Case Treppen aus Nord‐ Case ”Treppen aus Nord‐ Nordwegen” g Story Intro • "We must not underestimate the risks of this project. Johannes Stiklestad looked this project " Johannes Stiklestad looked at his in‐law worriedly. Briefly, Per Moen had a slightly annoyed expression, but he controlled himself quickly. He was fully aware that they were talking about a big investment for such a small business, and that the implementation of the project would require great efforts. If it should
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Identify all the accounting policy changes and accounting estimates that Harnischfeger made during 1984. Estimate, as accurately as possible, the effect of these on the company’s 1984 reported profits. Harnischfeger made significant accounting policy changes after their financial crisis and specifically in 1984. One of the major changes was the inclusion of the full sale price of construction and mining equipment the company purchased from Kobe Steel, Ltd and sold themselves. These sales aggregated
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Case Analysis 10-3 Kansas City Zephyrs Baseball Club, Inc. I.Issues Why does net income not equal cash flows? Why do we need accrual accounting? (Why do not we fire all accountants and just publish summary bank statements) Why do the differences between owners’, players’, GAAP and truth number exist?(Can accounting numbers be neutral representations of what happened? What happens if a retired non-roster player (e.g. Joe Portocararo) returns to the active roster while continuing to earn the same
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Week 4: Harnischfeger Inc. 1. Describe clearly all of the accounting changes Harnischfeger made in 1984. 1. There is a change in the depreciation method. They change from accelerated depreciation to straight line method. Because they change for the accelerated depreciation to straight line depreciation the will record lower cost. This will lower the total cost en thereby increase the net profit. 2. The estimated depreciation lives of the assets in U.S. are revalued. In the notes they say that
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Case Study: | Harnischfeger Corporation | | | Q1: Changes in accounting policy and accounting estimates. (i) Inclusion of full sales price of construction and mining equipment purchased from Kobe Steel, Ltd. (later resold by the Corporation) in net sales If the Corporation continued with the prior recognition, which was to recognize gross margin, a loss of $5.7 million would be reflected in net sales. However, under the new recognition method no loss would be recorded, instead, revenue
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servicio de asesoramiento de inversión especializados en acciones de respuesta, estaba revisando el informe anual de 1984 de la Harnischfeger Corporation (Anexo 4). Su atención fue atraída por los $ 1,28 por Harnischfeger beneficio por acción neta reportada para el año 1984. Sabía que apenas tres años antes la empresa había enfrentado a una grave crisis financiera. Harnischfeger había de pagar su deuda y se detuvo después del pago de dividendos reportando una pérdida neta de 7,64 dólares pesada por acción
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Harnischfeger Corporation Harnischfeger Corporation was a machinery based company based in Milwaukee, Wisconsin. The company had initially started as a partnership; however, in 1910 it was incorporated in Wisconsin under the name of Pawling and Harnischfeger. The company finally went public in 1929 and was listed in the New York Stock Exchange under the new name Harnischfeger. The company had two major segments of business P&H Heavy Equipment Group, which consisted of the construction equipment
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Harnischfeger 1. In Note 2 of Harnischfeger’s financial statement, the company included net sales of the construction crane products purchased from Kobe Steel, which was previously only reported in the gross margin. Additionally, financial statements of some foreign subsidiaries were included because their fiscal years ended July 31, 1984. An increase in net sales was reported by $5.4 million. Historically, Harnischfeger reported the depreciation at a principally accelerated rate. In 1984, the depreciation
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changes and accounting estimates that Harnischfeger made during 1984. Estimate, as accurate as possible, the effect of these on the company’s 1984 reported profits. Accounting policy changes made on core business activities: • Harnischfeger included net sales figure from Kobe Steel Ltd. Previously, only net gross margin generated from transactions with Kobe Steel Ltd was included. This change resulted in a net sales figure increase of $28 million. • Harnischfeger incorporated certain foreign subsidiaries’
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live wires or connections. The wrist strap increases the risk of electric shock. WARNING Always follow appropriate electrical safety and electrostatic safety precautions to prevent personal injury or component damage. Copyright © 2004 Harnischfeger Corporation Appendix D, DCM Procedures .fm -D.1- P&H Mining Equipment - Technical Communications , Version 00 - 02/03 2800XPB UCS Electrical Maintenance and Repair Manual NOTICE If this is the first time using Drive Windows on this
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