Complete set of financial statementsA complete set of financial statements comprises:a) A statement of financial position as at the end of the period; b) A statement of comprehensive income for the period;c) A statement of changes in equity for the period;d) A statement of cash flows for the period;e) Notes, comprising a summary of significant accounting policies andother explanatory information; andf) A statement of financial position as at the beginning of the earliestcomparative
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décor retailers. While both compete for the same target market, an examination of each companies’ annual report reveals important differences in their strategies, which inherently differentiates the report presentation, accounting policies, and financial condition of the two corporations. Brief Overview Macy’s, Inc. was founded in 1858 by a Quaker businessperson named Rowland Hussey. The company has since expanded to operate 40 Bloomingdale’s locations and over 810 Macy’s stores, spanning
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fiscal year ended June 30, 2008. This is the sixth annual report issued for the consolidated government since the merger of the City of Louisville and Jefferson County governments on January 6, 2003. An elected Mayor governs the Metro Government and the Metro Council composed of twenty-six council members elected from each of the twenty-six council districts. All executive and administrative power of the consolidated local government is vested in the office of Mayor. Metro Government provides
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a. What type of opinion did the auditors issue on Google’s financial statements for 2013? What is the date of the audit opinion? Explain why the opinion date is different than the date of the financial statement. In auditor’s opinion, the financial statement referred to above present fairly, in all material respects, the consolidated financial position of Google Inc. as of December 31, 2012 and 2013, and the consolidated results of its operations and its cash flows for each of the three year in
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book value and revenues and expenses are combined retroactively. With the purchase method, the assets and liabilities of the acquired firm are adjusted to fair value; its reacquisition revenues and expenses are excluded from the combined income statement .In effect, the acquiree's books as of the date of the business combination are treated as if it were the end of its fiscal year, even though it may not be .For pooling accounting, however, the combinee's results of operations prior to the date of
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invest just enough allow SPEs not to be consolidated into Enron’s Financial statement. Enron had to transfer additional shares to SPE, Rapto, in a futile effort to support. Enron recognized revenues due to increase in stock price on stocks held in SPE. Anderson accounting firm formulated a mechanism to record gains in stock price but not losses and US GAAP equity method was misused. Mark to Market (MTM) accounting applied to no active market for financial instruments but used estimates regarding
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SAS No. 89; SAS No. 99; SAS No. 113. See section 9333 for interpretations of this section. Effective for audits of financial statements for periods ending on or after June 30, 1998, unless otherwise indicated. Introduction .01 This section establishes a requirement that the independent auditor obtain written representations from management as a part of an audit of financial statements performed in accordance with generally accepted auditing standards and provides guidance concerning the representations
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audited the Company’s consolidated financial statements included in the annual report issued the report on the effectiveness of PulteGroup, Inc. internal control over financial reporting as of December 31, 2010. It is their opinion that PulteGroup, Inc. maintained effective internal control over financial reporting. Balance sheets, income statements, stockholder equity, cash flows and other financial reports have fairly and accurately reported the PulteGroup, Inc. Company’s financial position. Although
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1. Engage in business activities and earn revenues and incur expenses. 2. Operating results are regularly reviewed by the chief operating decision-maker to assess performance and make resource allocation decisions. 3. Discrete financial information is available from the internal reporting system. C. Once operating segments have been identified, three quantitative threshold tests are then applied to identify segments of sufficient size to warrant separate disclosure. Any segment
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accounting numbers, which will contribute to the flow of international investment and benefit a variety of stakeholders. The efficiency and competitiveness of global capital markets rest on on the ability of financial statement preparers to communicate effectively with investors through financial reports. In spite of the global movement to accept IFRS, US adoption of IFRS is still uncertain. The majority of people believe that effective convergence to a set of globally accepted accounting standards
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