 times, with the average bill to be $28 for breakfast and $58 for lunch. Beverage revenue is usually 12 per cent of the breakfast revenue and 28 per cent of the lunch revenue.  

Calculate budgeted total revenue of food and beverage for the 31 days of January 2021. Express the answer as a daily food and beverage outcome and also a monthly figure.

General Hospital is introducing a new service that anticipates having 550 patient visits per year at an average cost per visit of $2,250 and average billed charges per visit of $4,400. Determine the amount of gross revenue, contractual deductions, net patient revenue, total costs, and net operating income that would result for both Medicare and Medicaid. Must show all work and calculations.

Payor Class         Number of pt visits      Payment /case       Gross Revenue      Contractual Deductions     Net Pt Revenue   Total Costs     Net Operating Income

Medicare              350 $2,050

Medicaid               200 $1,650

1) Suppose a single-price monopolist is selling more than one unit of a good for a price of $19.95. Of the following choices, which is true?

1. The marginal revenue of that unit must be less than $19.95
2. The marginal revenue of that unit must be $19.95
3. The marginal cost of that unit must be $19.95
4. The average cost of that unit must be $19.95.

2) BenFrank LLC is a monopolist that can sell 8,000 units of SKU972 at a price of $47 each. Raising the price to $50 reduces the quantity demanded by 3,000 units. What is the decrease in total revenue that results from this price change? (state your answer as a positive number) ________

3) Tango Company is a price-discriminating monopoly. Its customers in Houston are charged $30/unit, yet it charges customers in New Orleans $25 per unit. Tango Comapny

1. believes that the demand of individuals in New Orleans is relatively inelastic.
2. believes that the demand of individuals in New Orleans is relatively elastic.
3. wants to shift the demand of individuals in New Orleans.
4. cares about the well-being of the individuals in New Orleans.

4) For a monopolist who practices perfect price discrimination

1. there is no way to define marginal revenue.
2. the demand curve is less than the marginal revenue curve.
3. the demand curve is the marginal revenue curve.
4. the demand curve is greater than the marginal revenue curve.
5. none of the above

Make a comparative report on the approved budget of 2018 with the preliminary result of 2019 budget.

• Using the budget information provided in the table , (page-15) make a comparative report on the approved budget of 2018 with the preliminary result of 2019 budget.

Your report must cover the following items:

Sector contribution and its impact on the total revenue. Rationally analyze and comment on the positive indication in the preliminary results of 2019.

Carry out a vertical analysis of the expenditure for both years and judiciously comment on the expenditure of each category on the total expenditure. ( 4 marks)

Can government increase the tax rate and cut government expenditure to address the deficit?

What impact it makes on the economy?   

Problem 1

SG operates a booth at a local mall, selling watches. Current monthly sales revenue is $24,000 with total variable costs (wholesale cost of watches) of $9,000. SG currently pays $2,000 a month to rent the space and pays two full-time employees to each work 160 hours a month at $15 per hour. The manager is paid a monthly salary of $4,000.

Required (Show your work):

1. Calculate how much sales revenue SG needs to break even (10 points)
2. If SG wants to earn an operating income of $6,300 per month, then how much sales revenue does it need to generate? (5 points)
3. Calculate operating income if SG achieves sales revenue of $30,000. (5 points)
4. Assume SG can choose to pay rent at a rate of 10 percent of revenue. Note that this option would lower the CM ratio by 0.10 and lower fixed costs by $2,000 per month. SG can choose to pay rent either 1) as 10% of its revenue, or 2) as a monthly payment of $2,000. At what sales levels would SG prefer to pay a fixed amount of monthly rent (i.e., $2,000 per month), and at what sales levels would SG prefer to pay 10% of its monthly revenue as rent? (5 points)