TABLE OF CONTENTS Introduction…………………………………………………………………………….....1 1.1 Relationship between Holding/parent company- subsidiary………………………….2 2.1 Consolidated Financial Statement…………………………………………………….4 3.1 The concept of Goodwill……………………………………………………………...5 3.1.1 Computation of Goodwill…………………………………………………………...6 3.1.2 Computation of negative Goodwill………………………………………………...7 4.1 The recommendation of the IASB……………………………………………………8 5.1 IFRS 36 Impairment of Assets………………………………………………………..9 6.1 IFRS
Premium Balance sheet Goodwill Subsidiary
What ’s your favorite financial statement and why?" The question was spoken quickly and with a tinge of annoyance‚ as my interviewer eyed me disdainfully from his cushy black leather chair. The investment banker had little time to conduct these ridiculously long interviews that are standard fare for analyst candidates. I shifted uncomfortably in my seat and scanned my frazzled brain for the "right" answer. "Well‚ of course all three financial statements should be studied in conjunction
Premium Revenue Balance sheet Generally Accepted Accounting Principles
GA-1 October 21‚ 2011 Mr. Larry Lancaster Chairman‚ President and CEO Apollo Shoes‚ Inc. Shoetown‚ ME Dear Mr. Lancaster: This letter documents our mutual understanding of the arrangements for the services described herein. Scope of Services Anderson‚ Olds and Watershed (AOW) will audit the balance sheet of Apollo Shoes as of December 31‚ 2011 and the related statements of income‚ retained earnings and cash flows for the year then ended. Our audit will be conducted in accordance
Premium Public Company Accounting Oversight Board Financial statements Audit
The Consolidated Statements of Earnings or the income statement tells financial statement users that there was a decrease in gross profit and net sales for the fiscal year 2008. The Consolidated Statements of Earnings show that the closing of underperforming stores‚ removal of new store openings from the pipeline‚ and staff reductions in many Home Depot projects resulted in $951 million in pretax charges. The difference profit and net sales is also a cause of fiscal year 2008 being 52 weeks and
Premium Balance sheet Generally Accepted Accounting Principles Income statement
“Jensen Shoes” Case Analysis What was Brooks’ perception of Kravitz’s abilities‚ attitudes and motivations? Lyndon Brooks’ perception of Jane Kravitz’s abilities was initially good. Prior to being assigned to her team‚ Brooks knew of Jane from other work‚ and she had made a good first impression. Although somewhat dismayed by what seemed to be a demotion to Brooks‚ he was excited for the opportunity to begin anew and prove himself‚ and working for Kravitz was fine with him. However‚ beginning
Premium Perception Motivation
FINANCIAL STATEMENT ANALYSIS for Policy regarding expansion in future: Analyzing financial statements involves evaluating three characteristics: a company’s liquidity‚ profitability and solvency. A short-term creditor such as a bank is primarily interested in liquidity – the borrower to pay obligations when they come due. A long-term creditor‚ such as a bondholder‚ looks to profitability and solvency
Premium Balance sheet Generally Accepted Accounting Principles
TASK 1: Financial statements are used by both internal and external users to make economic decisions. The information within the financial statement aims to provide information about the financial position‚ performance and any changes in financial position of an enterprise. Financial statements should be understandable‚ relevant‚ reliable and comparable. Reported assets‚ liabilities‚ equity‚ income and expenses are directly related to an organization ’s financial position. AstraZeneca
Premium Balance sheet Financial statements International Financial Reporting Standards
2012 Cash Flow Statement Disclosures in Pharmaceutical Companies: Bangladesh Perspective Mst. Joynab Siddiqua* Mohd. Takdir Hossan* Abstract Cash flow statement is a vital part of the financial statements. Preparation of cash flow statement is required as per Companies Act 1994 and the public limited companies enlisted with stock exchange are to prepare this statement as per other statutory laws and regulations. The acceptance of International Accounting Standard- 7: Cash Flow Statement has added a
Premium Cash flow statement Cash flow Financial statements
ASSESSMENT OF FINANCIAL STATEMENTS Assessment of Financial Statements Judith A Vicks FIN7014-8: Managing Financial Institutions Dr. Ekanayake: Northcentral University June 23‚ 2013 ASSESSMENT OF FINANCIAL STATEMENTS Abstract It is important to understand the differences in how earnings and liabilities are generated or reported for different financial institutions. This paper will describe key points regarding the balance sheets of different financial institutions. Commercial
Premium Asset Balance sheet Insurance
Auditing: A Journal of Practice & Theory Vol. 30‚ No. 2 May 2011 pp. 19–50 American Accounting Association DOI: 10.2308/ajpt-50009 Financial Statement Fraud Detection: An Analysis of Statistical and Machine Learning Algorithms Johan Perols SUMMARY: This study compares the performance of six popular statistical and machine learning models in detecting financial statement fraud under different assumptions of misclassification costs and ratios of fraud firms to nonfraud firms. The results show‚ somewhat
Premium Type I and type II errors Costs Cost