Subject : Financial Accounting Ⅱ Lease agreement between NeedsLease and HasSpace NeedsLease is renting a space for its corporate office from HasSpace by entering into a lease agreement. The agreed lease term is for 10 years and there is no option to renew nor is the ability to negotiate renewal of the term. According to ASC 840 (5F of statement 13)‚ the lease is classified as operating lease. The agreement includes two provisions that may require NeedsLease to perform certain activities at its
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Google Inc.—Earnings Announcements and Information Environment Teaching notes: This case considers how investors and financial analysts and business press writers use accounting information‚ particularly earnings. The case is designed to give students “hands on” experience with complementary sources of information about Google’s performance—the formal audited financial statements‚ an earnings press release‚ pro forma earnings disclosure‚ and comparative stock charts. Google is a prime example of
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1. Do you expect the search business to become more concentrated? Is search a winner-take-all business? For the case of Google‚ we can conclude that the search business of Google has become more dominated and concentrated. In terms of the companies‚ they do not expect the search business to be dominated by only fewer firms. Because the search business earned large revenues from the corporates’ advertisement and the fee is very high. If the companies want to advertise on the website of search business
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Genera2013 Case Study 1: General Mills Inc. Understanding Financial Statements Group 5 Summary This case overall probes into 3 basic financial statements of the company and management’s view as well as auditors comments on it. It teaches about how business ethics and corporate governance works. Case study encouraged us to closely probe into each statements and line items and make us understand it. Few highlighted learning’s are preparation of common-size financial statements‚ understanding
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Tiffany Hale AC503-02 Unit 2 Case Study North Face Inc. Case Study 1. Should auditors insist that their clients accept all proposed audit adjustments‚ even those that have an “immaterial” effect on the given set of financial statements? Defend your answer. When it comes to immaterial effect on a set of financial statements I would say that clients should not accept all proposed audit adjustments. By clients not accepting all proposed audit adjustments‚ auditors are
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Myths of the Mound Builders The first time I heard about the Mound Builders‚ which was in this class‚ these people seemed like a very primitive group. What was so exciting about having the skill of piling up a bunch of dirt. Then I was able to see some of these mounds and the scale was nothing I had imagined. These mounds were huge and also contained distinct structural shapes. Tombs‚ houses‚ and religious structures were constructed in or on top of the mounds. What made the edifices even
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small businesses too. Sew What? Inc. lacked the knowledge of the support IT could give to their business and contribute to the overall operational processes of tracking. Recognizing the importance of information technology for their operations‚ business organizations continue to invest in IT infrastructure and management (George & Khoja‚ 2012) Once it was brought to the attention of Megan Duckett‚ she realized how important it was for her company to expand their
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In “The Boat” by Alistair Macleod‚ the boat‚ and the ill-fitting clothes he wore significantly represent the confinement and the father’s inability to break free from tradition‚ reinforcing that tradition can suppress one’s dream for greater things. To begin‚ the boat itself is a symbol of the fathers bounding to the sea‚ showing his obligation to follow customs. The boat is categorize with a “marine clutch and a high speed reverse gear and was painted on an oblong plate across her stern. Jenny Lynn
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in groups of equipment called bays‚ hence the assumed age of assets per bay is the same. Asset condition is determined based on an Asset Health Index derived from condition assessments and reliability data (MTBF‚ MTTF‚ MTTR) which is missing in this case. Typically a Health Index Score between 50% and 60% means an asset needs to be monitored more closely with a potential change in proactive maintenance approach. For 50% lower a risk assessment is required and if it is a high risk assets‚ it be put
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This case begins with the relationship between California and Hawaiian Sugar Company (C&H)‚ the purchaser‚ and Sun Ship‚ Inc.‚ the contractor for the design and delivery of a vessel to ship raw sugar for C&H from Hawaii to California. Sun Ship went into contract with C&H on November 14‚ 1979 and agreed upon the delivery of the vessel on June 30‚ 1981‚ one and three quarter years‚ for the agreed upon amount of $20‚405‚000 . According to Cheeseman (2013) a liquidated damages clause‚ defined as “damages
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