Professional Accounting I Assignment #2 1. For the equipment Hemo-Tech should use its best estimate of selling price. Since it does not have a price on its own and the two competitors’ sell a different model or the same model to a different set of customers‚ it must use its best estimate according to 605-25-30-6C. Since the cost to manufacture the equipment including labor‚ materials‚ and allocated R&D is known‚ as well as an estimated markup based on its history of margins as well
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prospectively. This FSP is not yet included within the ASC‚ however‚ prior to the ASC effective date we would expect this guidance to also be incorporated into ASC 820-10. As noted in Addendum – 2007 above‚ the conclusions reached in the above case were not affected by ASC 820-10 (Statement 157); however‚ ASC 820-10 (Statement 157) may affect how Ace Company measures the fair value of the forward purchase contract and‚ therefore‚ how the proceeds are allocated between the purchase contract
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recorded in Runway’s Income Statement — as a reduction of revenue or as a marketing expense? Explain your answer and support it using the FASB Codification. Your answer should include the Codification reference where you found the applicable guidance. 2. When would Runway record the $25 Referral Credit? What are the entries Runway would record when the $25 Referral Credit is earned by the Existing Customer? Show entries in proper journal entry form. What are the entries Runway would record
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Zhifeng Liu 0892996 Colloquium 7 – Summary of Deloitte Deloitte is one the Big 4 public accounting firms. It has over 190‚000 employees worldwide‚ and there are 100 offices in the United States. In the colloquium‚ we met Jorge Caballero who is one of the Deloitte Tax LLP partner. Jorge was born in Cuba and immigrated to Connecticut‚ U.S. when he was 10. His father passed away one month after they arrive in U.S. Jorge started working when he was 12 to do gardening and other chores for only $1
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following updates to the existing cases should be noted. Case 03-5a Part I: Trademark Subsequent to the release of the Exposure Draft issued by the FASB and IASB in June 2010 the Boards received a number of comments and is currently reviewing and analyzing these comments. A revised draft of the Exposure Draft is expected in Q3 of 2011. We encourage users of this case study to follow this project and review the FASB’s and IASB’s Web site for updates. Case 04-9: Healthcare Depot On April 22
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usage becomes simpler39 “Mobile” advertising is dead. Long live tablet and smartphone advertising43 All‑you‑can‑app46 The looming spectrum shortage: worse before it gets better49 Endnotes52 Recent Deloitte thought leadership63 Contacts at Deloitte Touche Tohmatsu Limited (DTTL) and its member firms64 Technology‚ Media & Telecommunications Predictions 2013 1 “ ur aim with Predictions is to O catalyze discussions around significant developments that may require
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customers. Today‚ an EADS Airbus aircraft takes off somewhere in the world every four seconds. In 2003‚ the company’s budget was over 19 billion euros. It is one of the largest employers in Europe and one of the most successful companies in the world. 2. EADS began at a business conference for aeronautical companies in Paris in 1965. The first EADS aircraft‚ the Airbus A300B1‚ flew in 1972. Airbus is an unusual cooperative effort between four European countries. Components (parts) for a single aircraft
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Introduction to Deloitte Touché Tohmatsu Limited Deloitte Touche Tohmatsu Limited is a worldwide company that provides professional services in the area of auditing‚ taxation‚ consulting‚ risk analysis and financial advisory.It serves as a global firm in which there are many separate member firms over many countries and cities.Each member firm remains its separate and independent legal entity. Mission Deloitte aims at helping its clients to excel.In order to achieve the mission‚ Deloitte is going
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Trueblood Case 9-2: Pharmagen 1. State the issue at hand. (Typically this is merely the question you are asked at the end of the case.) How to account for the funding of the R&D and royalty payments 2. State the fact pattern. BRIEFLY present the relevant facts. (Bullet points can be very useful here.) (This can be a challenge‚ given that some Trueblood cases are only a few paragraphs long‚ it can be hard to further summarize them.) • Pharmagen entered into a funding agreement with Company XYZ
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Deloitte Structure Answers : Analysis of organizational structure of Deloitte US-India Pvt. Ltd a) Overcoming design challenges: 1. Differentiation: Differentiation provides the opportunity to specialize in a complex organization. It establishes task and authority relationship that allows the organization to achieve its goal. It is a process of allocating roles and responsibilities on the basis of skill sets and available resources. 2. Balancing differentiation and integration: Senior Manager
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