Consider that the key difference in revenue recognition under ASC 605 vs 606 is that ASC 605 focused on transferring risks and rewards, but ASC 606 focuses on transferring control. How is the difference in control under ASC 840 vs 842 similar or different to this?

Marketing Lemonade Worksheet

Scenario

Your team is looking for a way to make some revenue as either a for-profit or not-for-profit organization. This organization can market locally, nationally, or internationally, and can be a privately-owned company or a franchised organization. The product that you have decided to sell is lemonade. To make the endeavor work, you will have to define a marketable form of the drink and decide on a target market.

Your marketing team's mission is to prove through research, strategy development, and reasoning why this form of this product is viable and will meet the company's goals. In the first half of this project, your team will complete this worksheet to report on the following:

• Target market
• Product’s definition to the target market
• Viable pricing strategy
• Brand's position in the competitive environment

I need help with the life cycle of lemonade

1. Discuss the maturity life cycle stages of your product in no more than 90 words for each stage.

The organizations’ Controller has received a notice from the Canada Revenue Agency (CRA) advising that the organization will be changing from an Accelerated threshold 1 remitter to an Accelerated threshold 2 remitter effective with the first pay of the new year. The Controller has asked you to provide an explanation of why this change has occurred. In addition, she wants to understand how this will impact the statutory remittance schedule. Using the Current Year calendar in the course material, provide specifics of when the remittances are due for the January and February bi-weekly payrolls starting with the first pay date of the new year which is Friday January 5th.

1. True___False___ The issuance of Common Stock produces Sales (or Revenue) for a corporation.       

2. True___False___ The issuance of Common Stock produces a profit for a corporation.               

3. True___False___ Dollar amounts on a Balance Sheet are valid only for a single date.

4. True___False___ An Income Statement provides information about a company’s performance.

5. True___False___ A Journal entry always consists of at least one Debit and one Credit.

6. True___False___ The Journal provides a chronological record of a company’s transactions.

Explain how an airline’s inventory management system and revenue management system must be linked.

Pricing is extremely difficult for companies to get right. Not only does price provide revenue and enable a company to maximize profit, price also reflects the value of the product or service.

Some examples of pricing strategies are:

• Premium Pricing: a high price for a product (e.g. Lexus or Ferrari)
• Penetration Pricing: a low price to win market position (e.g. Walmart entering a new market)
• Economy Pricing: a no-frills low price (e.g. Low-cost carriers)
• Bundle Pricing: a combination package of products or services to increase sale or move inventory.

Select a product or service in the aviation industry. What pricing strategy/model is used? In your opinion, is it the correct one? Why or why not?

The important part of this activity is to think about the specific pricing strategy as you apply the concepts found in your readings with your chosen product or service to develop your response.

Jim’s firm increased its total revenue by lowering the price of the product by five percent last month. This month a 5% reduction in price has lead to a decrease in total revenue. There is no reason to suspect a change in demand for the product, all the shift variables have remained constant. Please explain this confusing situation to Jim.

Ritewell sells pens at a current price of £10, producing a revenue of £120,000 per month, of which 20% is spent on advertising. The marketing manager wants to increase sales to 16,000 units per month, and is considering whether to increase advertising or reduce price to achieve this target. He has estimated that the PED for Ritewell’s pens is –1.5 and the AED is 1.8. a) Calculate how much would need to be spent on advertising to achieve the target sales. b) Calculate how much of a price cut would need to be made to achieve the target sales. c) Explain which is the better decision in terms of achieving the desired target.