Harnischfeger 1. Describe clearly the accounting changes Harnischfeger made in 1984 as stated in Note 2 of its financial statements. In the 1984 the corporation computed depreciation expense on plants‚ machinery and equipment by using the straight-line method for financial reporting purposes. These changes were made to provide a more equitable allocation of the cost of the plants. 2. What is the effect of the depreciation accounting method change on the reported income in 1984? How will
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Read the “Harnischfeger Corp” case study and answer the following questions. Submit your completed assignment no later than the last day of Week 2. Describe clearly the accounting changes Harnischfeger made in 1984 as stated in Note 2 of its financial statements. They included products purchased from Kobe Steel in their net sales causing them to increase by $5.4 million. They changed the way they compute depreciation expense by using the straight-line method‚ resulting in an increase in net income
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Harnischfeger Corp 1. Describe clearly the accounting changes Harnischfeger made in 1984 as stated in Note 2 of its financial statements. On page 17‚ note 2 states that in 1984 Harnischfeger altered their depreciation from a direct method to the straight-line method for financial reporting purposes. They also included the products purchased from Kobe Steel‚ LTD and sold by them in their net sales instead of stating only the gross margin per unit. An adjustment of the residual values on certain
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Topic Help/Hinder/Both Explanation New medical ideas Both Roger Bacon was a 13th century priest who believed that doctor’s should do their own original research instead of using old doctor’s ideas however his ideas were rejected and he was seen as a heretic as the Pope felt new ideas would challenge the Church’s ideas. Knowledge of anatomy Hinder Even the most famous medical schools of Montpellier and Salerno‚ dissections were only described by teachers using recycled knowledge of Galen and others
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Business Plan Prepared by: May thu Khin Date: 28th of November‚ 2012 Address: 3/1310‚ Centre Road‚ Clayton south‚ VIC 3169‚ Melbourne‚ Australia Phone: (03)95455688 The contents of this document are the property of Amara Restaurant Pty Ltd and cannot be copied‚ released or used for any purpose unless authorized by Amara Pty Ltd. All intellectual and property rights remain with the property holder. Executive Summary Amara Burmese & Thai restaurant is a fine dining restaurant
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Essay Topic : Do memories hinder or help people in their effort to learn from the past and succeed in the present? Essay Without our past‚ our future would be a tortuous path leading to nowhere. In order to move up the ladder of success and achievement we must come to terms with our past and integrate it into our future. Even if in the past we made mistakes‚ this will only make wiser people out of us and guide us to where we are supposed to be. This past year‚ I was auditioning for the fall
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Harnischfeger Corp case study 1. Describe clearly the accounting changes Harnischfeger made in 1984 as stated in Note 2 of its financial statements. Note 2 (pg. 17) states that in 1984 Harnischfeger changed their depreciation method that was being used to expense their plants‚ machinery and equipment from the direct method to the straight-line method for financial reporting purposes. An adjustment of the residual values on certain machinery and equipment was made. Harnischfeger also included
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the “Harnischfeger Corp” case study and answer the following questions. Submit your completed assignment no later than the last day of Week 2. 1. Describe clearly the accounting changes Harnischfeger made in 1984 as stated in Note 2 of its financial statements. • Based on the financial statements in 1984 Harnischfeger made changes from the previous year‚ the corporation computed depreciation expenses on plants‚ machinery and equipment using the straight-line method. Prior to the accounting changes
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Describe clearly all of the accounting changes Harnischfeger made in 1984. -In 1984‚ there was a switch from accelerated to straight line depreciation retroactively. Because of this‚ the depreciation expense decreased. -The estimated depreciation lives on certain U.S. plants‚ machinery and equipment changed. The economic life of these assets was increased‚ so the depreciation expense was lowered. -There was an improvement in the minimum pension benefit. This change produced a lower pension expense
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Harnischfeger Corporation Teaching Note INTRODUCTION The purpose of the "Harnischfeger Corporation" case is to expose students to the managerial motives for making major financial reporting policy changes. Generally accepted accounting principles (GAAP) allow companies wide latitude in the choice of accounting policies. After a firm chooses a set of accounting policies‚ current accounting rules permit changes from one alternative policy to another at the discretion of the management
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