Essential oils are liquids extracted from aromatic plants by distillation, cold pressing or chemical extraction by solvents. Although they are called oils, they are not always greasy. It is claimed that 10% of plants can produce essential oils. They are highly concentrated and volatile substances. Greatly used in alternative medicine like aromatherapy, they have many virtues and have many health benefits, proven over the years. Its use dates back to ancient times, and its wide variety of therapeutic
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Flo Choi owns a small business and manages its accounting. Her company just finished a year in which a large amount of borrowed funds was invested in a new building addition as well as in equipment and fixture additions. Choi’s banker requires her to submit semiannual financial statements so he can monitor the financial health of her business. He has warned her that if profit margins erode, he might raise the interest rate on the borrowed funds to reflect the increased loan risk from the bank’s
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The IFRS is a better accounting standard system than GAAP because it is used internationally as the primary standard accounting system and it has more enhancing qualities First the IFRS is use internationally as the primary standard accounting system for at least 151 countries (European Union) consisting of two organizations overseeing practices (IFRS and IASB). The IFRS were created plans as a common worldwide language for business affairs. So companies accounts were able to be understandable
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IFRS习题(一)题目 Section A 1、 On 1 October 2005 Hydan, a publicly listed company, acquired a 60% controlling interest in Systan paying $9 per share in cash. Prior to the acquisition Hydan had been experiencing difficulties with the supply of components that it used in its manufacturing process. Systan is one of Hydan’s main suppliers and the acquisition was motivated by the need to secure supplies. In order to finance an increase in the production capacity of Systan, Hydan made a non-dated loan at
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3) Impairment: Impairment is the condition that exists when the carrying amount of a long-lived asset (asset group) exceeds its fair value (FASB 2012). Impairment refers specifically to Topic 360: Plant, Property and Equipment. There are are SEC docs located under 360 Property, Plant and Equipment/10 Overall/S99 SEC Materials. Within the SEC materials S99-2 discusses impairments. The goal of the
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773,454 Long Term Investments Investments in Warren Co. 87,500 Total Long Term Investment 87,500 Property, Plant and Equipment Land 125,000 Building 975,800 Accumulated Depreciation 341,200 Book Value 634,600 Total Property, Plant and Equipment 759,600 Intangible Assets Copyrights 105,000 Goodwill 100,000 Patents
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Securities 800 Total Current Assets 8,310 Long Term Assets: Goodwill 2,000 Long term Investments 5,000 Other Intangible Assets - Net 2,000 Property Plant and Equipment 20,000 Less: Accumulated Depreciation (6,000) Property Plant and Equipment - Net 14,000 Restricted Cash 125 Total Long Term Assets 23,125 Total Assets 31,435 Current Liabilities: Accounts Payable 1,900 Dividends Payable
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Word Count: 958 The purpose of this guide is to provide guidance to accounting students on the application of accounting standards. In order to do this, a brief outline of the Accounting Standards together with the Framework will be given along with an example to illustrate how to use the Accounting standards and the appropriate accounting treatment. The Accounting Standards provide a specific way in which accounting concepts are to be applied. Not only is it their aim to standardise general
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Annual Report Analysis for Adidas AG 1. Who are the firm’s auditors? Do they provide a clean opinion on the financial statements? As of 2015, Adidas elected KPMG AG Wirtschaftsprüfungsgesellschaft, a subsidiary of KPMG located in Berlin, to annually audit the company’s annual financial statements. These annual financial statements are completed following the provisions of the German Commercial Code and the German Stock Corporation Act. The auditors do provide a clean opinion on the financial
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SHEILA SHAW CONSULTING Income Statement For the Month Ended August 31, 2011 Fees earned $ 24,325 Expenses: Salary expense $1,550 Depreciation expense……………………………………… 675 Rent expense 1,200 Supplies expense 1,250 Insurance expense 1,000 Miscellaneous expense 715 Interest expense 65 Bad Debt expense 150 Repairs and Maintenance 200 Utilities expense 150 Payroll Tax expense 125 Office expense 525 Total expenses 7,605 Net income $ 16,720
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