The company uses netting policy for cash collaterals held against them. If the fuel derivatives are in net asset position, the cash collateral amounts are netted again current outstanding derivatives associated with that counterparty. Current Assets: Inventory a. Inventory Turnover: Southwest’s cost of goods sold has been consistent for the past 4 years. Inventory for 2011, 2012 and 2013 were consistent until a significant drop in 2014.
2) The senior accountant is correct because he is using the IFRS regulation standards. The senior accountant noted on his first step that “The lease term is for three years. The useful life of the equipment is four years. Since the lease term is for a major part of the useful life of the equipment, it is a finance lease.” Under the IFRS standards, a lease is considered a finance lease when: a) The non-cancelable lease term is for “Major Portion” of the expected economic life of the asset. So the lease term was 3 years, and the useful life of the equipment is 4 years.
spent a total of $965,574,991 on property and equipment additions. The company had nearly $13.1 billion dollars in depreciated assets. The reason of the depreciation is because of underperforming restaurants both during 2002 and 2003. The financial statement that was chosen to find this information regarding Landry’s property and equipment additions was the income statement. The reason that the income statement was chosen to discover this information is because this type of financial statement allows accountants to see the increases for a longer period rather than just a fiscal year.
Annual Report for eBay Inc. Year Ending 2011 Shaun Evan Wright ACC 100: Accounting Professor Howard Katz Strayer University March 2013 Introduction With any company, you have an annual report. An annual report is a document that identifies and communicates to different investors and other people concerned about that company’s financial status. The annual report takes a look at the company’s financial earnings, assets, controls and procedures, quantitative and qualitative disclosures, etc. In this paper, that I am writing, we will explore and gather information from a very reputable and known company known as eBay Inc. I will be using their annual report from 2011, and explain the main sections of the report, discuss key factors that helped influence the company’s financial performance for the year stated above, the company’s assets, and we will also explain how management characterizes the internal control environment.
Put all of this together to simulate the lost revenue due to copier breakdowns over 1 year to answer the question asked in the case study. In a word processing program, write a brief description/explanation of how you implemented each component of the model. Write 1-2 paragraphs for each component of the model (days-to-repair; interval between breakdowns; lost revenue; putting it together). Answer the question posed in the case study. How confident are you that this answer is a good one?
Difficulties with work were considered separately from financial problems (eight items) which included losses in income or debt problems during the past year. It was particularly important to consider these two areas of change individually as many of the respondents were self-employed and experienced financial problems unrelated to loss of employment. These two categories of events include those items indicative of income loss in the Kessler and McLeod (1984) study. For completeness and consistency with earlier studies (e.g., Kessler and McLeod 1984; Thoits 1987), we also determined whether the respondent had experienced a serious illness or injury during the past
(b) Indicate the three ways that Allan attempted to conceal the theft and the dollar amount involved in each method. (c) What principles of internal control were violated in this case? SOLUTION: (a) FETTER COMPANY Bank Reconciliation October 31, 2012 Balance per bank statement $18,380.00 Plus: Undeposited receipts 3,795.51 22,175.51 Less: Outstanding checks |No. | |Amount | |No. | |Amount | | | | | | | | | | |
The Allowance for Bad Debts was adjusted to equal 3% of the balance in Accounts Receivable at the end of the yea Questions: 1. Analyze the effect of each of these transactions in terms of its effect on Account Receivable, Allowance for Doubtful may be involved, and prepare necessary journal entries. 2. Give the correct totals for Accounts Receivable and the Allowance for Doubtful Accounts as of December 31, 2006, had been recorded. 3.
have both parties performed their responsibilities and obligations accordingly before the case was first brought to the court? The considerations: The Buyer should handover the unit by 31st, March 2010 The Developer deducts 40% from the paid payment if the buyer withholds the installments. Have both parties performed their responsibilities and obligations accordingly before case was first brought to the court? First party (the Buyer) he performed his responsibilities and he was pay the installment as the contract. Second party (Developer): he performed his responsibilities until that date but there was force majeure happened and extended for up to a further 12 months.
Ratio calculations consists of operating efficiency, financial structure and profitability ratios. Figure 1.1: Key accounting ratios Operating efficiency According to operating efficiency we can talk about cycle of production which normally consists of supply, production, demand and collection phase. Each has its important ratios which are analysed in following lines. Supply phase Trade-creditor days give us information about payment terms of obligations to suppliers. In case of Ryanair it could see that it is usually more than 21 days from 2008 to 2010 which is approximately 3 weeks.