Effects of Leases on Selected Financial Reporting Items for Lessees Posted on March 16‚ 2012 by James in Accounting‚ CFA Exam‚ CFA Exam Level 2 The table below summarizes the effects of operating and capital leases on selected financial reporting items for lessees. ITEM OPERATING LEASE CAPITAL LEASE Balance Sheet No impact. Leased asset and lease liability are created. Income Statement Rent expense occurs over the life of the least; this may be a constant value. Interest and depreciation
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Paper Part 1 Total assets at the end of its most recent annual reporting period? Why is this important? According to Sirius XM Radio Annual Sec Filing Form 10-K for The Year 2011 (2012)‚ the total assets for the company had at the end of calendar year 2011 is $7‚495‚996. This number is equal to the total liabilities and stockholders’ equity and a 1.5% increase from the previous year. Total assets at the end of the previous annual reporting period? Total assets for the previous year were $7‚383‚086
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CONTINENTAL PHILOSOPHY When beginning the study of philosophy it is hard to believe that there are so many components involved with one subject. But in reality philosophy is really a broad term for many subtopics; as is the case when discussing continental philosophy‚ which is the philosophical tradition of continental Europe including phenomenology and existentialism. It all began with Absolute Idealism supported by such philosophers as Fichte and Hegel. It was during the eighteenth and nineteenth
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Brochure More information from http://www.researchandmarkets.com/reports/2037160/ Asiana Airlines Inc. (20560): Company Profile and SWOT Analysis Description: Synopsis World Market Intelligence’s ’Asiana Airlines Inc. (20560): Company Profile and SWOT Analysis’ contains in depth information and data about the company and its operations. The profile contains a company overview‚ business description‚ financial ratios‚ SWOT analysis‚ competitive benchmarking‚ key facts‚ key employees‚ location and subsidiaries
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calculations automatically and to change single number and update all related numbers at the click of a mouse. As one of the most popular financial software‚ spreadsheet is widely applied in areas such as accounting‚ finance‚ marketing‚ taxation‚ engineering‚ educational‚ scientific and medical fields (Ballantine‚ 1991). In 2004‚ SimCorp USA Inc and the Financial Executives Consulting Group found that about 64 percent of domestic companies depend on spreadsheet. Many authors view spreadsheet as a very
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1) Explain the auditor’s responsibility to detect material misstatements due to errors and fraud and the categories of fraud affecting financial reporting. Identify misstatement in financial report is the major task of auditor. Regardless the result of error or fraud‚ plan and perform audit engagements are being required by auditors to ensure financial statements are free from material misstatement by reasonable assurance instead of total responsibilities to the fair and true reports due to the limitation
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direct real estate investments: direct ownership of the underlying asset.Two possibilities of direct investments in Hong Kong arise in the LL case: ownership can be required or one should engage in direct development of assets to include in the portfolio. High returns are generated when investing directly in real estate; this is generated by cash flows from lease contracts. They can use more debt financing which can favour their tax situation. Another merit is the possible increase in NPV. By owning
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Apple ’s financial performance continued to strengthen over the last several quarters. In the most recent earnings announcement‚ Apple reported significant growth in net revenues driven by the strong performance of its iPod product line. Net sales for the 2nd quarter grew to $4.36 billion‚ which is a 34% increase over 2nd quarter 2005 results. Net income increased by 41% to $410 million. (Apple Reports)The iPod product line continues to drive the financial performance of the company. In the 2nd quarter
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United Airlines Case United Airlines was founded in 1926‚ which gives the airline nearly 90 years of experience. United faced many challenges throughout its years of operation‚ however the airline has still managed to be relevant and competitive in its industry. Theses challenges include: mergers‚ acquisitions‚ war‚ the Great Depression‚ labor union strikes‚ buyout attempts‚ terrorist attacks‚ bankruptcy‚ and recessions. The Airline deregulation Act of 1978 was the genesis for the airline industry we know
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History of Continental Airlines Continental Airlines began service in 1934 as Varney Speed Lines‚ named after one of its initial owners‚ Walter T. Varney operating out of El Paso‚ Texas and extending through Las Vegas‚ Albuquerque and Santa Fe‚ New Mexico to Pueblo‚ Colorado. The airline started with Lockheed Vegas‚ a single engine plane that carried four passengers. The airline later flew other Lockheed planes‚ including the Lodestar. It was renamed Continental on 1 July 1937 after a new owner
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