Regulating Inventory – An Examination of AASB 102 “Inventories” Inventories are in essence what organisations hold with an intention to sell‚ however directly or indirectly. For most businesses‚ this is how their profits are made‚ and it is reasonable to assume that these items account for much of an organisation’s activities. Such a big influence on indicators of financial performance and position warrants an equally large need for regulation to ensure that users of the financial statements are
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Agency Conflict 2: Stockholders versus Creditors Conflict of interest can also arise between stockholders and creditors. Stockholders may take decisions that increase their return on debt which eventually leads to decrease in the value of the debt. Creditors also have a claim on the earnings and assets of the firm for the payment of interest and principal and in case of bankruptcy. Creditors are providers of long term debt of capital. They lend funds at rates that are based on; 1. The risk of
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Striving to have a better life has always been seen as a determination for many people and in “Vengeful Creditor” by Chinua Achebe it is no different. In comparison to the rich‚ the less fortunate have not had the opportunity to partake in the many opportunities that the wealthy are allowed to partake in and in this case it is the right to an education that is seen as the main conflict in “Vengeful Creditor.” Not that the lower class is forbidden to attend school‚ but the fees of school is the barrier which
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Field Note 117: field radius growth is definitely not linear for linear control voltage increase. Ben sat back from the work bench and took several calming breaths. His sandwich sat on the test plate on top of the field projector array. It was a turkey club...the sandwich that is. The test plate was just a paper plate and the field projector array looked like a vintage ham radio and a movie projector had gotten very intimate. He couldn’t deny the results though. Little fella might have a touchy
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Name: Dinh Thi Quyen Class: A4 – LT6B Number: 24 Essay: Importance of financial statements to managers‚ investors and creditors Financial statements are important reports. They show how a business is doing and are very useful internally for a company’s stockholders and to its board of directors‚ its managers and some employees‚ including labor unions. Externally‚ they are important to prospective investors‚ to government agencies responsible for taxing and regulating‚ to lenders such as
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Fluke 117; True RMS Multimeter review The Fluke 117 true Rms is a member of the Multimeter fluke series. It is a very unique device with distinctive features. This is the main reason why its stands out from the rest of the Fluke Multimeter series. Fluke 117 can be used in very high demanding settings and buildings such as schools and hospitals among other commercial settings. This Fluke Rms Multimeter is not only capable of measuring frequency and capacitance but also resistance‚ voltage and current
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------------------------------------------------- The Requirements of SFAS 116 and 117 and its effect on the financial statements The Statement of Financial Accounting Standards (SFAS) 116 and 117 are standards set for not- for-profit and non-governmental entities. The standards account for contributions and financial statement presentation (Granof‚ Khumawala‚ 2011). SFAS 116 defines how contributions are designated. Contributions can have donor-imposed restrictions. The standard defines
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My Physical Fitness Assessment PED 117- Physical Fitness for Law Enforcement Carlos Canizales Professor Gotay April 05‚ 2012 Physical fitness is defined as‚ “The ability to perform moderate to vigorous physical activity on a regular basis without excessive fatigue.”(Donatelle‚ P.296) There are two parts of physical fitness made up of eleven components‚ known as skill and health. The skill part of physical fitness contains six components and the health section contains five components‚ which
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Financial Instruments (AASB 9) was issued to replace IAS 39 (AASB 139) Discuss critically the shortcomings and criticisms of IAS 39 (AASB 139) which have given rise to IFRS 9 (AASB 9). How will the application of IFRS 9 (AASB 9) impact on the accounting for financial instruments in financial reports? Your discussion should be illustrated and informed by reference to two listed companies (ASX or other sources for the most recent years)‚ that are either using IAS 39 (AASB 139) or that have decided
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liquidator to do all he can to recover the creditors money. I would start by saying that Chablis ltd and Muscadet ltd are wholly owned subsidiaries and are separate legal entities in their own right. When Brandy loaned the two subsidiary companies money‚ the loans were secured by fixed and floating charges over all of their assets‚ so first and foremost‚ this would need to be paid back with the money recovered when winding up these two businesses. The other creditors‚ which could be electricity companies
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