Properly accounting for subsequent events is important because investors’ opinions could be dramatically altered by the events and transactions that occur after year end. If subsequent events are not given proper consideration‚ the financial statements that are issued at year-end may be misleading. Accounting Standards Codification (ASC) 855 provides guidance on the proper accounting for and disclosure of subsequent events. Due to the potential impact subsequent events may have on the financial statements
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Hung Chu Political Science A180 Professor: Patrick Coaty July 10th 2010 What would you do to prevent another 9/11? How would you fight the war on terror? Throughout the book “Understanding the war on Terror”‚ I have got a full understanding of how the world terrorisms world. The idea of terrorism was actually established several centuries ago. Generally‚ terrorism is not only practiced by Rational Islamic group like Hezbollah or Al-Qeada; it had been planned in the Nazi‚ and the Soviet Government
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not restrict. What most people fail to realize is that the video game industry‚ like the film industry‚ is heavily regulated with a strict code of parental guidelines already in place. Even the game consoles to play these violent games have parental controls. What I fail to understand is that some parents believe its okay to give their children 18+ rated games even though they are well under that age‚ and say that these games are the sources of violence between children. If parents would not let a 10-year-old
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avoid default. The Big Three stated their demise would trigger 3 million layoffs within a year‚ plunging the economy further into recession. The purpose of the loans was to provide operating cash for GM and Chrysler‚ and to keep making auto loans available for car buyers. Ford Credit planned to use funds from the Term Asset-Backed Securities Loan Facility (TALF)‚ a government program for auto‚ student and other consumer loans. The auto bailout proposal from the Big 3 auto companies totaled $34
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Priscilla Hatch Personal Values and Organizational Ethics Case: The GM Bailout Stephen Jackson – Instructor January 22‚ 2013 1. How would Locke‚ Smith‚ and Marx evaluate the various events in this case? They would evaluate this case by claiming that the government ownership of companies is the kind of government ownership of the “means of production”. (Smith – the “father of modern economics” who is the originator of utilitarian argument for the free market. According to Smith‚ when
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AIG Contents Introduction This report deals with the American International Group (AIG) scandal of 2008. Before the collapse of AIG and its credit reduction‚ AIG was the largest insurer in the world with total annual revenue of $110 billion. On September 2008‚ AIG’s credit rating was downgraded‚ and AIG was without enough collateral for credit default swaps sold to banks around the world forcing AIG to accept a massive federal bailout package from
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Introduction AIG‚ American International Group Inc.‚ is one of the top multinational insurance corporations. AIG‚ with asset of 556 billion‚ provides insurance service for more than 150 different countries and it has over 630‚ 000 employees over the world. Even though AIG is such a giant corporation‚ it has encountered financial problems in the early 2000s. Under financial pressure and a lack of internal control‚ AIG have committed frauds resulting in several scandals. One of the accounting scandals
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Bank Bailout Outline I. Introduction II. Background III. Opposition’s point 1‚ refute‚ 1st support for thesis. a. Credit Card Act of 2009 b. No Change at all‚ Banks still operating the same way IV. Opposition’s point 2‚ refute‚ 2nd support for thesis. a. Creation of TARP b. $12.2 trillion dollars of tax dollars were spent wrong c. TARP allowed many banks to allow credit again d. A majority of banks have paid back TARP money e. After TARP
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Ann-Katrin Kohnle Organizational Behavior AIG American International Group‚ or AIG‚ started out as a company that represented American insurance companies in Shanghai. The company moved on to become a reinsurance company in the United States that would hekp insurance companies disperse their liabilites and therefore aid those companies to grow faster. In 1968‚ Maurice Greenberg took over as CEO and AIG grew and expanded into countries around the world. Today‚ AIG does not only provide reinsurance services
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drilling‚ both his patience and finances were running low. Finally‚ in 1908‚ the drillers reached almost 1‚200 feet and a fountain of oil spewed out. After long years filled with disappointment‚ pain‚ and despair‚ the Anglo-Persian Oil Company‚ what would become BP‚ was born. The company quickly opened trade on the stock market‚ and D’Arcy‚ who had lost nearly his entire net worth‚ became rich. BP the biggest environmental crimes in history BP aims to be the leading environmentally friendly
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