later due to significant market value shrink of Poor Son. After that‚ the bankruptcy court reopened the bidding process and recommended Parent’s plan of reorganization in August 2010. Finally‚ Parent received final confirmation of Poor Son’s plan. 1. Does Parent’s purchase of a legal subsidiary in bankruptcy qualify as a business combination under ASC 805? According to ASC 805-10-20‚ the definition of business combination is “a transaction or other event in which an acquirer obtains control of
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to understand the ethic trends because we need to know the expectations of the public. After Enron and other banking issues caused some major changes in the new expectation in the business world. The ethics trends have slowly been changing but after what happened with set everything in place to set higher standards for the ethics. The accountant must understand the consequences of cutting corners and acting unethically. Times are changing and with the increased risk of errors causing problems for
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← Abstract Faced with various issues of international accounting in cultural‚ economic‚ ethical and social level‚ after comparing US with China about the GAAP‚ analyzing the differences and difficulties in global accounting standard‚ it’s necessary to separate different accounting standards because of the diversification in different countries‚ it shows that accountancy professions play an important role in capital market‚ which can provide useful‚ relevant and reliable information to interested
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CHAPTER 4 HISTORICAL RESEARCH HISTORY-is the search for knowledge and the truth‚ a searching to find out. -is any integrated narrative or description of past events or facts written in a spirit of critical inquiry for the whole truth. HISTORICAL RESEARCH/HISTORICAL METHOD OF RESEARCH -is a process of selecting the area or topic to write a history about‚ collecting data about events that occurred on it‚ collating the data‚ sifting the authentic from non-authentic
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2-1 BU8101 Accounting: A User Perspective Lecture 2 The Accounting Cycle Wednesday‚ 17 August 2011 Mrs. Ho Yin Kheng S3-01C-88 Nanyang Business School Nanyang Technological University Email: yklau@ntu.edu.sg Tel: 67905694 2-2 LO 2 Lecture Outline 1. Analyzing Business Transactions 2. Recording Process a. b. c. d. e. f. The Source Document The journal The accounts Debit and Credit rule Recording process illustrated Unadjusted trial balance 3. Adjusting entries
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Benefits Of The Work Measurement Methods Manufacturing better‚ more durable and less-costly products has always been an important part of the industrial process for the designers to think about and the developing technology nowadays helps the corporations to design better technics‚ better methods and these help the corporations to reduce the costs‚ increase the products by decreasing the time that is necessary to manufacture those products. People working in industries try to find more efficient
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[Enter Post Title Here] Eli Lilly’s Financing Decisions A. Common stock at December 31‚ 2001 * Authorized shares: 3‚200‚000‚000 shares * Issued shares: 1‚124‚333‚530 shares * Outstanding shares: 1‚123.348‚749 shares Preferred stock at December 31‚ 2001 * Authorized shares: 5‚000‚000 shares B. In December 31‚ 2001‚ the company has purchased $1.41 billion of its announced $3.0 billion share repurchase program and acquired approximately 7.2 million. In connection
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Alpha Corporation 1991 1990 1989 Major sources of cash Sale of Assets and discontinued operations‚ Proceeds from long term debt‚ Major uses of cash CFO > NI? Major reasons for difference between CFO and NI Is CFO > Capex? Is CFO > Capex + Dividends? If CFO < Capex + Dividends‚ how did the company finance Capex + Dividends? Trend in Net Income Trend in CFO Trend in Capex Trend in major working capital accounts Overall assessment of the financial strength of the
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ACCOUNTING NOTES FOR MY PERSONAL USE 4/12/2013 ELISHA VERIWA | Introduction to Accounting Accountancy is the process of communicating financial information about a business entity to users (stakeholders) such as shareholders and managers (Elliot‚ Barry & Elliot‚ Jamie: Financial accounting and reporting). Accounting has been defined as: * the art of recording‚ classifying‚ and summarizing in a significant manner and in terms of money‚ transactions and events which are‚ in part at least
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ACCT 2410 QUIZ 1 Chapters 11 - 14 MASTER – V1 & V2 Name: __________________________ Student #:_________________ PLEASE PRINT When you are finished please hand in your quiz at the front and QUIETLY leave the room. Class will resume at 2:00//8:00 at which time we will review the solutions to the quiz and spend the balance of the time on a student directed review session. Materials allowed–normal writing materials and approved non–programmable calculators that do not
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