Restructuring Debt Scenario Understanding the current reporting requirements for long-term liabilities is critical when making the decision to make sacrifices for future economic benefits. Specifically these long term liabilities consist of bonds‚ mortgages‚ capital leases‚ as well as other types of debt. Bonds are one type of long-term liability‚ which are traditionally valued at the present value of the bonds expected future cash flows‚ which are made up of both interest and principal. Bonds
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Mohammad Hoque*** This study attempts to examine the impact of asset and liability management on the profitability of commercial banks in Bangladesh. Commercial banks are segmented into high profitable and low profitable and private and public banks. While applying Statistical Cost Accounting (SCA) methods study finds high earning banks experience higher returns from their assets and lower returns from their liabilities than the low earning banks. Results are inconclusive with regard to private
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be accounted for by applying the purchase method. This involves 3 key steps: a) Identifying an acquirer‚ b) Measuring the cost of the business combinations and c) Allocating the cost of the business combination to the identifiable assets and liabilities acquired. a) Identifying the Acquirer The acquirer should be identified for all business combinations‚ The acquirer is the entity which obtains controls over the other entity‚ There are a number of ways in which control can be achieved‚ Control
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Commerce English EMBA Program Cohort 5 | | Case Analysis: Kim Park (B): Liabilities By: Khaled M. Motawie Introduction As part of her plan to explore interesting accounting questions with her study group‚ Kim Park prepared a set of short case studies dealing with the recognition and measurement of liabilities. Kim knew from her earlier study group discussions that her fellow students expected her to prepare tentative answers to the questions
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AASB 112 is based on a balance sheet approach to account for income taxes and it covers: • the accounting treatment of current and deferred tax expenses; • recognition and measurement of current tax assets and liabilities; • recognition and measurement of deferred tax assets and liabilities; • the accounting treatment of the tax consequences of various transactions and events‚ including asset revaluations; • the accounting policies applicable for when an entity has tax losses; and • the disclosure
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Strict liability offences do not require proof of mens rea in respect of at least one element of the actus reus‚ usually the essential one. However‚ proof of mens rea may be required for some of the elements of the actus reus. Absolute liability offences do not require proof of any mens rea element‚ but are satisfied by proof of the actus reus only. Second‚ the distinction can be seen by examining the issue of causation In strict liability‚ the prosecution is required to prove the causation
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asset‚ provided the entity can control its use by other means. The accounting equation relates assets‚ liabilities‚ and owner’s equity: Assets = Liabilities + Stockholder’s Equity (Owner’s Equity) Assets = liabilities + Capital liabilities = Assets - Capital Capital = Assets - liabilities That is‚ the total value of a firms Assets are always equal to the combined value of its "equity" and "liabilities." The accounting equation is the mathematical structure of the balance sheet. Assets are listed on the balance
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The amount of income taxes actually paid for the year is reported on the Income Statement. The amount comes from the firm ’s income tax return and fit is not adjusted in any way. Therefore‚ the firm ’s actual transaction to record its income tax liability is the basis for the amount of the income tax expense reported on the Income Statement. The allocation method is a bit different. The actual amount of tax that is paid in the year is ignored when it comes to reporting income tax expense on the
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Task 1 A. Contrast liability in tort with contractual liability Principles of Responsibility distinction Tort liability in general‚ the principle of fault liability‚ under the special provisions in the law‚ to take the principle of liability without fault‚ if the law does not specify to which the parties the two sides nor the fault of the concept of fair‚ can also take the principle of equitable responsibility. Contractual obligations after the conclusion of the contract‚ or the formation of
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5 Tax base 7 RECOGNITION OF CURRENT TAX LIABILITIES AND CURRENT TAX ASSETS 12 RECOGNITION OF DEFERRED TAX LIABILITIES AND DEFERRED TAX ASSETS 15 Taxable temporary differences 15 Business combinations 19 Assets carried at fair value 20 Goodwill 21 Initial recognition of an asset or liability 22 Deductible temporary differences 24 Goodwill 32A Initial recognition of an asset or liability 33 Unused tax losses and unused tax credits
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