Murray Quarmby Director of Deloitte mquarmby@deloitte.com.au 0404 806 446 Part B) What was their advice on how to get a start in the industry? After I mentioned him about my situation‚ he said even having experience in development I am not too late to start a career from business
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Consolidated Balance Sheets. c) You can determine that the accounting principles that P&G used were consistent with the last year due to that P&G had used that same accounting firm Deloitte & Touche LLP for the last three years. P&G had already put in place an Audit Committee to provide oversight to the board. Deloitte & Touche followed all guidelines from generally accepted accounting principles (GAAP) in the United States of America. Also‚ management had in place internal control over financial
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mobile phone products‚ computing‚ entertainment products‚ appliances and related services. They operate retail stores and call centers that are very successful. This report analyzes their financial statements Best Buy is audited by Deloitte & Touche. Deloitte & Touche believe that Best Buy is in good stands with their financial statement. It is very informative and expresses well the company’s fiscal year. On November 2‚ 2011‚ the board of directors approved the change of the fiscal year-end
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Case 11-6 Lessee Ltd. Lessee Ltd.‚ a British company that applies IFRSs‚ leased equipment from Lessor Inc. on January 1‚ 2007‚ for a period of three years. Lease payments of $100‚000 are due to Lessor Inc. each year. Other expenses (e.g.‚ insurance‚ taxes‚ maintenance) are also to be paid by Lessee Ltd. and amount to $2‚000 per year. The lessor did not incur any initial direct costs. The lease contains no purchase or renewal options and the equipment reverts back to Lessor Inc. on the expiration
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Case 12-9 Rough Waters Ahead Smooth Sailing is a private company that operates one cruise ship. Smooth Sailing’s purchase of the cruise ship was financed with nonrecourse debt. (Nonrecourse debt is a loan that is secured by a pledge of collateral‚ in this case the cruise ship‚ but for which the borrower is not personally liable. If the borrower defaults‚ the lender can seize the collateral‚ but the lender’s recovery is limited to the collateral.) The cruise ship has its own identifiable cash flows
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Case 09-8 Classified Information Lads and Lassies (L&L)‚ an SEC registrant‚ has its year end on the Saturday closest to January 31. Fiscal 2012‚ 2011‚ and 2010‚ which include 52 weeks each‚ ended on January 28‚ 2012‚ January 29‚ 2011‚ and January 30‚ 2010‚ respectively. L&L manufactures and sells exclusive children’s clothing to the most discerning clientele. Its products offer high quality and modern style‚ including everything from a colorful collection of cashmere sweaters to perfect vintage
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Case 09-1: Velocity Cellular Page 1 D I S C U SS I O N M A T E R I A L S O b j e c t i v es o f t h e C a se This case gives students the opportunity to use accounting and auditing literature and professional judgment to research complex accounting issues effectively and efficiently. Specifically‚ students will be able to: Understand the application of the guidance in ASC 605-25‚ as amended by ASU 2009-13‚ to complex multiple-deliverable arrangements. Understand the application of the
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References: Deloitte. (2007). IFRSs and US GAAP: A Pocket Comparison. Retrieved from http://www.iasplus.com/dttpubs/0703ifrsusgaap.pdf Financial Accounting Standards Board (FASB). (2010). Accounting standards codification TM. Financial Accounting Standards Board (FASB)
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and blamed the accountants for not invoicing sales of up to $1.8 million. The directors said a new computer system was the problem‚ although they were unable to prove it. The directors then sought another opinion by engaging the accounting firm of Deloitte Touche
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Insurance BPO Market- Everest Group 2008 – Monetization of Captives Fueling the Outsourcing Marketplace: Aviva’s Recent Sale of its Captive Illustrates Common Motivations‚ Benefits- TPI Point of View August 2008 – Shared Services Vs Outsourcing- Deloitte September 2011 – Captive Centers- Strategic Assets or Disadvantages- Trestle Group Research – Captives in India: Is the Honeymoon Over? - Evalueserve 2009 – Research study of Captives in India and China: A Majority of parent organizations also rely
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