SECTION A Question A1 is COMPULSORY Question A1 Below are extracts from the financial statements of a listed company which operates a chain of bakery and sandwich retail outlets in the United Kingdom. Income statements | |2012 |2011 | | |£’000 |£’000 | |Revenue
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Chapter 3 Comparative International Accounting Systems and Practices * United States and United Kingdom as major countries in the context of the Anglo-Saxon culture area; * The Netherlands and Sweden as representatives of the Nordic countries; * Germany and Switzerland as representatives of the Germanic countries; * France and Italy as representatives of the developed Latin countries and; * Japan as a representative of the developed Asian countries. | ANGLO-SAXON ACCOUNTING * There
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Solution Manual Chapter 5 - Consolidated Financial Statements with Less than 100% Ownership 1. The FASB ASC Master Glossary defines a noncontrolling interest “The portion of equity (net assets) in a subsidiary not attributable, directly or indirectly, to a parent. A noncontrolling interest is sometimes called a minority interest.” 2. FASB ASC 810-10-10-1 defines the objective of consolidated financial statements as follows: “The purpose of consolidated statements is to present, primarily
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CASE JAGUAR PLC, 1989 CASE ASSIGNMENT QUESTIONS (Write no more than 3 pages, excluding eventual annexes) 1) Evaluate the strategic merits of combination between Jaguar and either Ford or General Motors. What are the sources of value created, if any, by such a combination? How should it be structured? (e.g., as a merger, as a joint venture, a minority interest, etc.) to capture the value you identified? As the question is to evaluate strategic merits between Jaguar and its future partner
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เกิดความสงสัยในตัวเลขการรับรู้รายได้และค่าใช้จ่ายในงบการเงินของ Krispy Kreme Doughnut จึงขอทำการ Restatement หรือขอตรวจสอบงบการเงินย้อนหลังของ Krispy Kreme Doughnut วิเคราะห์ ข้อมูลที่ทำให้ SEC สงสัยในงบการเงินของ Krispy Kreme Doughnut ยอดสินทรัพย์ที่สูงขึ้น ส่วนหนึ่งมาจาก Goodwill และสินทรัพย์ไม่มีตัวตน เกิดขึ้นตั้งแต่ปี 2002 ถึงปี 2004 เป็นช่วงของการซื้อคืนเฟรนไชส์ มียอดในงบดุลสูงขึ้นมากอย่างต่อเนื่อง ทุกปี ผู้บริหารของ Krispy Kreme Doughnut ชี้แจงว่าบริษัทมีการซื้อกิจการคืนในสาขาเฟรนไชส์ที่ไม่ประสบความสำเร็จ ตอนซื้อ คืนมีการตีราคามูลค่าสินทรัพย์รวมมูลค่าลูกหนี้ได้
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Chapter 1: * Establishing credibility through: * Caring * Competence * Character * Post-trust era: the viewing of companies as being against the publics best interest * Effective communicators establish trust by connecting with others * What determines trust in the workplace: * Honesty * Ethical behavior * Exchanges information willingly * The FAIR test helps examine: * Facts * Access * Impacts * Respect Chapter
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Ethical in accounting practice Ethics is a guideline for us to do what is right and what are wrong, but being unethical is not against the law, to be ethical in accounting practice there are 3 roles Trust, confidentiality and legal repercussions. Trust-Accountants must be worth trusting for understanding the law and legal aspects of the accounting issues. Confidentiality-In a company accounts would have the most information (client’s information, each colleague’s salary, company’s trading
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software, 3 years for servers, 5 years networking equipment, 5 years for furniture and fixtures, 10 years heavy equipment)”. (Amazon, 2015). Do these useful lives make sense? Yes, the useful lives make sense. What type of an asset is Goodwill? “Goodwill is the excess of cost over market value of the net assets when one
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Chapter 2 Worldwide accounting diversity Chapter Outline I. Considerable differences exist across countries in the accounting treatment of many items. These differences can result in significantly different amounts being reported in the financial statements prepared by companies using different GAAP. II. A variety of factors influence a country’s accounting system. A. Legal system – in code law countries, accounting rules tend to be legislated; common law countries tend to have
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production of income is a capital asset, but dealer property is not 4- Goodwill is a capital asset when generated within the business. IF a business sells its assets and received more than FMV of those assets, the remainder is considered a capital gain from the sale of goodwill a) Goodwill acquired with the purchased of a trade or business in an amortizable asset b) The ability to amortize, characterizes acquired goodwill as a sec 1231 asset rather the\an a capital asset 5- an option is treated
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