Case 10-2 1. Ida needs to test the U.S. commercial building for recoverability under both U.S. GAAP and IFRSs. Recoverability test is one of the requirement tests for impairment. As a result‚ we need to verify if impairment should be recognized. 2. The impairement is $600‚000. GAAP methodology of determining impairment uses a two-step recoverability test. Step one‚ requires a company to estimate the future undiscounted cash flows expected from the use of that asset and its eventual disposition
Premium Generally Accepted Accounting Principles Goodwill Depreciation
CAS 11-2 Amerbran Company Amerbran Company was a diversified company that sold various consumer products‚ including food‚ tobacco‚ distilled products‚ and personal care products and financial services. Financial statements for the company are shown in Exhibit 1. The 20X1 financial statements reflect the following transactions (dollar amounts are in thousands): 1. Depreciation and amortization expense was $115‚974. 2. Net income included a loss of $66‚046 resulting from the write-off
Premium Generally Accepted Accounting Principles Dividend Balance sheet
Case the Mystery of the Disappearing Oil Mat Jon Weakness 1. Increases in costs of goods sold (85m) and inventories(18m) disproportionate with growth of sales 2. Current purchasing system contributed to redundant purchasing and high inventory holding costs 3. Siti Aminah (CFO) has no experience in system and technology 4. Internal control weaknesses: Purchasing system Current purchasing system contributed to redundant purchasing and high inventory holding costs and caused increases
Premium Accounts receivable Accounts payable Invoice
1. Write a one-hour lesson plan for two of the following topics; a) A lesson to contrast the use of the present simple with the present continuous for elementary students. Course title: What do you like to do? Teacher: Jeff Cheong Students / Level: 10 students (Age 7-9) Elementary students from China Aims: I want my students to understand the difference between the usage of present simple and present continuous tense. Using a teach and practice approach‚ the lesson focuses on understanding
Premium Grammatical tenses Grammatical tense Present tense
Introduction Accounting and finance are two very important factors that exist in every company out there that is commercialized. Every firm needs to do accounting and manage its finance well in order to continue operating‚ an organization cannot run without any funds. The management of the company will need to evaluate the accounts and finance of the company to make important decisions‚ such as whether to invest in a certain stock or to buy more of a particular item to sell. In this report‚ we will
Premium Cash flow statement Generally Accepted Accounting Principles Balance sheet
If you are looking for a degree that can land you a good job‚ a high degree of job security‚ and available options when it comes to finding an employer‚ an accounting degree could be a great choice for you. There is a price to be paid for the popularity of accounting roles though‚ as the work is not always easy‚ there can be a high degree of detail oriented work involved‚ and most of the duties involved require a rather sedentary style of work.Accounting is largely the understanding‚ tracking‚ and
Premium Certified Public Accountant Accountant
Rosa parks has had a lot of accomplishments in her life. She is once of the African Americans who changed history. Most people when they think of Rosa parks they think of how she changed racial segregation. she changed it by not giving her seat up to a white man on a bus. Rosa is most known for the time she would not give up her seat to a white man on the buss. When Rosa was little she had it hard. She had a job as a seamstress but also a activist. A activist is a person who campaigns for some
Premium African American Black people Montgomery Bus Boycott
On December 1‚ 1955 Rosa Parks’ decided that she was going to sit in the white section on the bus in Montgomery‚ Alabama. African Americans were not permitted to sit in the front of the buses. Her refusal to give up her seat for a white man helped change segregation nationwide. Rosa Parks’ helped give African Americans equal rights in this world today. When Rosa Parks’ was younger‚ she had experience with racial discrimination and racial equality. When her parents separated her mother moved the
Premium Montgomery Bus Boycott Martin Luther King Jr.
* Write a 200- to 300-word response defining what intermediate sanctions are‚ their purpose in the criminal justice process‚ and their function as a sentencing alternative. Then‚ answer this question: Do you feel intermediate sanctions are an appropriate punishment? Explain your rationale. * Intermediate sanctions are sanctions that are more restrictive than probation and less restrictive than imprisonment. The main purposes of intermediate sanctions are to reduce the pressures of overcrowded
Premium Criminal justice Criminal law Criminology
rights movement in Montgomery‚ Alabama began. Rosa Parks became the first African American female civil rights activist when she was arrested for refusing to give up her set to a to a white person on the bus (Theoharis‚ 2013). In the 1950’s‚ African Americans were experiencing prejudice‚ through the acts of racism. Bordens & Horowitz (2002) defines racism as a negative evaluation that is based on the color of their skin. As a young woman growing up‚ Rosa experienced segregation in her life and was
Premium African American Black people Race