SEMINAR 12: COVENANTS IN LEASES Leasehold covenants are contractual obligations contained in leases‚ between the landlord and the tenant. There are generally 3 types: • those implied at common law in every lease‚ subject to contrary provision • those implied by statute‚ even in the face of contrary provision • those that are the result of the parties’ express agreement to that effect. A) IMPLIED COVENANTS I) BY LANDLORD A) QUIET ENJOYMENT: Every lease contains an IMPLIED COVENANT
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EXAM 1 – FORM A ACC 242 Fall‚ 2013 Name__________________________________ 1. The following information relates to a job cost system in a factory: For the year Estimated Actual Factory Overhead $600‚000 $635‚000 Direct Labor $500‚000 $525‚000 Direct Materials $500‚000 $520‚000 Direct Labor Hours 300‚000 hrs. 290‚000 hrs. The factory uses a predetermined overhead rate per direct labor hour to apply factory overhead. During the year jobs which cost $1‚200
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ACC-1 Bachelor’s Degree Programme (BDP) Application Oriented Course Organizing Child Care Services ASSIGNMENT 1 July 2011/January 2012 [pic] SCHOOL OF CONTINUING EDUCATION Indira Gandhi National Open University Maidan Garhi‚ New Delhi -110068 Application Oriented Course in Organising Child Care Services (ACC-1) ASSIGNMENT 1 July 2011/January 2012 Course : ACC
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Introduction Accounting for leases is regulated by the Financial Accounting Standards Board (FASB) in United States .Standards for accounting leases have been effective since 1977 (Accounting Standard Board‚ 2004). The primary standard for lease accounting is Statement of Financial Accounting Standards No. 13 (FAS 13). According to FASB (1976)‚ a lease is an agreement conveying the right to use property‚ plant‚ and equipment (PPE) usually for a stated period of time. Examples of assets that can
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direct real estate investments: direct ownership of the underlying asset.Two possibilities of direct investments in Hong Kong arise in the LL case: ownership can be required or one should engage in direct development of assets to include in the portfolio. High returns are generated when investing directly in real estate; this is generated by cash flows from lease contracts. They can use more debt financing which can favour their tax situation. Another merit is the possible increase in NPV. By owning
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1. | Introduction | The importance of leasing business is enhancing with the expansion of industrial sector in Bangladesh. Before the advent of leasing companies in Bangladesh commercial banks and development finance institutions (DFIs) have been the traditional lending institutions in Bangladesh. In fact‚ the concept of lease financing is a relatively new one in the country. Initially‚ leasing companies had to adopt the role of educators to make Bangladeshi entrepreneurs aware of the benefits
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Critically reflect on the importance of capital budgeting. Why is this heated subject in many boardrooms? How does capital budgeting promote the financial health of an organization? How will you use the financial techniques you have learned this week to promote the financial health of your organization? A capital budget is very important for a business. It is a heated subject because a decision about capital budgeting can help the business to determine if the proposed investments or project are
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consistent across all geographical areas. The Financial Accounting Standards Board (FASB) is the independent body that is responsible for the creation of GAAP. The board is the standard setting body in charge of standards for nongovernmental companies operating in the United States. Since 2002‚ the IASB and FASB have been working together to improve and converge U.S. GAAP and IFRS. The United States is not the only country working toward convergence‚ as of 2009‚ Japan and China were both working toward
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Contract-Lease Assignment This Residential Lease Agreement (hereinafter “Lease”) is entered into this the 10-01-11‚ by and between the Lessor: George Murphy‚ (hereinafter referred to as “Landlord”)‚ and the Lessee(s): Benjamin Potter for the Potter Corporation. All Lessees (hereinafter referred to collectively as “Tenant”)‚ are jointly‚ severally and individually bound by‚ and liable under‚ the terms and conditions of this Lease. 1. GRANT OF LEASE: Landlord does hereby lease unto Tenant
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there car will cost more then their house (Bauldings‚ 2004). Lease Versus Buying Obviously in today ’s financial world there are numerous options to consider when making this financial decision. Essentially the decision you want to make is based on what is the best way to finance this purchase that meets your particular needs. It is also important to differentiate between acquiring business or personal assets (Bauldings‚ 2004). In either case the fundamental issues are pay cash‚ finance at a bank or
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