and then return ship to lender. (70% probability with $1.0 million ECF) These events show that the carrying amount of the asset group may not be recoverable; thus‚ Smooth Sailing will need to test the asset group for recoverability and potential impairment in accordance with ASC 360-10 at the end of the current fiscal year. As of 31 December 2010‚ the cruise ship’s estimated fair value is $3.0 million‚ the net book value is $4.6 million‚ and the estimated remaining useful life is five years. We
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1) Explain the auditor’s responsibility to detect material misstatements due to errors and fraud and the categories of fraud affecting financial reporting. Identify misstatement in financial report is the major task of auditor. Regardless the result of error or fraud‚ plan and perform audit engagements are being required by auditors to ensure financial statements are free from material misstatement by reasonable assurance instead of total responsibilities to the fair and true reports due to the limitation
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aInnovation Drives Growth 2011 ANNUAL REPORT Generating Another Record Year 1.6B 30.3% $ 0.165 $ 0.93 50M $ (1) (2) record revenue from digital channels (1) record oPerating margin (2) record dividend increased 10% in 2011 record earnings Per share (2) record online monthlY active users in dec. 2011 Represents Non-GAAP revenues from subscriptions and memberships‚ licensing royalties‚ value-added services‚ downloadable content‚ digitally distributed products‚ and wireless
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HUP SENG INDUSTRIES BERHAD (Company No: 226098-P) HUP SENG INDUSTRIES BERHAD (Company No: 226098-P) Suite 6.1A‚ Level 6‚ Menara Pelangi Jalan Kuning‚ Taman Pelangi 80400 Johor Bahru‚ Johor Darul Ta’zim Tel (067) 332 3536 http://www.hupseng.com ANNUAL REPORT 2008 HUP SENG INDUSTRIES BERHAD (Company No: 226098-P) CONTENTS Corporate Information 2 Corporate Structure 3 Chairman’s Statement 4 Financial Highlights 6 Directors’ Profile 7 Statement on
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Q1 1. an intangible asset should be amortised and written off on a systematic basis over the asset’s economic life 2. internally generated goodwill may be carried in the statement of financial position if the value can be determined with reasonable certainty 3. internally generated brands can never be recognised as intangible assets Which of the following is consistent with IAS 38 Intangible assets? A 1 and 2 only B 1 and 3 only C 2 only D 3 only Q2 During 20x7‚ Research
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Property‚ Plant and Equiptment * The property‚ plant and equipment portion of the Consolidated Balance Sheet of Sterling Homex shows a significant increase from 1970 to 1971. The Major contributor to its drastic increase is the “Buildings” account. From 1‚702‚924.00 it increased to 4‚822‚055.00‚ the movement was not explained in the notes though it may be attributed to the expansion of Homex in 1971. This is the time wherein they doubled their manufacturing facilities and created the U.S. Shelter
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Account Receivables Turnover Ratio Analysis 2010 The A/R turnover ratio for 2010 was 14.80‚ which was a monumental increase from 8.45 in 2009. One reason for this increase was due to a conscious effort by Proctor and Gamble to improve collection times for incoming payments. In 2009‚ they incurred too much short-term debt due to the delayed collection of payments for their products and ended up decreasing their A/R account by almost $500 million. Their sales also increased in 2010 due to the expansion
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The fixed asset register is an accounting method used by businesses to identify the major resources they hold. Lindsey Lester explains what it is and how it should be used The reporting of fixed assets should comply with Financial Reporting Standard 15 (FRS 15). The aim of this reporting standard is to ensure that tangible fixed assets are accounted for on a consistent basis. It sets out the principles in making a decision as to whether a tangible fixed asset is stated at cost on a financial statement
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ACQUISITIONS AND EQUITY INVESTMENTS MADE BYAMAZON.COM NAME: INSTITUTION: TUTOR: COURSE TITLE: DATE: Q1. Amazon utilizes several strategies that serve to boost its venture in the global market. Multi-level electronic commerce strategy is one of the strategies used by Amazon. With this strategy‚ Amazon is able to focus on business-to-consumer relationship of itself as the company and its customers‚ business-to-business relationship between the company and its suppliers‚ and also customer-to-business
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Return on Assets ROA: (NI + Interest Expense‚ Net Tax Savings)/Ave. Total Assets The ability of assets to generate income ‚regardless of how those assets are financed. ROA=Profit Margin(for ROA)xTotal Asset Turnover Ratio Profit Margin for ROA: (NI + Interest Expense‚ Net Tax Savings)/Sales Relative sales to expenses. Asset Turnover: Sales/Ave. Total Assets How well a company’s assets generate sales. AR Turnover: Net Sale on Account/Ave. AR–or - Sales Revenue/Ave. AR How quickly a firm collects
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