...1) In regards to recognizing the costs of a sales incentive, such as coupons, the Accounting Standards Codification (ASC) 605-50-25-3 states that, “a vendor shall recognize the cost of such a sales incentive at the later of the following: a. The date at which the related revenue is recognized by the vendor b. The date at which the sales incentive is offered” In this case, Consumer Cleaning Products Corporation (CCPC) had recognized revenue for over $2,000,000 by December 31, 2009. CCPC began releasing coupons concurrently with the detergent’s launch date of December 1, 2009; therefore, requirement (a) is the later of the two dates. All of the estimated coupon redemption of $20,000 should be expensed on December 31, 2009 which would fall within CCPC’s 2009 Income Statement. 2) According to ASC 605-50-25-4, “A vendor shall recognize a liability… based on the estimated amount of refunds or rebates that will be claimed by customers. However, if the amount of future rebates or refunds cannot be reasonably and reliably estimated, a liability (or deferred revenue) shall be recognized for the maximum potential amount of the refund or rebate.” The codification then states factors that make estimates unreliable including: “a. Relatively long periods in which a particular rebate or refund may be claimed b. The absence of historical experience with similar types of sales incentive programs with similar products or the inability to apply such experience because...
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...Clue, The Game of LIFE, Scrabble or Monopoly games was 12.99 - 18.99 50 OFF % ALL Hot Wheels kid picks reg. 0.99- 32.99 ea. Discounted item must be of equal or lesser value to the lowest priced item purchased. BUY 1 GET 1 Sale 9.09 - 13.29 ea. 236985, 231967, 236772, 236888, 231215, 033480 FREE $10Gift Card when you buy ANY TWO Similac 8 oz. 24 pks. ready-to-feed formula In store only. Quantities limited; no rain checks. Gift card valid on your next purchase. Offer expires 9/6/10. See back of card for Terms & Conditions. Valid 9/3 - 9/6/10 $ 10 Save 30% ALL CAT 15" trucks To redeem online, enter promotional code #940520 at checkout. Online offer may vary. One coupon per guest. Not valid with any other “R”Us offer for same item or on prior purchases. Coupon must be surrendered at time of purchase and value is forfeited if item is returned. We reserve the right to limit quantities. Void where 5 prohibited. Valid USA only. Cash value 1/100 of 1¢. CPN ITEM #940520 00009 40520 7 3-DAY SALE: Quantities limited; no rain checks. Selection varies by store. Please check your local Babies“R”Us/Toys“R”Us or online for availability. Offers valid in USA only. 1 Save $20 ALL Radio Flyer My 1st Scooters Sale 29.99 ea. was 49.99 Helmets and pads sold separately. 50 OFF % ALL Nickelodeon DVDs reg. 6.99 - 29.99 ea. In store only. Discounted item must be of equal or lesser value to the lowest priced item purchased. BUY 1 GET 1 Save...
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...in five smart phone users over the age of 18 redeemed a mobile coupon and it is estimated that one out of three smart phone users will redeem coupon sent to their mobile phone in 2013 (eMarketer, 2011). With the online direction customers are taking in recent years and the tremendous forecasted growth to come; online couponing can be a beneficial marketing tool for companies. Accessibility has a huge part to play in mobile coupon initiatives. Looking back five years ago, we drove to the nearest convenient store to pick up a paper (or some of us had it delivered) and took time sorting through loads of coupons that meant nothing to searching ones that had value to us. Current technology allows companies to track purchases and identify specific consumer interests. In this way, companies have a better understanding of their customer’s wants, needs and values and can target specific categories that interest different types of consumers. This comes as huge value to businesses giving a sharp edge to speaking the consumer’s language. Online couponing can be labeled as a more sustainable objective as it eliminates paper waste, reduces cost in production and distributions, and can be directed towards target audiences. Distribution times are dramatically affected as well as getting the coupon in the customer’s hands faster. Mostly all coupons have an expiration date associated with them. Even when only clipping coupons that will be used, many go to waste due to the expiration date...
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...other capital goods (Export Help, n.d.). A hard technology used by the Dollar General Company in the domestic environment is the digital coupon program. “On July 31, 2014 Dollar General, in partnership with Coupons.com, completed the successful rollout of its new Dollar General Digital Coupons program to its more than 11,300 stores across 40 states” (Cross, 2014). Another hard technology used by Dollar General is the workforce management system. This program assists in managing the labor hours, adjusting during forecasted busier hours and less personnel during expected lulls (Retail Information System News, 2011). A soft technology can be characterized as the use of the programs, personnel and hard technology, such as marketing, administrative procedures and finance (Export Help, n.d.). In 2011 Dollar General introduced a soft technology domestically and globally, with the incorporation of the e-commerce to boost sales over a greater distance (Retail Information System News, 2011). The technology barriers for Dollar General in the domestic and global environments encountered to introduce the digital coupon program and the workforce management system were limited to the hardware required at the store locations and internet capability for the customers to be able to click on the coupons of their choice. The strategy used to initiate the coupon program was to supply 11,300 stores across the 40 states with the required hard technology (Dollar General, 2014). This type of technology...
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...reposition TCRS brand relative to its competitors since TCRS has only a small market share in this industry. Firstly, TCRS would like to get a response rate of at least 250 coupons out of the 5000 that they have printed. This would make up to 5% of the whole campaign. This can be done through the coupons that are dropped off in the mailbox and customers would present these coupons upon payment at the counter to enjoy their discount. In order to increase the accuracy of customer’s information in the database, TCRS can design the coupon in such a way whereby the back of the coupons has to be filled up with the customer’s particulars. Customer’s particulars can be their date of birth, address, contact number and email addresses. Coupons can only be utilized after the back of the coupon has been filled up. With that information on hand, TCRS can tally the information collected from the coupon against those from their database. On the other hand, TCRS can use those information collected from the coupon to send out electronic direct mailers to customers notifying them of the current promotions or any new dishes on the menu. Birthday cards containing discount vouchers can also be sent via direct mailer or electronic direct mailer and customers can present them during their birthday month to enjoy those discounts. With the coupon mailer being distributed into the letterbox of those staying around the vicinity of Woodlands, TCRS hope to increase sales by 20% within this retail group of customers...
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...Coupon Craze: Is it worth it? Abstract In today’s world people are always on the go and always wanting to have things so fast. It is surprising to find that not everyone wants the cheapest price however. Couponing has grown to become a popular craze due to the recent airing of the reality show Extreme Couponing. Only 2% of all printed coupons are actually used in today’s economy. This is especially surprising when you can find coupons in so many places today. There is the Sunday paper, internet coupons, and mobile coupons. There are also many stores that offer store coupons that can be combined with manufacturer coupons to save even more money. Even if you do not have a ton of time to dedicate to saving money there are services that will send the coupons you want to your home already clipped and internet sites telling you exactly what store to go to and with what coupons. With everything laid out and explained couponing today seems to be a logical thing to do. So then why are only 2% of the coupons being used? Introduction Have you ever stood behind someone in line at the grocery store with a handful of coupons and think to yourself what a waste of time? In today’s fast paced lifestyle, couponing is actually a great way to save money. Today, there are about “310 billion coupons printed and only 2% of them are actually redeemed.”(Slater, 2001, p.3) “Coupons have been criticized on the grounds that they only discriminate against low-income consumers, consumers who...
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...Consumerism: Using coupons to save money Gina York ENG102 May 23, 2012 Sarah Giragosian Consumerism: Using coupons to save money Consumers face daily struggles. However, many would say that the one thing they struggle with the most is how to find ways to stretch their paycheck enough to cover the bills and put food on the table. In fact, despite having two paychecks coming in, the average American family is still unable to make ends meet. While we can eliminate some things from our daily lives, such as the $5 cup of coffee at the local “Java Joe’s”, we cannot eliminate our daily need for food and basic necessities. Consequently, with the continued downturn in the economy, people have had to become more creative in finding ways to save money. Using coupons to aid in discounting products is widely becoming the method of choice. Consumers have had to make some very hard decisions based on income and necessities. We have all had to “tighten our belts” and “watch our pennies”. “During these hard economic times, many people are looking for new ways to save money on as many things as possible. Groceries, electric and other utility bills, as well as on other items like diapers and baby care supplies, cleaning supplies and paper products.” (How to Save Money With Grocery Coupons, 1999-2012) Along with the ever present thought of saving and keeping our hard earned dollars in mind, many have returned to the days of our grandmothers, known for saving their pennies. We realize that...
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...Chapter 8 Trade and Cash Discounts Section Exercises 8-1, p. 267 1. +400(0.3) = +120 2. +400 - +120 = +280 3. +14.67(20) = +293.40 total cost +293.40(0.2) = +58.68 trade discount 4. 30(6) = 180 one-gallon units 180(+2.18) = +392.40 total cost +392.40(0.18) = +70.63 trade discount 5. +293.40 - +58.68 = +234.72 net price 6. +392.40 - +70.63 = +321.77 7. Net price rate = 100% - 20% = 1 - 0.2 = 0.8 +293.40(0.8) = +234.72 net price Results are the same as Exercise 5. 8. Net price rate = 100% - 18% = 1 - 0.18 = 0.82 +392.40(0.82) = +321.77 Results are the same as Exercise 6. 9. Answers will vary. 10. Net price rate method. The net price can be found using a direct series of calculations. 11. Invoice No. 2501 October 15, 20XX Qty. 15 10 30 Item Notebooks Looseleaf paper Ballpoint pens Unit price List price $1.50 $22.50 0.89 8.90 0.79 23.70 Total list price 55.10 40% trade discount 22.04 Net price $33.06 Notebooks: 15(+1.50) = +22.50 Looseleaf paper: 10(+0.89) = +8.90 Ballpoint pens: 30(+0.79) = +23.70 Total list price = +22.50 + +8.90 + +23.70 = +55.10 40% trade discount = +55.10(0.4) = +22.04 Net price = +55.10 - +22.04 = +33.06 12. Net price rate = 100% - 40% = 1 - 0.4 = 0.6 Net price = +55.10(0.6) = +33.06 13. Net price rate = 100% - 28% = 72% Net price = 72%(+148,287) = 0.72(+148,287) = +106,766.64 8-2, p. 272 1. 100% - 7% = 93% = 0.93 100% - 10% = 90% = 0.9 100% - 5% = 95% = 0.95 0.93(0...
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...Saving Loads of Cash with McDonalds Coupons The McDonalds coupons are now offering customers a new reason to spend their money with McDonald’s products. Whether you like burgers, fries, or chicken, the McDonald coupons are increasing your chances of saving so long as you spend your money with them. You do not need to go to the expensive eateries which are interested in your spending more than your saving abilities. At McDonalds, you are assured to enjoy your choice of foodstuff while giving you an opportunity to save your hard-earned cash. At McDonalds, you are also assured to find the best deals on foodstuffs of your choice. Using the McDonalds coupons and their promotional features, you are assured of increasing your purchasing potential and saving a few dollars in the process. It is up to you to experience and enjoy spending with the McDonalds by looking for McDonalds coupons before your next shopping. What are MacDonald’s coupons? Over the last few decades, Macdonald has proven to be a reliable fast food company that delivers you quality products at your convenience. McDonald’s products are a commonplace in terms of foodstuffs. The best thing of shopping your foodstuffs at McDonalds is that its products are relatively cheap and thus affordable. To add on to this, McDonalds have realized that their customers are important part of their business. As such, McDonalds have introduced a new savings plan through which their customers can reduce their shopping bills with every purchase...
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...marathon volunteering work. I volunteered for different races such as, Sundown Marathon, Great Eastern Women Run and the SGX Bull Charge Run. During different runs, I gained new experiences and realized that working and organizing such runs may not be an easy task and it requires a lot of team work to get this moving smoothly. At the end of the SGX Bull Charge Run, we were told to help disperse the crowd at the floating platform of Marina Bay as the event is over. Two aunties came up to me and told me they did not manage to use a single coupon as they came back too late. They asked me to allow them to join in the last queue at the Ice-Cream booth so that they could at least use two of their coupons. Taking pity on them, I reluctantly allowed them even though I had instructions not to allow anyone to queue anymore. After that, another two ladies came up to me and requested for the same thing, only they wanted to finish using two of their coupons. While my friend heard the conversation, she came up to the two ladies and told them no. My friend rolled her eyes at the two ladies which resulted them getting into an argument. I stepped in and explained to the two ladies while my friend went to cool off. I told them that we are not supposed to let anyone queue anymore and after a long day of volunteering, my friend was tired and easily agitated thus showing this kind of behavior. I apologized for my friend’s behavior and told them they could stand by the side and wait to see if there...
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...1. They are balanced. On both the Context Diagram and the Level-0 there are 2 inflows to the system from the source customer (purchases and coupons) and three outflows (reports, tailored promotions and coupons) from the system to the sink Customer 2. Decompose each of the core processes in PE Figure 6-2 and draw a new DFD for each core precesses. • Customer makes purchases through the company with or without a coupon > that then is fed to the customer database which sends promotions to the tailored customer • The Marketing Database will also send promotions to target specific tailored customers as well • The customer activity report that is generated based on the consumer’s activities generates the coupons that is send to the customer • The product database then feeds information to generate reports of consumer behavior and also send the consumers coupons based on their trend buys 3. Has the team overlooked any core processes in the same system that should be in PE Table 6-1 and PE Figure 6-2? What would they be? Add them to PE Table 6-1 and Figure 6-2. # 5. Why is it important for the team to create DFDs if they are not going to write the actual system code themselves? It is important for the team to create DFD’s because if will for them to think about the system and how the process works, such as the sources of data, how the data is used, and the information the process generate. It forces the team to know the process, which is truly essential when it...
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...ask the user to enter all of their coupons, which could be 0 or more coupons. 3. The system should ask the user if they are a preferred customer, and if so to enter in their customer id number which gives them a 5% discount on their grocery bill. 4. The system should present the customer with a total amount owed for their grocery bill including a 6% sales tax added to their subtotal. 5. The system should accept a (cash) payment Pseudocode: Set value item to 0 Input (“Please scan”, item) Print( “$ “ , item) # add up cost of item Subtotal = item + item Input (“Additional items?, Yes or No”) # additional item loop If Yes, then “Please san next item.”): Else - Input (“Are you a preferred customer?”) # Preferred customer validation If Yes then add subtract 5% discount from subtotal Else no discount subtracted # Add up total and subtract deductions Total = subtotal minus coupons, minus discount (0 or 5%)+6% tax Flowchart Start Input: Please scan an item? Display Price More items? Y N Preferred Customer? Enter in Customer ID Reduce coupon from total Customer# Valid? 5% discount from total Input: Are you a preferred customer? Scan Coupon Coupons? Y Y Y N N Total - coupons - % disc. + 6% tax N Display – “Your total is $$, please deposit cash” Start Input: Please scan an item? Display Price More items? Y N Preferred Customer? Enter in Customer ID Reduce coupon from total Customer# Valid? 5% discount...
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...Chapter 13 Predicting Student Proficiency Test Scores Predicting Winning Percentage for the NFL Predicting Graduation Rates for Universities Chapter 2 Pelican Stores Pelican Stores, a division of National Clothing, is a chain of women’s apparel stores operating throughout the country. The chain recently ran a promotion in which discount coupons were sent to customers of other National Clothing stores. Data collected for a sample of 100 in-store credit card transactions at Pelican Stores during one day while the promotion was running are contained in the file named PelicanStores. Table 2.18 shows a portion of the data set. The Proprietary Card method of payment refers to charges made using a National Clothing charge card. Customers who made a purchase using a discount coupon are referred to as promotional customers and customers who made a purchase but did not use a discount coupon are referred to as regular customers. Because the promotional coupons were not sent to regular Pelican Stores customers, management considers the sales made to people presenting the promotional coupons as sales it would not otherwise make. Of course, Pelican also hopes that the promotional customers will continue to shop at its stores. Most of the variables shown in Table 2.18 are...
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...Unlike their dot-com counterparts, brick-and-mortar players realize that the launch of Web sites will have a tremendous impact on their existing organizations in everything from sales channels to customer fulfillment to call centers. As a result, clients need to understand the overall impact and implications of the technology before a site goes live. Office supply giant Staples, for example, launched its Staples.com online site in early 1999, largely as an extension to its existing retail and catalog business. The expense associated with the Web effort pummeled the parent company's stock price and generated just an estimated $94 million in online revenue--about 1 percent of Staples' total 1999 revenue of $8.9 billion. Staples completely revamped the site in May, adding new search tools, small-business services and a streamlined checkout procedure. It has also promoted the site heavily in its existing stores and by offering rebates in newspaper advertisements to customers who move to the Web for their purchases. Multichannel retail — the merging of traditional brick-and-mortar retailing with online and mobile retail channels — involves far more than allowing customers to purchase items through a website. Multichannel retailing presents ample, seemingly boundless opportunities for brand engagement and interaction with customers across new platforms. Yet inevitably, these new technologies, platforms and sales channels come with new risks and challenges for companies to manage. With...
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...should account for the Fresh & Bright coupon drop that took place on October 1, 2009. In doing so, CCPC asks for your help. Prepare a memo addressing the following questions. Base your analysis of the following questions on the relevant authoritative literature and discuss the support in that literature for your conclusions. Be sure to cite the relevant components of the Codification in your discussion. Citations are not required for journal entries. 1.What are the accounting issue(s) and the relevant components of the authoritative literature? 2.When should CCPC recognize the effects of the Fresh & Bright coupon drop in its financial statements? 605-50-25-3 25-3 For a sales incentive offered voluntarily by a vendor and without charge to customers that can be used or that becomes exercisable by a customer as a result of a single exchange transaction, and that will not result in a loss on the sale of a product or service, a vendor shall recognize the cost of such a sales incentive at the later of the following: a. The date at which the related revenue is recognized by the vendor b. The date at which the sales incentive is offered (which would be the case when the sales incentive offer is made after the vendor has recognized revenue; for example, when a manufacturer issues coupons offering discounts on a product that it already has sold to retailers). From FASB principle, CCPC should recognize the coupon at which the sales incentive is offered...
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