KPMG Three Little Pigs Inc. Solution KPMG Three Little Pigs Inc. Solution Several factors including increased supply have caused declining prices for live hogs on the spot market. Also as shown bellow futures prices will remain below the carrying cost for live hogs until nearly the end of the fiscal year. However processed pork products such as bacon, loins, and ham remain above the current cost of production. Three Little Pigs Inc. is capable of processing hogs into these products internally
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Union Accountants Memorandum To: Farmer Joe, CEO, Three Little Pigs, Inc. (PIGS) From: Accounting Consultant Subject: Assessment of Impairment Date: January 1, 2003 I. Facts During this fiscal year, with the capture of the Big Bad Wolf, there is an increase of supply of pork and the market price of pork is on the decline. Although the market price for hogs is forecasted to stabilize within the year, Three Little Pigs, Inc. (PIGS) is dealt with the dilemma of whether they should impair
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Darren Fedon - DLF0011 Case 04-4 Three Little Pigs, Inc. Background Three Little Pigs, Inc. (PIGS) is a provider of pork products to the food service industry and institutional markets in the U.S. PIGS develops and produces the majority of their hogs for internal processing (processed pork products) and while selling a portion for outside third parties (live hogs). During PIGS fiscal year 2003, an external factor has increased the supply of hogs on the market which in turn is pushing down futures
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preschool teacher, is reading the book Goldilocks and the Three Bears to the children. After he finishes reading, Mr. Fields asks the children, “How many bears lived in the house?” Rosie shrugs her shoulders and looks confused, but Jeremy exclaims, “Three!” Mr. Fields says, “That’s right, Jeremy. There were three bears in the story. Let’s count them together.” Mr. Fields turns the pages of the book until he comes to an illustration that contains the three bears. The children and Mr. Fields count the bears
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Mazoue’ The Potbellied Pig is just as good a pet as a dog, they're known to be one of the smartest animals to train in your home. Since the potbellied pig is smart and very trainable owning a own pig as a pet can be a wonderful experience. As the potbellied pig has become more popular as a pet, so has the information to care for him/her. Pigs have a lot of good qualities, which makes them very good pets. Pigs are very intelligent and learn right from wrong very quickly. Pigs are just like humans
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Three Little Pigs Case I. INTRODUCTION Three Little Pigs, Inc.(PIGS) provides pork products, and sells a quantity of hogs produced to a number of wholesalers, retailers, and third parties across the United States. PIGS has three inventory departments which consist of live hogs ready for sale, developing animals, and processed pork items. Management has concerns about how to evaluate their different levels of inventory, and how they should account for impairment. The issue of impairment
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Summary of the Facts Three Little Pigs, Inc. (PIGS) is trying to determine if they should impair their inventory due to a decline in futures prices. Although prices are declining, it is believed that the futures prices will begin to recover within the year. PIGS inventories consists of the following: live hogs to be internally processed, developing animals to be internally processed, internally processed pork products, live hogs to be sold to a third party, and developing animals to be sold to a
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Summary of the Facts Three Little Pigs, Inc. (PIGS) is trying to determine if they should impair their inventory due to a decline in futures prices. Although prices are declining, it is believed that the futures prices will begin to recover within the year. PIGS inventories consists of the following: live hogs to be internally processed, developing animals to be internally processed, internally processed pork products, live hogs to be sold to a third party, and developing animals to be sold to a
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Pig-out BBQ, Inc. Our Pork is Smokin'! Corporate Offices 24 Hickory Smoke Drive East Bumble, Alabama 30699 TO: THE LAW FIRM FM: Ronald T. Dumpp, Chief Executive SUBJ: Legal Advice Dear Lawyer, After a few recent events surrounding our purchase and use of "Evershine Flooring" by FloorCo, Inc., I felt it best that I write to you and ask for your formal legal opinion about this matter. I'll try and give you all the facts as best I can in this letter because I'm going to
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cofounder of Nova Capital Corp, was within 48 hours of signing a Purchase and Sale Agreement to buy American Printing, Inc.’s business forms division. This division was profitable, it had a big market share, and the market was mature and stable. Although this company was very attractive for Jim, this transaction still had some shortcomings such as it is highly leveraged; Jim seemed to buy a “pig in a poke”; and he have to personally guaranteeing $4 million of accounts payable while his net worth was less
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