From: Accounting Firm Re: Lawsuit Pending lawsuits against a company are both expensive and detrimental to a company’s image. The decision to understand the implications of a lawsuit to the company is the first step in minimizing risk and potential loss to the organization. Research was conducted based on the guidelines of the FASB to answer the client’s questions pertaining to the lawsuit. The memo provided to the client will answer the following questions: How are requirements for contingencies
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ABC SDN. BHD. (Incorporated in Malaysia) REPORTS AND FINANCIAL STATEMENTS 31 December 2010
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Impairment accounting – the basics of IAS 36 Impairment of Assets IAS 36 Impairment of Assets (the standard) sets out the requirements to account for and report impairment of most non-financial assets. IAS 36 specifies when an entity needs to perform an impairment test‚ how to perform it‚ the recognition of any impairment losses and the related disclosures. Having said that‚ the application of IAS 36 is wide and its requirements may be open to interpretation. The recent economic uncertainty
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Combined Financial Statements and Credit Group Financial Information December 31‚ 2012 and 2011 (With Independent Auditors’ Reports Thereon) KAISER FOUNDATION HEALTH PLAN‚ INC. AND SUBSIDIARIES AND KAISER FOUNDATION HOSPITALS AND SUBSIDIARIES Table of Contents Page Independent Auditors’ Report 1 Financial Statements: Kaiser Foundation Health Plan‚ Inc. and Subsidiaries and Kaiser Foundation Hospitals and Subsidiaries: Combined Balance Sheets 2 Combined Statements of Operations
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PHILIPPINE LONG DISTANCE TELEPHONE COMPANY AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AS AT MARCH 31‚ 2013 (UNAUDITED) AND DECEMBER 31‚ 2012 (AUDITED) AND FOR THE THREE MONTHS ENDED MARCH 31‚ 2013 AND 2012 (UNAUDITED) F-1 PHILIPPINE LONG DISTANCE TELEPHONE COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (in million pesos‚ except par value per share amounts and number of shares) As at January 1‚ As at March 31‚ As at December 31‚ 2012 2012 2013
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True the objective of financial statements emphasizes a stewardship approach for reporting financial information It is False the purpose of the objective of financial reporting is to prepare a balance sheet‚ an income statement‚ a statement of cash flows‚ and a statement of owners’ or stockholders’ equity. It is False because they are generally shorter‚ FASB interpretations are subject to less due process‚ compared to FASB standards. It is True the objective of financial reporting uses an entity
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Nanjing. Many events occurred during the six week period. The event at Nanjing is called many names such as rape‚ massacre‚ battle‚ or invasion. It is still debated on the appropriate term to be used to describe the event at Nanjing. A massacre would be the most appropriate term for the next textbook for ninth graders to describe the event at Nanjing because the Japanese army murdered about 300‚000 Chinese people whereas the amount of Japanese killed could not even compare. The event at Nanjing
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Financial Statements Tonjes Bolden ACC/280 May 31‚ 2011 Financial Statements Accounting defines as a systematic report and analysis of an organization’s financial transactions
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CHAPTER-I FINANCIAL STATEMENTS LEARNING OBJECTIVES After studying this chapter‚ you will be able to: • Explain the meaning of financial statements of a company; • Describe the form and content of balance sheet of a company; • Prepare the Balance Sheet of a company as per Schedule VI Part I of the Companies Act 1956. • Know the major headings under which the various assets and liabilities can be shown. • Explain the meaning‚ objectives and limitations of analysis using accounting
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Introduction | 2 | Financial statements | 3 | types of financial statement | 4 | relationship between financial statement | 5 | financial statement in practice | 6 | | | | | Introduction Financial Statement In the name of Allah most gracious most merciful. In this essay I will take about financial statement. Trying to write everything I knew about it‚ starting with the types of financial statement‚ relationship between financial statement and financial statement in practice. I will
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