the contingency and how that will change if the client loses the lawsuit‚ affecting the client’s ability to pay the mortgage debt and impairment of the patent. In 1975‚ the Financial Accounting Standards Board published Statement of Financial Accounting Standard No. 5‚ Accounting for Contingencies. SFAS No. 5 defines a contingency as “an existing condition‚ situation‚ or set of circumstances involving uncertainty as to possible gain (gain contingency) or loss (loss contingency) to
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Case 12-03 - Contingencies Scenario 1 Energy should recognize a provision as of December 31‚ 2011‚ in reporting to its U.K. parent under IFRSs and in reporting to its U.S.-based lender in accordance with U.S. GAAP. IFRS and GAAP follow three steps in order to determine if a provision should be recognized. They are: a) the entity has an obligation
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three issues in this case: 1) whether it was appropriate for Danle to omit the contingency loss; 2) SEC’s comments on Danle’s notes to 10-Q for the 1st quarter of 2010; 3) SEC’s comments on Danle’s notes to 10-K for year 2010. 1) The conclusion reached by Danle to omit disclosure relating to the class-action litigation is not appropriate. According to ASC 450-20-50-5‚ “Disclosure shall be made of those contingencies for which there is a reasonable possibility that a loss may have been incurred even
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87 Loans and advances 12‚682 0.63 18‚366 1.1 14‚709 1.35 Trade deposits and short term prepayments 39‚603 1.97 52‚793 2.99 20‚230 1.86 Other receivables 80‚918 4.03 28‚868 1.63 9‚638 0.88 Taxation-payments less provision --- ---- 43‚650 2.47 107‚654 9.88 Cash and bank balances 201‚902 10.07 93‚212 5.27 80‚436 7.38 1‚248‚575 62.26 1‚036‚314 58.64 704‚825 64.69 TOTAL ASSETS 2‚005‚482 100 1‚767‚168 100
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Liability Management (ALM) Team Composition of Asset Liability Management Team Roles and responsibilities of Asset Liability Management (ALM) Team Periodical Meeting Asset Liability Management Flowchart Policy Statement Loan/Fund Ratio Liquidity Contingency Plan Maturity wise Cashflow Statement Maturity wise Interest Rate Profile Term of Lending Vs. Borrowing Compliance Balance Sheet Risk Management Process ALM Information System ALM Organization ALM Process 5.3.1 Liquidity Risk Management 5.3.2 Interest
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CMI Level 5 Diploma in Management and Leadership Resource Management (Unit 5004) Assignment – Title Name: Student No: Tutor: Assignment Profile: Individual Report Hand in Date: ‘I Martin Scott fully understand and abide by the Sunderland College guidelines on plagiarism. This work is my own and references to other work have been cited correctly.’ Appendix 2 – Reflective Statement Template Level 5 Diploma in Management and Leadership Unit
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4100 CONTRACTUAL CHOICE Scott E. Masten Louis and Myrtle Research Professor of Business and Law‚ University of Michigan Business School © Copyright 1999 Scott E. Masten Abstract This chapter discusses alternative theories of contract choice and design with special emphasis on (i) the interaction between contract design and contract enforcement and (ii) the explanatory power of alternative theories. After discussing the primary functions of contract‚ the entry reviews the assumptions
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Audit of Limited Companies: Inspection of documents Books and Registers. Audit of Preliminary expanses‚ profit prior to incorporation‚ public deposits‚ managerial remunerations‚ share capital. The Visible profits and dividends- meaning‚ provisions of Companies act in regard to declaration and payment of dividend. Auditor’s duties as regards to divisible profits. Unit-II: Special Audit and investigation: Audit of Banking Companies and Audit of insurance Companies. Investigation-Meaning
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ACT 360 Intermediate II Final Portfolio Project May 31st‚ 2014 Portfolio Project Module 1 1) What are the maturities on Intel’s Long-term debt? 2) What are Intel’s projected obligations on Long-Term Debt and Payments due by period? 3) What is the par or stated value of Intel’s preference shares? Par Value/Stated Value of Preferred Shares = $0.001 4) What is the par or stated value of Intel’s ordinary shares? Par Value/Stated Value of Common Shares = $0.001 5) What
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The Budget documents presented to Parliament comprise‚ besides the Finance Minister’s Budget Speech‚ the following: A. Annual Financial Statement (AFS) B. Demands for Grants (DG) C. Appropriation Bill D. Finance Bill E. Memorandum Explaining the Provisions in the Finance Bill‚ 2013 F. Macro-economic framework for the relevant financial year G. Fiscal Policy Strategy Statement for the financial year H. Medium Term Fiscal Policy Statement I. Medium Term Expenditure Framework Statement J. Expenditure
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