statements. The cycle is as follows: 1. Transaction: the company enters into a transaction, for example a sale on credit is made. 2. Transaction analysis: the accountant analyzes the transaction in terms of which account has been impacted upon 3. Journalization: the transaction gets recorded in a source journal. For example, the credit sale would likely get recorded in a sales journal. Other journals are: purchases journal, cash receipts journal, cash disbursements journal,
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Example: NetOne Inc. expects free cash flows of $5 million each year. NetOne's corporate tax rate is 35%, and its unlevered cost of capital is 15%. The firm also has outstanding debt of $19.05 million, and it expects to maintain this level of debt permanently. What is value of NetOne without leverage? VU = PV(of FCF)= $5mil/0.15 = $33.333 million What is the value of NetOne's equity with leverage? E = VL - D = VU + PV(ITS) - D = VU + TC D - D = VU + D(TC - 1)= $33.333 + $19.05(0.35 - 1) = $20.951
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White Paper Food Service and Data Synchronization Sponsored by June 2006 Acknowledgements The International Food Distributors Association (IFDA) and GS1 US™ would like to thank the EFR/GS1 US Committee for their work on this paper. Additionally, the following participants of the committee were critical to the development of this document. Data Synchronization Committee Mark Barnekow Todd Brindley Allan Eklund Jodi Miller Pam Tann Lela Tripp Janet Zlokovich Amphire ConAgra Foods
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Intention to create legal relations Statement of the Rule To create a contract there must be a common intention of the parties to enter into legal obligations, mutually communicated expressly or impliedly (Rose and Frank Co v JR Crompton & Bros Ltd). It is open for the parties to use express language to indicate an intent (or lack of) to impose legal obligations on each other. Alternatively, this intention can be impliedly from the circumstances. The courts use an objective test
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was placed and the offer that was extended to her by Tony. Customers are not forced to buy from any one retailer. If the retailer advertises an item, peaches for example, five pounds for $1.00 and the customer is unable to purchase those peaches because they are all sold out, the customer is able to leave that store and purchase those peaches from another establishment. This argument may be hold true for frequently purchased items such as peaches, but it does not necessarily hold true for large
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just-in-time (JIT) delivery/purchasing life-cycle costs lockout criteria operating lease organisational buying behaviour reference group relationship management reverse marketing strategic partners total quality management (TQM) value analysis 78 Sales environment 3.1 DIFFERENCES BETWEEN CONSUMER AND ORGANISATIONAL BUYING There are a number of important differences in emphasis between consumer and organisational buying that have important implications for the marketing of goods and services in
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Ownership was often held for a future buyer and was often used to avoid a dower right. 2. Fee Simple: highest estate or absolute right in real property – essentially absolute ownership. Can be created where it terminates under certain conditions. For example: Fee Tail – a historical fee that restricts the inheritability of land to a limited class of heirs, such as the eldest male. 3. Future Estate: typically a component of a life estate 4. Leasehold Estate: Interest in land for a defined period of
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recognition issues regarding extended warranty contracts. Applicable Professional Pronouncements ASC 605-20, Revenue Recognition: Services (ASC 605-20) (FASB Technical Bulletin No. 90-1, Accounting for Separately Priced Extended Warranty and Product Maintenance Contracts (Technical Bulletin 90-1)) ASC 944, Financial Service — Insurance (ASC 944) (FASB Statement No. 113, Accounting and Reporting for Reinsurance of Short-Duration and Long-Duration Contracts (Statement 113)) FASB Concepts Statement No
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destroyed goods for a full refund. The following case is an example of four young college students making a mistake out of inexperience and youth. I will be defending the four students and showing why they should be able to rescind their contracts. Ariana (defendant) is 19 and purchased a sofa and framed print from Apartments ‘r’ Us (plaintiff) with cash for $1400. She notified the plaintiffs that she wanted to disaffirm the contract which was voidable at her discretion because she is considered
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introduce significant costs along nontax dimensions. Effective tax planning is part of a larger problem: the efficient design of organizations. Contractual perspective: contracts specify the rights of various parties to make decisions and to receive cash flows in differing circumstances. The tax-related cash flows specified by contracts affect the prices at which assets are traded and the ways in which production is organized by business units. Tax minimization: involves simply minimizing taxes without
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