...JC Penney Coupon Online Store When the buying spirit comes alive use of discount coupons like JC Penney Coupons is a major issue of cut rate processes always rendered in acquiring the best solution to various deals that are necessities you will want to match as part of your daily schedules you live with at home or school and you enjoy working with a purpose and a mission you will get engaged in online buys through JC Penney Coupon Online Discounts. With a discounted purchase frenzy which you will want to keep in contact with, different situations In which you can indulge with such as web store purchases, as a simple and acquirable discounted methods of buys through coupons online and you can attach your reference with codes you can get when...
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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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...Bright. Part of CCPC's marketing campaing was to "drop" appromixamatly 500,000 coupons in the Sunday newspaper where Fresh & Bright was sold. The coupon worked in the following way: The 500,000 coupons could be used through October 1, 2010. CCPC has data one six month coupons for other products but does not have any data on one year coupons for detergent. CCPC estimates that two percent of the detergent coupon will be redeemed. As of Septemeber 30, 2009 CCPC has sold $2,000,000 of Fresh & Bright. Issues 1. What is the accounting issue(s) and the relevant components of the autthoritative literature? 2. When should CCPC recognize the effects of the Fresh & Bright coupon donp in its financial statements? 3. What is the dollar amount of the effect of the Fresh & Bright coupon drop on CCPC's financial statement? 4. What would constiture "sufficient evidence" to support CCPC's expected redemtion rate of 2 percent?\ 5. What are the accounting implications if CCPC's estimated redemption rate changes to 2.5 percent at a later point in time? 6. How should the effects of the Fresh & Bright coupon drop be reflected in the income statement? 7. What are the necessard journal entries? Analysis Analysis of Issue 1: What is the accounting issue(s) and the relevant components of the authoritative literature? The accounting issues relevant to the case of CCPC is the correct recognition of coupons related to sales of detergant. Relevant components of the authoritative literature...
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...Part A 1. Coupons Coupons are the promotional tools that can be redeemed for discounts when purchasing goods and services. Normally the manufacturers, wholesalers, or retailers issue coupons to their customers through several ways like direct mail, email, and messages. By placing coupons in magazines or newspapers, the company can attract the potential customers to try its product, and they will continue to buy it if the customers like it. Current customers are delighted when they receive the coupons and the gift of savings from company of a product that they buy regularly. Coupons are the special offer and inexpensive form of marketing to persuade consumers to purchase the specific goods and services from specific companies. Due to these facts, the majority of companies would like to use some type of coupon program although competitors are doing it. Besides that, well-designed coupon programs help company to gain the competitive advantages and create brand awareness. For example, Tesco will send the coupons through email or attach in the newspaper to customers. Customers only need to print out or cut out, and present to the cashier when paying the discounted products. (Left) Tesco coupon sample 2. Rebates Rebates, like coupons, offer value to purchase typically by lowering the customer’s final cost for getting the product. Rebate is a type of sales promotion that marketers use primarily as incentives to product sales. Consumers benefit from the lower price...
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... These are their stories (for any Law and Order fans): Case One: Facts Consumer Cleaning Products Corporation (CCPC) is a public company with a calendar yearend. CCPC manufactures detergent that is ultimately purchased (and used) by consumers. The supply chain consists of the following: * CCPC sells its detergent to a wholesaler; * The wholesaler sells the detergent to a retailer; and * The retailer sells the detergent to a consumer. CCPC launches a new detergent, Fresh & Bright, on September 1, 2009. In connection with this launch, CCPC developed a comprehensive marketing campaign. Part of that campaign involves releasing (‘‘dropping’’) approximately 500,000 coupons in Sunday newspapers in locales in which Fresh & Bright will be sold. When a consumer redeems the coupon upon purchasing a bottle of Fresh & Bright from a retailer, the price charged to the consumer is reduced by...
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...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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