Response to Client Request II ACC 541 September 24‚ 2012 Response to Client Request II As requested‚ the accounting team has analyzed the client’s situation to determine the impact this lawsuit will have. While the team waits for the client’s attorney to assess the likelihood of a loss in this lawsuit‚ the team has provided a thorough analysis of what would happen if the lawsuit is lost. This analysis includes how the accounting
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Response to Client Request II According to Schroeder‚ Clark‚ & Cathey (2011)‚ a contingency is a possible future event that will have some impact on the firm (p. 369). The most frequently encountered contingencies are pending lawsuits‚ income tax disputes‚ notes receivable discounted‚ and accommodation endorsements. The FASB reviewed the nature of contingencies in SFAS No. 5‚ “Accounting for Contingencies.” In SFAS No. 5‚ there are two types of contingencies that are defined: gain contingencies
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Running head: RESPONSE TO CLIENT REQUEST RESPONSE TO CLIENT REQUEST ABRAHAM P. THOMAS UNIVERSITY OF PHOENIX RESPONSE TO CLIENT REQUEST This paper reflects the results of the research done on the lease and lease structures in the FASB codification as required by the supervisor in response to the request of a client. The client is a regional trucking company and currently owns 100 trailers which is 20 less than what is required to take up a new job that has been offered to the company
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Response to Client Request ACC/541 September 2‚ 2013 To: From: Subject: Lease Type and Lease Structure This memo includes research on leases and lease structure. Through intensive research on the Financial Accounting Standards Board (FASB)‚ three sub-types of leases were found for lessors to account for the leases. The three sub-types are direct financing‚ sales-type‚ and operating leases. The international accounting standards board (IASB) and FASB are proposing a
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ACC541 Client Response Paper I Accounting Theory and Research University of Phoenix Mr. Heber W. Howard TO: Supervising Manager FROM: RE: Trucking lease options This memo is intended to inform you on leasing information in the Financial Accounting Research System (FARS) and create a recommendation for the regional trucking company as it pertains to their leasing options. This memo will briefly cover sales-type‚ direct financing‚ and operating leases for your information. If
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ABSTRACT While working on a consulting engagement‚ a supervisor in the team has given an assignment. The client is a regional trucking company. A new customer has approached the client with an opportunity that would require 120 trailers—20 more than the trucking company currently owns. The client is uncertain how long the relationship with the customer may last‚ but the deal has the potential for significant growth. The supervisor has asked a research to be conducted on leases and lease structure
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Memo Princess Regional Trucking Company To: Rudolph Blitzen‚ Financial Manager From: Jen DeSimio‚ CPA Date: 1/28/2013 Subject: Lease Options for New Trailers Princess Regional Trucking Company has been approached by a client with an opportunity that would require 120 trailers which is about 20 more than we currently own. We are not sure how long the relationship with this customer will last but this deal has the potential for considerable growth. I have a great deal of
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Response to Client Request I Andrea Smith ACC/541 August 12‚ 2013 Kim Swallom-Gill Response to Client Request I | Smith Financial | Memo To: | Kim Swallom-Gill | From: | Andrea Smith | Date: | August 12‚ 2013 | Re: | Response to Client Request I | | | Our client‚ a regional trucking company‚ recently received an opportunity with potential of growth and doing business with new customers on a larger scale and is uncertain of the length of this relationship. We recommend acquiring
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This file includes ACC 541 Week 3 - Response to Client Request While working on a consulting engagement‚ a supervisor in your team has given you an assignment. The client is a regional trucking company. A new customer has approached the client with an opportunity that would require 120 trailers—20 more than the trucking company currently owns. The client is uncertain how long the relationship with the customer may last‚ but the deal has the potential for significant growth. Your
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World History II sticks out the most to me. When I was struggling you were always willing to help me and didn’t give up on me when things still were not quite clicking. You believed in me and helped me to relax when everything seemed so stressful.You taught me not to stress myself out by worrying about all of the small details and to just do my best. I’ll be honest with you‚ I don’t remember a lot from my previous classes but I remember a lot of what we studied in World History II. Your passion for
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