Liquidity position 7 Profitability 8 Leverage 8 Asset Management 8 Audit Risk assessment and Audit Approach 9 • Going concern risk 9 • Revenue 10 • Expenses 11 • Inventory 11 • Account Receivables – valuation and existence 13 • Goodwill 13 • Account payables 14 • Capital Assets 15 Materiality 16 Evaluation of Internal Auditor work 17 Additional procedures performed at future inventory count 18 • Procedures performed during inventory count 19 • Procedures followed after inventory
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Varying Perspectives on Brand Equity By Jonathan Knowles 20 ❘ MM July/August 2008 Yo u s a y t o m a y t o a n d I s a y t o m a h t o . I started business life in finance (at the Bank of England in London), and in those early days I did not give brands a second thought. My life was dominated by financial facts and figures. And for the first 10 years of my career, I believed that these metrics were essentially all that were needed to manage and run a successful business. This view
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Background We’ve come a long way since making the first ever mobile call in the UK on 1 January 1985. Today, more than 400 million customers around the world choose us to look after their communications needs. In 30 years, a small mobile operator in Newbury has grown into a global business and one of the most valuable brands in the world. We now operate in around 30 countries and partner with networks in over 50 more. In an increasingly connected world, it’s no longer just about being able to talk
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Parker Gross MKTG 495 Case #3 – Monsanto I: Situation Analysis Monsanto is a company that some people may not be explicitly familiar with on a first name basis. However, the work that the company has done over the last century, with a larger emphasis on its most recent ventures, have been deeply engrained in our lives, our food, and our economy. Monsanto has those who advocate on their behalf in addition to their naysayers. While Monsanto has made huge strides in terms of biotechnology over
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IFRS and GAAP Kenneth Ray Dial Jr. ACC/291 5/30/2016 Professor Judith Bines IFRS and GAAP As international business increases globally the corporations across the world have the financial responsibility to become well versed with the two primary accounting methods used across the world: GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards). While both accounting methods do share some similarities there are also several differences that
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executive with Excellent Computer Peripherals ”Ltd. Excellent is a company with 10 years of, ‘existence and has a sound product range in computer peripherals. It sells its products at a slightly higher price in the market because of its goodwill for quality. Rajdeep is one of the best marketing executives of the company and enjoys several company benefits for his excellent performance. Rajdeep’s boss Mr. Mahendra is thoroughly satisfied with his work and likes Rajdeep. Rajdeep on
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|FRAMEWORK | | |U.S. GAAP |IFRS |Similarities | |Purpose of Framework |The FASB framework resides lower in hierarchy. |Management is explicitly required to |Both the frameworks are similar in | | |Management
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Tangible assets: Assets which t have physical existence or which are touchable. Ex: Plant and machinery, buildings, furniture etc. Intangible assets: Assets which don’t have physical existence or which are not touchable. Ex: Goodwill, Patents, etc. Share warrants: (Page 74 of Tata steel annual report) A warrant gives the holder the right but not the obligation to buy an underlying security at a certain price, a specified quantity at predetermined future time. A share warrant cannot be issued by
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IFRS 8 Operating Segments On 30 November 2006, the International Accounting Standards Board issued IFRS 8 Operating Segments, which replaces IAS 14 Segment Reporting. IFRS 8 is mandatory for annual financial statements for periods beginning on or after 1 January 2009, although earlier application is permitted. Once IFRS 8 is effective, segment reporting under International Financial Reporting Standards and US Generally Accepted Accounting Principles will be converged except for some minor
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Chapter 8 CONSOLIDATIONS — CHANGES IN OWNERSHIP INTERESTS Answers to Questions 1 Preacquisition earnings and dividends are the earnings and dividends applicable to an investment interest prior to its acquisition during an accounting period. Assume that P purchases an 80 percent interest in S on July 1, 2011 and that S has earnings of $100,000 between January 1 and July 1, 2011 and pays $50,000 dividends on May 1, 2011. In this case, preacquisition earnings and dividends are $100,000 and
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