Download Free FBA15 real questions and dumps questions Foundation Certificate in Business Analysis exam is entirely easy with FBA15 real questions. All it needs to register on killexams website, choose the FBA15 exam from list and apply. There is a tiny amount for that. Download FBA15 free pdf and Test Prep. Read and memorize FBA15 cheat sheets from PDF file. Practice with VCE software and face the actual FBA15 test. That is all.

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Wed, 09 Sep 2020 08:01:00 -0500 en-US text/html
Killexams : Understanding Single Line Drawing No result found, try new keyword!CPD units can be used towards professional development requirements at your company as well as for professional memberships like: IET, IMechE, EI, IED, and BCS, The Chartered Institute ... by the ... Wed, 09 Sep 2020 08:01:00 -0500 en-US text/html Killexams : ESOFT - Sri Lanka's only Accredited course provider for BCS

ESOFT Computer Studies (Pvt) Ltd has obtained the highest possible recognition by being Accredited by the BCS for all three levels of the Programmes. This is indeed a unique achievement as no other organization in the world can claim such a feat.

BCS accredited course providers have not only made a commitment to a BCS code of practice but have also been assessed by BCS examiners.

With the influx of new students after having completed their A/L examinations, students should choose wisely before making a commitment. Do not be fooled by the claims that are being made by some local institutes, or the discounted course fees that they are advertising. The bottom line should be the commitment to quality delivery of course content and the best preparation of the student for the professional examinations.

ESOFT has more than 10 years of experience in preparing students for the BCS examinations and our students have claimed many Sri Lankan and World prizes along the way. At the last Graduation Ceremony, our students stole the show by winning all of the awards that were on offer including Sri Lankan Prizes and World Prizes as well.

Our academic panel is well qualified, experienced, and dedicated to the task at hand. One of the main reasons for our success is the perfect blend of full-time and visiting Lecturers that we utilize, thereby allowing us to incorporate vital practical experience into the lessons.

We offer the BCS Higher Education Qualification (HEQ) as a full-time Degree programme under the designation of BCS-Plus. The course is conducted full-time, on all weekdays and covers the BCS subjects as well as additional modules including SCJP, MCTS, CCNA, Web Designing, Hardware and Networking, and more. The exams can be completed in 18 to 20 months and thereby provides a fast track to gainful employment or entrance into a Master's Programme such as an M.Sc or MBA.

The course fee for the entire duration is only Rs. 299,000 and as an added incentive, students that make a full payment are provided with a brand new Laptop Computer to help them in their studies. When most foreign Degrees are being offered at a million rupees or more, this is truly an affordable and cost effective option to get you where you want to be.

A less demanding version of this programme is also available in part time mode. The 10th Annual Graduation Ceremony of the BCS (Chartered Institute for IT) was held on November 1 2009 at the BMICH with the participation of over 500 Awardees and their parents and well wishers.

Among the awardees were 193 graduates that completed the BCS Professional Graduate Diploma (PGD) Level thereby gaining a qualification that is equivalent to a UK Honours Degree. This thereby enables them to proceed to a Master's Level qualification and also gain fruitful employment, in a minimum amount of time, at a fraction of the cost of a standard UK Degree Programme. This is one of the main reasons as to why the BCS Higher Education Qualifications (HEQ), formerly known as the Professional Qualifications attracts a large number of professionals from the industry, as well as new recruits directly after leaving secondary school.

One of the secrets behind the great performances at ESOFT is the fact that ESOFT is Sri Lanka's only Accredited Course Provider. Registered course providers (entry-level) are committed to a code of practice which requires them to ensure that students are treated fairly and are properly informed about the examinations.

Accredited course providers (higher level) have become registered and then had their course provision successfully assessed by BCS examiners. The BCS Higher Education Qualifications (HEQ) are a popular choice due to the following reasons:

1. BCS HEQ is the fastest path to obtain a UK Degree Level Qualification - namely, the three levels of the qualification can be completed within 18 to 20 months which is half of the time that you would invest in a Degree Programme.

2. ESOFT offers the BCS (HEQ) course in Colombo, Kandy, Kurunegala, Galle, Matara, and Negombo. We recently expanded into the North and the East thereby making the course available in Jaffna and Batticaloa as well.

3. BCS (HEQ) is the most economical option - the total investment including course fees, textbooks, examination fees is approximately Rs. 225,000 (if done on a part time basis) 4. The Qualification is modular and students can choose the order in which they complete it. Some students do either the Certificate and Diploma levels in one sitting or the Diploma and PGD levels in one sitting, thereby reducing the time to complete the entire programme.

5. There are two examination sittings per year - April and October. This considerably enhances your opportunity to complete the qualification at your earliest. 6. Classes at ESOFT are held in part time mode on weekends either only on Saturday and only on Sunday, and also on weekdays in the evenings after 5.45 pm. Full-time classes are also available for those that would like to receive additional value through our popular BCS Plus programme.

7. At any given time, we have ten or more batches of the BCS Certificate Level classes, and three or more batches for the Diploma and PGD levels, thereby increasing your chances of finding a class that matches your schedule. Students are given the flexibility of choosing their classes / subjects from different batches to suit their busy schedules.

8. We have established links with Institutions in UK thereby allowing a student that completes the BCS Diploma level here with us to proceed to UK to complete the final year of a B.Sc (Hons) Degree in Computing at an affordable fee.

9. Students that complete the BCS Diploma also have the option of joining various UK Top-Up Degree Programme offered in Sri Lanka and completing their B.Sc (Hons) Degree in just one more academic year.

BCS is currently going through a metamorphosis as it has aligned itself as the Chartered Institute for IT (CIIT) thereby paving the pathway for Professional members to attain Chartered Status. With the full implementation of this change-over, BCS HEQ will undoubtedly gain more prominence and more recognition in the ICT industry both nationally and internationally. Many leading organizations in Sri Lanka already provide lucrative employment to BCS qualified professionals, and academic organizations such as Sri Lankan Universities are accepting the BCS qualification as an entry qualification into their Master's Degrees.

Industry analysts point out that this is one of the main reasons behind the current trend of students who are enrolled in other Degree programmes taking up BCS HEQ in parallel, thereby gaining double qualifications for themselves. There is also a tendency for students to complete upto the Diploma level of the BCS HEQ, and then switch over to the final (3rd) year of a UK Honours Degree either here in Sri Lanka or in the UK itself. This makes practical sense as the BCS Diploma can be completed in less than twelve months thereby saving more than a year of your time, along with a considerable amount of money as well.

Students and professionals that wish to obtain more information about the contents of this article, or about the Course Provider are invited to visit, or call on 0117 555 545 to talk to our specially trained Student Counsellors on how best you can leverage this qualification to suit your requirements. You can also obtain more information by visiting

Sun, 13 Nov 2011 19:45:00 -0600 text/html

The MarketWatch News Department was not involved in the creation of this content.


The following Management Discussion and Analysis (MD&A) is intended to help the reader understand our results of operations and financial condition. This MD&A is provided as a supplement to, and should be read in conjunction with, our consolidated financial statements and the accompanying notes to the consolidated financial statements (Notes).

Our fiscal year ends on April 30. Fiscal years 2022 and 2021 consisted of 52 weeks and ended on April 30, 2022 and April 30, 2021, respectively. All references to years in this MD&A represent fiscal years unless otherwise noted.

Management Overview

Management is focused on increasing long-term shareholder value from increased cash generation, earnings growth, and prudently managing capital expenditures. We plan to do this by continuing to drive increased revenues from product and service innovations, strategic acquisitions, and targeted marketing programs.

We have two separate reporting segments: Aerospace Products and Professional Services. Aerospace Products and Professional Services do not share the same customers and suppliers and have substantially distinct businesses. The Aerospace Products operating segment provides products and services in the aerospace industry. Companies in Aerospace Products derive their revenue from system design, engineering, manufacturing, integration, installation, repairing, overhauling, servicing and distribution of aerostructures, avionics, aircraft components, accessories, subassemblies and systems. The Professional Services operating segment provides services in the gaming industry. Professional Services companies manage a gaming and entertainment facility and provide architectural and engineering services. These reporting segments operate through various subsidiaries and affiliates listed on Exhibit 21 to this Form 10-K.

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COVID-19 Overview:

The pandemic caused by COVID-19 has caused volatility in world-wide financial markets since 2020, primarily due to uncertainty with respect to the severity and duration of the pandemic. Although many experts believe the pandemic has ended in 2022, the threat of outbreaks and new variations of the virus continue to affect operations and finances of businesses like ours.

We have experienced lower customer headcount, which has been off-set by a larger net revenue per customer. We are experiencing, and expect to continue experiencing, lower demand for our professional services and increased costs and other challenges related to COVID-19 that adversely affects our business.

The COVID-19 pandemic has impacted our business operations and financial results and continues to impact us in fiscal 2022. We face numerous uncertainties in estimating the direct and indirect effects on our present and future business operations, financial condition, results of operations, and liquidity. Due to several rapidly changing variables related to the COVID-19 pandemic, we cannot reasonably estimate future economic trends and the timing of when stability will return. Refer to Item 1A. "Risk Factors" for a disclosure of risk factors related to COVID-19.

As the economy in general slowly recovers, and vaccinations rates in our operating territory Boost and new infections decline, we have continued to see improvements in customer headcount. However, the unpredictable nature of the pandemic could again lead to closures, decreased traffic and demand, and increased COVID-19- related operating expenses, for the foreseeable future. While COVID-19 has resulted in, and will continue to bring, significant challenges and uncertainty to our operating environment, we believe that our resilient business model and the strength of our brand and balance sheet position us well to emerge from the pandemic.

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Results Overview

Our fiscal 2022 revenue increased 20% to $73.5 million compared to $61.5 million in fiscal 2021. In fiscal 2022 the Professional Services revenue increased 30%. There was an increase of 10% in the Aerospace Products revenue in fiscal 2022.

Our fiscal 2022 net income was $12.2 million compared to net income of $2.5 million in fiscal 2021. Earnings per share was $0.14 for fiscal 2022 compared to $0.02 in fiscal 2021. We continue focusing on our margin expansion initiatives, including efficiencies in our implementation and operational processes and controlling general and administrative expenses. The fiscal 2022 operating income was $16.1 million, an increase from $5.9 million in fiscal 2021.


Fiscal 2022 compared to Fiscal 2021

                                               Percent of                         Percent of        Percent Change
(dollars in thousands)           2022         Total Revenue         2021         Total Revenue         2021-2022
Professional Services         $   39,147                  53 %   $   30,205                  49 %                30 %
Aerospace Products                34,326                  47 %       31,275                  51 %                10 %
Total revenues                    73,473                 100 %       61,480                 100 %                20 %
Costs and expenses:
Cost of professional
services                          15,798                  21 %       14,214                  23 %                11 %
Cost of aerospace products        22,434                  30 %       23,293                  38 %                -4 %
Marketing and advertising          5,236                   7 %        3,752                   6 %                40 %
Employee benefits                  2,573                   4 %        2,571                   4 %                 0 %
Depreciation and
amortization                       2,815                   4 %        3,542                   6 %               -21 %
General, administrative and
other                              8,488                  12 %        8,208                  13 %                 3 %
Total costs and expenses          57,344                  78 %       55,580                  90 %                 3 %
Operating income              $   16,129                  22 %   $    5,900                  10 %               173 %


Revenue increased to $73.5 million in fiscal 2022, compared to $61.5 million in fiscal 2021. See "Operations by Segment" below for a discussion of the primary reasons for the increase in revenue.

Professional Services derives its revenue from (a) professional management services in the gaming industry through Butler National Service Corporation ("BNSC") and BHCMC, LLC ("BHCMC"), and (b) professional architectural, engineering and management support services through BCS Design, Inc. ("BCS"). Revenue from Professional Services increased 30% to $39.1 million in fiscal 2022 compared to $30.2 million in fiscal 2021. We increased our marketing effort into an expanded market area. We believe this resulted in an increase in patron visits and an increase in the average spend per visit.

Aerospace Products derives its revenue by designing, engineering, manufacturing, installing, servicing and repairing products for classic and current production aircraft. Aerospace Products revenue increased 10% to $34.3 million in fiscal 2022 compared to $31.3 million in fiscal 2021. The increase in revenue is primarily due to an increase in aircraft avionics and special mission electronics business of $3.4 million and a decrease in aircraft modification business of $351.

Costs and expenses:

Costs and expenses related to Professional Services and Aerospace Products include the cost of engineering, labor, materials, equipment utilization, control systems, security and occupancy.

Costs and expenses increased 3% in fiscal 2022 to $57.3 million compared to $55.6 million in fiscal 2021. Costs and expenses were 78% of total revenue in fiscal 2022, compared to 90% of total revenue in fiscal 2021.

Marketing and advertising expenses as a percent of total revenue was 7% in fiscal 2022, as compared to 6% in fiscal 2021. These expenses increased 40% to $5.2 million in fiscal 2022, from $3.8 million in fiscal 2021. Marketing and advertising expenses include advertising, sales and marketing labor, gaming development costs, and casino and product promotions. The increase is primarily due to increasing our marketing efforts into an expanded market area.

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Employee benefits expenses as a percent of total revenue was 4% in fiscal 2022, compared to 4% in fiscal 2021. These expenses remained constant at $2.6 million in fiscal 2022 and fiscal 2021. These expenses include the employers' share of all federal, state and local taxes, paid time off for vacation, holidays and illness, employee health and life insurance programs and employer matching contributions to retirement plans.

Depreciation and amortization as a percent of total revenue was 4% in fiscal 2022, compared to 6% in fiscal 2021. These expenses decreased to $2.8 million in fiscal 2022, from $3.5 million in fiscal 2021. These expenses include depreciation related to owned assets being depreciated over various useful lives and amortization of intangible items including the Kansas privilege fee related to the Boot Hill Casino being expensed over the term of the gaming contract with the State of Kansas. BHCMC, LLC depreciation and amortization expense for fiscal 2022 was $2.3 million compared to $3.1 million in fiscal 2021.

General, administrative and other expenses as a percent of total revenue was 12% in fiscal 2022, compared to 13% in fiscal 2021. These expenses increased 3% to $8.5 million in fiscal 2022, from $8.2 million in fiscal 2021.

Other income (expense):

Interest and other income (expense) were ($613) in fiscal 2022 compared with interest and other income (expense) of ($3.1)million in fiscal 2021, a decrease of $2,518, from fiscal 2021 to fiscal 2022. The decrease is due primarily to the forgiveness of the Paycheck Protection Program loan of $2.0 million from the Small Business Administration, a gain on the sale of an airplane of $75, and a reduction of interest of $449.

Operations by Segment

We have two operating segments, Professional Services and Aerospace Products. The Professional Services segment includes revenue contributions and expenditures associated with casino management services and professional architectural, engineering and management support services. Aerospace Products derives its revenue by designing, engineering, manufacturing, installing, servicing and repairing products for classic and current production aircraft.

The following table presents a summary of our operating segment information for fiscal years 2022 and 2021:

                                               Percent of                        Percent of        Percent Change
(dollars in thousands)           2022           Revenue            2021           Revenue             2021-2022
Professional Services
Boot Hill Casino              $   38,769                 99 %   $   29,951                 99 %                  29 %
Services                             378                  1 %          254                  1 %                  49 %
Revenue                           39,147                100 %       30,205                100 %                  30 %
Costs of Professional
Services                          15,798                 41 %       14,214                 47 %                  11 %
Expenses                          13,378                 34 %       10,945                 36 %                  22 %
Total costs and expenses          29,176                 75 %       25,159                 83 %                  16 %
Professional Services
operating income before
noncontrolling interest in
BHCMC, LLC                    $    9,971                 25 %   $    5,046                 17 %                  98 %
                                               Percent of                        Percent of       Percent Change
(dollars in thousands)           2022           Revenue            2021           Revenue            2021-2022
Aerospace Products
Revenue                       $   34,326                100 %   $   31,275                100 %                10 %
Costs of Aerospace Products       22,434                 65 %       23,293                 74 %                -4 %
Expenses                           5,734                 17 %        7,128                 23 %               -20 %
Total costs and expenses          28,168                 82 %       30,421                 97 %                -7 %
Aerospace Products
operating income              $    6,158                 18 %   $      854                  3 %               621 %

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Professional Services

? Revenue from Professional Services increased 30% to $39.1 million in fiscal 2022 from $30.2 million in fiscal 2021. We increased our marketing effort into an expanded market area. We believe this resulted in an increase in patron visits and an increase in the average spend per visit.

In fiscal 2022 Boot Hill Casino received gross receipts for the State of Kansas of $50.2 million compared to $39.3 million in fiscal 2021. Mandated fees, taxes and distributions reduced gross receipts by $15.8 million resulting in gaming revenue of $34.4 million in fiscal 2022 compared to $26.8 million in fiscal 2021, an increase of 28%. Non-gaming revenue at Boot Hill Casino was $4.4 million in fiscal 2022 compared to $3.1 million in fiscal 2021.

The remaining management and Professional Services revenue includes professional management services in the gaming industry, and licensed architectural services. Professional Services revenue excluding Boot Hill Casino increased 49% to $378 in fiscal 2022 compared to $254 in fiscal 2021.

? Costs increased 11% in fiscal 2022 to $15.8 million compared to $14.2 million in fiscal 2021. Costs were 41% of segment total revenue in fiscal 2022, compared to 47% of segment total revenue in fiscal 2021.

? Expenses increased 22% in fiscal 2022 to $13.4 million compared to $10.9 million in fiscal 2021. Expenses were 34% of segment total revenue in fiscal 2022, compared to 36% of segment total revenue in fiscal 2021. The increase is due primarily to 1) an increase in marketing efforts into an expanded market area, and 2) Professional Services growing at a faster rate than Aerospace Products and were allocated a larger portion of the corporate allocation pool.

Aerospace Products

? Revenue increased 10% to $34.3 million in fiscal 2022 compared to $31.3 million in fiscal 2021. This $3.1 million increase was due to an increase in our aircraft avionics and special mission electronics business of $3.4 million and a decrease in our aircraft modification business of $351. We have invested in the development of several STCs. These STCs are state of the art avionics and we are aggressively marketing both domestically and internationally.

? Costs decreased 4% to $22.4 million in fiscal 2022 compared to $23.3 million in fiscal 2021. Costs were 65% of segment total revenue in fiscal 2022, compared to 74% of segment total revenue in fiscal 2021. The decrease in costs is due primarily to a change in product mix in the aircraft modification business.

? Expenses decreased 20% in fiscal 2022 to $5.7 million compared to $7.1 million in fiscal 2021. Expenses were 17% of segment total revenue in fiscal 2022, compared to 23% of segment total revenue in fiscal 2021. The decrease is due primarily to the revenue of Aerospace Products growing at a slower rate than Professional Services and were allocated a smaller portion of the corporate allocation pool.

Liquidity and Capital Resources (in thousands)

At April 30, 2022, the Company has a line of credit with Kansas State Bank in the form of a promissory note with an intereset rate 3.65% totaling $2,000. The unused line at April 30, 2022 was $2,000. There were no advances made on the line of credit during the year ended April 30, 2022. The line of credit is due on demand and is collateralized by a first and second position on all assets of the Company.

One note with Academy Bank, N.A. for $32,667 collateralized by all of BHCMC's assets and compensation under the State management contract with an interest rate of 5.32% payable over seven years with an initial twenty-year amortization and a balloon payment of $19,250 at the end of seven years. The second note with Academy Bank, N.A. for $12,721 collateralized by all of BHCMC's assets and compensation under the State management contract with an interest rate of 5.75% payable in full over five years. These notes contain a covenant to maintain a debt service coverage ratio of 1.3 to 1.0. These notes also contain a liquidity covenant requiring the Company to maintain an aggregate sum of $1.5 million of unrestricted cash. We are in compliance with these covenants at April 30, 2022.

At April 30, 2022, there is one note with 1st Source Bank with an interest rate of 6.25% collateralized by an aircraft security agreement totaling $534. This note was used to purchase an aircraft. This note matures in January 2023.

One note with Fidelity State Bank and Trust Company for $181 remains for real estate purchased in Dodge City, Kansas. The interest rate on this note is 6.25%. This note matures in June 2024.

At April 30, 2022, there is a note payable with Bank of America, N.A. collateralized by real estate with a balance of $1,106. The interest rate on this note is at SOFR plus 1.75%. This note matures in March 2029.

At April 30, 2022, there is a note payable with Bank of America, N.A. collateralized by real estate with a balance of $507. The interest rate on this note is at SOFR plus 1.75%. This note matures in March 2029.

At April 30, 2022, there is a note payable with Patriots Bank with an interest rate of 4.35% collateralized by aircraft security agreements totaling $1,197. This note matures in March 2029.

At April 30, 2022, there is a note payable with an interest rate of 8.13% totaling $52 collateralized by equipment. This note matures in October 2025.

We are not in default of any of our notes as of April 30, 2022 or July 15, 2022.

We believe that our current banks will provide the necessary capital for our business operations. However, we continue to maintain contact with other banks that have an interest in funding our working capital needs to continue our growth in operations in 2022 and beyond.

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During fiscal 2022 our cash position decreased by $9.5 million. Net income was $12.2 million. Cash flows from operating activities provided $11.0 million. Non-cash activities consisting of depreciation and amortization contributed $5.3 million, 401(k) stock issues contributed $807, gain on sale of airplanes used $75, forgiveness of debt used $2.0 million and deferred compensation contributed $585. Deferred income taxes increased our cash position by $174. Accounts receivable decreased our cash position by $1.7 million.

Cash used in investing activities was $9.5 million. We invested $1.1 million towards STCs, $5.2 million in construction of a new hangar, $1.2 million to purchase a new hangar, and $2.0 million on equipment and furnishings. We received $75 in proceeds from the sale of an airplane.

Cash used in financing activities was $11.1 million. We increased our debt by $1.3 million. We made repayments on our debt of $4.4 million. We used $7.7 million to purchase the noncontrolling interest of BHCMC, LLC. We reduced our lease liability by $108. We purchased company stock of $168. The stock acquired was placed in treasury.

The Company anticipates capital expenditures in fiscal year 2023 to be approximately $4.8 million, consisting of $1.3 million on STC's, $700 on the construction of a new hangar, $2.0 million on equipment and furnishings, and $800 on the implementation of sports wagering. We anticipate our cash balance will be sufficient to cover cash requirements through the current fiscal year.

The COVID pandemic caused a global recession and the sustainability of the economic recovery remains unclear. The COVID pandemic has also significantly increased economic and demand uncertainty, has caused inflationary pressure in the U.S. and elsewhere, and has led to disruption and volatility in demand for our services. The COVID pandemic may negatively affect our capital resources and operations.

The Bureau of Labor Statistics reported that the Consumer Price Index increased 7 percent in 2021, indicating the largest increase since 1982. Many of our operating expenses are sensitive to increases in inflation including equipment prices, fuel costs, and employee-related costs. Insurance costs have also significantly increased with most major carriers. Furthermore, inflationary pressures the market is currently experiencing may increase costs for materials, supplies, and services. Rising inflation may also drive demand for increases in compensation for employees which may result in increase in labor costs. With increasing costs, we may have to increase our prices to maintain the same level of profitability.

Critical Accounting Estimates:

We believe that there are several accounting policies that are critical to understanding our historical and future performance, as these policies affect the reported amount of revenue and other significant areas involving management judgments and estimates. These significant accounting policies relate to revenue recognition, the use of estimates, long-lived assets, and Supplemental Type Certificates. These policies and our procedures related to these policies are described in detail below and under specific areas within this "Management Discussion and Analysis of Financial Condition and Results of Operations." In addition, Note 1 to the consolidated financial statements expands upon discussion of our accounting policies.

Revenue Recognition: Revenue Recognition: ASC subject 606, "Revenue from Contracts with Customers"

Under ASC 606, revenue is recognized when a customer obtains control of promised services in an amount that reflects the consideration we expect to receive in exchange for those services. To achieve this core principal, the Company applies the following five steps:

1) Identify the contract, or contracts, with a customer

A contract with a customer exists when (i) the Company enters into an enforceable contract with a customer that defines each party's rights regarding the services to be transferred and identifies the payment terms related to these services, (ii) the contract has commercial substance and (iii) the Company determines that collection of substantially all consideration for services that are transferred is probable based on the customer's intent and ability to pay the promised consideration.

2) Identification of the performance obligations in the contract

At contract inception, an entity shall assess the goods or services promised in a contract with a customer and shall identify as a performance obligation each promise to transfer to the customer. Performance obligations promised in a contract are identified based on the services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the service either on its own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the services is separately identifiable from other promises in the contract. To the extent a contract includes multiple promised services, the Company must apply judgment to determine whether promised services are capable of being distinct and distinct in the context of the contract. If these criteria are not met the promised services are accounted for as a combined performance obligation.

3) Determination of the transaction price

The transaction price is the amount that an entity allocates to the performance obligations identified in the contract and, therefore, represents the amount of revenue recognized as those performance obligations are satisfied. The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer.

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4) Allocation of the transaction price to the performance obligations in the contract

Once a contract and associated performance obligations have been identified and the transaction price has been determined, ASC 606 requires an entity to allocate the transaction price to each performance obligation identified. This is generally done in proportion to the standalone selling prices of each performance obligation (i.e., on a relative standalone selling price basis). As a result, any discount within the contract generally is allocated proportionally to all the separate performance obligations in the contract. The Company is applying the right to invoice practical expedient to recognize revenue. As a result, the entity bypasses the steps of determining the transaction price, allocating that transaction price and determining when to recognize revenue as it will recognize revenue as billed by multiplying the price assigned to the good or service, by the units.

5) Recognition of revenue when, or as, we satisfy a performance obligation

Revenue is recognized when or as performance obligations are satisfied by transferring control of a promised good or service to a customer. Control transfers either over time or at a point in time. Revenue is recognized when control of the promised services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those services.

Aircraft modifications are performed under fixed-price contracts. Revenue from fixed-priced contracts are recognized on the percentage-of-completion method, measured by the direct labor incurred compared to total estimated direct labor. Using direct labor best represents the progress on a contract.

Revenue from Avionics products are recognized when shipped. Payment for these Avionics products is due within 30 days of the invoice date after shipment. Revenue from Gaming Management and other Corporate/Professional Services is recognized as the service is rendered.

Regarding warranties and returns, our products are special order and are not suitable for return. Our products are unique upon installation and tested prior to their release to the customer and acceptance by the customer. In the rare event of a warranty claim, the claim is processed through the normal course of business and may include additional charges to the customer. In our opinion, any future warranty work would not be material to the consolidated financial statements.

Gaming revenue is the gross gaming win as reported by the Kansas Lottery casino reporting systems, less the mandated payments by and for the State of Kansas. Electronic games-slots and table games revenue is the aggregate of gaming wins . . .

Jul 15, 2022


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Fri, 15 Jul 2022 03:45:00 -0500 en-US text/html
Killexams : Fake Cancer Charities Shutdown, Leader Agrees To Lifetime Ban

Tennessee Secretary of State Tre Hargett, Tennessee Attorney General Herbert H. Slatery, III, along with the Federal Trade Commission and agencies from all 50 states have obtained a permanent injunction to dissolve two nationwide sham cancer charities and ban their president from profiting from any charity fundraising in the future under a settlement filed in court Wednesday.  

Cancer Fund of America Inc., Cancer Support Services Inc. and their leader, James Reynolds, Sr., agreed to settle charges that CFA and CSS claimed to help cancer patients, but spent the overwhelming majority of donations on their operators, families, friends and fundraisers. 

"This settlement is a major victory that concludes an extremely long, but crucial investigation that should send a strong message to those who prey on generous Tennesseans," said Secretarry Hargett. "This type of fraud will not be tolerated in Tennessee or anywhere else."

The agencies’ complaint, filed in May 2015, targeted four sham charities run by Reynolds and his family members that allegedly bilked more than $187 million from donors. CFA and CSS were responsible for more than $75 million of that amount. The other two sham charities settled in May 2015. The settlement announced Wednesday concludes the largest joint enforcement action ever undertaken by the FTC and state charity regulators. 

Under the settlement order, CFA and CSS will be permanently closed and their assets liquidated. Reynolds is banned from profiting from charity fundraising, nonprofit work, serving as a charity’s director or trustee or otherwise managing charitable assets. He is also prohibited from making misrepresentations about goods or services, violating state laws or the FTC’s Telemarketing Sales Rule. 

“Today’s settlement is the result of more than a year of hard work by this office and our state and federal colleagues,” said General Slatery. “Our actions today ensure that these sham charities will be closed for good and the operators will never again have the opportunity to swindle millions of dollars from compassionate Tennesseans hoping to help those battling cancer. Apart from taking advantage of well-meaning donors, this type of charity fraud also deprives legitimate charities of much needed support and should not be tolerated in Tennessee or any other state.” 

The order imposes a judgment against CFA, CSS and Reynolds, jointly and severally, of $75,825,653, the amount consumers donated to CFA and CSS between 2008 and 2012. The judgment against CFA and CSS will be partially satisfied via liquidation of their assets. The judgment against Reynolds will be suspended upon surrender of certain artwork, two pistols and sale of a pontoon boat. The full judgment will become due immediately if he is found to have misrepresented his financial condition. 

The other defendants in the case were CFA’s and CSS’ chief financial officer and CSS’ former president, Kyle Effler; Children’s Cancer Fund of America Inc. and its president and executive director, Rose Perkins; and The Breast Cancer Society Inc. and its executive director and former president, James Reynolds II. Under settlement orders, Effler, Perkins and Reynolds II were banned from fundraising, charity management and oversight of charitable assets. CCFOA and BCS are in receivership and will be dissolved after their assets are liquidated. 

People with questions about a charity or professional solicitor operating in the state of Tennessee should contact the Division of Charitable Solicitations and Gaming by calling 615.741-2555 or going to

Fri, 29 Jul 2022 12:00:00 -0500 en text/html

PR Newswire

RICHMOND, Va., June 28, 2022

A Quarter of Americans Will Take "Multi Micro-Cations" this Summer, According to Allianz Partners USA's 14th Annual Vacation Confidence Index

RICHMOND, Va., June 28, 2022 /PRNewswire/ -- Americans are looking to take quick getaways this summer, favoring a "micro-cation" versus the traditional week-long vacation, according to a new survey from Allianz Partners USA.

14th Annual Vacation Confidence Index

Link to obtain graphic: HERE.

Since coining the term in 2019, the travel insurance and assistance company has followed Americans' intent to take a micro-cation, defined as a leisure trip at least 100 miles away from home that's four nights or fewer in duration.

According to this year's 14th annual Vacation Confidence Index, more than half of respondents (53%) say their next vacation will be a micro-cation and almost a quarter (23%, up two points from last year) are planning multiple micro-vacations, aka 'multi micro-cations,' a new travel trend identified in last year's Vacation Confidence Index.

Seven in ten (71%, up from 67% last year) Americans will travel away from home between now and September for at least one night, and four in ten (39%, up from 34% last year) are planning multiple trips away from home this summer.

The average number of trips Americans anticipate taking away from home this summer is 1.4, up from 1.2 last year. Younger Americans ages 18-34 (44%) and men (40%) are leading the multiple trips trend, planning two or more between now and September.

The survey also revealed how spending habits change based on the duration of the trip. For one-night micro-cationers, the average anticipated spend is $606; for travelers planning a two-night getaway, the average is $410 per night. The anticipated average spend drops for three- and four-nights away, with a $325 average per night and $323 average per night, respectively.  

"The Summer travel season is here, and Americans are taking advantage of those banked vacation days," said Daniel Durazo, director of external communications at Allianz Partners USA. "Whether it's a road trip, a getaway to the mountains or to the beach for some R&R, Americans are planning quick getaways, and many are planning multiple trips to help satisfy their desire for travel. For frequent travelers, an annual travel insurance policy covering a year's worth of travel is a great idea, offering convenience and value."

The Vacation Confidence Index has been conducted each summer since 2010 by national polling firm Ipsos Public Affairs on behalf of Allianz Partners USA.

In March 2021, Allianz Partners announced enhancements*** to many of its travel insurance products in most states through an Epidemic Coverage Endorsement. Products that include this endorsement may provide coverage to customers who become ill with COVID-19 or a future epidemic, are individually ordered to quarantine, or are denied boarding due to a suspected illness. These products also may cover emergency medical care and transportation or provide reimbursement for change fees and loyalty points deposit fees if the customer becomes ill with an epidemic disease. Availability of the Epidemic Coverage Endorsement, and specific covered reasons under that endorsement, varies by product and by state. See your plan for details.

Allianz Partners offers travel insurance through most major U.S. airlines, leading travel agents, online travel agencies, hotel companies, cruise lines and directly to consumers. For more information on Allianz and available travel policies, please visit

*Methodology: These are the findings of an Ipsos poll conducted on behalf of Allianz Partners USA. For this survey, a sample of 2,011 Americans aged 18+ was interviewed from May 2 to 4, 2022, via the Ipsos Online Omnibus. The precision of Ipsos online polls is measured using a credibility interval. In this case, the results are accurate to within +/- 2.5 percentage points, 19 times out of 20, of what the results would have been had all American adults been polled. Quota sampling and weighting were employed in order to balance demographics and ensure that the sample's composition reflects that of the real U.S. population, according to data from the U.S. Census Bureau. Credibility intervals are wider among subsets of the population.

About Allianz Partners

In the United States, Allianz Partners USA (AGA Service Company) offers Allianz Travel-branded travel protection plans and serves millions of customers each year. In addition to travel protection, the company offers event ticket protection, registration protection for endurance events and unique travel assistance services such as international medical assistance and concierge services. AGA Service Company is doing business as Allianz Global Assistance Insurance Agency in California (License # 0B01400) and Massachusetts. Allianz Partners USA is part of the Allianz Partners group. Allianz Partners is a world leader in B2B2C insurance and assistance, offering global solutions that span international health and life, travel insurance, mobility and assistance. Customer driven, our innovative experts are redefining insurance services by delivering future-ready, high-tech, high-touch products and solutions that go beyond traditional insurance. Present in over 75 countries, our 19,400 employees speak 70 languages, handle over 58 million cases each year, and are motivated to go the extra mile to offer peace of mind to our customers around the world. 

*** While the new Epidemic Coverage Endorsement adds certain covered reasons that apply to specific epidemic-related situations, products otherwise generally do not cover claims due to known, foreseeable, or expected events, epidemics, government prohibitions, warnings, or travel advisories, or fear of travel, and coverage can vary by state. Please see our Coverage Alert for information about other temporary accommodations that may be available. Benefits for quarantines only apply when an eligible traveler is specifically named and individually ordered to quarantine by order or official directive of a government, public regulatory authority, or the captain of a commercial vessel on which that eligible traveler is booked to travel during the covered trip, based on that eligible traveler's exposure to COVID-19. The benefit does not cover travel restrictions (whether or not they are referred to as "quarantine") that apply generally or broadly (a) to some segment or all of a population, geographical area, building, or vessel (including without limitation shelter-in-place, stay-at-home, safer-at-home, or other similar restriction), or (b) based on to, from, or through where the person is traveling. Coverage may not cover the full cost of your quarantine and is subject to applicable benefit limits. See your plan for details.

For Allianz Partners USA products offered and sold in the U.S.: Terms, conditions, and exclusions apply to all plans. Plans are available only to U.S. residents. Not all plans are available in all jurisdictions. Availability of Epidemic Coverage Endorsement, including specific benefits and covered reasons described here, varies by product and by state. Products may not include all benefits or covered reasons described here. All benefits are subject to maximum limits of liability, which may in some cases be subject to sublimits and daily maximums. Benefits and limits vary by plan. For a complete description of the coverage and benefit limits offered under your specific plan, carefully review your plan's Letter of Confirmation/Declarations and Certificate of Insurance/Policy. Insurance coverage is underwritten by BCS Insurance Company (OH, Administrative Office: Oakbrook Terrace, IL), rated "A" (Excellent) by A.M. Best Co., under BCS Form No. 52.201 series or 52.401 series, or Jefferson Insurance Company (NY, Administrative Office: Richmond, VA), rated "A+" (Superior) by A.M. Best Co., under Jefferson Form No. 101‐C series or 101‐P series, depending on state of residence. A+ (Superior) and A (Excellent) are the 2nd and 3rd highest, respectively, of A.M. Best's 13 Financial Strength Ratings. Except as otherwise specified, AGA Service Company d/b/a Allianz Global Assistance is the licensed producer and administrator of Allianz Travel-branded travel protection plans in the U.S. and an affiliate of Jefferson Insurance Company. Allianz Global Assistance, TravelSmart, and AgentSmart are marks of AGA Service Company or its affiliates. The insured shall not receive any special benefit or advantage due to the affiliation between Allianz Global Assistance and Jefferson Insurance Company. Plans include insurance and assistance services. Noninsurance benefits/products are provided and serviced by Allianz Global Assistance. SmartBenefits proactive payments and "no receipts" payments available only on certain plans. For plans that include proactive payments: when you opt in and provide flight information, Allianz Global Assistance will monitor flights and send flight status and benefit alerts, including alerts about flight delays that qualify for automated travel delay payments. Standard message/data rates apply to SMS alerts. Automated claims and payment system availability is not guaranteed and is subject to our sole discretion. All claims subject to policy terms, conditions, and exclusions.

(PRNewsfoto/Allianz Partners)

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Tue, 28 Jun 2022 02:22:00 -0500 en text/html
Killexams : LBS - Leader in providing world - class education

Really, there are so many occupations you could pursue on mastering English and IT (probably more than you could even imagine....! ). Some people mistakenly believe that a degree in Business is a much more logical choice. But as an English and an IT literate you would always feel privileged and I presume your experience in achieving your English and IT proficiency at LBS will leave you with that sense of having accomplished something of lasting value that will stay with you for the rest of your life no matter what your career path could turn out to be.

Applying for a new job is akin to entering a competition. The competition would be between you and every other person applying for the same position. The better and more popular the job the greater the competition; and the greater the competition - the tougher it would get to become selected.

It could be a harsh and a demoralizing world for a job seeker, as they'd have to do everything possible after their OLs like mastering English language and IT skills and progressing further with more advanced credentials, at every stage..... to increase the chances of getting shortlisted for interviews and selection. London Business School could find an apt answer for this dilemma for an OL qualified, as we have all what it takes to put you high on the path to progress and prosperity says M M Maznavi, CEO of London Business School in Sri Lanka.

This time around while you're busy with your OLs it could also be a time to look around for an exciting journey via LBS to becoming an international student and a fascinating future. We have tips, tools and advice to help you qualify as a Global Professional through universities anywhere in the world - right after your OLs.

The International Foundation Diploma (IFD) is one such. It's a pre-degree programme especially designed for OL students whose first language is not English and to develop their English language skills in writing, reading, note taking, group work and presenting while expanding their IT skills and prepare them for undergraduate study. IFD could mould you to successfully complete a degree education in Business Management, Computing and Information Technology or Travel, Tourism and Hospitality Management in a university in UK, USA, Canada or Australia, he explained.

One of the best possible things you can do to Boost yourself and make you more appealing to your current and future employers is to learn a second language. Learning any second language will have many benefits, but learning English as a second language could have benefits that could be far beyond any other possible choices, possibly far beyond what you can even imagine learning a second language would do for you.

On completing the difficult task of learning English as a second language will not only make you more capable of connecting and communicating with millions and millions of people worldwide...... it will also open up many more opportunities for you to continue to further your education. If the saying, knowledge is power is true, then your true key to power could be learning the English language. The Certificate in Spoken English, Diploma in English and the Advanced Diploma in English found at LBS could help you in mastering the English language effortlessly, he feels.

You may not be the only one who didn't know that ABE (Association of Business Executive UK) is one of the most recognized British Management Qualification in Sri Lanka and that it provides you entry to the second and final years of a Bachelors degree programme in any university around the world. With relevant work experience you can fast track to an MBA.

ABE is a low-cost route to a university degree and could save you thousands of pounds. while giving you the skills to make a real difference in the workplace, from finance and accounting to marketing and management. These qualifications are recognised and accredited by QCA, the UK qualifications regulator. ABE have exemption arrangements with other professional bodies including ACCA, CIMA and BCS to save you time and accredit your learning, he continued.

Graduate Diploma in Business Management, Advanced Diploma in Business Management and the Diploma in Business Management awarded by Wigan & Leigh College of UK provides a multi-disciplinary introduction to the principles, problems and techniques of management. On completion of the programme graduates will * be able to use management techniques drawn from specialist disciplines, as Marketing, Finance, HRM, Entrepreneurship and International Business. * understand the nature of management, the complexity of organisations and how to manage change. * be numerate and aware of the benefits of statistical techniques in managerial decision making. * Work effectively in teams. And * be able to write succinct reports.

The programme has been designed to meet the needs of graduates who normally do not have a business and management background and who wish to develop skills in the full range of management disciplines. We expect students from a wide range of subject backgrounds to find this programme of value to them, he said.

LBS, perhaps may be the only professional education institution of its kind in the country having low cost, fast track UK Executive Diplomas for just about any discipline you'd wish to follow - HRM, Marketing, Project Management, Banking & Finance, Insurance & Risk Management, Psychology, Call Centre Management, Customer care Management, Financial Management, Travel Tourism and Hospitality Management, Production and Operations Management, Journalism & Mass Communications, the list is virtually endless from Wigan & Leigh College of a 150 year vintage and one of the largest state owned institutions of higher education in UK.

LBS has a vision - to become an undisputed leader in providing a world - class education at an affordable cost in the Asian Region and with a mission to making their students to be held in high esteem by employers worldwide for their superior skills. We assure that our courses are most modern, up-to-date and benchmark in quality. We have produced outstanding students holding forte in the corporate world here and overseas. We are proud of our 17 year record in the field of education said Maznavi, concluding the interview.

Tue, 06 Aug 2019 10:05:00 -0500 text/html
Killexams : How to Navigate BRI Projects

A process that determines the potential environmental and social risks and impacts (including human rights and climate change risks and impacts) of a proposed project in its area of influence. It is also a comprehensive document of the project’s potential environmental and social risks and impacts. An ESIA is usually prepared for greenfield developments or large expansions with specifically identified physical elements, aspects, and facilities that are likely to generate significant environmental or social impacts. Where the project has the potential to cause adverse human rights impacts, the documentation should include an assessment of those impacts. Examples of assessment documentation include, but are not limited to, the following: an environmental and social impact assessment, environmental and social audit, hazard assessment, risk assessment, cumulative impact assessment, social and conflict analysis, environmental and social management plan (ESMP), environmental and social management framework, regional ESIA, sectoral ESIA, strategic environmental and social assessment (SESA), resettlement plan, livelihood restoration plan, Indigenous peoples plan (IPP), biodiversity action plan (BAP), cultural heritage management plan (CHMP), and relevant project-specific environmental permits. Non-technical environmental and social summaries can supplement the assessment documentation, especially when these are disclosed to the public as part a broader stakeholder engagement process.

Although social impacts and risks may be examined as part of the environmental impact assessment (EIA) in some host countries, it is important to determine whether a separate or supplementary social impact assessment (SIA) may be necessary to identify the full range of impacts on and risks to society — particularly women; the elderly; children and youth; people with disabilities; Indigenous peoples; ethnic, linguistic, and religious minorities; refugees; and displaced populations. For more information about engaging affected people, civil society organizations (CSOs)/nongovernmental organizations (NGOs), and other stakeholders in this assessment, see Preparation and Implementation of Environmental and Social Impact Assessment (ESIA).

Tue, 02 Aug 2022 04:51:00 -0500 en text/html
Killexams : Alankit Ltd Management Discussions.

By clicking on submit button, you authorize IIFL & its representatives & agents to provide information about various products, offers and services provided by IIFL through any mode including telephone calls, SMS, letters etc. . you confirm that laws in relation to unsolicited communication referred in National Do Not Call Registry as laid down by Telecom Regulatory Authority of India will not be applicable for such information/ communication.

Sat, 18 Jun 2022 16:17:00 -0500 en text/html
Killexams : MICEX, RTS indexes close mixed as trading day ended

MOSCOW, July 8. /TASS/. Russian market indexes ended the trading session on Friday with mixed dynamics. The MOEX Russia Index tumbled 0.28% to 2,220.42 points by the close of business on the Moscow Exchange. The RTS index gained 0.68% to 1,140.2 points.

The dollar moved down by 1.29% against the ruble to 61.15 rubles. The euro dropped by 1.87% to 62.47 rubles.

Brent oil futures added 1.11% to $107.62 a barrel on the London-based ICE today.

Investors will continue keeping an eye on ruble rate fluctuations, commodities prices and corporate news, Alexander Bakhtin from BCS Investment World said.

The forecast range of BCS Investment World for the MOEX Russia Index is 2,180-2,280 points for the first trading day during the next week.

Fri, 08 Jul 2022 08:29:00 -0500 text/html
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