We consider a continuous time dynamic pricing model where a seller needs to sell a single item over a finite time horizon. Customers arrive in accordance with a Poisson process. Upon arrival, a customer either purchases the item if the posted price is lower than his/her reservation price, or leaves empty-handed. After purchasing the item, some customers, however, will return the item to the seller at an exponential rate for a full refund. We assume that a returned item is in mint condition and the seller can resell it to future customers. The objective of the seller is to dynamically adjust the price in order to maximize the expected total revenue when the sale horizon ends. We formulate the dynamic pricing problem as a dynamic programming model and derive the structural properties of the optimal policy and the optimal value function. For cases in which the customer's reservation price is exponentially distributed, we derive the optimal policy in a closed form. For general reservation price distribution, we consider an approximation of the original model by discretizing both time and the allowable price set. We then present an algorithm for numerically computing the optimal policy in this discrete time model. Numerical examples show that if the discrete price set is carefully chosen, the expected total revenue is nearly the same as that when the allowable price set is continuous. / Master of Science

This thesis examines if price momentum and momentum in firm fundamentals measured by earnings and revenue momentum are related on the Swedish stock market. Price momentum is measured through the 11-month prior performance (11MPM), Earnings Momentum through Standardized Unexpected Earnings (SUE), and Revenue Momentum through Standardized Unexpected Revenue Growth (SURGE). Using firm-level data from 2007 until 2024, zero-investment momentum strategies are established and show significant returns not explained by any conventional asset pricing model. There is a strong dominance of the earnings momentum strategy, by wide margin outperforming both price and revenue momentum. The abnormal price momentum profits disappear when controlling for earnings momentum returns, whereas the returns to earnings momentum remain robust after controlling for the price momentum. These results support the claim that price momentum is a weak manifestation of fundamental momentum. The revenue momentum returns are not explained by earnings momentum, which indicates that these performance metrics contain exclusive information about the fundamental performance of a firm.

En ständigt aktuell debatt inom redovisning är vilka kriterier som ska ligga till grund vid bedömningen av när recognition av intäkter skall ske. Diskussionen har sin grund i vilka rekvisit som ska uppfyllas för att recognition av intäkter skall ske. IASB och FASB kom år 2014, efter ett samarbete sedan år 2002 som en del i harmoniseringsprocessen, ut med IFRS 15 - Revenue from Contracts with Customers. IFRS 15, som är en ny redovisningsstandard för intäktsredovisning, kommer bland annat att ersätta de nuvarande standarderna IAS 18 Intäkter och IAS 11 Entreprenadavtal.   I denna studie tillämpas rekvisiten för recognition av intäkter i enlighet med IFRS 15 och IAS 11 för att analysera effekter på bolagsskatt, informationsvärde och utdelningsmöjligheter. Med utgångspunkt i intressentmodellen och de finansiella rapporternas syfte till att lämna information till intressenter så analyseras effekterna. Analyserna sker utifrån sju konstruerade typfall som belyser effekterna till följd av att IFRS 15 respektive IAS 11 tillämpas. Studien är förutsägande och typfallens balansräkningar, resultaträkningar och avtal syftar till att visa vilka faktorer som blir avgörande när eventuella skillnader i intäktsredovisningen uppstår. Därefter analyseras vilken eller vilka intressenter som påverkas vid tillämpningen av IAS 11 respektive IFRS 15.   Syftet med studien är att genom tillämpning av standarderna i typfallen, på ett pedagogiskt sätt analysera ekonomiska konsekvenser vid tillämpning av IFRS 15, för aktiebolagets intressenter avseende informationsvärde till intressenter, bolagsskattens påverkan och utdelningsmöjligheter. Studien visar att tillämpningen av den nya standarden IFRS 15 kan påverka intäktsredovisningen och då skapa skillnader i bolagsskatt, informationsvärde och utdelningsmöjligheter mellan standarderna IFRS 15 och IAS 11.   Resultaten av studien pekar på att skillnader kan uppstå vid tillämpning av IFRS 15 jämfört med IAS 11 då införandet av kravet på överföring av kontroll för recognition av intäkter skiljer sig från att föra över de betydande risker och förmåner förknippade med en tillgång. Vidare kan skillnader uppstå om ett avtal delas upp på flera prestationsåtagande vid tillämpning av IFRS 15 medan avtalet har ett prestationsåtagande vid tillämpning av IAS 11. Skillnader kan även uppstå när kontroll inte kan överföras över tid enligt IFRS 15 medan successiv vinstavräkning kan tillämpas vid intäktsredovisning enligt IAS 11 och om flera avtal ska ses som ett enligt IAS 11 men delas upp på flera avtal enligt IFRS 15. De intressenter som gynnas eller missgynnas kan vara ägare, anställda, myndigheter samt kreditgivare. Det framkommer av analyserna att det är beroende på vilken typ av skillnad som uppstår som blir avgörande för om en intressent kan anses missgynnas eller gynnas. / A constant and current debate within accounting is what criteria’s should be the basis for assessing when the recognition of revenue should take place. The discussion is based on the conditions which must be met for the recognition of revenue to take place. IASB and FASB published in 2014, after collaboration since 2002 as part of the harmonization process, IFRS 15. IFRS 15 is a new accounting standard for revenue recognition which will replace the current standards IAS 18 Revenue and IAS 11 Construction Contracts.   In this study the conditions for recognition of income are applied in accordance with IFRS 15 and IAS 11 in order to analyze the effects on income tax, information value and dividend potential. Based on the stakeholder model and the objective of financial statements, which are to provide information to stakeholders, the effects are analyzed. The analysis is based on seven constructed scenarios that illustrate the effects as a result of the application of IFRS 15 and IAS 11.   The purpose of the study is to through the application of standards in the scenarios in a educational way analyze the economic consequences for the companies stakeholders regarding information value, the effect on income tax and dividend potential. The study shows that the application of the new standard IFRS 15 may influence revenue recognition and as a result it could create differences between the two standards IFRS 15 and IAS 11 regarding income tax, information value and dividend potential.   The results of the study indicate that differences may arise from the introduction of the requirement for the transfer of control of the recognition of revenue, contracts are divided on several performance commitments in IFRS 15 while the contract has one performance commitment in application of IAS 11. Differences may also occur when the control cannot be transferred over time in accordance with IFRS 15 while the percentage-of-completion method can be applied to revenue recognition in accordance with IAS 11. The stakeholders that benefit or have an disadvantage could be the owners, employees, authorities and creditors. It emerges from the analyzes that it is dependent on the type of difference that will determine whether a stakeholder can be considered disadvantaged or favored.

Bien que le transport de marchandises joue un rôle essentiel dans le secteur économique et que la demande de transport de marchandises augmente, les transporteurs sur le marché du fret ont encore du mal à maintenir et à améliorer leurs revenus. Pour répondre aux défis, Revenue Management (RM) et l’Internet Physique (PI) sont adoptés comme solution dans cette thèse. RM est une méthode, issue de l’industrie du transport aérien, qui permet de maximiser les revenus. PI est un système logistique entièrement interconnecté, ouvert et dynamique visant à développer des réseaux logistiques mondiaux interconnectés ouverts afin d'accroître l'efficacité et la durabilité de la logistique. Cette thèse examine l’application de RM dans PI pour améliorer les revenus des transporteurs de chargement partiel. L’application de RM dans PI est étudiée à partir de quatre questions de recherche sur RM : la tarification, le contrôle de capacité, les prévisions et la tarification groupée. De plus, pour chaque question de recherche, une étude expérimentale est menée pour évaluer la faisabilité et les performances des modèles d'optimisation proposés correspondant à chaque question. Les résultats fournissent aux transporteurs des implications en termes de gestion et des conseils constructifs leur permettant d’optimiser leurs revenus à plusieurs niveaux, en tenant compte de situations et de scénarios différents. Dans l’ensemble, cette recherche examine Revenue Management du point des transporteurs de chargement partiel opérant dans un environnement très dynamique tel que l’Internet Physique. Les travaux de cette recherche donnent un aperçu général et systématique de l’application de Revenue Management dans un réseau dynamique de transport de marchandises par route. Les réalisations de cette thèse fournissent une base pour la future étude approfondie sur le problème des revenus dans un environnement dynamique. / Although the freight transport plays vital role in the economic sector and the freight transport demand is increasing, there are still challenges for the carriers in the freight market to keep and improve their revenue. To respond to the challenges, Revenue Management (RM) and Physical Internet (PI) are adopted as the solution in this thesis. RM is a method, which is originated from airline industry, to maximize the revenue. PI is a fully interconnected, open, dynamic logistics system aiming to develop an open global interconnected logistics networks to increase the logistics efficiency and sustainability. This thesis investigates the application of RM in PI to improve the revenue of less-than-truckload (LTL) carriers. The application of RM in PI is studied based on four research questions in RM, i.e. pricing, capacity control, forecasting, and bundle pricing. In addition, for each research question, an experimental study is conducted to evaluate the feasibility and performance of the proposed optimization models corresponded to each question. The results provide the carriers managerial implications and constructive guidance to make decisions to optimize their revenue at several levels, considering different situations and scenarios. Overall, this research investigates the Revenue Management from the point of view of LTL carriers operating in a highly dynamic environment like Physical Internet. The work in this research gives a general and systematical sight to the application of RM in a dynamic network of road freight transport. The achievements of this thesis give a basis for the future in-depth study on the revenue problem in a dynamic environment.

一、研究目的與方法： 　　我國營業稅為省（市）政府主要的財源，在省、市間存有分配不均的現象，雖直轄市按其營業稅收入總額百分之五十交付中央統籌分配省及直轄市，但實際分配的結果，以82年度為例仍是財政狀況最佳的臺北市分配最多，財政狀況最差的臺灣省分配最少，未能有效改善營業稅稅收在省、市間分配不均之現象。再者各省、市對於總繳制度、外銷財貨適用零稅率退稅、海關代徵營業稅等制度多有不滿，此等問題如何解決，值得深入研究。本文主要的目的在建立一套明確的營業稅稅收分配公式，並試擬不同的營業稅稅收分配方案，以改善目前營業稅稅收在省、市間分配不均之情況。 　　本文先探討營業稅稅收收入權應屬中央或地方政府及介紹其他聯邦體制下國家之加值稅分配情況，繼而透過我國營業稅稅收分配制度的分析，以探討造成營業稅稅收分配不均之原因，並建立一明確分配公式，配合不同之營業稅稅收分配方案，計算不同之分配結果，以作為未來營業稅稅收分配制度改革的參考。 　　二、研究發現： 　　　（一）由基本性質及租稅收入劃分原則來分析，加值稅應由中央統一徵收並屬國稅。聯邦體制國家為避免課徵加值稅後減少地方政府財源，通常採用收入分成公式將加值稅收入分配予各級地方政府。 　　　（二）營業稅在省、市之間的分配，雖已透過中央統籌分配稅之調整，但其實際分配在省、市之間仍存在水平不均的現象。 　　　（三）營業稅雖然為省（市）稅，但其制度之設計又與國稅相仿，因此，「總繳」、「海關代徵營業稅」、「外銷財貨退稅」更使目前營業稅水平分配不均。 　　　（四）營業稅水平分配不均，根本解決之道是將營業稅改列為國稅，但因修法不易且造成省市自有財源流失，故可行之道乃制定一明確之公式將營業稅統籌分配予省、市政府。 　　　（五）試擬以下三種不同分配方案： 　　　　方案一：將全部營業稅劃歸中央統籌分配稅款，再按公式分配予各省、市。 　　　　方案二：將各分支機構之營業稅分配至分支機構所在地，直轄市仍以其營業稅收百分之五十交付予中央統籌，並按公式分配省及直轄市。 　　　　方案三：各省（市）將造成目前營稅稅收分配不均因素對營業稅收入之影響金額加回或扣除，為各省（市）調整後營業稅收入，臺北市以其總收入百分之六十五，高雄市以其總收入百分之五十五交付中央統籌，按公式分配直轄市及省。 　　　　三方案均可有效解決營業稅水平分配不均的現象，但方案一可以徹底消除目前營業稅分配不均的原因，且因其將全部營業稅收列為可分配的對象最能顯示分配的公平性，故此方案為最佳的方案，但其須修法的幅度較大，短期可以方案二或方案三代之，長期改制方向仍應以方案一作為努力之標準。 　　三、研究建議： 　　為有效改善目前營業稅稅收分配不均的問題，本文對未來營業稅稅收分配制度有如下的建議： 　　　（一）設計一明確的營業稅分配公式。 　　　（二）營業稅仍列為省（市）稅。 　　　（三）公式的設計以有效解決目前營業稅稅收分配不均為目標。 　　　（四）省、市政府支付中央統籌分配稅款之比例，應考慮不同地區的財政狀況之差異。

Studien studerar intäktsredovisningen i idrottens elitverksamhet. Studien är inriktad mot ishockeyns Elitserie och fotbollens Allsvenska. Syftet med studien är att undersöka vilka problem som kan uppstå i intäktsredovisningen och förklara dem. Om problem uppkommer önskade undersökningen ta reda på om ett utvecklande av avtalen skulle kunna vara en lösning. Anledningen till detta val härstammar från Borussia Dortmund och deras problem med att intäktsredovisa ett sponsoravtal som sträckte sig över fem år. De valde att redovisa hela summan i början av kontraktstiden vilket är fel, det borde skett en periodisering över hela kontraktstiden. Idrotten har gått från att vara ett allmänt nöje till att mer och mer likna rent företagande, i alla fall på elitnivå. Revisionsbyrån PwC har utvecklat ett dokument för att underlätta redovisningen av intäkter för underhållningsbranschen då kommersiella avtalet tenderar att vara väldigt komplicerade. För att besvara studiens syfte har telefonintervjuer och mejlkonversationer förekommit med föreningarnas ekonomichefer samt redovisningsansvariga. Det resulterade i totalt åtta intervjuer, fyra från ishockeyns Elitserie och fyra från fotbollens Allsvenska. För att komplettera har årsredovisningar från föreningarna granskats med fokus på förvaltningsberättelse, resultaträkningen samt de noter som behandlar intäkter. De intäkter som valts att undersöka är sponsor- och reklamintäkter, tv-intäkter, biljetter och en liten del merchandise. Resultatet visar på att föreningarna inte anser sig ha några problem med intäktsredovisningen och skulle därför inte behöva någon utveckling av sina avtal. Däremot visade undersökningen att en förening kan hantera erkännandet av sina intäkter på olika sätt. Det finns ingen konsekvens i hur intäkterna tas upp. I vissa fall sker det vid fakturering, ibland vid betalning eller när prestationen är utförd. Ibland sker periodisering men oftast inte, förutom vid de tillfällen då betalningen erhålls under fel år. Detta är dock inget problem då föreningarna måste, både enligt elitlicensen och eftersom att de följer bokföringsmässiga grunder, följa sitt räkenskapsår.

Semi-autonomous revenue authorities (ARAs) have been established all over the world as a distinctive institutional model outside the traditional public service aimed at enhancing tax administration, and thereby raising tax revenues. In order to boost the robustness of their operations, substantial expenditures have gone towards modernising ARAs. Expenditures have been guided by medium-term corporate-wide plans, and the results monitored, assessed and reported using performance measures. Performance measurement has proved challenging for ARAs to implement and sustain in practice. Some of the challenges evolve around weak capacity, implementation costs, issues to do with quantification, competing demands from a wide range of constituents, the inappropriate selection of measures and a bias towards performance measures that focus on finances. As a means for enhancing performance measurement, there are practices, lessons and theoretical perspectives that can be discerned from the broadspectrum of literature on performance measurement in the public sector and ARAs from around the world. This thesis explores how performance measurement in African ARAs can be more strategic, efficient and effective by ascertaining which key factors shape its adoption. The research focuses on the in depth study of three ARAs in Sub Saharan Africa, involving a combination of structured interviews with internal and external stakeholders, the administration of a survey instrument and review of ARA documents. The final chapters of the thesis deploy fuzzy set logic techniques to identify and test the significance of various causal conditions in the adoption of performance measurement in ARAs, as a plausible answer to the research question.

The thesis deals with a comparison between legislation of revenues in the Czech accountancy on one hand and in International Financial Reporting Standards on the other hand. Text concerns itself with the theoretical determination of revenues, the description of the Czech accounting regulation of revenue and the revenue recognition in IFRS. The thesis on the basis of general criterions compares revenues with respect to the Czech accountancy and with regards to IFRS and solves revenue recognition for chosen business activities. The main aims of the thesis are the analysis and the comparison of the current regulations of revenues in chosen accounting systems.

Thesis (Ph. D. (Public Administration)) -- University of Limpopo, 2016 / Municipalities have the responsibility to deliver services to the communities in a fast and efficient manner, and to deliver these services there is a need for financial resources and institutional capacity. The challenge that beset the municipalities is that they struggle to collect revenue. There is a gap between available financial resources and the municipal expenditure needs largely as a result of the revenue collection challenges facing the municipalities. The revenue collection challenge therefore, needs to be adequately addressed for the municipalities to be successful. Municipalities have the right to finance their affairs through charging fees for services; imposing surcharges on fees, rates, levies and duties. The municipal council have the responsibility to implement and adopt tariff policies. These tariff policies must espouse the principles that ensure the equitable treatment of municipal service users. Tariff policies must also ensure that the amount paid by individual users for services is proportionate to their usage. Municipalities should, in terms of law, differentiate between the different categories of ratepayers, users of services, debtors, taxes, services and service standard. This study was based on the combination of both qualitative and quantitative research design. It followed a case study approach of comparative investigation between the Tshwane Metropolitan Municipality revenue collection and South African Revenue Service. The quantitative research was done through the administration of questionnaires to the ratepayers, corporate taxpayers and tax practitioners. This was complemented by the qualitative in-depth interview questionnaires administered to both South African Revenue Service and the Tshwane Metropolitan municipality to ensure that the data collected are both collaborated and diverse to enable the researcher to draw a balanced conclusion. In the light of the above, this study therefore investigated the strategies and legislative framework that is employed by the municipalities and contrasted with those that are used by the South African Revenue Service, with the aim of taking possible learnings that can be applied in the municipalities. The study concluded by proposing guidelines that can be used by municipalities in revenue collection.

One of the most fundamental aspects of a business is revenue generation. The revenue modeldescribes how revenues are collected by a firm through selling its products and services. Asrevenue generation is of great importance to a business, it is essential for companies to analyzetheir revenue model to establish whether their current model for revenue appropriation isoptimal.After conducting pre-interviews at Bisnode AB, the commissioner of this study, it becameevident that Bisnode has a need to analyze their current revenue model for its credit decisionservices in a structured manner to ensure its competitiveness and profitability. Thus, this thesiswill study revenue model analysis for firms active in the market for credit decision services.The research was conducted through a qualitative case study at Bisnode, based on semistructuredinterviews, observations and archival information. By identifying which aspects totake into consideration when analyzing a revenue model, and by grounding the findings into theexisting literature, a complete framework for revenue model analysis was developed. Theframework facilitates revenue model analysis and consists of five different dimensions: financial,customers, strategy, competition, and macro environment. Further, by linking the case studyfindings to the existing body of literature, a work process for revenue model analysis wasproposed. The outcome of this study is a framework for revenue model analysis to be used bycompanies offering credit decision services.The findings of the research have both theoretical, managerial and sustainability implications.From a theoretical standpoint, a framework for revenue model analysis that integrates strategicmanagement literature and studies on value proposition has been proposed. Furthermore, asearlier research has been mainly focused on the business model as a whole, this report studies therevenue model as an independent research topic and lays the foundation for further research inthe domain. From a managerial perspective, the outcome of the research enables managers offirms active in the credit decision services market to comprehensively analyze revenue models ina structured fashion. Finally, the revenue model analysis framework assesses a revenue model’scompetitiveness and profitability, which contributes to the economical sustainability of a firm.