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Topic: Business
Number of pages / Number of words: 3 / 764
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However, if the value can be determined and the firm has received income from a similar transaction within the last 6 months then the fair value of the transaction should be recorded. In addition, a disclaimer of the percentage the transaction holds in revenue should be disclosed in the notes section ...


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As a FASB member I would advise the company not to record the $5.5 million worth of advertisement arrangements because there is no actual cash revenue generated from the transaction. If the exchange is both of equal value of there is ultimately no affect on the income statement and therefore nothing would be recorded...


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General points of the essay

Canadian Income Tax I E-Business Basics - Transaction Costs Income Smoothing Income Tax Law Research Income Tax Reporting Income for Dot-coms Transaction Cost Analysis Transaction Cost Economics Transaction Cost Theory Describing and Analyzing a Transaction National Income income Income Gap E-Commerce: Who Bears The Risk Of Fraud In A Banking Transaction TPS - A Transaction Processing System

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