ACCOUNT CLASSIFICATION AND PRESENTATION Account Title Accounts Payable Accounts Receivable Accumulated Depreciation—Buildings Accumulated Depreciation—Equipment Advertising Expense Allowance for Doubtful Accounts Amortization Expense Bad Debt Expense Bonds Payable 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
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Text and Answer Do it! p. 52 p. 53 p. 62 p. 68 Work Using the Decision Toolkit Review Summary of Study Objectives Work Comprehensive Do it! p. 72 Answer Self-Test Questions Complete Assignments Go to WileyPLUS for practice and tutorials Read A Look at IFRS p. 96 study objectives After studying this chapter, you should be able to: 1 Identify the sections of a classified balance sheet. 2 Identify and compute ratios for analyzing a company’s profitability. 3 Explain the relationship between a retained
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1) scope of the analysis: companies assigned and their annual reports The listed firm assigned to me is Saipem S.p.A. is an Italian oil and gas industry contractor (also “Saipem” hereafter). The firm is a subsidiary of ENI S.p.A., the largest Italian energy company, which currently holds a 42.93% share in Saipem. The listed competitor of the firm assigned to me that I choose is Schlumberger Limited (also “Schlumberger” hereafter). In the World’s Top 10 biggest oilfield services companies list
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me to believe that this asset needs to be tested for impairment. The future cash flows should be used from the probability table (Exhibit A) in order to determine the value of the asset. Statement of research problem or question: What does US GAAP say about: 1. How does management perform asset impairment testing? 2. What categories of assets and liabilities should be included in the test? 3. Should an asset impairment loss be recognized? Plausible Alternatives: Question 1 • Compare
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Running head: OFF-BALANCE SHEET FINANCING 1 Leases: Off-Balance Sheet Financing and the Strive for Transparency Today Brian Edman A Senior Thesis submitted in partial fulfillment of the requirements for graduation in the Honors Program Liberty University Spring 2011 OFF-BALANCE SHEET FINANCING Acceptance of Senior Honors Thesis This Senior Honors Thesis is accepted in partial fulfillment of the requirements for graduation from the Honors Program of Liberty University. 2 ______________________________
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Chapter One: The Canadian Financial Reporting Environment Accounting is the identification, measurement, and communication of financial information about economic entities to interested persons. Stakeholder Investors/creditors Management Securities commissions and stock exchanges Analysts and credit rating agencies Auditors Standard Setters Various What is at stake? Investment/loan Job, bonus, reputation, salary increase, access to capital markets by company Reputation, effective and efficient capital
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of the financial statements. You have indicated in the past that you are leaning towards issuing convertible debt because it’s deemed to be equity. This is not the case, under IFRS the company that issues the convertible debt must allocate the investment into equity and debt. This differs from treatment under GAAP where the full amount was treated as debt. This may be advantageous to assist in keeping the debt to equity covenant in the tolerable range established by the bank but we would need
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John M. Olin School of Business ACCOUNTING 3610 - FALL 2008 INTERMEDIATE FINANCIAL ACCOUNTING THEORY I EXAM # 1 (100 Points) There are a total of 100 points on this exam. There are five problems, and the total amount of points allocated to each problem is as follows: Points Earned Problem 1 – 20 Points _______ Problem 2 – 30 Points _______ Problem 3 – 25 Points _______
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NINJA CPA REVIEW® NINJA Notes 2015 Auditing & Attestation Table of Contents The N.I.N.J.A. Framework I. Engagement Planning 8 II. Internal Control 25 III. Auditing & IT 36 IV. Evidence & Risk 42 V. Audit Reports 57 VI. Audit Sampling 66 VII. Professional Responsibilities 77 VIII. International Auditing 84 2 The N.I.N.J.A. Framework NAIL THE CONCEPTS Watch your CPA Review videos first – before working any assigned homework questions. The CPA Review
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Management CR: Corporate Reporting CRM: Customer Relationship Management EPM: Enterprise Performance Management ERP: Enterprise Resource Planning FASB: Financial Accounting Standard Boards IASB: International Accounting Standard Board IFRS: International Financial Reporting Standards IIAA: International Institute for Analytics IIRC: International Integrated Reporting Council IT: Information Technology ICR: Integrated Corporate Reporting KPI: Key Performance Indicator
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