Premium Essay

Coconut Telegraph

In: Business and Management

Submitted By mej2x
Words 438
Pages 2
Maria Jarvio
Coconut case

1) According to standard 935-605-15-04 one of the criteria that this subtopic does not apply is “software components of tangible products that are sold, licensed, or leased with tangible products when the software components and nonsoftware components of the tangible product function together to deliver the tangible product’s essential functionality.” This is the case with the Volcano system. Which must be sold with the software since it is necessary for the Volcano system to function as intended. Therefore this scope does not apply to this situation.

2) According to standard 25-60-04 says that any separate unit of accounting in an arrangement is required to be recorded at fair value and the amount allocated to that unit of accounting shall be its fair value. Each unit of accounting shall be recorded in a straight line basis.

Volcano system: 12,000/14,000*12,000=10,286
One year PCS: 2,000/14,000*12,000=1,714 12,000
2 months
DR deferred revenue 286
CR revenue 286

Revenue recognized for product: (10,286) deferred revenue April 30, 2012: 1,429
Revenue recognized for PCS: (286) (1,714-286)
Total 10,571

3) According to section 935-605-55-4. These arrangements should be classified as one multiple element arrangement. This section gives factors that might indicate the contract should be classified this way. These are:
a) Contracts are negotiated within a short timeframe of each other
b) Elements are closely interrelated or interdependent in terms or design, technology or function
c) The fee for one or more contracts or agreements is subject to refund, forfeiture, or other concession if another contract is not completed satisfactorily
d) One or more elements in one contract or agreement are essential to the functionality of an element in another contract or...

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