Case 11-6 Lessee Ltd. Lessee Ltd.‚ a British company that applies IFRSs‚ leased equipment from Lessor Inc. on January 1‚ 2007‚ for a period of three years. Lease payments of $100‚000 are due to Lessor Inc. each year. Other expenses (e.g.‚ insurance‚ taxes‚ maintenance) are also to be paid by Lessee Ltd. and amount to $2‚000 per year. The lessor did not incur any initial direct costs. The lease contains no purchase or renewal options and the equipment reverts back to Lessor Inc. on the expiration
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| Lessee Ltd.- Lease Case | | | | | | 1. Was the junior accountant’s analysis correct? Why or why not? No‚ the junior accountant’s analysis is not correct in classifying the lease as an operating lease in accordance with IFRS. Whether or not a lease is classified as a finance or an operating lease depends on if all of the benefits as well as risks of ownership have been shifted from the lessor to the lessee. According to IAS 17-10(d)‚ a lease must be classified as a finance
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Case 11-6 Lessee Ltd. Case 11-6 deals with Lessee Ltd.‚ a company that operates in Britain and uses IFRS. The question in this case is how to classify a lease that Lessee‚ Ltd. acquired from Lessor Inc. The accounting standard that deals with leases under IFRS is IAS 17. IAS 17 was originally issued in September 1982 and was reissued in December 2003. It classifies leases as either finance leases or operating leases. Finance leases make it so that the lessee recognizes an asset and a liability
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CASE 11-6: LESSEE LTD Caleb Aytes Brayden Hudson Brian Laws Katie Vittetoe Topics To Be Discussed • • • • Relevant Facts of the Case IFRS US GAAP Real World Relevant Facts of the Case • Lessee Ltd. – British Company that applies IFRS – Leases equipment from Lessor Inc. – 3 years – No purchase or renewal options & equipment reverts back to Lessor when lease expires – Remaining useful life = 4 years – Guaranteed Residual Value of $20K Accountants Analysis Relevant Questions 1. Was the junior
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part‚ hereinafter called the lessee‚ both of said county and state witnessed: That the lessor‚ in consideration of the agreements and covenants hereinafter mentioned to be fulfilled by the lessee‚ both hereby demise and lease to the lessee‚ his heirs‚ executors‚ and administrators‚ for the period of ____________________. The following describe the land and premises‚ 2943 Audrey Drive‚ Gastonia‚ 28054. The total rent during said terms shall be $____________‚ lessee agrees to pay in ____ payments
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PDF Report issued on the 20/11/2014 TENCENT HOLDINGS LTD Company Profile Stock Exchange of Hong Kong / 0700 / KYG875721634 Business Summary Sector Tencent Holdings Ltd. is engaged in the provision of internet‚ mobile‚ and telecommunication services. >> Social Media & Networking It operates through the following business groups: Corporate Development‚ Interactive Entertainment‚ Mobile Internet‚ Online Media‚ Social Network‚ and Technology and Engineering. Income Statement Evolution The company
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Table of contents 1. Introduction 2. Products of company 3. Porter’s five forces model 4. SWOT analysis 5. PEST 6. EFE Matrix 7. IFE Matrix 8. CPM 9. SWOT or Tows Matrix 10. BCG Matrix 11. Space Matrix 12. IE Matrix 13. Grand Matrix 14. QSPM Matrix 15. Conclusion 16. Recommendation 17. Reference Chapter 1.Introduction Introduction of Company: History: From the of beginning Posts & Telegraph Department in 1947 and establishment of Pakistan Telephone &
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Introduction: In 1968‚ Royal Caribbean Cruise Line was founded with one ship. Over the next twenty-five years RCCL has expanded its fleet to 29 ships‚ with 2 more ships being built. RCCL has made its way in the cruise industry as one of the top three cruise lines. Over the past 5-7 years RCCL has experienced some problems with the external environment. These and other factors have placed RCCL in a situation of future organizational uncertainty. The time of this case is 2004. Current Mission
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------------------------------------------------- Title Slide Week Five Case Analysis: Labadee Decision ------------------------------------------------- Slide Two Title - Date: January 2010 Key Words * Haiti * Royal Caribbean Cruise Line * Labadee‚ Haiti * A Port of Call Script - In January 2010‚ the island nation of Haiti was devastated by an earthquake. Royal Caribbean International‚ a major cruise line‚ owns a private beach in Haiti which is typically a port of
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Janine Mallari Midie Q. de Guzman Ma. Gilda Sinchioco Cherry Lyn A. Dawang GROUP 2 BSIT-4G Seatwork in Ubuntu 1.Ubuntu is an Ancient African word meaning ? Ans : “ Humanity to others “ 2. Development of Ubuntu is led by Canonical Ltd owned by. Ans: Mark Shuttleworth 3. A desktop environment composed entirely of free and open-source software and targets to be cross-platform. Ans: GNOME 4. The first version of Ubuntu to offer Canonical’s ShipIt services. Ans: Ubuntu 4.10 (Warty
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