Answers Fundamentals Level – Skills Module‚ Paper F7 (INT) Financial Reporting (International) 1 (a) December 2008 Answers Pedantic Consolidated income statement for the year ended 30 September 2008 $’000 98‚000 (72‚000) ––––––– 26‚000 (3‚000) (7‚600) (500) ––––––– 14‚900 (5‚400) ––––––– 9‚500 ––––––– Revenue (85‚000 + (42‚000 x 6/12) – 8‚000 intra-group sales) Cost of sales (w (i)) Gross profit Distribution costs (2‚000 + (2‚000 x 6/12)) Administrative expenses
Premium Generally Accepted Accounting Principles Balance sheet
Lecture 1 – Corporate Financial Reporting and Revision LECTURE OUTLINE Outline the nature and characteristics of companies Describe the sources of corporate financial reporting in Australia Identify which entities need to prepare financial reports that comply with accounting standards Account for share issues and dividends Account for asset revaluations and asset impairment Nature of Companies Type of organization established under the cooperation’s act 2001 Legal capacity and powers
Premium Balance sheet Generally Accepted Accounting Principles Depreciation
with court reporter. This work was performed in order to help me ascertain the advantages and/or disadvantages to purchasing the equipment and any ROI (return on investment) realized. My first task included submitting a questionnaire to two court reporting agencies that offer videoconferencing services. The results were an initial investment cost of $10‚000 for videoconferencing equipment and $900 to install the ISDN phone lines. There is a $150 to $175 charge per month for phone service only‚ and
Premium Cost Investment Research
ACCOUNTING 592 Financial Accounting & Reporting Seminar Spring 2010 Instructor: Office Hours (subject to adjustment): Teresa Gordon Office Hours: W 8:30–11:00 AM Albertsons Bldg. 118 and T‚W‚Th 1:15 - 3:00 PM 885-8960 or by appointment E-mail: tgordon@uidaho.edu Course web page: http://www.cbe.uidaho.edu/Acct592 ------------------------------------------------- MASTER OF ACCOUNTANCY – LEARNING GOALS ------------------------------------------------- -------------------------------------------------
Premium Accountancy Financial Accounting Standards Board Accountant
discontinued operations and before the effect of changes in accounting principles Discontinued Operations: A component of a business is defined as a segment for which operations and cash flows can be distinguished both operationally and for financial reporting purposes. It has to be sold in full. Check of impairment of segment if not sold off by the end of the year. Reported net of tax and must restate all previous reports. Asset Impairment: check undiscounted cf and reduce to fair value. Cannot reverse
Premium Balance sheet Income statement Generally Accepted Accounting Principles
The Uniform Crime Reporting (UCR) Program defines motor vehicle theft as the theft or attempted theft of a motor vehicle. The offense includes the stealing of automobiles‚ trucks‚ buses‚ motorcycles‚ snowmobiles‚ etc. The taking of a motor vehicle for temporary use by persons having lawful access is excluded from this definition. In 2004‚ there were an estimated 1‚237‚114 motor vehicle thefts in the Nation. Two-‚ 5-‚ and 10-year trend data showed considerable volatility: the number of motor vehicles
Premium Crime Theft Crimes
Introduction In 31st January 2008‚ Google Inc. announced its financial results for the quarter and fiscal year ended 31st December 2007. CEO Eric Schmidt was very pleased with the performance of the Google in terms their core value‚ growing reputation‚ techniques to manage their operating expenses. The financial statement was on the GAAP financial measures that are most directly comparable to non-GAAP financial measures. The raising cost on R&D‚ sales & marketing‚ and general administrative
Premium Generally Accepted Accounting Principles Revenue World Wide Web
Priceline.com 1. At the moment Priceline recognizes revenue using the gross method whereby the offered price $250 net of taxes and fees is recognized as revenue and $200 is recognized as cost of goods sold. The alternative would be to use the net method where only the 20% commission is recognized as revenue. It is important to distinguish between who bares the risks and benefits of the transaction. (SEC Staff Accounting Bulletin #101‚ Q10). Despite Priceline being the merchant of record‚ they
Premium Revenue Generally Accepted Accounting Principles
1 Table of Contents * Title Page •••••••••••••••••••••••••••••••••••••1 * Table of Contents •••••••••••••••••••••••••• 2 * Dedication ••••••••••••••••••••••••••••••••3 * Acknowledgements ••••••••••••••••••••••••••3 * Introduction ••••••••••••••••••••••••••••••••••••• 4 * Background of Study ••••••••••••••••••••••••5-6 * Purpose •••••••••••••••••••••••••••••••••••7 * Basic Questions to be Answer •••••••••••••••••••8 * Definition
Free Communication Language Speech
The day reporting center programs are a form of probation. The concept of probation was created by John Augustus‚ who was a Boston shoemaker‚ and was credited with being the “Father of Probation”. Augustus noticed through what took place in courts that minor offenders and alcohol abusers were sent to jail because of the inability to pay off fines. Being offended and disturbed by this action‚ Augustus made an agreement with authorities to pay off the offenders fines and give them friendly supervision
Premium Criminal law Crime Criminal justice