ACCT2542 Corporate Financial Reporting & Analysis Semester 2 – 2009 Version 1.0.3 Contents Page 3 Accounting for Income Tax Page 7 Consolidation Accounting – Principles Page 10 Consolidation Accounting – Wholly Owned Subsidiaries Page 15 Consolidation Accounting – Intragroup Transactions Page 19 Consolidation Accounting – Minority Interests Page 24 Consolidation Accounting – Indirect Ownership Page 26 Accounting for Asso Associates – The Equity Method
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Accounting Principles At the completion of the Darby Department Store audit‚ the president asks about the meaning of the phrase “in conformity with generally accepted accounting principles‚” which appears in your audit report on the management’s financial statements. He observes that the meaning of the phrase must include more than what he thinks of as “principles.” Required: a. Explain the meaning of the term accounting principles as used in the audit report. (Do not in this part discuss the significance
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REPORT OF THE HIGH LEVEL GROUP OF COMPANY LAW EXPERTS ON A MODERN REGULATORY FRAMEWORK FOR COMPANY LAW IN EUROPE Brussels‚ 4 November 2002 THE HIGH LEVEL GROUP OF COMPANY LAW EXPERTS Chairman : Jaap WINTER José Maria GARRIDO GARCIA Klaus J. HOPT Jonathan RICKFORD Guido ROSSI Jan SCHANS CHRISTENSEN Joëlle SIMON Rapporteur : Dominique THIENPONT Secretariat : Karel VAN HULLE TABLE OF CONTENTS Page Letter from the Chairman 1 Summary The High Level
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Microsoft’s Financial Reporting Strategy Q1. What are the factors that likely explain the equity and its reported book value of equity? Question 1 2 3 4 5 6 1999 Market Capitalisation: USD 460 Billion Book Value: USD 28 Billion MVE more than 16 times of BVE! Factor 1 Question 1 2 3 4 5 6 Intangible Assets • BVE does not reflect certain intangible assets’ value such as brand‚ customer loyalty‚ and human capital – Likely to provide tremendous earnings growth
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Financial Reporting Problem Part 1 Mark R. Mitchell XACC/290 August 10‚ 2014 Jeanette Butler Financial Reporting Problem Part 1 In the light of this week’s assignment of analyzing an annual report for a publicly traded company I decided to use the company now work for which is the spinoff company from the merger of international papers Xpedx division and Unisource; the new company name is Veritiv. Veritiv’s total assets for this accounting period are $1‚215 million dollars (Morningstar
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Intermediate Accounting Project Assignment #1 AIA2-1 (Financial Reporting Issues: The Procter & Gamble Company) a) Proctor and Gamble’s revenue recognition policies state that the customer recognizes revenue upon either date of shipment or date of receipt; e.g. when the product or receipt has switched hands. They also record revenue net of sales‚ trade promotion spending‚ and other taxes on behalf of governmental authorities. All of these transactions are generally recorded at time of
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CPA 104 FINANCIAL REPORTING MODULE 1 THE FRAMEWORK AND ITS APPLICATION IN FINANCIAL REPORTING Part A: The role of a framework of accounting in global financial markets Objective of General Purpose Financial Reporting To provide financial information about the reporting entity that is useful to existing and potential investors‚ lenders and other creditors in making decisions about providing resources to the entity. Key factors driving the globalisation of financial markets Technological innovation
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the business will be short on the earnings this year. With this going on will cause problems with the financial responsibility toward the stakeholders. Mr. Reed located a transaction within the business that will work for the businesses financial responsibility‚ but with this transaction Mr. Reed would need to locate some legal and ethical ways to report this transaction on any of the financial reports. The transaction that Mr. Reed questions about was first sold some products on December 20th‚ 2010
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EM6602 Accounting for Decision-Making and Control Microsoft’s Financial Reporting Strategy (HBR 9-100-027) Team Members Toh Wei Hong‚ Prashant Trivedi‚ Preethy Varadarajan Question 1 The difference between Microsoft’s market value and book value is primarily due to unrecorded intangible assets such as brand value‚ customer loyalty‚ human capital‚ and commercial advantages such as long-term contracts and market dominance. These intangible assets confer Microsoft a tremendous edge over its
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Financial Reporting Google is a publicly traded company which means that customer and stakeholders have access to the company’s financial information. The balance sheet and income statements are the two financial statements which gives a brief summary of a company’s overall financial condition. The balance sheet focuses and report figures of assets‚ liabilities and owner’s equity of the business. Assets are anything that a business has with a value such as furniture‚ liabilities are monies owe to
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