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These excerpts taken from the SMG 10-K filed Dec 3, 2008. Revenue
Recognition and Promotional Allowances
Most of our revenue is derived from the sale of inventory, and
we recognize revenue when title and risk of loss transfer,
generally when products are received by the customer. Provisions
for payment discounts, product returns and allowances are
recorded as a reduction of sales at the time revenue is
recognized based on historical trends and adjusted periodically
as circumstances warrant. Similarly, reserves for uncollectible
receivables due from customers are established based on
management’s judgment as to the ultimate collectibility of
these balances. We offer sales incentives through various
programs, consisting principally of volume rebates, cooperative
advertising, consumer coupons and other trade programs. The cost
of these programs is recorded as a reduction of sales. The
recognition of revenues, receivables and trade programs requires
the use of estimates. While we believe these estimates to be
reasonable based on the then current facts and circumstances,
there can be no assurance that actual amounts realized will not
differ materially from estimated amounts recorded.
Revenue Recognition and Promotional Allowances Most of our revenue is derived from the sale of inventory, and we recognize revenue when title and risk of loss transfer, generally when products are received by the customer. Provisions for payment discounts, product returns and allowances are recorded as a reduction of sales at the time revenue is recognized based on historical trends and adjusted periodically as circumstances warrant. Similarly, reserves for uncollectible receivables due from customers are established based on management’s judgment as to the ultimate collectibility of these balances. We offer sales incentives through various programs, consisting principally of volume rebates, cooperative advertising, consumer coupons and other trade programs. The cost of these programs is recorded as a reduction of sales. The recognition of revenues, receivables and trade programs requires the use of estimates. While we believe these estimates to be reasonable based on the then current facts and circumstances, there can be no assurance that actual amounts realized will not differ materially from estimated amounts recorded. These excerpts taken from the SMG 10-K filed Nov 25, 2008. Revenue
Recognition and Promotional Allowances
Most of our revenue is derived from the sale of inventory, and
we recognize revenue when title and risk of loss transfer,
generally when products are received by the customer. Provisions
for payment discounts, product returns and allowances are
recorded as a reduction of sales at the time revenue is
recognized based on historical trends and adjusted periodically
as circumstances warrant. Similarly, reserves for uncollectible
receivables due from customers are established based on
management’s judgment as to the ultimate collectibility of
these balances. We offer sales incentives through various
programs, consisting principally of volume rebates, cooperative
advertising, consumer coupons and other trade programs. The cost
of these programs is recorded as a reduction of sales. The
recognition of revenues, receivables and trade programs requires
the use of estimates. While we believe these estimates to be
reasonable based on the then current facts and circumstances,
there can be no assurance that actual amounts realized will not
differ materially from estimated amounts recorded.
Revenue Recognition and Promotional Allowances Most of our revenue is derived from the sale of inventory, and we recognize revenue when title and risk of loss transfer, generally when products are received by the customer. Provisions for payment discounts, product returns and allowances are recorded as a reduction of sales at the time revenue is recognized based on historical trends and adjusted periodically as circumstances warrant. Similarly, reserves for uncollectible receivables due from customers are established based on management’s judgment as to the ultimate collectibility of these balances. We offer sales incentives through various programs, consisting principally of volume rebates, cooperative advertising, consumer coupons and other trade programs. The cost of these programs is recorded as a reduction of sales. The recognition of revenues, receivables and trade programs requires the use of estimates. While we believe these estimates to be reasonable based on the then current facts and circumstances, there can be no assurance that actual amounts realized will not differ materially from estimated amounts recorded. This excerpt taken from the SMG 10-K filed Nov 29, 2007. Revenue
Recognition and Promotional Allowances
Most of our revenue is derived from the sale of inventory, and
we recognize revenue when title and risk of loss transfer,
generally when products are received by the customer. Provisions
for payment discounts, product returns and allowances are
recorded as a reduction of sales at the time revenue is
recognized based on historical trends and adjusted periodically
as circumstances warrant. Similarly, reserves for uncollectible
receivables due from customers are established based on
management’s judgment as to the ultimate collectibility of
these balances. We offer sales incentives through various
programs, consisting principally of volume rebates, cooperative
advertising, consumer coupons and other trade programs. The cost
of these programs is recorded as a reduction of sales. The
recognition of revenues, receivables and trade programs requires
the use of estimates. While we believe these estimates to be
reasonable based on the then current facts and circumstances,
there can be no assurance that actual amounts realized will not
differ materially from estimated amounts recorded.
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