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Join the Fun at the Game Show: Guess The Commission with Eugene!

Welcome to the exciting new game show “Guess The Commission!” hosted by Eugene from Accounting, where you can test your knowledge on revenue recognition in a fun and engaging way. In this episode, you will tackle challenging scenarios about commission calculations for software and maintenance sales. With rewarding points for correct answers, this game is perfect for salespeople eager to enhance their understanding of accounting principles. Join us for a unique learning experience filled with laughter and knowledge!

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Join the Fun at the Game Show: Guess The Commission with Eugene!

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Presentation Transcript

  1. Welcome to the newest Game Show Guess The Commission! Featuring your host Eugene from Accounting Brought to you by: SOP 97-2, 98-9 81-1, and SAB 101/ SAB 104/ SAB 104

  2. QUESTION #1 10 Points • On December 1st, your customer buys • $1000 of software • $240 annual maintenance • Your commission rate is 10%. • How much December commission are you due on this sale?

  3. Answer #1 10 Points $102 $1000 X 10% = $100 plus *240/12 X 10% = $2 * Maintenance and support fees are recognized pro-rata over the term of this one year agreement, so only 1/12 of the total is commissionable in the current month.

  4. QUESTION #2 20 Points • On September 1st at 8:00am, your customer buys • $1000 of software • $240 annual maintenance • You date the invoice August 31st. • Your commission rate is 10%. • How much August commission are you due on this sale?

  5. Answer #2 20 Points 25976* *Actually, this is NOT your commission. This is your inmate # at the federal penitentiary. If you are lucky, you might be in the cell next to Bernie Ebbers from World Com.

  6. QUESTION #3 10 Points On December 1st, your customer pays $1240 for software and maintenance combined. Your commission is 10%. How much December commission are you due on this sale?

  7. Answer #3 10 Points $102.00 This transaction will have to be broken into its components so it will be treated exactly like Question one. $1000 X 10% = $100 plus *240/12 X 10% = $2 *Maintenance fees are still recognized pro-rata over the one-year term so only 1/12 of the total is commissionable in the current month.

  8. Now you have the idea… This is an example of a presentation concept that an accountant could use to teach salespeople about revenue recognition. It is NOT intended to be representative of good graphic design. Contact me for more ways to improve your presentation or to deliver a custom presentation. geni@evenanerd.com

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