This report is for the Board of Directors of Coral Bay Hospital‚ to evaluate a project to build an Ambulatory Surgical Center(ASC) This report utilizes the base case analysis‚ worse case analysis and best case analysis feeling these analyses are sufficient‚ while many analyses may be of interest‚ they could confuse the recommendations and strategic value of the project. In preparation the board would be told that calculating multiple NPVs for multiple inflationary rates for labor cost and supply
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information impact the amount recognized or disclosed? According to ASC 720-20-25-14‚ it requires that insured entities including those that use a claims-made approach for insuring certain risks‚ recognize a liability for the probable losses from incurred but not reported claims and incidents if the loss is both probable and reasonably estimable. So‚ the estimation of medical benefit payables should be recognized. According to ASC 944-40-35-1 Changes in estimates of claim costs resulting from the
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arrangement was made under a separate contract and Buffet paid $4‚500 for the additional services. 1.) Is Coconut’s February 1‚ 2012‚ arrangement with Buffett within the scope of ASC 985-605? The agreement with Buffett on February 1‚ 2012 is not within the scope of ASC 985. The agreement falls under the exception on ASC 985-605-15-4 paragraph e which states that the guidance on 15-3 does not apply to “software components of tangible products that are sold‚ licensed‚ or leased with tangible products
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testing in the management of atypical squamous cells. This revision is based on new information being available‚ including the ASC-US/LSIL Triage Study (ALTS) and the use of HPV testing as an adjunct in cervical cytology. In this guideline‚ HPV testing refers to testing for high-risk HPV types (1‚2‚3). In this revision‚ the recommendations for atypical squamous cells (ASC) and low-grade squamous intraepithelial lesion (LSIL) are essentially unchanged‚ except in special populations such as adolescents
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frequent flyer miles could displace a fare-paying passenger. The Incremental Cost Method does not account for the opportunity cost (i.e. the cash revenue foregone) associated with such a displacement. The U.S. Financial Accounting Standards Board (FASB) considered‚ but never reached authoritative guidance on‚ how to account for airline frequent flyer programs. In contrast‚ airlines reporting under IFRS have been
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Investment 2: Beary Beary. Investment 3: Buy-A-Lot Company For each investment clearly answer YES or NO‚ explain your reasoning‚ and if YES the amount. ASC 320-10-35-21 states that impairment occurs when the fair values fall below the original costs. In all three investments‚ we need to determine if the impairment is other-than-temporary. ASC 320-10-35-33 states that security shall be deemed temporarily impaired when an entity has decided to sell an impaired available-for-sale security and the
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CableCo and CoAx qualifies as a bill-and-hold sale. Application of the Rules Several uncertainties and issues of this case come to light when referencing the aforementioned ASC rules. As outlined in ASC 606-10-25-1‚ the requirements for a contract to exist are clearly met between CoAx and CableCo. ASC 606-10-25-14 and ASC 606-10-25-30 clarify that CoAx owes CableCo
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acquired 100% of DeliveryAx for delivering its products to consumers. This means CoAx does not transfer responsibility at shipping point‚ but at destination. And until all obligations are satisfied‚ it is not suitable for CoAx to recognize revenue. ASC 606‚ Revenue From Contracts With Customers‚ provides five steps to recognizing revenue; step 5 requires an entity to “recognize revenue when (or as) the entity satisfies a performance obligation.” Describe in general the key principles of this step
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Case 08-01: Go With the Flow‚ Inc. 1. Insurance Settlement Proceeds: involuntary conversion Investing cash inflow ASC 230-10-45-16 As stated in ASC 230-10-45-12‚ “All of the following are cash inflows from investing activities: a. Receipts from collections or sales of loans made by the entity and of other entities’ debt instruments (other than cash equivalents and certain debt instruments that are acquired specifically for resale as discussed in paragraph 230-10-45-21) that were purchased
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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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