What you need to know • Common requirements now exist between US GAAP and IFRS on how to measure fair value • IFRS 13 does not change when an entity is required to use fair value‚ but rather‚ provides guidance on how to measure the fair value of financial and non-financial assets and liabilities when required or permitted by IFRS • While many of concepts in IFRS 13 are consistent with current practice‚ certain principles‚ such as the prohibition on blockage discounts for all fair
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CHAPTER 13 – CURRENT LIABILITIES AND CONTINGENCIES I. Liabilities A. Three Characteristics 1. Probable‚ future sacrifices of economic benefits 2. That arise from present obligations 3. Resulting from past transactions B. Current Liabilities 1. Payable within 1 year 2. Reported at maturity value C. Types of Current Liabilities 1. Accounts Payable a. Buy merchandise on account
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POW 13 Problem Statement: The problem of the week states how many bananas can corey the camel get to the market if he has to eat one banana every mile and it s 1000 miles to the market and he has 3000 bananas and he is able to hold only 1000 bananas at a time. Process: I knew that corey had to eat one banana every mile and he had to go 1000 miles but could only carry 1000 bananas at a time and there was 3000 miles so i knew he would have to drop off bananas at certain places to be able
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Colonies 13 Original Colonies. Connecticut‚ Delaware‚ Georgia‚ Maryland‚ Massachusetts Bay Colony‚ New Hampshire‚ New Jersey‚ New York‚ North Carolina‚ Pennsylvania‚ Rhode Island‚ South Carolina‚ and Virginia. Out of these 13‚ Virginia‚ Rhode Island‚ and Pennsylvania stood out to me the most. Even though these three colonies have differences based on how they started‚ who governed them‚ and how they were governed‚ they still have many similarities. 1607. Jamestown‚ Virginia. Founded by John Smith
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Apollo 13 The Apollo 13 mission was a significant historical event‚ because of the dangerous repercussions that followed the explosion of the oxygen tank on Apollo 13. The story in which the astronauts Lovell‚ Swigert‚ and Haise surviving these errors during the flight is truly incredible. In the movie Apollo 13‚ the creators depicted most of the events involving the crew’s adventure to and from space quite accurately. Although creating most events successfully the creators of Apollo 13 failed
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In the movie Apollo 13 three astronauts go up to space in the space craft odyssey and encounter many problems. The astronauts‚ Jim Lovell‚ Jack Swigert and Fred Haise were on a rushed mission to go to the moon when Jack went to go stir the oxygen tanks and one of them exploded. The explosion led to a whole host of problems. The astronauts had to abort the mission and focus on a safe return home. A monomyth plotline is when a person leaves a place‚ encounters obstacles and comes back a different
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Trisomy 13 Trisomy 13‚ also known as Patau Syndrome‚ is a chromosomal abnormality where an individual has an extra chromosome 13. Trisomy 13 was first recognized by Patau and his colleagues in 1960 (Matthews‚ 1999). It affects approximately 1 in 12‚000 births and is the least common of the trisomy syndromes‚ after trisomy 18 and trisomy 21 (Down syndrome). An abnormality of the chromosome occurs when mitosis or meiosis does not happen correctly. During mitosis‚ when the cells are dividing
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Brief Exercise 1-7 Your answer is correct. Indicate which statement you would examine to find each of the following items: income statement‚ balance sheet‚ retained earnings statement‚ or statement of cash flows. (a) Balance sheet Revenue during the period. (b) Income statement Supplies on hand at the end of the year. (c) Statement of cash flows Cash received from issuing new bonds during the period. (d) Balance sheet
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Chapter 13 Inventory Management Answers to Discussion and Review Questions 1. Inventories are held (1) to take advantage of price discounts‚ (2) to take advantage of economic lot sizes‚ (3) to provide a certain level of customer service‚ and (4) because production requires some in-process inventory. 2. Effective inventory management requires (1) cost information‚ information on demand and lead time (amounts and variabilities)‚ an accounting system‚ and a priority system (e.g.‚ A-B-C)
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Apollo 13 The movie Apollo 13 is a true story about a failure of a space mission to the moon. Before they end up getting to the moon‚ something goes wrong with the rocket ship. The quote “We just put Sir Isaac Newton in the driver’s seat” from the movie Apollo 13 is figure of speech. A figure of speech is an idiom‚ metaphor‚ or simile. In this case‚ the quote is an idiom. An idiom is a figure of speech that is meant not to be taken literally. It’s raining cats and dogs is an example of an idiom
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