denominated in the functional currency of the joint venture. Sparkle has a strong Nigerian management team and an experienced ex-Brighten managing director. U.S. laws govern the diamond trade worldwide and all sales are made in US$. Copyright 2009 Deloitte Development LLC All Rights Reserved. Case 11-4: Functional Currency Determination - IFRS Page 2 2010: Shine sold its share in the joint venture to Brighten. Though the loan was included in the sale‚ all other above mentioned factors remained
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14 June 2011 Retail Industry Inquiry Mr Phillip Weickhardt Productivity Commission GPO Box 1428 Canberra City ACT 2601 By email: retail@pc.gov.au Dear Mr Weickhardt Re: Economic Structure and Performance of the Australian Retail Industry Woolworths Limited welcomes the opportunity to provide this submission to the Productivity Commission’s Inquiry into the Economic Structure and Performance of the Australian Retail Industry. Woolworths believes this Inquiry provides an important opportunity for
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Deloitte reported that by Q1 2014 the total stock of hotels in Dubai had grown to 344 hotels (providing approximately 80‚000 rooms)‚ whereof branded hotels represented 167 properties. Occupancy in the upscale hotel sector in 2013 was 80%. The supply pipeline for Dubai reflects a substantial rise in market conditions reported Deloitte. In total there are currently 72 known hotels across all market sectors in varying
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CASE: HR-34 DATE: 01/23/09 SCALING: HOW CHINA-BASED VANCEINFO GROWS BIG FAST Our biggest challenge is that the company is growing very fast and we’re not sure that our systems can withstand such growth. 1 ⎯ Chris Chen‚ Chairman and CEO‚ VanceInfo Technologies When Chris Chen founded VanceInfo Technologies in Beijing in 1995‚ the company had 25 employees and one low-end IT services outsourcing project for a U.S. multinational. By August 2008‚ through a combination of organic growth and acquisitions
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Discuss the risks to an audit should the client become aware of the materiality thresholds used on audit engagements by the auditing firm. Auditors cannot insist that their clients accept all proposed audit adjustments even those that have an “immaterial” effect on the given set of financial statements‚ because most clients would refuse to propose audit adjustments. 1. Discuss the general principles or guidelines that dictate when companies are entitled to record revenue and how the
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not standard. Chen built the stores based on the regions of China they were built in. I believe this was a great approach to doing business. When entering a new market‚ you should try to tailor your business to the needs of the local customers that would come to your restaurant. I side with Chen and the decisions that were made based on the market research performed. Foster and Chen did not see eye to eye. Foster wanted Chen to change all the progress that had been made so far. Chen did not want to
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Case 11-3 Master of the Universe Saturn Inc. (“Saturn”) and Venus Inc. (“Venus”)‚ two unrelated parties‚ form Jupiter‚ a joint venture. Saturn owns 51 percent of Jupiter and Venus owns 49 percent of Jupiter. The purpose of Jupiter is to own and operate organic clothing design and manufacturing facilities and sell organic clothing to unrelated retailers. When Jupiter was formed‚ Saturn contributed $561 million to Jupiter and Venus contributed four manufacturing facilities with an assembled
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Problem Several problems exists surrounding Levendary’s recent market entry into China‚ mainly revolving around a lack of communication between head office and Howard Leventhal’s hand-picked president of Levendary China‚ Louis Chen. The company seemed to give Chen a very «hands-off» approach‚ paying very little attention to his strategy and operations overseas while trying to maintain a level of standardization. Levendary is based on a rather vertically structured organizational chart that has
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School Vouchers Dan Botting Calvin College Introduction Education in the U.S. today is mostly paid for and administered by government bodies. This has been the way American education has worked since education began to become widespread. The bottom line rationale and purpose behind having a widespread system of education is that: “A stable and democratic society is impossible without widespread acceptance of some common set of values and without a minimum degree of literacy and knowledge
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in its own format. Louis Chen is the president of Levendary China. He is capable of speak Mandarin Chinese and English and had long experience as retail property developer gave him intimate familiarity with neighborhoods in Shanghai and Beijing. Chen also had a network of contacts to help speed up the process of permitting‚ incorporating‚ and staffing stores. However‚ in order to overcome these challenges‚ Mia Foster had her first video conference meeting with Louis Chen. Since‚ Mia Foster is not
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