...Table of Contents Deferred Tax Assets…………………………………………………….Page 3 Temporary Differences and Income Tax Provision……………………. Page 4 Defined Benefit Plan and Defined Contribution Plan………………….. Page 5 Share Based Compensation and Direct/Indirect Method………………. Page 6 Investing and Financing Activities and Noncash Transactions……....... Page 7 References……………………………………………………………… Page 8 Deferred tax assets are created when there are taxes paid or carried forward but are not yet recognized on the income statement. The amount of the deferred tax assets are calculated by taking into account the financial reporting standards for book income and the jurisdiction’s tax rules for taxable income. A deferred tax asset will only be recognized when the difference between the loss-value or depreciation of the asset is expected to offset future profit. A deferred tax liability is created as a result of temporary differences between the company’s accounting and tax carrying values, the anticipated and enacted income tax rate, and the estimated taxes payable for the current year. The liability may or may not be realized during any given year which is what makes it a deferred tax liability. Amazon is a huge company with many different parts to their balance sheet. It can be easily notices that Amazon does well at showing each item and including footnotes to fully explain their position for each item. Upon reviewing Amazon’s balance sheet there is an amount of deferred tax assets...
Words: 1566 - Pages: 7
...following questions. Chapters 9 &11 1. Two boats, the Prada (Italy) and the Oracle (USA), are competing for a spot in the upcoming America’s Cup race. They race over a part of the course several times. The sample times in minutes for the Prada were: 12.9, 12.5, 11.0, 13.3, 11.2, 11.4, 11.6, 12.3, 14.2, and 11.3. The sample times in minutes for the Oracle were: 14.1, 14.1, 14.2, 17.4, 15.8, 16.7, 16.1, 13.3, 13.4, 13.6, 10.8, and 19.0. For data analysis, the appropriate test is the t-Test: Two-Sample Assuming Unequal Variances. The next table shows the results of this independent t-test. At the .05 significance level, can we conclude that there is a difference in their mean times? Explain these results to a person who knows about the t test for a single sample but is unfamiliar with the t test for independent means. Hypothesis Test: Independent Groups (t-test, unequal variance) Prada Oracle 12.170 14.875 mean 1.056 2.208 std. dev. 10 12 n 16 df -2.7050 difference (Prada - Oracle) 0.7196 standard error of difference 0 hypothesized difference -3.76 t .0017 p-value (two-tailed) -4.2304 confidence interval 95.% lower -1.1796 confidence interval 95.% upper 1.5254 margin of error 2. The Willow Run Outlet Mall has two Haggar Outlet Stores, one located on Peach Street and the other on Plum Street. The two stores are laid out differently, but both...
Words: 1091 - Pages: 5
...market. With a recent strategic plan to expand its market to the Africa, Nigeria was its first destination. ABC Ltd. ABC Ltd., is a leading automobile assembling company based in Lagos, Nigeria. The company was incorporated in June 14, 2010. The company usually imports vehicles body parts and assembles them. It sells its products to the local market. Steps in unifying the different cultures between the two companies Having completed the merging of the two companies, the legal and financial aspect, culture clash pose a big challenge to the success of the merger. As the HRM of the XYZ Inc., the following are suggested steps to ensure that the two cultures work together to obtain the desired results of the two companies: 1. Set cultural integration agenda Organization’s culture can be defined as all the shared values, beliefs and behaviors that dictate how people do things in the organization. To integrate the two cultures, we first need to define cultural objectives in broad terms. And as the HRM, I have the responsibility to ensure that the objectives are realized. Setting the cultural agenda necessarily requires tough decisions to be made. This decisions involve whether the merger should adopt one firm’s culture or to integrate the two. The choice will depend on the one that will have a greater value of the deal. 2. Diagnosing the cultural differences that matter The second step is to pin-point significant cultural differences between XYZ and ABC. Diagnostics will identify...
Words: 951 - Pages: 4
...right around the corner, my wife and I have started to plan out the trips that we want to take. Though one of the trips will require a flight, travel for all of the other trips will be by means of our trusty old car, most requiring an overnight stay in the city we are visiting. After planning the logistics of the trips and making the necessary reservations, I was excited at the thought of the upcoming time off and chance to relax and refuel. I then proceeded to speak with my mother and ask if she could watch my dog for a few of the trips. I was surprised, however, to hear that she would not be able to watch my dog because she would be out of town on road trips herself that she had planned with friends. A few days later, I mentioned some of the trips I had planned to some colleagues at the office and some indicated that they, too, had road trips planned this summer. After further discussion with additional colleagues, I observed that many younger people were actually not going to go on many road trips this summer, while many older people actually had quite a few road trips planned. This led me to wonder if older drivers, in general, had a higher likelihood of having road trips planned this summer than did younger drivers. The goal of this study was to determine the proportions of each group who had trips planned and understand whether or not there was a significant difference in the mean number of trips planned between each group. 2. Data Collection I conducted a...
Words: 2148 - Pages: 9
... Compare and Contrast Final Essay 12/12/2014 Abstract This paper is to discuss the similarities and difference of two firm in two different countries. The analysis presented in this paper will help understand the differences between cellular services and rates. The basis of the paper will assist in the decision making when traveling abroad. I will compare and contrast the differences of each service. Introduction Cellular phones have become the way of the world. From country to country mobile services are being established. Most countries have their own established mobile networks by now. In this paper I will discuss two mobile service providers with similarities and differences. I will also talk about factors that impact the management decision making. I will assist a client in deciding which cellular service will suit his international travel needs. I will summarize this paper with valid examples, information, and citations to support my findings. The two firms that I have decided to analyze are AT&T and Glo Mobile. AT&T is a company based in the U.S. Globacom is a company based in several different countries in Africa. For purposes of comparison I will use Glo Nigeria. What is now known as AT&T, originally was founded in 1875. The original idea was established through an arrangement with Alexander Graham Bell (inventor of the telephone) and two other men who actually financed his invention. AT&T (American Telephone and Telegraph Company) became a...
Words: 769 - Pages: 4
...Running Head: DIFFERENCES BETWEEN GAAP AND IFRS 1 Differences Between GAAP and IFRS Accounting Practices Sharon Woodards Liberty University Intermediate Accounting II 302 Professor Ashley Harper November 7, 2014 DIFFERENCES BETWEEN GAAP AND IFRS 2 Both the IFRS ( International Financial Reporting Standards ) and the GAAP ( Generally Accepted Accounting Principles ) are a set of accounting rules that companies either can or must follow when preparing their financial statements. Set by policy boards, the United States enforces the use of GAAP as the set of rules of processes and standards that its companies must use for reporting and recording of their financial statements. At the same, other parts of the words use the IFRS as their set of rules for companies to follow. This IFRS set of rules were developed by the International Accounting Standards Board (IASB). Due to this, the world has been talking about combining the two standards into one globalized set of accounting standards that will comprise of both standards. The object of this would be to have the world recognize one set of globalized set of accounting practices. There are some differences that the US should be aware of before the convergence between the two ever takes place. Some of the major differences between GAAP and IFRS revolve around grants to employees, vesting, modifications, tax withholding, inventory differences, revenues and expenses...
Words: 2308 - Pages: 10
...10/01/2004 | |Family |$575.00 per month | |Single |$300.00 per month | In the event the contribution by the Employer is less than the required contribution rate, as determined from time to time by the Trustees if the Local 99 Plan, the Employer shall have the right to, and will, deduct from the wages of each employee an amount equal to the difference between the Employer contribution and the plan cost as determined by the Plan Trustees. The contribution by the Employer together with the amount withheld from the employees pay shall be paid to the Plan Administrator no later than the twentieth (20th) of the month following the month in which the deductions were made. In the event that there is a decrease in the premium of the Health and Welfare Plan during the term of this Agreement, the Employer agrees to contribute the difference in savings to the Central Pension Fund. a) Part-Time Employee Benefits: Effective October 1, 1997, part-time employees shall be paid two dollars and eighty-nine cents ($2.89) per hour worked in lieu of health benefits provided to full-timers. The above amount will be paid on all hours worked to a maximum of forty (40) hours per week. Section 6.2 Pension: The Employer agrees to contribute on behalf of all employees the following sums to the Central Pension Fund...
Words: 4514 - Pages: 19
...working on the Marketing Plan. The assignments in Weeks 1-4 will culminate in the Marketing Plan: Final Paper in Week Five. Assignment Instructions: In a three- to four-page paper (not including the title and reference pages), explain the difference between marketing objectives and strategies. Identify and justify the strategies you will use to achieve your marketing objectives (use examples to support justification). For your product (good or service), describe the next two elements of the marketing mix, pricing, and distribution objectives, as they relate to your product. You must use a minimum of two scholarly sources, not including the textbook, and your paper must be formatted according to APA Style guidelines. BUS 497 WEEK 4 MARKETING OBJECTIVES AND STRATEGIES Marketing Objectives and Strategies: Product, Pricing, and Distribution Continue working on the Marketing Plan. The assignments in Weeks 1-4 will culminate in the Marketing Plan: Final Paper in Week Five. Assignment Instructions: In a three- to four-page paper (not including the title and reference pages), explain the difference between marketing objectives and strategies. Identify and justify the strategies you will use to achieve your marketing objectives (use examples to support justification). For your product (good or service), describe the next two elements of the marketing mix, pricing, and distribution objectives, as they relate to your product. You must use a minimum of two scholarly sources, not including...
Words: 423 - Pages: 2
...organization's plan that combines all of its marketing goals into one comprehensive plan. There are so many varieties of marketing and communication strategies available that are used within the industry to promote business. Marketing Strategies are used to streamlines product development, help determine optimal prices, increase company sales, and establishes effective distribution amongst the company. Within this short essay it will include the two marketing strategy templates as well as the communication, the components that make up a strategy plan, appropriate marketing use of the templates, and the similarities/differences of the marketing and communication strategy templates 2 Marketing Strategy Templates and 2 Communication When considering marketing and communication plans, it is important to remember that all plans are similar in nature. They produce a written document that will guide the organization towards a goal. Having the plan in writing allows people from different areas within the organization to understand the collective goal. Two specific plans that will be reviewed are a Dental Marketing Plan and a Pharmacy Marketing Plan. Both are similar but targeted at different areas of health care. Communication plans are similar but outline how communication between internal or external stakeholders will occur. The same plans as the marketing strategy can be used, with different intent. Similarities and Differences The pharmacy marketing plan and dental...
Words: 603 - Pages: 3
...and GAAP have similarities as well as differences. There are two pension plans that are frequently used in accounting for pensions. These two plans are known as, defined contribution plan and defined benefit plan. Both GAAP and IFRS separate their pension plans, but their accounting for defined benefit plans differ. Another major difference occurs when recognizing actuarial gains and losses. Differences between IFRS and GAAP arise when distinguishing unrecognized past service cost. IFRS and GAAP also have their similarities. They both have similar views when it comes to their view of pensions and postretirement benefits. Both IFRS and GAAP also use the corridor approach when recognizing gains and losses. The defined contribution plan relies on an employer who contributes an amount on certain periods to a pension trust, while the defined benefit plan summarizes the benefits that employees will receive when they retire. There are similarities and differences concerning defined benefit plans. Both IFRS and GAAP recognize liabilities and costs for employee benefits during the period when the service is provided. It’s important to understand that GAAP refers to the defined benefit obligation as the (APBO), while IFRS states it as the (PVDBO). The differences start occurring when recognizing net funded status. Under U.S. GAAP, the status is considered overfunded or underfunded, after the difference between the fair value of the plan assets and APBO is calculated. IFRS...
Words: 589 - Pages: 3
...Intermediate Accounting III Table of Contents Introduction 3 Deferred Taxes 4 Temporary and Permanent Differences 5 Income Tax Provision 6 Defined Benefit vs Defined Contribution Plan 6 Earnings-per-share 7 Stock-based compensation 8 Statement of Cash Flows 8 Investing Activities 9 Non-cash Transactions 9 Conclusion 10 Works Cited 11 FedEx: Power of Global Trade Introduction The purpose of this paper is to analyze the annual report of a publicly traded company. I have chosen to review FedEx. This report will be reviewing the 2011 Annual Report issued by FedEx. The choice of FedEx is twofold. The first factor being that I am a little partially bias toward FedEx because I worked for one of their companies, FedEx Express, for over three years. FedEx Express was a fabulous company to work for because they offered a competitive wage and excellent benefits to part time hourly employees. The company’s ability to offer those competitive wages leads into the other factor, their impact on the global economy. FedEx is a massive corporation with reach to every market within the global economy. Their services are literally the life line that facilitates global trade. Without the air cargo industry, the global economy would be severely hindered. According to the FedEx 2011 Annual Report, 30% of the global GDP in 2010 was reliant by international trade...
Words: 3467 - Pages: 14
...Is the Difference in Accounting Treatment of Post-Retirement Benefits under IFRS Beneficial or Detrimental to the Financial Position of a Company Currently Reporting Under US GAAP? Megan N. Cook, CPA, CFE Accountancy 521 Professor Lawrence March 9, 2009 The first pension plan offered by an American employer was that of American Express in the year 1875. Amex’s plan did not resemble the plans that we see in today’s time; the first “modern” defined benefit plan was created in 1940 by the automotive behemoth General Motors. These plans of the past still do not resemble plans that we are familiar with today. In the past, employers could exercise a “pension put” option and, in essence, close the plan down at the current level of funding and turn the assets over to the retirees. This is not an optimal situation, as many plans at the time were severely under funded and retirees would be left with pennies on the dollar of what they were counting on for retirement. (Fortune, 2005) Post-retirement benefits are volatile on a couple of different fronts; up until the reforms in 1974 which created ERISA and the PBGC, employees had to put blind faith in their employers to secure their futures after their working years were over. (Fortune, 2005) On another front, these benefits pose a significant accounting problem – how should a company account for the costs and liabilities associated with these benefits they had to give their employees at a later and relatively indeterminable...
Words: 2667 - Pages: 11
...[pic] University of Information Technology and Sciences Assignment 1 Why International Companies differ from Domestic Companies Course Title: International Business Course Code: BUS 341 Department: BBA Date of Submission: February 16, 2012 Prepared For: Ayesha Binte Safiullah School of Business Prepared By: Samiul Islam Abir. ID 09310175 Why international companies differ from domestic companies? The companies doing their business in two or more country are international companies and the companies doing business in a single country only are domestic companies. There are many differences between these two types of companies. These differences occur due to the difference across borders. Nation-states generally have unique government systems, laws and regulations, currencies, taxes and duties, and so on, as well as different cultures and practices. So, What is Domestic Business: Domestic business is the exchange of goods, services, or both within the confines of a single national territory. It is always aimed at a single market and deals with only one set of competitive, economic, and market issues. The exchange is always with a single set of customers all the time, though the company may have several segments in a market. Domestic business may be sub-divided into Wholesale business, and Retail business. Wholesale is concerned with buying goods from manufacturers or dealers in large...
Words: 1506 - Pages: 7
...the knowledge and competencies of the nurse clinician, as it does for all health care providers (American Association of Colleges of Nursing [AACN], 2013, para 1). It is an understandably debatable subject amongst the nursing community regarding the differences between an associate’s degree nurse (AND) and the baccalaureate-degree level nurse (BSN). Some, like myself, may not really see the difference between the two when the only way you’ve been use to comparing the two preparations is when you’re providing skilled patient care. During my nursing studies, I routinely overheard my instructors mention that the community college nurses are always much stronger nurses when they entered the workforce. I now believe what they really meant was that, ADN nurses were more skilled with the task oriented areas of patient care. To be reasonably honest, I have never truly put considerable thought into the difference between the associates and baccalaureate nurse. I trust, that by the end of this assignment, I, and everyone else reading this paper, will have a greater understanding of their differences and the impact the prepared level has on patient care and outcomes. After World War II, Mildred Montag recognized that our nation needed a plan to alleviate a critical nursing shortage. In 1956, she founded the associate’s degree nursing program as a means to compensate for a national nursing shortage. Mildred Montag recognized the need for quicker alternate means of educating...
Words: 1302 - Pages: 6
...Two Methods of Losing Weight By: Tiwander Aleck COMM/155 December 18, 2011 Instructor: Shelagh Smith Two Methods of losing weight Today’s society is weight conscious, millions of people are trying to be picture perfect. From child hood everyone wants to be a prince or a princess, slim goes along with it. Weight is a major factor. Most people think to look good; they have to be slim and trim. With excess weight a greater problem than ever, the question of whether dieting or exercising is more likely to lose weight is vital. The purpose of my essay is to compare and contrast the expenses, health benefits, and weight loss between these two methods. Exercising to lose weight can be expensive, if you don’t do your research. Most exercise plans cause for gym equipment, memberships, video tapes, and clothing. These expenses can be lowered by finding an alternative exercise, which doesn’t cause for purchasing Items. Dancing and step aerobics can be done in your own home, avoiding membership fees. Unlike exercising, dieting doesn’t require equipment to lose weight. Dieting requires nutritious food, that’s low in calories. Dieting can get expensive, if you choose to lose weight by taking pills. Diet pills are required to be taken over a long period. To avoid these expenses, you should choose a healthy eating plan that will stick with you for the rest of your life. Exercising has its benefits. There are many exercises you can do to maintain good health. Some examples are...
Words: 1093 - Pages: 5
