1. How should Smooth Sailings’ mana gement perform the recoverability test for the cruise ship as of December 31‚ 2010? FASB ASC paragraph 360-10-35-23 states that for measuring an impairment loss‚ long-lived assets should be group with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities 2. What assets and liabilities should be included in the “asset group” as defined by ASC 360- 10
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for erroneous reporting will depend on the conditions of acquisition‚ retention‚ and retrieval of information. Given the conditions typical of most misinformation experiments‚ it appears that misinformation acceptance plays a major role‚ memory impairment plays some role‚ and pure guessing plays little or no role. Moreover‚ we argue that misinformation acceptance has not received the appreciation that it deserves as a phenomenon worthy
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Eagle Impairment Case Question 1 IFRS According to the facts provided for Eagle in Italy‚ we assume that the commercial building‚ which represents a cash-generating unit (CGU)‚ meets the requirement for a recoverable test under IFRS. The impairment loss is required when the building’s book value exceeds the higher of the asset’s value-in-use and fair value less costs to sell. Carrying value 1‚100 > 900 Higher of Value in use (900)
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Abstract This paper was written to describe the impact of visual and hearing impairments on student’s academic achievement to teachers and other educators. Having knowledge of these impairments allows the teacher to better serve students with these impairments in the classroom. Hearing and Visual Impairments Hearing and visual impairments have a major impact on a person’s development and academic achievement. Hearing and seeing are critical to speech and language development‚ communication‚
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CHAPTER 11 DEPRECIATION‚ IMPAIRMENTS‚ AND DEPLETION TRUE-FALSE—Conceptual Answer T F T T F F T F F T T F T F T T F T F T No. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20 Description Nature of depreciation. Nature of depreciation. Depreciation‚ depletion‚ and amortization. Definition of depreciation base. Factors involved in depreciation process. Definition of inadequacy. Objection to straight-line method. Units-of-production approach. Accelerated depreciation
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An introduction to health and safety Health and safety in small businesses What you should know about – where to get more information It’s your business but we can help you look after it! Getting hurt at work or becoming ill through work is not a pleasant subject to think about. The reality is that over 200 people a year lose their lives at work in Britain. In addition‚ around 150 000 non-fatal injuries are reported each year‚ and an estimated 2 million suffer from ill health caused
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IAS 36 Impairment of Assets by Claudia Mezzabotta Dottore commercialista e revisore legale in Milan‚ Italy Member of IASCF SMEIG – London (UK) Member of EFRAG SME WG – Brussels (Belgium) November 5-6‚ 2012 “International Accounting” Course MIM Course UNITN Trento - Italy Objectives of IAS 36 • To ensure that assets do not exceed their recoverable amount • To define how recoverable amount is calculated • To indicate when impairment tests need to be conducted • To prescribe
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developments A comprehensive guide Impairment or Financial reporting disposal of longdevelopments lived assets Revised October 2011 To our clients and other friends ASC 360-10‚ Impairment and Disposal of Long-Lived Assets (ASC 360)‚ provides accounting guidance for impairments of assets that are held for use‚ held for sale and to be disposed of by other means. In one of its more challenging aspects‚ ASC 360-10 requires the use of fair value measurements for impairment of assets that are unique and
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Zalak Amin The Benefits of Physical Activity for Physical & Mental Health Physical exercise is a very important part of our lives. Everyone should be physically active at least 5 days a week for an hour. There are so many benefits you receive from even the simplest physical activities. There are physical benefits as well as mental benefits to exercising. The reason why everyone should be physically active is because America’s the fattest country. Obesity and being overweight is becoming
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Relationships between Physical Activity & Health 1a.Critically discuss the statement: Physical Activity/Exercise = Health Define the concepts of health‚ physical activity‚ and exercise. "Physical activity‚" "exercise‚" and "physical fitness" are terms that describe different concepts. However‚ they are often confused with one another‚ and the terms are sometimes used to represent each other. When in actual fact they are different. Physical activity is defined by SPARC as “movement on a daily
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