Prudence Preparation of financial statements requires the use of professional judgment in the adoption of accountancy policies and estimates. Prudence requires that accountants should exercise a degree of caution in the adoption of policies and significant estimates such that the assets and income of the entity are not overstated whereas liability and expenses are not under stated. The rationale behind prudence is that a company should not recognize an asset at a value that is higher than the amount
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financial accounting. Prerequisite: AP/ADMS 2500 3.00. Prior to Fall 2009 Prerequisite: AK/ADMS 2500 3.0. Course credit exclusion: AK/ADMS 3585 3.00. Learning Outcomes After completion of the course, apart from mastering the technical knowledge of the revenue and asset side of the financial statements, students should also 1. Understand the importance of ethics in the accounting profession and realize potential conflicts of interest that one may encounter in the profession. 2. Begin to learn how to see
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Financial reporting developments A comprehensive guide Transfers and servicing of financial assets Revised May 2014 To our clients and other friends We are pleased to provide you with the latest edition of our Financial Reporting Developments publication on accounting for transfers and servicing of financial assets. This publication has been updated for further clarification and enhancements to our interpretative guidance. Applying ASC 860 in practice continues to be challenging. ASC 860’s
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Buildings Cash Common Stock Copyrights Cost of Goods Sold Debt Investments Depreciation Expense Discount on Bonds Payable Dividend Revenue Dividends Dividends Payable Equipment Freight-Out Gain on Disposal of Plant Assets Goodwill Income Summary Income Tax Expense Income Taxes Payable Insurance Expense Interest Expense Interest Payable Interest Receivable Interest Revenue Inventory Classification A Current Liability Current Asset Plant Asset—Contra Plant Asset—Contra Operating Expense Current Asset—Contra
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Financial Accounting Managerial Accounting Primarily “internal” oriented Tax Accounting Primarily “external” oriented Financial Accounting and Reporting Generally Accepted Accounting Principles (GAAP), International Accounting Standards (IAS), International Financial Reporting Standards (IFRS) Financial Statement / Annual Report Balance Sheet / Statement of Financial Position Income Statement / Statement of Comprehensive Income Statement of Cash Flows Statement of Changes
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Bharti Airtel Limited Annual Report 2010-11 Board of directors Sunil Bharti Mittal Akhil Gupta Chua Sock Koong N. Kumar Ajay Lal Craig Ehrlich Pulak Prasad Rakesh Bharti Mittal Tan Yong Choo Evan Mervyn Davies Rajan Bharti Mittal Hui Weng Cheong Nikesh Arora Salim Ahmed Salim Tsun-yan Hsieh Manoj Kohli Table of contents Corporate information Performance at a glance rformance Chairman's message airman's CEO (International) & JMD's message O
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interesting Financial Snapshot Reported 1 Adjusted 1,2 As at or for the year ended October 31 2015 2014 2015 2014 19,389 18,223 19,391 18,223 liabilities3 (CCPB) (p 41) 1 1,254 1,505 1,254 1,505 Revenue, net of CCPB (p 38) 18,135 8 16,718 18,137 16,718 612 561 612 561 12,182 10,921 11,819 10,761 4,405 4,333 4,681 4,453 6.57 6.41 7.00 6.59 12.5% 14.0% 13.3% 14.4% (3.0)%
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market and each of the Canada-Europe, Canada-Pacific, Canada-Caribbean/Central America and Canada-South America markets. Passenger transportation is the principal business of the Corporation and, in 2009, represented 87% of its total operating revenues. During 2009, Air Canada, together with Jazz, operated, on average, approximately 1,331 scheduled flights daily and carried almost 31 million passengers. In 2009, Air Canada and Jazz provided direct passenger air transportation to 156 destinations
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Financial Focus Review CONTENTS Chapter 1 Revenue Recognition............................................................................................. 1 Chapter 2 Expense Recognition........................................................................................... 15 Chapter 3 Accounting Adjustment...................................................................................... 25 Chapter 4 Financial Statements.........................................................
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Question 1 1. Differences in operations ACTAVIS | DRL | * Selling, General and Administrative expensesThe SGA expenses have risen as a percentage of the Net Revenues of Actavis in 2012 by 55%. The number of employees have gone up from 6686 to 17700 (refer Employees sub-topic in Page 22 of 2011 and 2012 10K reports) through these acquisitions and this has significantly contributed to the increase in the Administrative expenses of the organization. | * Selling, General and Administrative
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