7………………………………………………………………………………………………Impairment Pg. 7………………………………………………………………………………………………Current Liabilities Pg. 8………………………………………………………………………………………………Figure 4: Current Liabilities Pg. 8………………………………………………………………………………………………Contingent Liabilities Pg. 9………………………………………………………………………………………………Subsequent Events Pg. 9………………………………………………………………………………………………Long-term Liabilities Pg. 9………………………………………………………………………………………………Figure 5: Long-term Liabilities Pg.10……………………………………………………………………………………………..Figure 6: Interest Expense Pg
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Liquidity ● Measurement of Liquidity through Ratio Analysis 2.1 INTRODUCTION: The objectives of ALM are two fold: ensuring profitability and ensuring liquidity. Liquidity which is represented by the quality and marketability of assets and liability exposes the organization to liquidity risk. Unlike other risks like interest rate risk, market risk, operational risk etc. that can threaten the very solvency of the bank, liquidity risk is a normal aspect of every day management of a financial institution
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as current liabilities on the December 31, 2010 balance sheet which is issued on March 5, 2011 is a. $0. b. $300,000. c. $500,000. d. $800,000. a 3. Jenkins Corporation has $2,500,000 of short-term debt it expects to retire with proceeds from the sale of 75,000 shares of common stock. If the stock is sold for $20 per share subsequent to the balance sheet date, but before the balance sheet is issued, what amount of short-term debt could be excluded from current liabilities
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The following dates are relevant to a business combination: Acquisition date Agreement date Date of exchange Accounting for a business combination: determination of fair value IFRS 3 requires that the fair value of assets, liabilities and contingent liabilities is determined in performing the relevant calculations in a business combination. Fair value is basically market value Fair value is determined by judgement, estimation and a three-level ‘fair value hierarchy’ as follows: Note the
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A. 310-40-40 A creditor that receives long-lived assets that will be sold from a debtor in full satisfaction of a receivable shall account for those assets at their fair value less cost to sell, as that term is used in paragraph 360-10-35-43. The excess of the recorded investment in the receivable satisfied over the fair value of assets received (less cost to sell, if required above) is a loss that shall be recognized. For purposes of this paragraph, losses, to the extent they are not offset against
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Study Guide for Exam 2 ACC322 Chapter 13 * The differences between current liabilities and long-term liabilities. * Journal entries related to accounts payable (at the time of purchase and at the time of payment). * Journal entries related to interest-bearing notes: the issuance, interest expense, interest payment, and on the maturity date. * Journal entries related to zero-interest-bearing
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Dantuluri, Vininder Singh Apple Computers 2011 Financial Statement Analysis Abhaya Chauhan, Surya Dantuluri, Vininder Singh Contents 0 Introduction 2 Assets and Liabilities 2 Analysis of Various Ratios 2 Liquidity Analysis: 2 Current Ratio: 2 Quick Ratio: 3 Solvency Analysis: 3 Liability-to-Equity: 3 Times Interest Earned: 3 Profitability Ratio: 4 Return on Assets: 4 Return on Equity: 4 Activity Ratios: 4 RNOA (Return on Net Operating Assets): 4 Net working
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|Topic in Mastery of the |Chapter 3 - Building Your |Chapter 4 – Brain Teasers: Using|Chapter 5 – Cases to Accompany | |Financial Accounting Research |Business Vocabulary: Defining |FARS to Untangle the Mystery |FARS [Related Assignments at End| |System (FARS) Through Cases 2nd |Terms and Solving Problems |[See Introduction and Example |of Cases] | |Edition by Wallace [Chapter 1 |Through FARS [See Introduction |pp. 4-1 to 4-7]
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their financial statement? Recommendation: American Chemical Corporation should accrue and disclose the loss contingency on its Condensed Financial Statements from the lower court’s trial decision in the lawsuit from the Environmental Protection Agency. Sources: Discussion: This memo will discuss the accounting standards and adjustments for accruing and disclosing the loss contingency for American Chemical Corporation (ACC). Mr. Molina and the management team chose not to accrue and disclose
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Understanding Non-Financial and Current Liabilities Liability: an obligation that arises from past transactions or events, which may result in a transfer of assets or provision of services. Embody a duty or responsibility Entity has little or no discretion to avoid the duty The transaction that obliges the entity has occurred Measurement and recognition: financial liabilities are typ `ically recognized initially at their FV. After acquisition, most financial liabilities that are discussed in this
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