Memorandum In our recent meeting‚ you told us how Smooth Sailing’s business was affected by the presence of pirates in your area of operation. The pirates caused a decline in the fair market value of the cruise ship and you contacted our firm to determine how to test the ship for recoverability and the amount of impairment loss (if any). We used the Financial Accounting Standards Board’s (FASB) Accounting Standards Codifications (ASC) 360 – Property‚ Plant and Equipment to conduct our tests for
Premium Generally Accepted Accounting Principles Corporate finance Asset
Re: Impairment Testing We are writing to you regarding the inquiry we received over the possible impairment of your cruise ship. Our response was formulated using our extensive knowledge of the U.S. Generally Accepted Accounting Principles and referring to ASC 360-10 over the testing of impairment. After preforming recoverability tests‚ we have concluded that your cruise ship is impaired‚ and an impairment loss of $1.6 million should be recorded on December 31‚ 2010. In the second scenario‚ the
Premium Generally Accepted Accounting Principles Inventory Fundamental analysis
Thomas Swiatek Football vs. Soccer “When I meet a European‚ the first thing I say is‚ “I’d much rather watch football than football.” But I’m just teasing them‚ and they know I’d really rather watch football than football.” (Jarod Kintz). Football and soccer are two very different sports but at the same time they do have some similarities. Football is very much a contact and strength sport and soccer is more of a technique sport. But football does require technique as well‚ and soccer requires more
Premium American football Association football
MEMO To: Smooth Sailing From: The consulting group Date: May 6‚ 2012 ------------------------------------------------- Subject: Recoverability/Impairment of cruise ship ------------------------------------------------- Facts: Smooth Sailing is a private company that operates one cruise ship. Smooth Sailing’s purchase of the cruise ship was financed with nonrecourse debt. The cruise ship has its own identifiable cash flows that are largely independent of the cash flows of other asset groups
Premium Generally Accepted Accounting Principles Asset Goodwill
The book begins on a cold winter morning in a Siberian labor camp. One of the prisoners‚ a man named Ivan Denisovich Shukhov‚ starts his usually “normal” morning with a fever and some pain. Not feeling well at all‚ he hopes a nice guard is on duty and sleeps in a little bit. “In camp‚ the squad leader is everything: a good one will give you a second life; a bad one will put you in your coffin” (Alexander Tvardovsky 7). I picked this quote because the author pointed out how important it was to
Premium English-language films Family Thought
In this assignment I will be discussing how functional areas link with each other within Tesco. The functional areas in any business can’t work alone; they must interact with other departments and have good communications within them. Most functional areas in Tesco deal with external people or organisations‚ these are called external links. For example‚ suppliers‚ which are usually contacted by the purchasing or production function to make orders; the R&D department then contacts specialist suppliers
Premium Customer Customer service Sales
Sea Animal Captivity By Hitesh. S 8A(Rough copy) “Each and every animal on earth has as much right to be here as you and me‚” said by Anthony Douglas Williams. Like all animals‚ sea animals are meant to live in the wild or live in the ocean. However‚ many sea animals are captured to be held captive‚ to be abused‚ to be separated from their family‚ to be captured only to live an inferior and shorter life compared to their previous lives. Sea animals lose so much only to be forced to entertain
Premium Whale Killer whale The Animals
Link reaction The link reaction takes place in the mitochondrial matrix and its main function is to turn the pyruvate into acetate for the kerb cycle. During the link reaction the pyruvate molecule undergoes decarboxylation and dehydrogenation‚ the enzymes pyruvate decarboxylase and pyruvate dehydrogenase remove the carboxyl group (which becomes a carbon dioxide molecule) and removes the hydrogen atoms from the pyruvate molecule. The coenzyme NAD accepts the two hydrogen atoms and becomes reduced
Premium Adenosine triphosphate Metabolism Cellular respiration
Philippine Archipelago‚ with all the islands and waters embraced therein‚ and all other territories over which the Philippines has sovereignty or jurisdiction‚ consisting of t its terrestrial‚ fluvial‚ and aerial domains‚ including its territorial seas‚ the seabed‚ the subsoil‚ the insular shelves‚ and other submarine areas. The waters around‚ between‚ and connecting the islands of the archipelago‚ regardless of their breadth and dimensions‚ form part of the internal waters of the Philippines.
Premium Philippines South China Sea
Narrative Paper As many know‚ I am really into music. My favorite bands are; Project 86‚ Family Force 5‚ Emery‚ and Underoath. I’ve actually talked to most of these band’s members by the time I graduated high school. The only ones I haven’t talked to are the members of Project 86‚ but that changed over the summer and what happened when I met them changed my life. It was a Living Sacrifice reunion concert in Cleveland and project 86 was there so I went to see them. Over the summer my life consisted
Premium Friendship Bass guitar Interpersonal relationship