Little Drummer: Management of Billy’s made several assumptions towards its newly acquired company‚ Little Drummer Boy. Management finally adopted the assumptions that the fair value of significant assets acquired was $865 million and that of other assets was $145 million. At the same time of the acquisition‚ management also decided that useful lives of the acquired plant and equipment were 30 years and 15 years‚ respectively‚ which were different from the 20 years and 10 years useful lives for the
Premium Depreciation Asset Auditing
June 28‚ 2012 FOR IMMEDIATE RELEASE RESEARCH IN MOTION REPORTS FIRST QUARTER FISCAL 2013 RESULTS Waterloo‚ ON – Research In Motion Limited (RIM) (Nasdaq: RIMM; TSX: RIM)‚ a world leader in the mobile communications market‚ today reported first quarter results for the three months ended June 2‚ 2012 (all figures in U.S. dollars and U.S. GAAP‚ except where otherwise indicated). Highlights: Cash‚ cash equivalents‚ short-term and long-term investments increased to $2.2 billion at the end of the first
Premium Balance sheet Generally Accepted Accounting Principles Income statement
The Concept of Prudence: dead or alive? FEE Conference on Corporate Reporting of the Future‚ Brussels‚ Belgium‚ Tuesday 18 September 2012 Hans Hoogervorst‚ Chairman of the IASB ______________________________________________________________ Ladies and gentlemen‚ I am grateful to the Federation of European Accountants for the opportunity to participate in today’s conference. As has often been said‚ Europe kickstarted the move towards global accounting standards when it and others adopted IFRSs
Premium Balance sheet Generally Accepted Accounting Principles Concept
Chapter 04 Analyzing Investing Activities Multiple Choice Questions 1. Which of the following would rarely be classified as a current asset? A. Prepaid insurance B. Goodwill C. Marketable Securities D. Work-in-progress 2. Which of the following would not be classified as a current asset? A. Inventory B. Accounts payable C. Accounts receivable D. Prepaid expenses 3. An asset is considered to be liquid if: A. it is readily converted into a current asset. B. it is
Premium Balance sheet Inventory Generally Accepted Accounting Principles
Table of Contents 1. Executive Summary 2. About the Company 2.1 Key People 2.2 Milestones 2.3 Business Structure 3. Company Analysis of SMRT Corporation Ltd. 4. Company Financial and Data Analysis 4.1. Profitability ratio 4.1.1 Return on Capital Employed (ROCE) 4.1.2. Operating Profit Margin 4.1.3. Profit Ratio 4.1.4. Return on Equity (ROE) Ratio 4.1.5. Return on Assets (ROA) Ratio 4.2. Liquidity Ratio 4. 2. 1. Current Ratio 4.2.2. Acid-Test Ratio
Premium Financial ratio Balance sheet Asset
Running Head: Financial Statement Analysis Liz Claiborne Noemi Clemente Instructor: Michelle Estevez Florida National College October 05‚ 2009. Introduction One of the purposes of this project is to compare and contrast the differences and similarities of Liz Claiborne for the last two years based in their income statements‚ financial ratios‚ and balance sheet. The reader would find information about the company and industry profile; therefore‚ this outline will show graphics to help
Premium Balance sheet Generally Accepted Accounting Principles
How should goodwill‚ properly recorded on the books‚ be written off in accordance with generally accepted accounting principles? Goodwill is recorded in the accounts only under the circumstances that is is acquired through a purchase of another business or combination of businesses. According to Generally Accepted Accounting Principle under these circumstances where goodwill is acquired through a purchase by another business that it is recognized
Premium Economics Costs Cost
However‚ you are NOT responsible for the following materials from the textbook: b) Chapter 7: The journal entries discussed on pages 333-339. c) Chapter 9: Asset revaluations (p. 434)‚ IFRS treatment of asset impairment discussed on pages 435-437; and IFRS & US GAAP treatment of goodwill impairment on pages 437-439. a) Chapter 14 (listed in the course outline under Topic 6) 7. You are not required to memorize the financial ratios‚ but you need to know how to interpret them. The exam will not ask
Premium Generally Accepted Accounting Principles Depreciation Revenue
Fiat GROUP IAS/IFRS First Time Adoption March 30‚ 2005 Disclaimer This document was prepared to provide a general overview of the impacts of IAS/IFRS on the accounts of Fiat Group during the transition from Italian GAAP to IAS/IFRS As provided for in IFRS 1 – First-time adoption of International Financial Reporting Standards – the information is prepared in accordance with IAS/IFRS published as of December 31‚ 2004 and applicable as of January 1‚ 2005 Information presented in this
Premium International Financial Reporting Standards Financial statements Balance sheet
ACCA LECTURERS’ PROFILES – July 2010 Semester A team of experienced‚ knowledgeable & skillful individuals‚ meticulously selected by the College. Some of them have made a name for themselves and are fit to be called "Star Lecturers". They have produced results – prize winners‚ high pass rates & praises from students. They are among the best ACCA lecturers in Singapore‚ Hong Kong and Malaysia in terms of experience‚ pass rates and popularity among ACCA students. It took them years to figure out the
Premium University Association of Chartered Certified Accountants Kuala Lumpur