The asset cost RM1000 on 1.1.x1 and the depreciation rate is 50 % of the book value or reduced balance. Full year depreciation is adopted. Difference btw straight line method(on cost basis) and Reducing Balance Method (on net book VALUE) Using Straight Line Method, the % of depeciation is based on the COST Yr x 1 the depreciation is = 50 x RM1000 = RM500 Effect is the NET BOOK VALUE = COST OF ASSET – DEPRECIATION of ASSET Yr 1 = THE BOOK VALUE = 1000 – 500 = RM500 Yr x 2 the depreciation
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With regards to the potential purchase of MML, analysis of the financial statements and notes from discussion with MML Management was completed. The following memo pertains to the suggested journal entries and notes to the financial statements to address the concerns under IFRS. Loss during the year MML’s loss during the year is a one-time event and not considered an ordinary course of business. However, not enough information was provided to determine whether the loss was dependent on the
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ASSIGNMENT in FINANCIAL ACCOUNTING Case 2-1: MAYNARD COMPANY (A)* 1. Prepare balance sheets as of June 1 and as of June 30, in proper format. 2. Make comments about how the financial condition as of the end of June compared with that at the beginning of June. In terms of retained earnings, the financial condition of Maynard Company as of June 30 is healthy at $229,446 which has increased from $221,511 as of June 1. Although the current ratio on June 30 at 2.15 is lower than the current
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Question 2 You were sent by SHAHPADU to conduct due diligence on the VEB in view of a takeover. What would you be looking for and what do you expect to find? Before we go further, it is the important to know the concept of due diligence. Then, due diligence is the process of investigating the details of potential investment to verify that all information is accurate. Thus, that information should give a realistic picture of how the VEB is performing now and how it is likely to perform in the
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Margaret Pesikov Sean Lenehan Jeff Braga 2 Table of Contents Questions to be answered Management Discussion & Analysis section and Miscellaneous Income Statement and Profitability Cash Flows Balance Sheet Liquidity and Efficiency Solvency 3 3 6 12 14 18 22 Relevant Documents Balance Sheet Income Statement 25 25 26 Evaluation 27 3 Questions to be answered: Management Discussion & Analysis section and Miscellaneous 1. Read the Management Discussion and Analysis
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Running Header: Week 1 FASB Assignment FASB Pre-codification standards Summary-Statement of Financial Accounting Standards No. 168 Statement of Financial Accounting Standards No. 168 was issued in June 2009. This statement became effective for financial statements issued for interim and annual periods ending after September 15, 2009. The statement replaces FASB Statement No. 162, The Hierarchy of Generally accepted Accounting Principles. FASB Accounting Standards Codification is the source
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Financial analysis for NIKE. Calculation: These financial measures for the fiscal years ending May 31, 2007 and 2006. • Working capital: Working capital = Current assets – current liabilities |Working Capital | | | | |2007 |2006 |
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William P. Worth ACCC 560 EXERCISES & PROBLEMS Chapter One January 13, 2012 EX 1-5Ikerd Company is a manufacturer of personal computers. Various costs and expenses associated with its operations are as follows. The company intends to classify these costs and expenses into the following categories: (a) direct materials, (b) direct labor, (c) manufacturing overhead and (d) period costs. | | 1. | Property taxes on the factory building. D | 2. | Production superintendents' salaries
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Wal-Mart‘s earnings and financial quality and report how this process relates to the ethics of professional accountancy. Most public companies are required to file its financial documents and annual reports with the SEC. To ensure that they are complying with both the financial and ethical guidelines ethical consistent with professional accountancy practices. Generally, companies like Wal-Mart posts ethical policies and procedures both in their stores and on their website. The SEC regulation
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