THE PIRATES OF THE SILVERLAND - PALM OIL PIRACY Summary of the case: Palm Haul Sdn Bhd (PHSB) established in 2002 at Taiping Perak. It was a small and medium sized enterprise in crude palm oil (CPO) transportation business. PHSB was managed by En.H.Rossly and son in law of its founder‚ Datu S. Najeed. PHSB was facing the same problems likes others transportation companies which is drivers embroiling in oil piracy. The transportation companies will bear the responsibilities of compensation of the
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Practice 1: Discontinued Activities The following condensed income statements of the Jackson Holding Company are presented for the two years ended December 31‚ 2011 and 2010: Jackson Holding Company has two geographic segments. Segment 1 operates in the U.S. and Segment 2 operates in Japan. On October 15‚ 2011‚ Jackson entered into a tentative agreement to sell the assets of segment 2. The two segments’ operations and cash flows can be clearly distinguished‚ operationally and for financial
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lecture we will examine the communication of financial information in the Income Statement through to the Balance Sheet. Learning objectives At the end of this topic‚ you should be able to: • Understand the terms‚ format and function of the Balance Sheet & the Income Statement • Identify the components of financial statements • Describe the relationship between the balance sheet and the income statement • Understand the implications of the decision to record expenditure
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mail. 2. What financial statements are commonly prepared for external reporting purposes? i. Balance Sheet‚ Income Statement‚ Statement of Stockholder’s Equity‚ Statement of Cash Flows b. What titles does Netflix give these statements? i. Balance Sheet: Consolidated Balance Sheets; Income Statement: Consolidated Statements of Operations; Statement of Stockholder’s Equity: Consolidated Statements of Stockholder’s Equity; Statement of Cash Flows: Consolidated Statements of Cash Flows c. What
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falls with the profitability of that corporation. OE equals the net assets of a corporation and is made up of two main components‚ paid-in capital and earned capital. Paid-in capital is made up of the funds provided by stockholders also known as contribution capital‚ and any additional paid-in capital from other sources. Earned capital consists of the retained earnings of a corporation and is derived from the profitability of operations within that corporation (Kieso‚ Weygandt‚ & Warfield‚ 2007)
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disadvantages of setting of Accounting Standards. Answer 1. The Accounting Standards seek to describe the accounting principles‚ the valuation techniques and the methods of applying the accounting principles in the preparation and presentation of financial statements so that they may give a true and fair view. The ostensible purpose of the standard setting bodies is to promote the dissemination of timely and useful financial information to investors and certain other parties having an interest in companies’
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benefit of raising funds from debt is that interest paid on debts is allowed as deduction for income tax. ‘When funds are raised by issue of shares (equity) ‚ the investor are paid dividend on their investment. Dividends are paid only when the Company is having sufficient amount of profit. In case of loss‚ dividends are not paid. But dividend is not allowed as deduction while computing tax on the income of the Company. In this way both way of raising funds are having some advantages and disadvantages
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discrepancy is allocated to land. During 2005‚ WAC reported net income of $150‚000 and paid dividends of $100‚000 in total to common and preferred shareholders. a. What will CHL report as investment income for 2005 on its nonconsolidated financial statements‚ assuming that it accounts for its investment in WAC under the cost method? 1) 2) 3) 4) $ 36‚400 $ 44‚800 $ 70‚000 $105‚000 b. What will CHL report as investment income for 2005 on its nonconsolidated
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Financial Analysis of AB InBev Debra Griffin Shorter University Managerial Accounting ACCT 5300 Dr. Amy Austin-Savage October 31‚ 2012 Financial Analysis of AB InBev A Brief History of Anheuser-Busch The Anheuser-Busch InBev Company (AB InBev) was established throughout the years through mergers and acquisitions. AB InBev is the largest brewery in Jupille‚ Belgium. They operate in North America‚ Latin America‚ South America‚ Europe‚ and Asia Pacific. Due to political upheavals
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organisations and their financial statements The International Accounting Standards Board is the independent‚ accounting standard-setting body of the IFRS Foundation.[1] It is responsible for developing and promoting the use and application of these standards. Trading Profit and Loss Account: A company keeps different types of financial records in order to monitor their performance and ensure that their taxes are paid. These will include cash flow statements‚ profit and loss accounts and a balance
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