the carrying value of an asset is not recoverable. Per the same standards‚ carrying value is not recoverable “if it exceeds the expected future cash flows to be derived from the asset on an undiscounted basis” (FASB‚ ASC 360-10). In the Property Solutions Inc. case‚ the carrying value of the building on 10/1/2017 was $1‚650‚000 and the expected future cash flows are $1‚214‚940. Per the definition of impairment loss stated above‚ the asset is impaired. In calculating the loss‚ we must compare the carrying
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Jamaica Water Properties A Case Study The case is about an accounting fraud that involves the Jamaica Water Properties‚ Inc. The fraud was characterized by misapplication of purchase method of accounting for acquisitions‚ recording fictitious assets‚ improper accounting for NOLCO‚ non-recording of appropriate allowances for uncollectible receivables‚ and misapplication of the percentage-of-completion method of accounting for long-term contracts. Ernest Grendi made the fraud possible‚ company
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New Water Protection (WOTUS) rule issued by Obama On May 27‚ 2015 Obama administration issued a new rule‚ under the Clean Water Act‚ to protect the nation’s water resources such as wetlands and streams for benefiting safe and clean drinking water and to protect from pollution and degradation. The Environmental Protection Agency (EPA) and the Army Corps of Engineers issued The Water of United States (WOTUS) rule that aims to protect water sources that flow to drinking water unit to be clean irrespective
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The rule of law is a system of rules and rights that enables fair and functioning societies. The World Justice Project defines this system as one in which the following four universal principles are upheld: The government and its officials and agents as well as individuals and private entities are accountable under the law. The laws are clear‚ publicized‚ stable‚ and just; are applied evenly; and protect fundamental rights‚ including the security of persons and property. The process by which
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<<<< CCS(LTC) RULES >>>> CENTRAL CIVIL SERVICES (LEAVE TRAVEL CONCESSION) RULES‚ 1988 1. Short title‚ commencement and application. – (1) These rules may be called the Central Civil Services (Leave Travel Concession) Rules‚ 1988. (2) They shall come into force on the date of their publication in the Official Gazette. (3) Subject to the provisions of sub-rule (4)‚ these rules shall apply to all persons – (i) who are appointed to civil services and posts including
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The year is 1776 and America has just gained its independence. But growing as a nation will take time. The United States of America was not always as powerful and influential as it is today. Shaping the country took time‚ money‚ and a lot of help from the people. The United States grew physically‚ politically‚ and socially from its founding through 1860. First off‚ the U.S. grew enormously in size. It physically expanded over time and did not always have the land it has now. The Louisiana Purchase
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builders of our nation. My dear friends‚ we are the privileged lot to have been born in a free India. We are able to breathe in a land that is free from the day we were born. If at all we want to know the pangs of agony of being slaves under a foreign rule‚ we must ask our elders born before 1947. It was indeed a Himalayan task for every Indian in those days to fight against those powerful giants – the British rulers. We must not allow those hard times and struggles fade away from our memory. Hence it
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Adolf Hitler ruled Germany as her Führer for eleven years. For many‚ the Nazi Party’s relatively long time in power is surprising‚ or perplexing at best‚ due to their intense prejudices and barbarism. The most frequently applied reason for this is that the party stayed in power by using force. The late political scientist‚ Carl Friedrich‚ once described six major features of a totalitarian dictatorship- an official ideology‚ a single party‚ terroristic control by the police‚ monopolistic control
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Offset Rules 1. Hobby losses: hobby expenses can be used to offset hobby income. 2. Built in loss on property converted to business use: TP’s original adjusted basis (reduced by depreciation claimed) so that the built-in loss (BIL) can be used to offset (i.e. reduce) a gain on a sale‚ but may not create or increase a loss. 3. Losses between related parties: Losses between related parties are not currently deductible‚ but the seller’s loss is discontinued and transferred to the related purchaser
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eight golden rules Shneiderman proposed this collection of principles that are derived heuristically from experience and applicable in most interactive systems after being properly refined‚ extended‚ and understood (Shneiderman & Plaisant‚ 2009). To improve the serviceability of an application‚ it is important to take in a well-designed interface. Shneiderman’s "Eight Golden Rules of Interface Design" are a guide to good interaction design (Shneiderman & Plaisant‚ 2009). The first golden rule is strive
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