MAT 117 /MAT117 Course Algebra 1B Weeks 1 – 9 All Discussion Questions Week 1 DQ 1 1. What four steps should be used in evaluating expressions? 2. Can these steps be skipped or rearranged? Explain your answers.3. Provide an expression for your classmates to evaluate. Week 1 DQ 21. Do you always use the property of distribution when multiplying monomials and polynomials? Explain why or why not. 2. In what situations would distribution become important?3. Provide an example using the distributive
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their financial statements. Australian Accounting Standards Board (AASB) 117 Leases incorporates IAS 17 Leases as issued and amended by the IASB. Entities that comply with AASB 117 as amended will simultaneously be in compliance with IAS 17 as amended‚ with the exception of entities preparing general purpose financial statements under Australian Accounting Standards – Reduced Disclosure Requirements.[1] Paragraph 4 of AASB 117 defines a lease as: A lease is an agreement whereby the lessor conveys
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workings. Source: Adapted from Picker‚R.‚ Leo‚ K.‚ Loftus‚J.‚ Clark‚ K.‚ and Wise‚ V. (2009). Australian Accounting Standards (2nd ed.). John Wiley and Sons. Part 2 (weighting 5%‚ Word limit: 1000) Critically discuss the proposition that “IAS\AASB 117 does allow creditors to make appropriate risk evaluations of a firms statement of financial position”. References to be made to published journals. ASSIGNMENT 2 (WEIGHTING 15%‚ WORD LIMIT:2000) The IASB took a comprehensive review
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STATE HOW BOTH COMPANIES SHOULD CLASSIFY THE LEASE. GIVE REASONS FOR YOUR ANSWER. Both Purple Ltd and Lemon Ltd should classify the lease as a finance lease based on the below. Present value of all future lease payments = ($8‚000 – $1‚000) X 3.8897 = $27‚228 Present value of guaranteed residual value = 50% X 7‚200 X 0.6499 Total present value = $27‚228 + $2‚340 of the Bulldozer The present value of the minimum lease payments is substantially all of the fair value of the leased
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Value-in-Use (AASB 136 (30)). The Telstra Ltd management makes assumptions that future operating performance (or cash flow) of the asset can be appropriately predicted based on historical performances and expected future performances (Telstra‚ p94). This complies with AASB 136 (33)‚ (34) and (35). Future net cash flows have to be discount back to present value (AASB 136 (56)). The assumption that Telstra has makes is that the discount rate will be based on the weighted average cost of capital (AASB A17)
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ACC3120 Advanced financial accounting Week 11 Tutorial: Extractive Industries 1 HPHAH‚ chapter 20‚ question 1 Outline the five phases of a company’s operations in the extractive industries. Answer: It has been suggested that there are five identifiable phases in the discovery and recovery of minerals‚ oil and natural gas. Four of these phases are “pre-production” phases‚ which means that they occur before production begins. The pre-production phases are exploration‚ evaluation‚ development and
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Harvey Norman. This report will mainly focus on their core business‚ industry‚ operating activities‚ financial performance‚ PPE & intangible and leased assets & liabilities. Finally‚ independent auditor’s report will discuss their compliance with the AASB standard. COMAPNY Introduction Being a leader in retail stores of electrical‚ computer‚ furniture‚ entertainment and bedding goods‚ Harvey Norman was founded in
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Hence financial reports ending on 30 June 2014 cannot use this revised AASB 1031. Given this‚ in this course in 2014 we will not consider the revised AASB 1031. The Handbook will not include the revised AASB 1031 but will include the version of AASB 1031 that we consider in this course in 2014. What is materiality? Materiality is defined as Omissions or misstatements of items are material if they could
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Compiled AASB Standard AASB 138 Intangible Assets This compiled Standard applies to annual reporting periods beginning on or after 1 July 2009. Early application is permitted. It incorporates relevant amendments made up to and including 25 June 2009. Prepared on 30 October 2009 by the staff of the Australian Accounting Standards Board. AASB 138-compiled 2 COPYRIGHT Obtaining Copies of Accounting Standards Compiled versions of Standards‚ original Standards and amending Standards (see Compilation
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Accounting Disclosure Analysis on Horizon Oil Ltd Exclusive Summary This report aims to examine whether Horizon Oil Limited (HZN) satisfies various disclosure requirements of the Corporations Act 2001 and Australian Accounting Standards by analyzing HZN’s annual report for the year ended 31 June 2013. This annual financial report covers the consolidated financial statements for the group‚ consisting of Horizon Oil Limited and its subsidiaries. First‚ a brief introduction is given. It includes
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