S&H Green Stamps

Another point the USPS should take into consideration when restructuring, is that it is too easy for most Americans nowadays to forget the significance of a hand written letter or card, when we can communicate within seconds through technology. Come to think of it, I remember running to the mailbox in excitement every November to collect a special, pink birthday card from my grandma with her messy cursive scrawled across the envelope. Now, my “special” birthday wishes are in a 30 second voicemail she leaves from her cell phone every year. The USPS must remind us of the significant difference it can make in communication by recapturing its emotional importance through advertising.

Recognition is the process for formally recording or incorporating an item in the financial statements of an entity as an asset, liability, revenue, expense, or the like. Recognition consist both initial recognition of an item and the subsequent changes in or the removal of a previously recognized item. The criteria in this statement is derived from the previous concept statements 2 and statement 3. For an item to be recognized, it should meet four fundamental recognition criteria. The four fundamental criteria are definition, measurability, relevance, and reliability. All four criteria are subject to a cost benefit constraint and a materiality threshold. The expected benefits from recognizing an item should justify the perceived cost of providing and using the information. Furthermore, an item and the information about it do not need to be recognized in financial statements if the item is not large enough to be material and the aggregate of individually immaterial items is not large enough to material to those financial statements. It is noted that the fundamental criteria apply to all recognition descisions.

The conditions for this alternative are very similar to alternative #2 in the aspect that the only thing that has changed is the condition for the collectability. If we decide to recognize the partial revenue of $15,000 on October 4, 2015, when the customer pays the remaining $15,000, collectability is assured 100 percent because all the payment has been paid. In

This control is directly related to the accuracy transaction-related audit objective for sales. The auditor might test the effectiveness of this control by examining a sample of duplicate sales invoices for the clerk’s initials indicating that the unit selling price was verified.

5. No because the amount of the invoice fluctuates for the same product in this type of scheme and therefore it would be difficult to figure out how much the invoice should have been made out for.

In Daniel Stone’s editorial article, “Flying Like an Eagle”, he advises the USPS some guidance to boost up their profit and their usage to the community. One of his inputs on the

Significance: This forces the states to comply to the government’s regulation if they want money.

In order to raise revenue, the British Parliament passed legislation of the Stamp Act in 1765. The Stamp Act enforced purchasing tax stamps to buy paper. As a result of this legislation, the colonists were outraged. This new policy was very unwelcomed because it neglected the “Salutary Neglect” Act in which colonial taxes weren’t collected by the English. The book, America: A Narrative History, states that the

Due to the rising popularity of email and the easiness of scanning documents, less and less mail is being sent every year and because of competitors like FedEx and UPS the United States Postal Service (USPS) is having financial problems. All over the world there has been sweeping postal reform. New Zealand moved to three day mail delivery, Canada eliminated home delivery in cities, and the United Kingdom recently privatized their mail system. The United States Postal office has been losing money and reported a loss of $15.9 billion dollars in 2012. The USPS has been increasing stamp prices to make up for this financial loss, most recently increasing stamp prices from forty-four cents to forty-five. With congressing blocking the latest USPS

The Postal Service has existed for more than two centuries. Millions of letters, birthday cards, Christmas cards, wedding

"The United States Postal Service and the National Rural Letter Carriers’ Association are time honored institutions that provide a “post office on wheels” to the American public on a day‐to‐day basis. With the first rural delivery established in 1896, a century of evolution has changed the rural carrier position to what it is today. (NRLCA)

* To determine who will pay tax, the individual (self employed or sub contracting) or the organisation (contracted, PAYE).

“...if the amount of future rebates or refunds cannot be reasonably and reliably estimated, a liability (or deferred revenue) shall be recognized for the maximum potential

Services of the USPS are to provide reliable, prompt efficient postal services in all communities and areas to patrons throughout the United States. Products are stamp purchases to send mail in person and online; purchasing postage, printing postage paid shipping labels through the technology of Click-N-Ship, add to Philatelic stamp collections, merchandise gifts, mailing products such as flat envelopes, and boxes. Shipping supplies, ecofriendly packaging, bulk media mail, money orders, passport application.

The Company records deferred revenue when it receives payments in advance of the delivery of products or the performance of services. This includes amounts that have been deferred related to embedded unspecified and specified software upgrades rights. The Company sells gift cards and records deferred revenue upon the sale of the card, which is relieved upon redemption of the card by the customer. Revenue from AppleCare service and support contracts is deferred and recognized ratably over the service coverage periods.