combination of earthquake and tsunami was a wakeup call reminding companies across the world how much they rely on nature to commerce business. On Friday 11 March 2011‚ an earthquake measuring 9.0 on Richter scale struck off Japan’s north-east coast of Tohoku which happened at 2:46pm (Alabaster et al. 2011). The massive earthquake was caused due to thrust faulting where rocks placed lower in the earth’s crust get pushed over the overlying layers (Alabaster et al. 2011). After the earthquake‚ the shadow
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Financial Reporting (Problem Part 2) Mark R. Mitchell XACC/290 August 31‚ 2014 Jeanette Butler Financial Reporting (Problem Part 2) While doing my analysis of the financial statement for the company Veritiv‚ I find that the company assets are listed in the proper order; that being the most readily converted to cash first. The order for Veritiv balance sheet is cash and equivalents‚ followed by receivables‚ then inventories‚ and other current assets. The next item listed is other current
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In October baker’s ownership interest in the firm was sold out equally to Able and Cabot‚ with Baker receiving a total of $110‚000 in notes and cash from Able and Cabot. The firm had $12‚000 net income for the year. Able and Cabot planned to incorporate the firm as of January 1‚ 20X2. Prepare a statement of invested capital for the partnership as of December 31‚ 20X1. 20X2: The firm was incorporated on January 1‚ as planned. The articles of
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EM6602 Accounting for Decision-Making and Control Microsoft’s Financial Reporting Strategy (HBR 9-100-027) Team Members Toh Wei Hong‚ Prashant Trivedi‚ Preethy Varadarajan Question 1 The difference between Microsoft’s market value and book value is primarily due to unrecorded intangible assets such as brand value‚ customer loyalty‚ human capital‚ and commercial advantages such as long-term contracts and market dominance. These intangible assets confer Microsoft a tremendous edge over its
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Course Outline ACCO 310/1 Financial Reporting I Summer 2013 Session 2 General Information Course Number: ACCO 310 3 credits | | | | | | |Section |Professor Robert B. Campbell | | |
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on this information‚ the profession of accounting has created several agencies to establish‚ monitor and maintain ethical codes of standards. Because of the widespread applicability of the information contained in the accounting process‚ honest reporting is critical. History has proven repeatedly that the temptation exists to manipulate figures for personal gains and corporate malfeasance. This paper will identify agencies that regulate accounting practices and briefly discuss the basic concepts
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Was the Japan Earthquake Manmade? An earthquake with an 8.9-magnitude tremor struck Japan on March 11th 2011‚ 400km north-east of Tokyo. It struck at 1446 local time at a depth of about 24km with an ensuing tsunami which devastated the north coast. Officials said 350 people are dead and about 500 missing‚ but it is feared the final death toll will be much higher. The quake was the fifth-largest in the world since 1900. A manmade device that can cause such an earthquake is a device that emits
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Income-tax Act‚ 1961 | No. | Title | Section - 001 | Short title‚ extent and commencement | | Section - 002 Part A | Definitions [Clause (1) to Clause (15)] - "Advance Tax" to "Charitable Purpose" | | Section - 002 Part B | Definitions [Clause (15A) to Clause (30)] - "Chief Commissioner" to "Non-resident" | | Section - 002 Part C | Definitions [Clause (31) to Clause (48)] - "Person" to "Zero Coupon Bond" | | Section - 003 | Previous year defined | | Section - 004
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2014). The discipline does not simply study points on a map of the distance between two cities; it seeks to uncover the science behind the natural and human realms and describe it a set of relationships and sequences (Getis et al.). Consider a statement the authors make on the dual nature of geography “the content of an area has both physical and cultural aspects‚ and geography is always concerned with understanding both” (Getis et al.‚ 2014‚ p. 3). In much the same way that simple anatomy prepares
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The Role of Conservatism in Financial Reporting Table of Contents Introduction 3 Applications of Conservatism in Accounting 4 Advantages associated with Conservatism 7 Disadvantages associated with Conservatism 11 Recommendations and conclusions 14 References 17 Introduction This report investigates the application of conservatism in accounting and its role in financial reporting. We also examine and compare the advantages and disadvantages associated with conservatism and provide our opinion
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