...TO: xxxxx FROM: xxxxxx DATE: xxxxxx SUBJECT: TrueBlood Case 1, Refer-a-Friend Background Runway Discount (Runway), a privately held online retailer, has implemented a new customer referral marketing campaign. The campaign involves incentivizing current customers to refer their friends to Runway’s website. When a current customer refers someone who makes a purchase on Runway’s website, the referring customer receives a $25 credit to be applied to a future purchase. Two important provisions should be highlighted regarding this “Refer-a-Friend” program: * The $25 credit is contingent upon the existing customer’s referral actually making a purchase * The $25 credit is applied to the referring customer’s future purchase at the time that the referred customer makes a purchase The business purpose of this Refer-a-Friend program is to increase sales and expand Runway’s customer base by providing incentives for current customers to refer their friends. The first accounting issue associated with Runway Discount’s Refer-a-Friend program is identifying how the $25 referral credit should be recorded in Runway’s income statement. Is this consideration an adjustment of the selling prices of the vendor’s products or services, and therefore characterized as a reduction of revenue, or is it a cost incurred by the vendor for assets and services received from the customer, and therefore characterized as a cost or expense? The next significant accounting issue is regarding...
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...Case 13-01 Refer-a-Friend Program “Runway Discount (“Runway” or the “Company”) is a privately held online retailer that sells discounted high-end fashion. In an effort to increase its sales and customer base, Runway implemented a customer referral marketing campaign (the “Refer-a-Friend Program”) whereby existing customers can refer friends to Runway and receive a $25 credit towards the purchase of future merchandise”(Deloitte.com, n.d.). Runway offers a $25 gift card to the customers who refer a friend. The gift card is being sent when the new referred friend makes first purchase. The $25 Referral Credit is recorded in Runway’s Income Statement — as a marketing expense. According to FASB Accounting Standard Codification, 605-50-45-1,“A vendor may give a customer a sales incentive or other consideration addresses the circumstances under which that consideration is either: • a. An adjustment of the selling prices of the vendor’s products or services and therefore characterized as a reduction of revenue when recognized in the vendor’s income statement • b. A cost incurred by the vendor for assets or services received from the customer and therefore characterized as a cost or expense when recognized in the vendor’s income statement” FASB Accounting Standards Codification. (n.d.). Also, According to FASB Accounting Standard Codification, 605- 50-25-3“For a sales incentive offered voluntarily by a vendor and without charge to customers that can be used or that becomes exercisable...
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...most favourite social network. It is huge gap between Facebook and another 9 social network. This probably because every Facebook users can add people as friends and send them message, and update their personal profiles to notify friends about themselves. (Please refers to Appendix 5) 2.What is the main reason in participating with any of the social networking? Based on Figure 2, according to the survey, the main reason uses participating with the social networking is to know the latest news. The reason why 20 of the respondent choose it, is that it is easy to get the latest news through the social network. There are also some users who want to socialize through social network. This proved by the survey in which 17 respondent choose this option as their main reason participating with social network. This is because social networking enables shy people to open up. (Please refer to Appendix 6) 3.What is the most common application used during social networking? Based on Figure 3, 22 out of 50 respondents prefer to chatting during social networking. This is because if chatting by using phone, it will be costly. Therefore, they prefer social networking as the platform of chatting and get in contact with friends. From the survey, only 2 of respondents choose to use forum application during social networking. (Please refer to Appendix7) 4.How often do your usually log in your server? Based on Figure 4, 21 of the respondents pick the option of several times a day and 10 respondents...
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...Case 13-1: Refer-a-Friend Program Runway Discount is an online retailer that sells discounted high-end fashion. The company decided to create the Refer-a-Friend Program where a current customer can refer a friend to the website. Once the new customer purchases merchandise, the existing customer will receive a $25 credit towards their next purchase. The $25 credit represents the fair value of the cost Runway would pay to earn a new customer from an unrelated third party or marketing firm. Runway Discount should record the $25 Referral Credit as a marketing expense. According to 605-50-45-2 of the FASB Accounting Standards Codification, the referral credit should be considered as a cost incurred because it meets both of the following conditions: a. Runway Discount receives an identifiable benefit in exchange for the $25 credit. In addition, the $25 credit is separate from the recipient’s purchase of Runway Discount’s products in such a way that Runway Discount could have entered into an exchange transaction with a third party (marketing firm) that does not purchase its products and still receive the same benefit. b. Runway Discount can reasonably estimate the fair value of the benefit from a referred customer. Runway Discount should record the $25 referral credit when it recognizes the revenue created by the friend that was referred. Section 605-50-25-3 in the Codification states that in regards to sales incentives that will not result in a loss on the sale...
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...Case 13-1: Refer-a-Friend Program Runway Discount is an online retailer that sells discounted high-end fashion. The company decided to create the Refer-a-Friend Program where a current customer can refer a friend to the website. Once the new customer purchases merchandise, the existing customer will receive a $25 credit towards their next purchase. The $25 credit represents the fair value of the cost Runway would pay to earn a new customer from an unrelated third party or marketing firm. Runway Discount should record the $25 Referral Credit as a marketing expense. According to 605-50-45-2 of the FASB Accounting Standards Codification, the referral credit should be considered as a cost incurred because it meets both of the following conditions: a. Runway Discount receives an identifiable benefit in exchange for the $25 credit. In addition, the $25 credit is separate from the recipient’s purchase of Runway Discount’s products in such a way that Runway Discount could have entered into an exchange transaction with a third party (marketing firm) that does not purchase its products and still receive the same benefit. b. Runway Discount can reasonably estimate the fair value of the benefit from a referred customer. Runway Discount should record the $25 referral credit when it recognizes the revenue created by the friend that was referred. Section 605-50-25-3 in the Codification states that in regards to sales incentives that will not result in a loss on the sale of a...
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...1. ¡Que milagro¡: This sentence refers when someone has not been in touch with a friend or a relative and the person encounters the friend or the relative. The sentence shows belonging, due the fact that people will not say this phrase to someone that have just recently met. 2. Malinchista: The word “Malinchista” refers to someone who does not want to be Mexican, or who has betrayed in a way the country. This word enters to the category of picturesque and exclusion, because the word refers to a historic moment during the Mexican conquer plus is a form of excluding someone of being Mexican. 3. Codo: The literal translation of this word is elbow but it has nothing to do with that part of the body. Instead codo refers to someone who is really...
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...care of individuals, families, communities, and populations” (American Nurses Association website, 2015).The metaparadigm theories of nursing is comprised of four parts: person, health, environment, and nursing. Person: The first metaparadigm concept refers to the patient himself or herself and can also refer to the patient’s family member and friends. Nurses should be aware of this and should empower the patient and their family members and friends to help manage the patient’s health as a team. Health: The second metaparadigm concept refers to the patient’s wellness as well as his or her access to healthcare. Nurses should be aware of the patient’s level of wellness or illness as experienced by each patient. Nurses should be aware that the term “health” is a not an absolute term but a relative term. Each patient’s genetic factor, age and emotion are different from the other patient. Environment: The third metaparadigm concept refers to the patient’s environment. Nurses should be aware of the patient’s environment such as the patient’s mental state, geographic location, culture and personal relationships. Nursing: The fourth...
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...Melinda Jones HUM/115 October 11, 2014 Donna Probst Barriers to Critical Thinking Please refer to Chapters 2 & 3 of Critical Thinking in Everyday Life for this assignment. ________________________________________ • Barrier 1: In at least 100 words, describe (1) the first barrier you chose and (2) how you plan to overcome that barrier. Refer to Chapter 3 of Critical Thinking in Everyday Life for strategies for modification of internal barriers & replacement of external barriers. The first barrier that I chose is one of the internal barriers – emotions. Emotions play a huge role in my thinking. For example, I get frustrated very easily when it comes to decision making, mostly because I am naturally an indecisive person. I am also impatient, so when faced with a tough decision that requires a lot of thinking, I get mad. It takes a lot of thinking – critical thinking – on my end to make the best decision. I also suffer from documented anxiety, so I always feel like the pressure is on. Being 28 and suffering from anxiety, I honestly have no idea how to overcome these internal barriers, so I will strive to learn all that I can in this critical thinking course, so that one day I will be able to not let my personal emotions get in the way. • Barrier 2: In at least 100 words, describe (1) the second barrier you chose and (2) how you plan to overcome that barrier. Refer to Chapter 3 of Critical Thinking in Everyday Life for strategies for modification of internal barriers...
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...Hamlet, the main character of the play titled Hamlet by William Shakespeare symbolically holds in his hands the right to the throne as the next in line and the solution to fix Denmark. While speaking to his good friends from that are from a different kingdom, his friend Guildenstern refers to Hamlet as the “honored lord” right before his other friend calls him his “most dear lord”(2.2.240-241). Even though Rosencrantz and Guildenstern are very close friends to Hamlet, they still acknowledge him as “lord” which is a position of power over everyone else. This position of power that Hamlet possesses is sometimes difficult to hold onto as everyone in the Kingdom refers to him as lord and see him as their future leader. Hamlet speaks to his other...
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...Compass Ethics, a branch of philosophy refers to the values for human conduct, considering the rightness and wrongness of actions and motives. As nursing profession is an integral part of the health care environment, the nursing ethics provides the insight to the values and ethical principles governing nursing practice, conduct, and relationships. The Code of Ethics for Nurses, adopted by the American Nurses' Association (ANA) is intended to provide definite standards of practice and conduct that are essential to the ethical discharge of the nurse's responsibility (American Nurses Association, 2012). A nurse cultivates personal ethics through personal, cultural and spiritual values which becomes a moral compass for their professional ethics. Personal ethics in combination with the code of ethics often assist the nurses in personal and social decision making during ethical dilemma. This ability prompts them to better respond to needs of the suffering patient and their own well-being. This paper will discuss the personal, cultural, and spiritual values contributing to nurses’ individual worldview and philosophy of nursing and the moral and ethical dilemma being faced in this profession. Values Contributing to Individual’s Worldview and Philosophy of Nursing Born in a Christian middle class South Indian family, the strict traditional values helped to embed the concept of service, trust, respect, integrity and responsibility through family, friends, education and beliefs. The personal...
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...computers, hiking and fishing. The archetypal artist, writer, sculptor, engineer,composer and inventor are all highly introverted. An introvert is likely to enjoy time spent alone and find less reward in time spent with large groups of people, though he or she may enjoy interactions with close friends. Trust is usually an issue of significance: a virtue of utmost importance to an introvert is choosing a worthy companion. They prefer to concentrate on a single activity at a time and like to observe situations before they participate, especially observed in developing children and adolescents.[6] They are more analytical before speaking.[7] Introverts are easily overwhelmed by too much stimulation from social gatherings and engagement, introversion having even been defined by some in terms of a preference for a quiet, more minimally stimulating environment.[8] Introversion is not seen as being identical to shy or to being a social outcast. Introverts prefer solitary activities over social ones, whereas shy people (who may be extroverts at heart) avoid social encounters out of fear,[9] and the social outcast has little choice in the matter of his or her solitude. Sensing (S) Sensing refers to how people process data. Sensing...
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...Audit Staff From: Ricardo Colon, Audit Partner Date: April 8, 2016 Subject: Audit of Express, Inc. You have been assigned to audit the 2015 year-end financial statements Express, Inc. Mr. Ricardo Colon, audit partner, has questions concerning the accounting for a marketing pogram implemented in 2015 to increase sales. Express, Inc. (“Express” or the “Company”) is a publicly held online retailer that sells discounted high-end fashion. In an effort to increase its sales and customer base, Express implemented a customer referral marketing campaign (the “Refer-a-Friend Program”) whereby existing customers can refer friends to Express and receive a $50 credit towards the purchase of future merchandise. The terms of the program are as follows: Express offers existing customers (the “Existing Customer”) a $50 credit (the “$50 Referral Credit”) if the Existing Customer refers a friend (the “New Customer”) to Express’ Web site and the New Customer purchases merchandise from Express. After a purchase is made by the New Customer, the Existing Customer receives a $50 credit to beapplied to a future purchase from Express. The $50 Referral Credit represents the fair value of the cost Express would pay to acquire a new customer from an unrelated third party or marketing firm who is not a purchaser of its products. The program is open to all of Express’ customers and does not need to be combined with any initial or existing purchases. The main accounting issues regarding...
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..."...accent is used to refer to the breakthrough of native language phonology into the target language." While I agree that accent is generally used to refer to how a person sounds like relative to other speakers with regards to intonation and pronunciation of specific words, I cannot help but notice that the author has neglected choice of words in his definition of an accent. Language is a construct that is heavily influenced and, is in turn influenced, by culture; there is an intimate relationship between language and culture. Examination of various languages will reveal that some words or phrases in a particular language just cannot be translated perfectly into another language; the nuances and connotations are inevitably lost in the process of translation. For example, the French word "dépaysement" means the feeling that arises from not being in one's home country, the feeling of being a foreigner, and this word has no equivalent English translation. Language is a reflection of culture, and the values and practices intrinsic to it. Similarly, English users from different places not only have different intonation and pronunciation, they also utilize different words to mean the same things. In fact, some users of English even have constructed or creolized words to convey a whole wealth of meaning in their communications with other similar users. For example, in Singapore where many locals speak a colloquial English known as Singlish (a portmanteau of Singapore and English),...
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...(2014:4). Question 3 Communication does not take place in a void: but always within a context. Looking at 2: Historical context Social context • Refers to history between participants based on previous communication experiences. • Historical background- refers to the history that you and the other person share. • You expect the encounter to happen in a certain pattern because of what happened in the past. i.e If your friend always laughs at your jokes, you will expect her to laugh when you tell a joke. • If you’ve had a negative experience with someone in the past you’re more likely to be reserved and cold towards them, however you’ll be more friendly and warm towards a person you have a good history with. • Historical context can refer to communication that took place earlier that day or week. i.e If two sisters are looking for an earring during the week. One day after school the one sister asks the other “Did you find it ?” and the other responds “ Yes it was in my shoe” Their parents will not know what “it” refers to, but because of the historical context, the sisters know exactly what they are talking about. • History of a country or group can significantly affect communication. i.e in SA, historical issues between different races provide a context that can make communication between them difficult, • Refers to nature of relationship you have with other participants. • An important aspect is status. You change the way you communicate with people because of...
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...social capital theory of Putnam (2000) in the terms of explaining the forms of social capital. According to Putnam (2000:19), physical capital refers physical objects and human capital refers to the properties of the individuals, social capital refers to connections among individuals, social networks and the norms of reciprocity and trustworthiness arise from them” The strong interaction between people leads to build communities and it knit the social fabric. when social connection and the social wellbeing happens in their primary group it can mention as social bonding (Isham et...
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