Activities. Operating activities include the cash effects of transactions that create revenues and expenses. They thus enter into the determination of net income. Investment activities include (a) acquiring and disposing of investments and property, plant, and equipment, and (b) lending money and collecting the loans, and financing activities include (a) obtaining cash from issuing debt and repaying the amounts borrowed, and (b) obtaining cash from stockholders, repurchasing shares, and paying dividends
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Leases: Practical implications of the new Leases Standard Introduction The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) (the Boards) are working together to improve the accounting for leases. In an effort to achieve this objective, the Boards reached a common ground that a customer (lessee) leasing assets should recognise assets and liabilities arising from those leases, including leases that are off balance sheet today. The Boards jointly published
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Unless otherwise stated, I am comparing values from 2006 to 2007 in order to cut down on writing. Monetary values are in millions of dollars unless otherwise stated. Common-size balance sheet is attached. Cash, Cash Equivalents, and Restricted Cash Del Monte Foods exhibit a dramatic change in cash and cash equivalents going from 12% of total assets to 0.3% of total assets. In monetary terms, cash and equivalents fall from $459.9 to a mere $13. Del Monte Foods acquired two companies (Meow-Mix
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a firm’s operating, investing, and financing activities. The latter is the purpose of the statement of cash flows. The statement of cash flows reports changes in the investing and financing activities of a firm. Significant changes in property, plant, and equipment affect the structure of assets on the balance sheet, for example, the age of the assets. Significant changes in long-term debt or capital stock affect the maturity structure of debt and the mix of debt versus shareholder financing.
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Fixed Assets in property, plant and equipment? d. Who has high accounts payables due to high salaries? e. Who has the majority of their assets booked as financial assets? 2. Next look at Accounts Receivables and Inventory Turn Over for the product businesses f. Who has the lowest AR and highest Turn? g. Who has the lowest AR and lowest Turns? h. Who takes the longest to collect their Accounts Receivables? 3. Next look at the Plant & Equipment and Net Profits
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31,000 Inventory 47,000 Total Current Assets 97,700 Total Current Assets 107,900 Property, Plant & Equipment 100,000 Property, Plant & Equipment 95,000 Less: Accum. Depreciation 16,500 83,500 Less: Accum. Depreciation 15,000 80,000 Total Assets
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the customer a 15 day grace period after the initial 31 days. This would be an average of 46 days to collect payment. Out of the 5 company’s B had the only reasonable amount of 48 collection days. Company B also had a high percentage of property plant and equipment which we be expected when one produces electric services for an entire city or state. Also when looking at industry standards electric utility companies had a standard debt/asset ratio of .61, company B had a ratio of .65. Company E–
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CHAPTER 10 PLANT ASSETS, NATURAL RESOURCES, AND INTANGIBLE ASSETS SUMMARY OF QUESTIONS BY OBJECTIVES AND BLOOM’S TAXONOMY Item 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 57. 58. 59. 60. 61. 62. 63. 64. 65. 66. 67. 68. 69. 70. 71. 72. 73. 74. 75. 76. 77. 78. 79. 80. 81. 82. 83. sg st a SO 1 1 1 1 1 1 2 2 2 2 2 3 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 2 2 2 2 2 2 2 2 BT K K K K K C C K C K K C K AP C C K C AP AP AP AP K C C AP K C AP AP K K K K K C K C K Item 13. 14. 15. 16. 17. 18. 19. 20
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How does IAS 2 require inventory to be reported on the balance sheet? How does U.S. GAAP require inventory reported on the balance sheet? 8. Which items should be included in the cost of property, plant, and equipment under IAS 16? 9. What are the two models allowed for measuring property, plant, and equipment at dates subsequent to original acquisition? 2 10. Define fair value in IAS 16. 11. If the enterprise chooses to follow the revaluation model, revaluation must be made ______ ________ that
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Snyder’s-Lance is a snack manufacturing company that has recently acquired new companies to grow their brand of product. They produce pretzels, chips, crackers and a wide variety of other snacks. Snyder’s Lance auditing firm is KPMG LLP independent auditing firm. They provide a clean opinion on the financial statements. They are objective supporting their findings with evidence. The company grew over 50% from 2011. During 2012 Snyder’s-Lance acquired Snack Factory LLC for $343.4 million
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