Hence, the SEC asked Kodiak Energy to perform a restatement under item 4.02 of the 8k disclosure rules. This item covers non-reliance on a previously filed financial statement and the related audit report. In accordance with the SEC’s request, Kodiak Energy put in a notification of late filing for their 2008 fiscal report and corrected for the transaction errors in March 2009. After the error adjustments, the restated financial reports showed an overall increase of 3.5 million dollars in the reported acquisition cost and related issuance of common shares. After the fiasco surrounding the acquisition of the Thunder River assets, shareholders lost faith in Kodiak Energy.
Continue to look into the “Andy Defresne” marketing program responsible for the variation. e) Per the Inventory Manger, the increase in inventory is due to a combination of happenings throughout the year. $5,000,000 of the increase is attributable to a decrease in sales and a higher turnover rate. $11,000,000 of the increase in inventory is due to the purchase of materials from suppliers to receive a cheaper rate for the long haul. $3,000,000 of the inventory happened secondary to a reversal of a previous write down, which was incurred in 2002.
Depreciation affects cash flow by reducing the amount of cash a business must pay in income taxes. 3. Calculate the current and quick ratios based on the projected balance sheet and income statement data. What can you say about the company’s liquidity position in 2013? AS the current and quick ratios both went down over the past year, I am concerned that the company liabilities may be rising faster than assets and we may not be able to liquidate assets quickly enough to cover debt, if necessary.
Premier Investments Ltd dropped its current ratios sharply from 4.27 to 1.74. That indicates Premier Investments Ltd transferred its current assets to noncurrent assets or it got more current liabilities. However, it is still has less current liabilities covered it assets compared with David Jones Ltd. So David Jones Ltd needs to make a financial plan to meet the coming current liabilities, or they may get a financial crisis. Quick ratio Current ratio measures the current assets to be turned into cash to meet its debts in one year.
Jackson and the Second Bank of the United States. The war of 1812 left our economy in turmoil. The banks had started printing more bank notes than they could back to pay off the debt accumulated during the war. This only made things worse by causing high inflation. Also in the wake of the war our national credit score had dropped dramatically and was close to a record low making it nearly impossible to finance necessary operations of the Federal Government.
During autumn of 1929 the stock market began behaving highly volatile. Stock market prices were expanded to just about breaking point, and then suddenly it crashed. Because of the Stock Market Crash the gross national product dropped 40 %, $6.1 billion in 1929 to $3.5 billion in 1933 (The Canadian History Page). The Bank had no money left because of the effect of the stock market crash. Wages in the industrial sector were not keeping up with huge increase in manufacture and profits.
Checkable deposits contract by $2,800, but $700 is converted into currency held by the public. The money supply contracts by $2,100. b. Checkable deposits contract by $14,000, but $700 is converted into currency held by the public. The money supply contracts by $13,300. c. Checkable deposits expand by $3,750, but currency in circulation falls by $750.
This in turn further delayed the implementation of their regional and centralized inventory management system delay by ten months. Now Captiva is faced with inconsistency in their standards for operating, and their regional and centralized management system is performing poorly. This includes having major discrepancies within their inventory management system. Captiva Conglomerate has gone over budget for an operating platform that is more of nightmare than a help to its business. Lastly, the contract was written in a manner where if would be very difficult for Captiva to sue SOS.
In addition, in each year a large compeonet operating income was from restructing and other unusual items – to have 3 years of unusual items seems to be an abuse of the idea of an “unusual item”. In 1989 Alpha’s primary source of cash was from finacning: long term debt, short term debt, and stock sales. They invested heavly in depriacable assets and capitailized software which led to a neigitive cash flow from investing. In 1990 the primary souce of cash was from investing – but really more aptly called “de-vesting” – the sale of discontinued operations and assets provided the captial needed to pay back long term debt and short terms loans. In 1991 the major source of cash was from operations, resturcting and accounts recievable and the major uses of cash we repaymnet of long term debt.
Major items affecting cash flows Users of cash | 1991 | 1990 | 1989 | Account Receivables | 10837 | 613 | 1550 | Inventory | 951 | 810 | - | | | | | Sources of cash | 1991 | 1990 | 1989 | Account Payables | 5657 | (310) | 2067 | Depreciation and Amortization | 4028 | 2701 | 2231 | 9. Net Income: Increasing 10. Cash flow from operations :Increases from 1989 to 1990 and decreases from 1990 to 1991 11. Capital Expenditures: Increasing 12. Dividends: Not Declared 13.