Introduction The Procter & Gamble Company was founded in 1837 by James Procter and William Gamble. The company started out manufacturing soap and built on innovation by 1890 the company was selling more six different kinds of soap (PG, 2006). As we know the rest is history the company was later incorporated in 1905 and sells their consumer products in more than 180 countries and has operations in approximately 70 countries. The Procter and Gamble Company has more than 100,000 employees domestic
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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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future, materiality, conservatism principle Fair representation, must comply unless departure results in more faithful representation, going concern is used unless the management is aware otherwise (in which case disclosure is required) Current asset/liability – held for trading purposes, expected to be realized, sold, consumed or settled within the entity’s normal operating cycle, or within 12 months after balance sheet date Cash – maturity of not more than 3 months and insignificant price risk
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is calculated as the excess of the asset’s carrying amount over its recoverable amount. The recoverable amount is the higher of the asset’s (1) fair value less costs to sell and (2) value in use. U.S. d. Impairment reversal. Under IFRS, long-lived assets (other than goodwill) must be reviewed for any indication that a
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Part 1: Asset Group An asset group is the unit of accounting for a long-lived asset or assets to be held and used, which represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities. https://asc.fasb.org/glossarysection&trid=2155835&id=SL2269348-110220 05-3 Property, plant, and equipment typically consist of long-lived tangible assets used to create and distribute an entity's products and services
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distribution system. This company believes that its success is from being able to link up with their customers to be able to provide them with many options to meet their specific choices and desires. The overall goal of The Coca-Cola Company is to use their assets in the most efficient way possible so they can become more competitive and grow as a company to generate revenue for their shareholders. The Coca-Cola Company has expanded its horizons in recent years. On October 2, 2010 the company bought out
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CHAPTER 3 CONSOLIDATION SUBSEQUENT TO DATE OF ACQUISITION QUESTION SOLUTIONS 3-1. An 80 percent ownership requires the preparation of consolidated financial statements. Regardless of the method used to account for the investment on the parent’s financial records, the investment income or dividend income is replaced on the consolidated income statement by the subsidiary’s revenue and expense accounts. The equity method is required if the parent prepares separate financial statements. Search term
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“Baker Hughes Fiscal 2011” Patrice Johnson Professor Harper ACC 100 May 15, 2012 Baker Hughes Incorporated supplies oilfield services, products, and technology services and systems to the oil and natural gas industry worldwide. The company offers drilling and evaluation products and services, including drill bits for performance drilling, hole enlargement, and coring; conventional and rotary steerable systems; measurement-while-drilling and logging-while-drilling systems to perform reservoir
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.............................................11 Inventory .......................................................................13 Long-lived assets ...........................................................14 Intangible assets ............................................................16 Impairment of long-lived assets, goodwill and intangible assets ............................................................18 Financial instruments .....................................................20 Foreign
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company. Due to its history, the company owns an important amount of PP&E. Therefore, the proportion of PP&E from its balance sheet is considerable – 77.1% of total assets. In contrast, company B, which is the new entrant, holds almost 50% of its assets in PP&E and the rest in current assets. However, a considerable portion of it s assets are held in cash (47%). This can be due to the fact that, being a new entrant the company didn’t yet invest so much in airplanes to expand its business (it only flies
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