Quickflix describes its activities as follows: The principal activities of the Company during the course of the
Question:
Quickflix describes its activities as follows:
The principal activities of the Company during the course of the financial year were that of the development and operation of an online movie subscription and retail service.
In its Operating and Financial Review the company notes:
Quickflix is Australia’s leading online movie rental subscription service, offering the largest range of movie and TV shows available anywhere. Subscribers access their selection of movies and TV titles online and have their choice delivered in DVD or Blu-ray discs direct to home by post. Subscription plans are affordably priced for all Australians and provide a choice of one, two or three discs out-at-a-time with unlimited rotations throughout the month; no late fees and postage included. Later this year Quickflix will launch its digital streaming service accessible over the internet via connected TVs, personal computers and handheld devices such as mobile phones and tablets.
Outline when the company is likely to recognise revenue for its main services.
Step by Step Answer:
Financial Accounting An Integrated Approach
ISBN: 9780170349680
6th Edition
Authors: Ken Trotman, Michael Gibbins, Elizabeth Carson