...Lighthouse is a provider of location services that routes messages from the ships at the sea to the shipping company’s offices. Lighthouse provide to their customers the devices that must be install in the ship and the services, but clients need sign separately contracts for each of ones. Service contracts generally are for twelve months and are billed monthly. The standards prices are $10,000 per unit device and $300 monthly per service. Devices are made to be exclusively with the Lighthouse services. Customers may cancel the service at any time, but amounts paid related to the devices are non-refundable. According to the FASB, “Revenues are inflows or other enhancements of assets of an entity or settlements of its liabilities (or a combination of both) from delivering or producing goods, rendering services, or other activities that constitute the entity’s ongoing major or central operations”. According to FASB Codification of Accounting Standards a company should not recognize revenue until “it has performed under the terms of the arrangement” and “unless it will indeed receive and retain payment in a form that has value to the company.” This means that the company has to perform the duty that they have agreed to in their contract and will receive a form of payment in return. The performance of the arrangement can be the delivery of goods, providing services, or providing information. Once a company performs the terms of the arrangement, the revenue is deemed as...
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...In the Lighthouse revenue recognition case, there are two alternatives. The first alternative is that the device and service is a single unit of accounting and both should be recognized as the service is provided. The second alternative is that the devices and services represent two separate earnings processes which need to be recognized separately. Alternative 1. According to FASB 605-25-25-5, there are three criteria that need to be met in order for an arrangement with multiple deliverables to be considered separate accounting units. First, the items need to have standalone value to the customer. Second, there needs to be objective and reliable evidence of the fair value of the undelivered items. Third, if the arrangement includes a general right of return relative to the delivered item, delivery or performance of the undelivered item or items is considered probable and substantially in the control of the vendor. According to these terms, the device and service are not separate because they do not have standalone value since the devices are made to be used exclusively with the Lighthouse services and there are no other competitors making devices that work with the Lighthouse services. Therefore the device should be combined with the service and recognized over the service period. Alternative 2. According to FASB 605-10-25-3, revenue should ordinarily be accounted for at the time a transaction is completed, with appropriate provision for uncollectible accounts...
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...The Function of Light in The Glass Menagerie to Emphasize the Importance of Laura Sam Student Course/123 November 1, 2009 Sally Teacher The Function of Light in The Glass Menagerie to Emphasize the Importance of Laura Tennessee Williams explores the sensitivity to light in The Glass Menagerie through explicit statements in the production notes, screen devices, and references to descriptions of characters, especially Laura. The lighting cues as explained by Williams (1945/1999) enhance character and mood, and in practically every scene, Laura dominates the stage even though she has fewer lines. Williams (1945/1999) develops Laura’s character the most through his focus on light. Even though Amanda, Laura’s mother, and Tom, Laura’s brother, have the most lines, Williams’ production notes make it clear in describing Laura that she is the major character: “The light on Laura should be distinct from the others, having a peculiar pristine clarity such as light used in early religious portraits of female saints or madonnas” (p. xxii). One of Williams’ most interesting uses of light is the screen device, or screen image, as explained in his production notes: This device was the use of a screen of which were projected magic-lantern slides bearing images or titles . . . These images and legends, projected from behind, were cast on a section of wall between the front-room and dining-room areas, which should be indistinguishable from the rest when not in use . . . . The...
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...Q3: Characterization in To the Lighthouse is presented in terms of multiple perspectives. Elaborate on this statement demonstrating the influence of this method of presenting on characterization in the novel and significance of the modernist style of writing which emphasizes the alternation between consciousnesses of character. To the Lighthouse is considered as one of Virginia Woolf most famous novels. The story deals with the Ramsay family experiences while staying at their home in Cornwall. In To the Lighthouse novel, the main concern is within Mrs. Ramsay’s thoughts and emotions. The narrator in the novel introduces to us a very different world than the one we’re living in: the world inside somebody else’s head. Woolf chose to write this novel in a very strange and complex way using unfamiliar techniques. This unique technique of writing was achieved with the use of the multiple perspective and the stream of consciousness techniques. Each character in the novel is presented through multiple perspectives. Thus, the readers cannot decide on a single interpretation or agree on the same analysis for each character. Mrs. Ramsay. For example, is a charmingly good woman with good personality, yet she is concerned with the other characters’ lives and ends up interfering in them a lot. She also cares for everybody, considering her own thoughts and ignoring others’, and this is clear when she advises Lily to marry William Banke, an old friend of the Ramsay family. This shows...
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...Top of Form /w EPDw ULLTEw Maximum number of choices allowed is {0}. Points Awarded Points Missed Percentage 30.00 0.00 100% 1. Which statement describes an advantage of networks? A) Networks require decentralized management. B) Isolating network devices decreases costs. C) Isolating network devices allows implementation of the sneakernet file sharing method. D) Networks enable multiple users to share resources. Points Earned: 1.0/1.0 2. Which network model ensures that no computer on the network has more authority than another? A) client/server B) stand alone C) peer-to-peer D) distributed Points Earned: 1.0/1.0 3. A common way of sharing resources on a peer-to-peer network is by modifying the ____ controls using the computer’s operating system. A) file-serving B) file-sharing C) resource-sharing D) resource-monitoring Points Earned: 1.0/1.0 4. A ____ facilitates communication and resource sharing between other computers on the network. A) servlet B) workstation C) personal computer D) server Points Earned: 1.0/1.0 5. ____ networks are the most popular type of network for medium- and large-scale organizations. A) Client/server B) Peer-to-peer C) Stand-alone D) Stationary Points Earned: 1.0/1.0 6. A ____ network is confined to a relatively small space. A) NAN B) MAN C) WAN D) LAN Points Earned: 1.0/1.0 7. Often, separate LANs are interconnected and rely on several ____ running many different applications and managing resources other than data...
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...Feminism in TO THE LIGHTHOUSE…………….pg 4 * Conclusion………………………………………………..pg 11 * Bibliography……………………………………………..pg 12 ABSTRACT: Virginia Woolf is a feminist pioneer and is also a modern socialist master. In her masterpiece To the Lighthouse she uses large number of images to convey her feminist ideas. This Research paper focuses on To the Lighthouse with feminist perspective. How ‘To the Lighthouse’ projects its challenges or realization of productive and creative possibilities of female characters like Mrs. Ramsay, Lily Briscoe, Nancy Ramsay, and other characters who move around these central characters and how these characters are to be studied with the feministic point of view and built as a portrait of real woman in the Victorian England as well as its relevance in the present scenario. Our efforts are to bring out the voice of female characters’ echo in the novel considering these various roles in the novel. INTRODUCTION In the Post-Modern period, the feministic perspective has been much travelled especially in the writing of female authors or poets. The word ‘servitude’ (Fanon) in the feministic reading has been much taken in to consideration. To the Lighthouse, much discussed, debated and criticized like its length of writing in the panorama of Feminism. The writers’ efforts to portray the real woman as far as milieu and moment are concerned, is to challenge patriarchal family and treatment of woman. Reading To the lighthouse strikes researcher’s...
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...goods, providing services, or providing information. Once a company performs the terms of the arrangement, the revenue is deemed as earned; however, at least part of the job must be fulfilled. In addition, the company should not recognize revenue even if their clients paid in advance to fulfillment of the agreement. Revenue is realized or realizable when “the seller receives cash or assets from the customer that is convertible into cash,” (accountingresearchmanager.com) This must occur before revenue is recognized. In the case, “Lighthouse”, the issue of how revenue should recognized for the sales of both Ship Finder devices and service arises. In this particular case, the company Lighthouse created a hardware unit which it installs in ships and provides the services for this unit. This device and service are utilized together in providing information to shipping companies on the ship location, speed, and current local weather. Lighthouse requires its customers to sign two separate contracts, one for the device and one for the service. The device has a fixed price of $10,000 per unit, while the service has a variable rate of $300 per month and per unit (discounts are given based on the number of units purchased). The amount paid for the devices is nonrefundable but the...
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...Identify the issues ASC 605-25 If a vendor does not have vendor-specific objective evidence or thirdparty evidence of selling price for the undelivered elements in an arrangement, the revenue associated with both delivered and undelivered elements are combined into one unit of accounting. Any revenue attributable to the delivered products is then deferred and recognized as the undelivered elements are delivered by the vendor. An Additionally, eliminating the residual method of allocation will improve financial reporting because the relative selling price method spreads any discount in an arrangement across all of the deliverables in that arrangement rather than allocating the entire discount to the delivered items. However, this change will require a vendor to estimate a selling price for delivered items regardless of whether vendor-specific objective evidence or third-party evidence of selling price exists for these items. . 605-25-25-5 In an arrangement with multiple deliverables, the delivered item or items shall be considered a separate unit of accounting if both all of the following criteria are met: a. The delivered item or items have value to the customer on a standalone basis. The item or items have value on a standalone basis if they are sold separately by any vendor or the customer could resell the delivered item(s) on a standalone basis. In the context of a customer’s ability to resell the delivered item(s), this criterion does not require...
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...The Lighthouse Strategy is an interdisciplinary rehabilitation team method to enhance attention in visual hemi-spatial deficits. The strategy combines different aspects of cognitive-behavioral and visual imagery interventions to perform route-finding tasks and ADLs. A case study involving a 65-year-old woman (M.M.) following a right parietal hemorrhage confirmed short-term success of the Lighthouse Strategy. M.M. experienced left side weakness in both upper and lower extremities and left hemi-spatial inattention affecting her daily routine. During her first therapeutic treatment session she performed the Mesulam Verbal Cancellation Test, where she was instructed to circle or mark the letter A within a document of mixed letters. She missed...
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...During one of my previous service experiences at the Lighthouse of Hope, I got the chance to see how they prepare for the sizable food drives which they have every other Saturday. These preparations often started off early in the morning. In the morning, volunteers would arrive to help set up two tables to help transport the boxes of food we would be receiving. Next, is the waiting game, we waited for the truck to deliver the food. Once the truck came, and the driver unloaded the food, the volunteers had the job of taking the large boxes of food and placing them in the appropriate places. To start, one volunteer would grab a box knife and cutoff all the plastic wrap that held the boxes together. Next, we would grab boxes one by one and put...
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...Case Studies: Case 04-7 – Lighthouse * Lighthouse is a provider of locating services to the shipping industry. Lighthouse’s Ship Finder service is a one-way messaging service that routes messages from the ships at sea to the shipping company’s offices. These messages provide the shipping company with detailed information related to ship location, speed, and current local weather. In order to utilize the Ship Finder service, Lighthouse must install a dedicated hardware unit or device on the ship. Customers generally sign two separate contracts, one governing the sale of the devices and the other governing the provision of the service. Once the devices are installed (one per ship), Lighthouse will connect the device to its service. Service contracts generally are for 12 months and are billed on a monthly basis. The services are priced at standard rates, although discounts are offered depending on the number of devices sold. The devices also have been sold at a discount. However, the discount is based on the number of units purchased (or to be purchased) and does not appear to be unreasonable. Standard pricing for the devices and service are as follows: Product or Service Price Ship Finder Device $10,000 per unit, MSRP Ship Finder Service $300 per month, per unit The Lighthouse devices are made to be used exclusively with the Lighthouse services and, currently, there are no other competitors making devices that work with the Lighthouse services. Customers may cancel...
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...Case 04-7: Lighthouse I. Summary The Lighthouse Company is dedicated to offer services to marine or shipping companies. Their services are based on the tracking and location of the boats of their clients. In order to offer the service, Lighthouse must install an equipment of tracking boats which will have a cost of sale of $10.000,00 dollars, no reimbursable and a tracking system with a monthly cost of sale of $300,00 dollars. This way their clients will continuously receive the data on the location and routes of their boats. The clients must accept this service by means of two contracts. One that stipulates the purchase of the tracking equipment and other that stipulates the monthly fee by the tracking service, usually with duration of a year. Both contracts could have a discount, depending on the amount of services and equipment that is acquired. Lighthouse is the only producer of the tracking equipment and it does not have competitors in the present market compatible with its service. Another factor is that the clients could cancel their services at any time. II. Issue Several factors as services and sale of equipment based on GAAP, entrances of accounting, mercantile right are due to consider. • How are due to recognize the sales and income of Lighthouse, like sale equipment or sale service? • Is the tracking equipment independent of the service? • Is due to consider the income of Lighthouse like a hybrid between equipment and service, like a single...
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...Case Study – 2 LightHouse How should revenue be recognized for sales of both the ship finder devices and service? EITF 00-21 states “that in arrangements for multiple deliverables, the delivered item(s) should be considered a separate unit of accounting if all of the following criteria are met: The delivered item(s) has value to the customer on a standalone basis (i.e., it is sold separately by any vendor or the customer could resell the deliverable on a standalone basis) There is objective and reliable evidence of the fair value of the undelivered item(s) If the arrangement includes a general right of return, delivery or performance of the undelivered item(s) is considered probable and substantially in the control of the vendor”. In this case it says that lighthouse devices are made to be exclusively with the light house services and there are no other competitors making devices that work with the Lighthouse services. Therefore even if the customer cancels the service at any time the device does not have value to the customer on a stand alone basis therefore revenue can not be recognized by the arrangement with multiple deliverables. According to SAB no, 104 to recognize revenue “Persuasive evidence of an arrangement exists, Delivery has occurred or services have been rendered, the seller's price to the buyer is fixed or determinable and Collectability is reasonably assured”. So the revenue for the Ship Finder Device can be recognized after the completion of the...
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...The Chicago Lighthouse From humble beginnings, Chicago Lighthouse evolved into one of America's most comprehensive social service agencies. (Chicagolighthouse.org)The first year anniversary of the Illinois Tollway Customer Service Call Center which now employs over 300 people, more than half of whom are blind, visually impaired, multi-disabled or Veterans. (Chicagolighthouse.org)The president of Chicago lighthouse has a cousin and She is one of the few people who can read and write Braille music.(nfb.org) Of the many staff at the Lighthouse, which numbers 219 people, over half, 51 percent, are blind or visually impaired. This percentage increases to 60 percent if you consider those staff members who have a family member who’s blind or visually...
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...I. Succinct The case present a company named Lighthouse that it business specializes as a provider of locating services for the shipping industry. The services comprise of a one-way messaging service that routes messages from the ships at sea to the shipping company’s offices. The messages provide the shipping company detailed information regarding to ship location, speed and current local weather. The way the system works for gathering the ships data is, by installing a device as a dedicated hardware unit in the ships that serves as tracing device in which Lighthouse rendered the services, Lighthouse will connect the device to its service. Before the Ship Finder service can put in place the company required to customers sign two contracts, one for the sale of the devices and the other governing the provision of the service. The service contracts generally have duration twelve months and are billed monthly, customer may terminate the services at any time but the amounts paid for the devices are nonrefundable. The Lighthouse devices are made to be used exclusively with the Lighthouse services, the standard pricing for the Ship Finder Device are $10,000 per unit (MSRP) and for the Ship Finder Service are $300 a fixed monthly payments per unit. Payments for the devices are due upon completion of the installation and final acceptance by the customer. The services are priced at standard rates although discounts are offered; depending on the number of devices sold...
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