Other Income (Expense): Interest expense Interest income Other, net Income Before Income Taxes Provision for Income Taxes Income Before Cumulative Effect of Change in Accounting Principle Cumulative Effect of Change in Accounting for Goodwill, Net of Tax Benefit of $10 NET INCOME BASIC EARNINGS PER COMMON SHARE: Income before cumulative effect of change in accounting principle Cumulative effect of change in accounting for goodwill Basic Earnings Per Common Share DILUTED EARNINGS PER COMMON SHARE: Income
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Revenue: The revenues are generated mostly from premiums on risk-based products, fees from management, administrative, technology and consulting services, sales of wide variety of products and services related to the broad health and well-being industry, and investment and other income. Another major source of income is derived from health care insurance premiums. The other various sources of revenues are identified as service revenues, enters for Medicare and Medicaid Services and Company’s Prescription
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and repairs are charged against operations. Renewals and betterment’s that materially extend the life of the assets are capitalized. Depreciation is computed on a straight-line basis over the estimated useful life of the related assets. For income tax purposes, depreciation is computed using the accelerated cost method (AICPA). Major classification and related useful lives are summarized below: Estimated | | Accumulated | | Useful Lives | Cost | Depreciation | Net Value | Land | - |
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investors. The issue at hand deals with the valuation of intangible assets, specifically the licenses from the Federal Communications Commission that have an indefinite life span. Apparently, the team at Emmis valued them on a net basis as opposed to the GAAP approved gross basis. McCann states in the CFO.com article that because “Emmis was in a loss position, the write-down created deferred tax assets for which the company determined a valuation allowance.” (McCann, 2009) So, basically because the
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Dr Pepper Snapple Group Term Project From the invention of the first soft drink more than 200 years ago to some of the industry's most beloved beverage brands, Dr Pepper Snapple Group (DPS) has a proud legacy of innovation, bold and distinct flavors, and entrepreneurial spirit. On May 7, 2008, DPS became a stand-alone, publicly traded company on the New York Stock Exchange as the result of a spin-off by Cadbury, plc that held the Cadbury Schweppes Americas Beverages business group of entities
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RECOGNITION OF ASSETS Accountants define assets as resources that a firm owns or controls as a result of past business transactions, and which are expected to produce future economic benefits that can be measured with a reasonable degree of certainty. Distortions in asset values generally arise because there is ambiguity about whether: * The firm owns or controls the economic resources in question: * Are the ventures controlled? * Are the leased assets owned by the lessee
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WILEY CPA EXAM REVIEW Financial Accounting and Reporting F O U R T H • concepts • problem-solving E D I T I O N • terms • rules Less Antman and criteria WILEY CPA EXAM REVIEW Financial Accounting and Reporting F O U R T H • concepts • problem-solving E D I T I O N • terms • rules Less Antman and criteria Copyright © 2006, by John Wiley & Sons, Inc. All rights reserved. Published by John Wiley & Sons, Inc., Hoboken, New Jersey Published simultaneously in Canada.
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Disclosure Analysis Paper Disclosure Analysis Paper Netflix is a company that lets people have access to movies both threw online access and digital video disc formats. Netflix has many different selections that people can choose from depending on their movie needs and their budgets. Netflix is traded publicly company that is currently trading at $353.50 per share according to the Bloomberg Business Week (Netflix Inc (NFLX:NASDAQ GS), 2014). There are many disclosures that are included in
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|FRAMEWORK | | |U.S. GAAP |IFRS |Similarities | |Purpose of Framework |The FASB framework resides lower in hierarchy. |Management is explicitly required to |Both the frameworks are similar in | | |Management
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Case – Drill Exercises* ACCT5910 Business Analysis and Valuation The University of New South Wales School of Accounting Lecturer Dr Peter Vassallo Question 1 Below is Target Corporation’s Income Statement for 2008. 1. Compute Target’s Net Operating Income Before Tax (NOBT). Provide a formal argument for including/excluding “Net Credit Revenues” in Target’s NOBT. Ans: COBT = 5,272 (see spreadsheet) Net credit revenues should be included. While the term”credit” suggests that it is a a financial
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