On December 15‚ 2010‚ Big Bear Power entered into a lease agreement with Goliath Co. for a combustion turbine. In order for Big Bear to properly account for the transaction‚ the terms and provisions of the lease agreement must be evaluated and important decisions must be made. My discussion to follow will be presented in three parts. Part one will present the evaluations that must be made by Big Bear in terms of accounting for the lease. Part two will present the lease details and provisions
Premium English-language films Gas turbine Marketing
Case 08-4 The Bear Minimum Big Bear Power (Big Bear) is a widely held public utility company that has posted strong financial results for several years. Big Bear has positive cash flow‚ and it is in compliance with all its debt covenants. Big Bear leases a combustion turbine from Goliath Co. (Goliath) for a 10-year noncancelable term. The lease agreement is signed on December 15‚ 2010‚ and Big Bear’s right to use the turbine begins on January 1‚ 2011. Various provisions and other facts from
Premium Renting Leasing Lease
References: Schroeder‚ R.G‚ Clark‚ M.W.‚ & Cathey‚ J.M. (2011). Financial accounting theory and analysis: Text and cases‚ 10th ed. Hoboken‚ N.J.: John Wiley & Sons‚ Inc. Financial Accounting and Standards Board Codification 840-10-25‚ Accounting for leases. Retrieved from http://asc.fasb.org/link&sourceid=SL4508846-113306&objid=6524565
Premium Pension Investment
Impairment or Financial reporting disposal of longdevelopments lived assets Revised October 2011 To our clients and other friends ASC 360-10‚ Impairment and Disposal of Long-Lived Assets (ASC 360)‚ provides accounting guidance for impairments of assets that are held for use‚ held for sale and to be disposed of by other means. In one of its more challenging aspects‚ ASC 360-10 requires the use of fair value measurements for impairment of assets that are unique and not widely traded. The following publication
Premium Asset Balance sheet Goodwill
Student Cases with Solutions to accompany Accounting & Auditing Research: Tools & Strategies (8th edition) NOTE: In addition to the end-of-chapter exercises which serve as short cases you will find the following cases arranged by course title that can also be utilized as short cases that require the student to access the authoritative literature to address the issue presented in the case. Other excellent sources of longer and more detailed cases include the Deloitte Trueblood cases and cases provided
Premium Income statement Balance sheet Financial statements
people with an Autism Spectrum Condition (ASC) and will use my own experience as a support worker in Adult Services working with adults with an ASC. I will reference relevant quotes in support of my knowledge of ASC and I will concentrate on the needs of people with an ASC in relation to triad of impairments (L Wing 1996)‚ diagnostic criteria and psychological functioning (V Cumine et al 1998). I have decided to refer to the Autism Spectrum as a condition (ASC) rather than a disorder (ASD) to follow
Premium Autism Asperger syndrome Psychology
Main Stream Primary Settings. The number of pupils with autistic spectrum conditions (ASC) being educated in mainstream settings is increasing (Humphrey 2008). Inclusion in main stream education can be extremely beneficial for pupils on the autism spectrum (Great Britain. Department for Children‚ Schools and families‚ 2009)‚ however there is growing concern about the educational experiences of pupils with ASC. Only 12% of parents with children in an unsupported mainstream primary school are very
Premium Teacher Education Psychology
plaintxt should be entered in all capitals numkey=(65:90); %stand for Letters A~Z encrypt=zeros(1‚length(plaintxt)); %vectors with the length of your massage %equivalents of the encrypted message. for ASC=1:length(plaintxt) num=find(numkey==plaintxt(ASC)); encrypt(ASC)=key(num); end end ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- -------------------------------------------------
Premium Cryptography
Professional Pronouncements ASC 450‚ Contingencies (ASC 450) ASC 605 -10 -S99‚ Revenue Recognition: Overall: SEC Material (ASC 605 10 - S99) (formerly SEC Staff Accounting Bulletin Topic 13.A.3(c)‚ Question 2‚ “What factors should be considered in the evaluation of whether a remaining obligation related to a unit of accounting is inconsequential or perfunctory? ” (Quest ion 2 of SAB Topic 13.A.3(c)) ) ASC 605 -20‚ Revenue Recognition: Services (ASC 605 - 20) ASC 605 -25‚ Revenue Recognition:
Premium Generally Accepted Accounting Principles Pricing Price
would argue that ASC 470-10 is not applicable in this situation. Product “X” is undeveloped and the status is undetermined‚ therefore‚ payments are not guaranteed through the future revenues of this particular product (ASC 470-10-25-1). Further‚ based on ASC 470-10-25-2‚ these factors do not apply in this case to qualify as a debt. However‚ the facts below would show why it is more appropriate to account for the financing of the research and development for product “X”‚ under ASC 730-20: 1. The
Premium Contract Finance