Financial Statements 2011 Contents Report to members 1 Report of the independent auditor to the members of Deloitte LLP 10 Consolidated income statement 11 Consolidated statement of comprehensive income 12 Consolidated balance sheet 13 Consolidated statement of changes in equity 15 Consolidated cash flow statement 16 Notes to the financial statements 17 Report to members The Board presents its report to the members and the audited financial
Words: 16221 - Pages: 65
from The New Yorker January 8, 2007 DEPT. OF PUBLIC POLICY The Formula Enron, intelligence, and the perils of too much information. by Malcolm Gladwell 1. On the afternoon of October 23, 2006, Jeffrey Skilling sat at a table at the front of a federal courtroom in Houston, Texas. He was wearing a navy-blue suit and a tie. He was fifty-two years old, but looked older. Huddled around him were eight lawyers from his defense team. Outside, television-satellite trucks were parked
Words: 7121 - Pages: 29
proprietorships and partnerships. 3. A business organized as a separate legal entity is a corporation. 4. Which of the following is the best definition of an internal user of accounting information? Managers who use accounting information to plan, organize, and run a business. 5. Which of the following groups uses accounting information primarily to insure the entity is operating within prescribed rules? Regulatory agencies 6. Which of the following groups uses accounting information to
Words: 595 - Pages: 3
the court applies default provisions. There is a significant possibility that the default provisions dictating the law will not align with the needs of the organizers. The most common methods of business operations are as sole proprietorships, partnerships, limited liability companies and corporations. As such, after careful review and revision of the different business organizations, I have decided that I would establish a Limited Liability Company (LLC). A Limited Liability Company
Words: 2431 - Pages: 10
disability or death of the owner brings the business to an end. PARTNERSHIP A partnership is a more common form of private ownership than the sole trader. Such an organization often begins as a family concern and progressively grows bigger. A minimum of two but not more than twenty individuals may form a partnership. A partnership is also required to be registered with Registrar of Businesses (ROB). An individual entering into a partnership should insist on a written agreement to safeguard his interest
Words: 2490 - Pages: 10
ISBN for an individual volume: 978-1-55219-599-4 About CGA-CANADA _________________________________________ CGA-Canada today The CGA designation focuses on integrity, ethics, and the highest education requirements. Recognized as the country’s accounting business leaders, CGAs provide strategic counsel, financial leadership, and overall direction to all sectors of the Canadian economy. The Certified General Accountants Association of Canada — CGA-Canada — sets standards, develops education programs
Words: 39811 - Pages: 160
Elaborate on the accounting treatment of Mudharaba or Musharaka Financing (T): Accounting treatment of Mudharaba Financing The capital that provided by Rab al-mal whether in form of cash or kind is recognized when paid to the mudarib. This is the view of majority of the jurists and if in instalment, it should paid of each other. Then, present in financial statements under ‘Mudaraba Financing’ or ‘non-monetary Mudaraba assets’ if not paid in cash whereas the capital is paid in kind, it should
Words: 564 - Pages: 3
expanded its operations into Brazil (the only foreign-based operations for Riggers). As a result of this expansion, the client has encountered two complex issues related to accounting for income taxes. During the 2012 year-end audit, the auditors must use professional judgment with regard to these two income tax accounting issues. The first issue relates to the client’s valuation allowance against a net operating loss (“NOL deferred ”) tax asset (“DTA”) in Brazil. The second matter is the Company’s
Words: 1529 - Pages: 7
CHAPTER 1 The Accounting Environment: What Is Accounting and Why Is It Done? QUESTIONS Q1-1. A variety of answers are possible but the essential elements are the production and communication of information so that stakeholders can make decisions. Q1-2. Financial accounting is concerned with providing information to those outside an entity such as investors, lenders, and CRA. Managerial accounting provides information to those inside the entity such as managers and other decision makers
Words: 10315 - Pages: 42
industrial partner, deduct first his share in earnings then treat the remainder as 100% to be shared by the remaining partners. TRUE 5. An industrial partner can legally share from partnership losses. TRUE 6. The memorandum method of recording share capital donation is based on the principle of accounting convenience and practicality. FALSE 7. Prior period changes are considered adjustments from Retained Earnings ending balance. FALSE 8. The appropriation for the cost of treasury
Words: 466 - Pages: 2
