MEMORANDUM Date: To: XYZ Research Co. From: Subject: Accounting Treatment for Patents XYZ Research Co‚ (XYZ) came to our firm‚ requesting clarification on the accounting treatment for patents the company purchased. 1. FACTS The company possesses many patents and has historically expensed all of the costs associated with obtaining their patents. The company is unsure if any or all of its patent costs can be capitalized. The company is unsure if impairment testing
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Concept of Limited Liability Personal Definition: In the event a liability arises‚ limited liability prohibits the available assets to only the business entity itself. Essentially‚ the investor cannot lose more than he or she puts in. This protects the individuals working for the entity on a personal level. Nobody can attack his or her personal assets‚ unless the individual exhibits some form of activity that qualifies for piercing the corporate veil. Investopedia Definition: A type of liability that
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will be created and used for the XYZ Manufacturing Company of a five year projections. Assumptions will be made to support each line item‚ to increase or decrease the forecasted statements. There will also be interpretation of the financials‚ in relation to the initiative. Recommendations are to made on the potential discretionary financing needs. This word analysis is the company’s short term and long term financing needs‚ and strategies to help the company manage their working capital (University
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Before commenting upon the nature of Limited Liability Partnerships (LLP) it is necessary to understand the system of partnership that it embodies. The LLP is provided for by the provisions of the Limited Liability Partnership Act‚ 2008. Under this act the LLP has been described as a “body corporate” and a artificial legal personality with perpetual succession. Under the LLP the partners can manage the rights of duties though the means of an agreement that would be governed by the LLP act. The interested
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forms of business entities available‚ a recent one being limited liability partnerships (LLP)‚ created by the Limited Liability Partnership Act 2000 (LLPA). This act came into force on the 6th of April 2001. As‚ LLP’s have qualities similar to partnerships‚ they are seen as a hybrid between a partnership and a company. An LLP is a ‘corporate body’ with ‘separate legal personality’‚ distinct from its members. Members enjoy limited liability and are not jointly and severally liable for the debts of
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CASE EXAMPLE B: XYZ Counseling Agency‚ a Limited Liability Company‚ hired Chuck as an anger management counselor. Two months ago during a counseling session with a client named Wilbur‚ Chuck became very angry at Wilbur’s failure to improve and beat up Wilbur. A week earlier‚ XYZ Counseling had counseled Chuck about an incident in which he grabbed a client by the arm and shook him. XYZ Counseling has a specific policy against violence and has disciplined employees who violate it‚ but it has never
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system of Limited Liability Partnership. Its purpose was to solve the conflict | |between the continually expanding professional service organizations and unlimited joint liability. In 2006‚ newly revised the | |"Law of the People’s Republic of China on Enterprise Partnership" referenced this system‚ referred to as "special general | |partnership". This new organization blocked the unlimited joint liability among partners‚ partners protected by limited | |liability. Because
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Case Study Sample DRAFT #1 Table of Contents Overview .........................................................................................................................1 Supplier ...........................................................................................................................2 About XYZ Corporation ...................................................................................................2 End User .........................................................
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XYZ INFRA COMPANY LTD. The company‚ incorporated in 1998‚ was initially engaged in the field of telecom infrastructure in India. In the period between 2002 to 2010‚ it was one of the key player providing various services for the telecom industry‚ ranging from work planning and design to Operations & Maintenance services which include Radio Frequency Engineering Services‚ Project Management Service‚ Telecom tower design & Supply‚ equipment installation & commissioning‚ testing & integration etc
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of a person’s emotional states anger is the most dangerous emotion that someone can feel. Anger can cause a person to do irreplaceable damage to themselves or others‚ sometimes resulting in death. When someone is angry it can cause them to think irrationally and make poor decisions. Fortunately‚ there are ways to control one’s anger so that a situation doesn’t escalate out of control and cause harm to themselves or others. A person can learn to control their anger using some valuable techniques described
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