CHAPTER 3 THE REPORTING ENTITY AND CONSOLIDATED FINANCIAL STATEMENTS ANSWERS TO QUESTIONS Q3-1 The basic idea underlying the preparation of consolidated financial statements is the notion that the consolidated financial statements present the financial position and the results of operations of a parent and its subsidiaries as if the related companies actually were a single company. Q3-2 Without consolidated statements it is often very difficult for an investor to gain an understanding
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Australasian Accounting Business and Finance Journal Volume 1 Australasian Accounting Business and Finance Journal Issue 1 Australasian Accounting Business and Finance Journal Article 1 Accounting Research and Theory: The age of neoempiricism M. Gaffikin University of Wollongong‚ gaffikin@uow.edu.au Follow this and additional works at: http://ro.uow.edu.au/aabfj Copyright ©2007 Australasian Accounting Business and Finance Journal and Authors. Recommended Citation Gaffikin‚ M.‚ Accounting Research
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1. IntroductionPensonic Company Pensonic is one of the most successful trading companies in Penang‚ Malaysia that sells a wide variety of electrical appliances. In addition to its own brand “Pensonic”‚ the company also owns the German brand “Lebensstil Kollektion” and owns the sole-distribution rights for the Dutch brand “Princess” in Malaysia. Pensonic also established a mass production hub and international distribution network of electrical home mechanism and an international distribution network
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A certain colleague From: Lijuan Wang（Lisa） Date: November 01‚ 2012 Subject: Job Share Memo Introduction: Now I am working at “Beijing Sino Lawyers’ Firm”. My duty is to assist lawyer Tao Feng in dealing with the paperworks and clients. To be specific‚ my job is to act as an information collector‚ a law documents writer‚ a cases assistance‚ a data organizer‚ and a clients communicator. Our firm consist of several senior partners‚ normal lawyers‚ and many assistances. In order to work more
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CHAPTER 2 21. Generally accepted accounting principles a. are fundamental truths or axioms that can be derived from laws of nature. b. derive their authority from legal court proceedings. c. derive their credibility and authority from general recognition and acceptance by the accounting profession. d. have been specified in detail in the FASB conceptual framework. 22. A soundly developed conceptual framework of concepts and objectives should a. increase financial statement users’
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Accounting: Topic 6: Analysis And Interpretation Of Financial Statements (Part 2) Capital Structure Analysis Proportion of debt financing relative to equity financing (=gearing or leverage) * Reflects the entity’s financing decisions * Investments in assets are funded externally by liabilities‚ or internally by owner’s as shown in accounting equation (A=L+OE) Debt to equity ratio: Total liabilities/ Total equity x 100=x% Debt ratio: Total liabilities/ Total asset x 100=x%
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YQZ Manufacturing Inc. To: Barry Loben‚ Chief Operating Officer From: Yue Qun Zhang‚ Operations Manager Subject: Parking and Traffic Problems During Shift Changes Date: November 2‚ 2011 Introduction As a medium sized manufacturing firm in the Kitchener-Waterloo region‚ there has been significant growth in the past few years. In alleviate potential problems caused by this growth‚ YQZ Manufacturing Inc. decided to create a third manufacturing line for the three shifts that are in everyday
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To: Prof. Lang From: A. Foster Date: November 23‚ 2010 Re: Smith’s defenses to dog bite Questions Presented: 1) Under Florida Statute Section 767.04 which sets the defenses in which a dog owner can avoid liability due to injury caused by a dog bite‚ can dog owner avoid liability by using the defense of provocation for injuries caused by a dog bite when the owner’s dog bit an 8 year old child‚ when said minor while dressed in a cat costume came onto our client’s property‚ noticed client’s Yorkshire
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Phoenix Advertising Interoffice Memorandum DATE: August 17‚ 2012 TO: Managing Director; Planning Director; Creative Director FROM: Vice President of Human Resources SUBJECT: Roanoke Branch Update In recent months‚ the Roanoke branch office has been experiencing difficulties. After a change in management‚ the graphic designers and copywriters have made it apparent that their work is no longer being received well. Although it is not completely clear‚ this employee upset may be the cause
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Memorandum To: Mr. David Overton‚ Chief Executive Officer CC: Board of Directors From: Junior Analyst Date: February 6‚ 2013 Re: How Cheesecake Takes The Cake Through my comparative analysis using the five key financial indices of The Cheesecake Factory and P.F. Chang’s China Bistro‚ CAKE seems to be in fact “taking the cake”. Not only the past three years of our financial statements show steady growth and great financial strength‚ but when you compare our financials to P.F. Chang’s we appear
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