From Evernote: | Midterm Cases | Chapter 1: Davis v. Baugh Indus. Contractors‚ Inc. Trial Court dismissed the suit saying it was property owner’s fault. Issue: An employee of the property owner was killed when a concrete wall collapsed. Should the risk of liability stay only on the property owner‚ or extend to a contractor? Rule: For the past forty years it has been the rule that liability belongs only to the property owner
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Evaluate the Effectiveness of Law Reform in Australia Law Reform in Australia is effective in varying degrees. Through Native Title Reform and Law Reform in Sport‚ the effectiveness of Law Reform in Australia is further outlined. The term ‘Native Title’ refers to the right of Indigenous people to their traditional land. In Australia it has a legal significance of the right to an area of land‚ claimed by people whose ancestors were the original inhabitants of the land before European settlement
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in length. Applicable Professional Pronouncements: ASC 270‚ Interim Reporting (Accounting Principles Board Opinion 28‚ Interim Financial Reporting) ASC 330‚ Inventory (Accounting Research Bulletin 43‚ Restatement and Revision of Accounting Research Bulletins (ARB 43) as amended by FASB Statement No. 151‚ Inventory Cost. and Emerging Issues Task Force 86-13‚ Recognition of Inventory Declines at Interim Reporting Dates (EITF 86-13)) ASC 905‚ Agriculture (Statement of Position 85-3‚ Accounting
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discuss the basis for your determination. Copyright 2007 Deloitte Development LLC All Rights Reserved. Case 10-4: Lack of Information MEMO To: From: Subject: Date: Page 2 Audit Engagement Team Controller‚ Lack of Information ASC 410-20 — Asset Retirement Obligations Summary December 31‚ 2010 Identification and Analysis of Potential Asset Retirement Obligations Lack of Information (LOI) owns and operates 50 warehouses throughout the country. As part of LOI’s efforts to
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service provider for the length of the contract; making Velocity Cellular Service multiple deliverables. Power Starterpack compromises of a single deliverable because the only service it is providing is the sale of the activation card. According to ASC 605-25-25-5‚ “In an arrangement with multiple deliverables‚ the delivered item or items shall be considered a separate unit of accounting if both of the following criteria are met: a. The delivered item or items have value to the customer on a standalone
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Introduction to the Arts Spring 2013 Dofflemyer Term Paper Assignment: The Draft and Final Term Paper For this assignment you may select one object from one of two museums in San Francisco: 1) Asian Art Museum 200 Larkin St. San Francisco‚ CA 94102 Tel. (415) 581-‐3500 Hours:
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Transitions and Organizational Patterns Part 1 Writers don’t let their thoughts wander aimlessly. They think logically. They organize details in patterns. In the written language these patterns help you follow ideas more easily and‚ therefore‚ improve your understanding of the text. Authors use transition words and phrases to create patterns within their writing. The following are common patterns of organization and transitions used in writing. Time Order/Process Pattern Ideas or events are presented
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should assume that all amounts discussed below and those included in the data tables are U.S. dollars in thousands. Instrument 1 — Collateralized Debt Obligation • FFC classifies its collateralized debt obligation (CDO) within Level 3 of the ASC 820‚ Fair Value Measurement‚ fair value hierarchy as of December 31‚ 2012. • FFC identified October 1‚ 2012‚ as the date on which the CDO’s fair value measurement changed in classification from Level 2 to Level 3. • FFC determined the
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Use the authoritative literature to explain your answer. As the explanation below illustrates‚ the multiple deliverables sold by AOI to CMI should be treated as two separate units of accounting (the assembly line system and its installation). FASB ASC 605-2525-5 presents specific criteria that must be met for the multiple deliverables in revenue-generating arrangements to be treated as separate units of accounting. The questions essentially posed by these criteria are the following: 1. Does the
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the ski resorts have been eliminated and the company will not have any more involvement in operating any ski resorts (FASB‚ 2011‚ ASC para. 205-20-45-1). The gain on the sale of the ski resorts should not be considered an extraordinary gain. The only way this event would be an extraordinary event is if the event was unusual in nature and infrequent (FASB‚ 2011‚ ASC para. 225-20-45-2). Having warm weather is neither unusual nor infrequent since no one can control the weather conditions. In
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