Case 12-02 To Recognize or Not to Recognize‚ That Is the Question Shakespeare Inc. (“Shakespeare” or the “Company”) is a privately held book printing and publishing company with a December 31 year-end. The summary balance sheet as of December 31‚ 2010‚ included: Current assets Noncurrent assets Total assets Current liabilities Noncurrent liabilities Total liabilities Total shareholder equity $ 6‚500‚000 28‚250‚000 $34‚750‚000 $ 4‚500‚000 13‚750‚000 $18‚250‚000 $16‚500‚000 The summary results of
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Kira Davis Ms. Goolman Developing Nations 10/06/2014 Finding Nouf by Zoë Ferraris Chapter Summary 1-12 1. Nouf‚ the daughter of the wealthy Shrawi family‚ goes missing. Nayir and a search and rescue group try to find her in the desert without luck. Eventually a servant in Nouf’s household visits Nayir to tell him that travelers found Nouf’s body in a wadi. Nayir can’t shake the feeling that this is not the whole story. 2. Nayir goes to the coroner’s office to pick up Nouf’s body to bring to her family
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Chapter 6 (Case 6-1 CHINA PETROLEUM AND CHEMICAL CORPORATION) 1.The net profit figure reported under PRC GAAP is RMB 19‚011 million. This is RMB 2‚592 million lower than the amount under IFRS‚ and RMB 6‚566 million lower than the amount under U.S. GAAP. The net profit figure of RMB 19‚011 reported under PRC GAAP was increased to RMB 21‚593 under IFRS. The increase of RMB 2‚582 under IFRS was due to the following reasons: Dep. and disposal of oil and gas properties RMB3‚044 Acquisition of subsidiaries
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business‚ but he is debating whether to start a S corporation or a C corporation due to potential environmental factors associated with his business. He wants to maintain a limited liability and wants to avoid double taxation by paying himself a salary equal to his companies before tax earnings. He also would like to issue preferred stock to his son in the future to keep his interests in the business. He was advised by his friend to choose a C Corporation to maintain maximum flexibility in the business
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Case 12-7 Facts: Rossi Inc.: Asbestos Litigation Liability: The cost of settlement and defensed costs relating to currently pending claims and future claims for losses incurred to date. Liabilities recorded per/as at Dec 31. 2009 2008 2007 Rossi Inc. $962m $1‚055m $469m Thompson (External Specialist) $1124m $1‚055m Internal Actuarial Specialist $907m‚ $1‚184m‚ and $1‚514m The 2007 claim estimate is projected through 2011. The 2008 and 2009 estimate are projected through 2017
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widespread oil shortages. (This is not explained in this film but in the sequel‚ Mad Max 2: The Road Warrior.) Central to the plot is a poorly-funded national police unit called the Main Force Patrol (MFP‚ derogatorily called "The Bronze" by their enemies)‚ which struggles to protect the Outback’s few remaining townspeople from violent motorcycle gangs. The MFP’s "top pursuit man" is a young police officer‚ Max Rockatansky (Mel Gibson)‚ badge number MFP4073. A member of one of the motorcycle gangs
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Case 12-03 - Contingencies Scenario 1 Energy should recognize a provision as of December 31‚ 2011‚ in reporting to its U.K. parent under IFRSs and in reporting to its U.S.-based lender in accordance with U.S. GAAP. IFRS and GAAP follow three steps in order to determine if a provision should be recognized. They are: a) the entity has an obligation
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MAX WEBER I. INTRODUCTION A) Biography Birth name: Karl Emil Maximilian Weber Birth date: April 21 1864 (Erfurt‚ Germany) Parents: Max Weber Sr. and Helene Fallenstein Death: June 14‚ 1920 (Munich‚ Germany) Spouse: Marianne Schnitger (feminist and author) * Studied in the universities of Heidelberg and Berlin and was trained in law. * He taught in various universities in Germany until 1897 when he suffered a nervous breakdown due to his father’s death. His illness forced him to
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Description of the company’s performance McKesson Corporation is one of the leading providers of health care products and services. When it comes to analyzing the external environment; the political‚ economic‚ social‚ technological (PEST) analysis shows that the environmental situation is favorable for the company. The environment agrees with what the company wants to achieve. The environmental factors are giving the company a chance to succeed in its endeavor. In politics there is no direct problem
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A SUMMARY OF MAX WEBER THEORY OF BUREAUCRACY Max Weber (1864-1920) was a German academic and sociologist who provided another approach in the development of classical management theory. As a German academic‚ Weber was primarily interested in the reasons behind the employees’ actions and in why people who work in an organization accept the authority of their superiors and comply with the rules of the organization. Weber made a distinction between authority and power. According to Weber power educes
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