Week 3: Accounting for Intangible Assets Introduction Change from a manufacturing to a “knowledge based” industry Increase market to book gap Intangible Assets play a major role Assets: Definition * Resource controlled by an entity as a result of past events from which future economic benefits are expected to flow to the entity Assets Recognition Criteria * Recognition Criteria * Under AASB Framework (par 89) an asset is to be recognised in the balance sheet only when * It
Premium Asset Balance sheet Lease
Quiz 09 Submission View Question Set Question 1 0.5 / 0.5 points Goodwill is only recorded when generated internally. can be subdivided and sold in parts. can only be identified with the business as a whole. can be defined as normal earnings less accumulated amortization. Question 2 0.5 / 0.5 points All of the following are intangible assets except land. patents. copyrights. leaseholds. Question 3 0.5 / 0.5 points The cost of a long-lived asset (except land) is expensed
Premium Depreciation Balance sheet Asset
|Does depreciation generate actual cash flow in a company and if so how? | |In: Business Accounting and Bookkeeping [Edit categories] | [pic]CFA Designation Certified Financial Accountant Designation www.socfa.org [pic] [Improve] [pic] Answer Depreciation does not generate cash flow. If a million dollar piece of equipment is purchased‚ an accountant
Premium Depreciation Generally Accepted Accounting Principles
The use of corporate messaging has generated tremendous success in HCL Technologies (HCLT) transformational journey‚ championed by Vineet Nayar‚ CEO of HCLT. Institutional and organizational change calls for the caliber of management skills and leadership prowess that Nayar provided. The organizational culture of HCLT has been altered into a collaborative‚ engaging‚ perpetual learning environment through the use of many different internal and external messaging tools. Corporate Messaging: Internal
Premium Management Organization Strategic management
The State of Statements: Balance Sheets‚ Income Statements and Statements of Cash Flow Robert M. Traynor‚ Ed.D.‚ MBA CEO/Audiologist Audiology Associates‚ Inc. Johnstown‚ Colorado Introduction For most audiologists the patient is foremost in mind as we provide hearing care services. Successful practitioners know that when their practice is centered on their patient’s welfare‚ success will usually follow. Probably the greatest responsibility of the Robert G. Glaser‚ Ph.D. CEO/Audiologist Audiology
Premium Generally Accepted Accounting Principles Balance sheet Income statement
developing their own systems that were similar in nature. Additionally‚ competitors such Starwood hotels began developing member loyalty programs that resulted in far higher guest engagement‚ (5% of guests amassed to roughly 20% of the company’s revenue). Nonetheless‚ Marriott is very intuitive when it comes to business intelligence‚ but its competitive advantage with analytics is quickly eroding and it needs to start focusing on other aspects of the business to remain the industry leader. 2. Describe
Premium Hotel Marketing Hotels
EXAMPLE - QUIZ QUESTIONS 1. Prepare journal entries to record the following transactions of a public company: (3 Marks) a) 1 Feb. 2009 Omega Ltd issued a prospectus inviting subscription for 500‚000 ordinary shares at an issue price of $2.00 each‚ payable in full on application. b) 20 Feb. 2009 Applications closed and 500‚000 shares were received. c) 28 Feb 2009 Directors allotted the shares ____________________________________________________________________________________
Premium Balance sheet Goodwill
modern business. The functions of these departments are as follows. Marketing function-To generate sales (revenue‚ income) to be used by finance department to meet costs‚ capital expenditure‚ service capital‚ strengthen firm’s financial position Finance Function-To ensure that a firm remains financially strong‚ solvent‚ liquid and profitable by employing its resources (raised/generated) efficiently‚ productively and profitably Finance department is responsible for overall management of the
Premium Marketing Cost Finance
is usually a challenging month for Ocean Spray Cranberries‚ Inc.‚ when the Lakeville‚ Massachusetts-based firm has to pump up volume to meet the surge in demand for upcoming holiday season. Ocean Spray was managing its transportation operations internally‚ but the company decided that focusing on its core competency would allow them to maintain leadership in the shelf-stable juice drink category. The company believes centralizing its transportation operations and bringing all into uniformity while
Premium Logistics Supply chain management
information that is reported externally with the information reported internally. For a business to be able to have up to date information it is important to have interim reports. Interim reporting will break down the length of time between the reporting which in turn will give a better forecast. As part of an interim report the following will be disclosed the sales or gross revenues‚ basic and diluted earnings per share‚ seasonal revenue‚ costs or expenses‚ significant changes in estimates or provisions
Premium Income statement