negative terms and will consider this contract a standard template in franchise agreements. A predominate disadvantage is obviously the monthly percentage in sales you will be losing in paying royalty fees. In our example, Big Boy Corporation royalty fees are 5% of gross sales; to put that in better perspective our Big Boy paid just over $45,000 in royalties this past year. Gross sales are a total of all profits, even including vending/gumball machines or on sale items. In signing a franchisee agreement
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Traditional VS Islamic Financial Derivatives To: Prof. Naser Abu Mustafa By: Mwaffaq Al Jayousi & Mohammad Al Shdooh Abstract This study focuses the light on defining financial derivatives and briefly describe their different types (Options, Forwards, Futures, Swaps, etc.). At the same time it tries to find if these financial derivatives exists in the Arab world, how they are implemented, and if we have an Islamic alternatives for them. Introduction There is a big debate in the Arab
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LAW 421 Final Exam Latest 1. When a buyer rejects nonconforming goods and purchases the appropriate goods from a different seller, this is an example of which of the following: • Specific Performance • Revoking Acceptance • Lawsuit for Money Damages • Cover 2. Which of the following would be considered intangible property? • Hydrocarbons • Pharmaceuticals • A right of ownership or possession • An apartment 3. Upon her return home from work, Maria discovered that her lawn has been
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MARKETING OF INSURANCE SERVICES AGENCY APPROACH In recent times the insurance business has been based on agency representation and relationship. The agent represents the principal in the sale of insurance policies and in forcing a contractual relationship between the principal and the client. According to Nwachukwu (1991), the following criteria will be considered in agency creation 1) The creation of agency. The relationship can be formulated either through written or oral communication or
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Accounting Policies Valuation of Inventories Cash Flow Statements Contingencies and Events Occurring After the Balance Sheet Date Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Depreciation Accounting Construction Contracts Accounting for Research and Development (Not Applicable now) Revenue Recognition Accounting for Fixed Assets Accounting for the Effects of Changes in Foreign Exchange Rates Accounting for Government Grants Accounting for Investments Accounting for
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staff's views in applying generally accepted accounting principles to revenue recognition in financial statements. The staff is providing this guidance due, in part, to the large number of revenue recognition issues that registrants encounter. For example, a March 1999 report entitled Fraudulent Financial Reporting: 1987-1997 An Analysis of U. S. Public Companies, sponsored by the Committee of Sponsoring Organizations (COSO) of the Treadway Commission, indicated that over half of financial reporting
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that suppliers grant long terms of payments on goods that they delivered to their customers. There are privilege specially to the customers who will purchase more goods on them, it is also a competition to those manufacturing company which have the same product. Long terms of payment on goods delivered can be a device to increase the volume of sales of the manufacturing company. TRADE ACCEPTANCE “A written order for a sum of money originating with a creditor and naming a debtor, customarily forwarded
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Case Now OTHER USERS If you would like to read the full document, click on “Buy Case Now” to be redirected to the Darden Business Publishing Web site where you can purchase this and other Darden cases. If you have any questions or need technical help, please contact Darden Business Publishing at 1-800-246-3367 or email sales@dardenbusinesspublishing.com Document Id 0000-1402-5981-000059FA The protectedpdf technology is © Copyright 2006 Vitrium Systems Inc. All Rights Reserved. Patents
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As we have learnt earlier, estoppel arises when a person by his/her words or conduct makes another person believe that certain affairs existed. He/she later on not allowed to deny that such a state of affairs did not exist. Applying this rule to a contract of goods act, where the true owner of the goods by his act or omission leads an innocent buyer to believe that the seller has the authority to sell, later on he may be estoppel from denying the seller’s authority to sell. Section 27 concludes with
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principle: 1. Identify the contract with a customer. 2. Identify the performance obligation(s) in the contract. 3. Determine the transaction price. 4. Allocate the transaction price to each performance obligation. 5. Recognize revenue when (or as) each performance obligation is satisfied. D. Key considerations for each of the five steps that we will learn about: 1. A contract establishes the legal rights and obligations of the seller and the customer. 2. Contracts can indicate that the seller
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