Fair Value Accounting Select the archived issue you wish to view: Standards Fair Value Accounting Fair value accounting contains a superior basis for financial reporting than the outdated historical cost model. FROM: SEP-OCT 2005 ISSUE | BY HAN DONKER In recent years‚ international standard setters and regulators such as the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) have begun
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1.0 Introduction There are tools and techniques that can help owners and managers make decisions. However these decisions are based on purely estimations where the costs and profits will come to a breakeven point. The common breakeven analysis is Cost-Volume-Profit Analysis. This analysis shows that how the cost and profit changes when the volume change. It analyses the effects on profits of changes in variable costs‚ fixed costs‚ selling prices‚ volume‚ and the products sold. However‚ there was
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Case 2-2 SKD Limited 1. Goodwill a. There is no goodwill amortization expense in Country A‚ so the goodwill amortization expense recognized by SKD must be added back to determine income under Country A GAAP. SKD amortizes goodwill over a longer period (20 years) than is allowed in Country B (5 years)‚ so an additional amount of goodwill amortization expense must be recognized to determine income under Country B GAAP‚ which reduces Country B GAAP income. b. The goodwill adjustment affects the retained
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Usefulness of revenue for performance analysis 6 3. Segmental Reporting 7 4. Usefulness of Segmental Reporting in Performance analysis 7 Task 4 7 1. Goodwill and Accounting policy about it by kingfisher plc. to satisfy user’s need 7 2. Intangible assets and Accounting policy about it by kingfisher plc. to satisfy user’s need 8 3. Controversy between goodwill and intangible assets 8 TASK 5 8 1. Income statement 8 2. Cash flow statement and its elements 9 3. Relationship between the cash flow and income
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ACCT 4022 – Advanced Accounting Notes Chapter 1: Intercorporate Acquisitions and Investments in Other Entities The Development of Complex Business Structures By expanding into new markets or acquiring other companies already in those markets‚ companies can develop new earnings potential and those in cyclical industries can add greater stability to earnings through diversification. A subsidiary is a corporation that is controlled by another corporation‚ referred to as a parent company. Control
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Greetings indicates that its Property‚ Plant‚ and Equipment are reviewed for impairment in accordance with ASC 360. The ASC 360 standard under US GAAP states that the test for impairment is only required if events or changes in circumstances indicate that the book value of the asset or asset group may not be recoverable. But in order to follow IFRS standards‚ American Greetings must assess its assets for indicators of impairment at the end of each reporting period. American Greetings states that intangible
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DEVRY UNIVERSITY Comcast Corporation Financial Analysis of 2013 Annual Reports Intermediate ACCT II project 6/15/2014 Analysis by Page Table of Contents Introduction The Comcast Corporation is the largest cable and home internet provider in the United States. The company functions as a cable provider and ISP‚ including telephone services for residential and commercial customers throughout the US. This makes Comcast a central focus for both customer and competitor criticism
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assets and liabilities ….. Employee Benefit - Defined contribution plan - Defined benefit plan Stock Option - Intrinsic value - Fair Value - Compromise - Latest development Impairment - China: Triggers of impairment test and accounting treatment Reversal of impairment provision - US GAAP: Triggering event Determine the minimal cash generating units (CGU)
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depreciation Buildings and equipment Furniture and fixtures Natural resource assets subject to depletion Mineral deposits and timber Tangible Physical Substance Definite life Patents Copyrights Franchises Indefinite life Trademarks Goodwill Intangible No Physical Substance 8-4 FIXED ASSET TURNOVER Net Sales (or Operating Revenues) Fixed Asset = Turnover Average Net Fixed Assets This ratio measures the sales dollars generated by each dollar of fixed assets used. During 2011‚ Southwest
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IAS 38 INTANGIBLE ASSETS | | |HISTORY OF IAS 38 | |February 1977 |Exposure Draft E9‚ Accounting for Research and Development Activities | |July 1978 |IAS 9 (1978)‚ Accounting for Research and Development Activities | |1 January 1980 |Effective Date of IAS 9 (1978)
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