Intangible Assets: An intangible asset‚ despite not having a physical form to it‚ has great value to a company and is to be disclosed in the financial reports. Some companies only disclose the brand and goodwill as their only intangible assets‚ while others include more such as software and the company trademarks (Loftus et al. 2012). The Accounting Standard AASB 138 advises businesses on the accounting treatment of these intangible assets‚ but only if the specific criteria have been met for an
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lifespan can be found on the cash flow statement. Amortization gets expended in accrual accounting. The transactions made are followed with the accrual basis of accounting. According to Axiom Financial (2014)‚ amortization is considered to be “goodwill”. Amortization relates to items like notes receivables and asset balances. Depreciation is like amortization. It is one of the essences in accrual accounting. It is the writing off the diminishing value of particular items during
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Mini Case 3: 1. Q: A Ltd. owns 45 percent of B Co. Typically‚ only about 70 percent of the outstanding shares are voted at the annual meetings of B Company. Because of this‚ A Ltd. always casts a majority of the votes on every ballot when it votes the shares it holds. Since A Ltd. owns 45% of B Co. but maintains the majority of the voting power due to only about 70% of the total amount of available votes casted. This gives A Ltd. the control to decide on the operating and financial policies of
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Return‚ the Buyer a/c is credited and the Sales a/c is debited. 3 GOLDEN RULES OF ACCOUNTANCY (1) Debit What comes in & credit what goes out [Real Account] Real Accounts - All tangible assets like cash‚ car‚ furniture and intangible assets like goodwill‚ patents (2) Debit the Receiver & Credit the giver [Personal Account] Personal Accounts - Jose‚ cyndie or any other person or any company’s account in business (3) Debit all the Expenses and losses & Credit all the Incomes and gains. [Nominal
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Vyaderm Pharmaceuticals Case Analysis | | | As consultant to Sanders and Myers‚ I would suggest they rethink the continuation of economic value added (“EVA”) bonus payout process. The proposed EVA bonus payout structure is supposed to be an objective way to gauge and reward employee performance; however‚ through no fault of their own‚ the Dermatology group is slated to undergo severe ebbs and flows in their incentive and could potentially wreak havoc on employee morale and retention. For
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The Auto Industry Forecasting BUS620: Managerial Marketing Dr. Uchenna Nwabueze 4/14/2014 Auto Industry Forecasting A PESTEL analysis is an acronym that stands for Political‚ Economic‚ Social‚ Technical‚ Environment‚ and Legislative areas of business. There are many different elements and influences on the Auto industry. The automobile industry has become a worldwide industry and is the sixth largest economy in the world (Kierzkowski‚ 2011). Kierzkiwski (2012)
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Corporate Accounting III Assignment 2 Question 1: What is the difference between direct and indirect NCI? Under AASB127‚ the group is required to prepare the consolidation statement when parent entity acquires shares in the subsidiary. There are two parties who own shares in the subsidiary if it’s not a wholly-owned subsidiary consolidation. One is the parent entity while the other is non-controlling interest. Non-controlling interest (NCI) is defined as “the portion of the profit or loss and
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------------------------------------------------- Report: The Textile Industry In India ------------------------------------------------- Arvind Mills Prepared for: Industrial Economics Prepared by: Dhruvita.Patel School: FSLE- 3 Application Number: 28380 Initiator: Rupa Korde Date: 21/04/2013 1. Executive summary Indian textile Industry has lately been developing in India has contributed a lot towards the economic growth in terms of generating employment‚ GDP‚ economic
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motor vehicles‚ office equipment‚ computers‚ and plant and machinery. Intangible Assets is a much broader category including anything from copyrights and patents to trade secrets‚ customer lists/leads‚ noncompetition agreements‚ franchises‚ and goodwill. The accounting methods for PP&E is very similar to those of Current Assets‚ though there are significant differences in the costs to be capitalized according to GAAP (the "generally accepted accounting princiapals" as determined by the Financial
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Globalization of the Hospitality Industry Jennifer Bratton University of Phoenix Globalization of the Hospitality Industry Introduction The hospitality industry strives from consumers wanting to get away from everyday stresses. These consumers want to relax and enjoy time away from everyday life. When a person is traveling they need a place to stay‚ a place to eat‚ somewhere to visit‚ and someone to make the arrangements for the travel. Hospitality is known for servicing the guests and making
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