You are a newly promoted audit manager at a national CPA firm with international affiliates, and you are very excited about being part of the audit team of a major client of the firm: a large pharmaceutical corporation that participates in the U.S. government’s Vaccine for Children Program (VCP). The VCP purchases its federal stockpile of pediatric vaccines from only a small, select group of major pharmaceutical companies deemed eligible to participate in this program. This vaccine stockpile is a strategic reserve in which vaccine makers maintain a six month supply. Your appointment to this audit team bodes well for your long-term goal of becoming a partner at the firm.” p. 691

“As part of your audit planning, you begin by reviewing U.S. generally accepted accounting principles (GAAP) revenue recognition concepts and criteria, followed by transaction-specific guidance that directly relates to pharmaceutical companies’ vaccine stockpiles, which are classified as bill-and-hold sales. You know that a bill-and-hold sale is a sale in which the buyer purchases products and requests that the seller hold the product to be delivered upon request at a future time. The seller can charge the buyer an inventory carrying cost. Sometimes, the buyer pays for the product before it is shipped, such as the VCP in which your client participates. The government prepays for the stockpiled vaccines, which are stored by the vaccine companies in their warehouses and are not delivered until the government—in this case, the Centers for Disease Control (CDC)— request delivery. The vaccine makers are also required to rotate the inventory as the vaccines expire. p. 692

• Does the transaction described above qualify as a bill-and-hold sale under ASC 606? Why or Why not? Support your answer from authoritative sources. You may also include non-authoritative sources to support your conclusions. 

Memo Format  

• Facts/Background: State the relevant facts surrounding the issue
• Questions (issues): List the researchable questions you are trying to answer.
• Analysis: Include all relevant authoritative guidance along with analysis of how the guidance applies.
• Conclusion: Sate the conclusion based on your research, highlighting key factors considered. Provide more detail for highly judgmental issues.
• Financial Statement and Disclosure Impacts: Summarize financial statement accounts affected and any disclosures required. Include journal entries when possible.

Write a 3 page essay on Discuss and compare the five market orientations that a company may adopt when carrying out its marketing activities. illustrate your answer with examples.

To start there was the Production Orientation. The centre of this orientation is to mass-produce with ease. A well-understood sample of Product Orientation is the Ford Motor Company. Henry Ford added to the Model T Ford. an auto car that was quiet inexpensive during its production2. This item was mass created so that the creation expenses could be lessened empowering it to be more reasonable to clients. One of the constraints to this introduction is that new market contestants have the capacity to recreate the low-cost mass item turning out to be coordinate rivalry and at times very nearly kicking others out of the business arena. Moreover, General Motors had made this practicality real to the onlookers when it almost kicked Model T Ford out of business.

Taking after the Production orientation was the Product orientation. This kind of orientation expects that shoppers will be attracted to an item that has the most positive execution, quality, and creative highlights. The orientation can in any case be seen largely at work aural the Apple Company. Apple is celebrated for its current innovation progress, continually presenting new patterns aural the cell telephone industry. Apple concentrates on creating new items that shoppers do see the significance, and afterward markets these items as excellent must-haves3. Likewise, with each orientation the item orientation has its burdens. An impediment to this orientation is it may prompt marketing myopia. Marketing myopia is the course in which organisations fizzle because of lack of concern and a foolish personality set of completely comprehension what business they are in. For example, rail lines. however, illustrations are obvious today all over, for example, the daily paper and phones.

Following the Product Orientation was the Sales Orientation. The Orientation stipulates that with a specific end goal to accomplish vast volumes of yield it must concentrate intensely on sales promotion. This disposition created