annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report; 3. Based on my knowledge, the financial statements, and other financial information included in this annual report, fairly present in all material respects the financial condition, results of operations and cash
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1.Define the term: Restating Financial Reports” It is well known that over the past decade the amount of errors being discovered within the financial statements of publicly held companies has risen. One such error was announced by the internet sales company Overstock.com in early 2009. Due to an accounting error, partners of the company were under billed by $1.8 million dollars over the course of 2008. Overstock chose to record this entry incorrectly which falsely ballooned the company’s revenues;
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Trueblood case 11-3: Masters of the Universe 1. Statement of the problem: Applying key concepts of the VIE model in ASC 810-10 (Statement 167), in order to perform a consolidation analysis for a Variable Interest Entity (VIE). 2. Summary of relevant (key) facts As the case depicts, ‘Jupiter’ is a joint venture formed by 2 unrelated parties, Saturn Inc. and Venus Inc. Jupiter has been created with the purpose of owning and operating organic clothing manufacturing and design facilities and
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Directors ’ Report Financial Highlights Statement of Compliance with the Code of Corporate Governance Review Report to the Members on Statement of Compliance with Best Practices of Code of Corporate Governance Nis hat (Chunian) Limited - Financial Statements Auditors’ Report Balance Sheet Profit and Loss Account Statement of Comprehensive Income Cash Flow Statement Statement of Changes in Equity Notes to the Financial Statements Pattern of Shareholding Cons olidated Financial Statements Directors’ Report
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The SEC filed fraud charges against WorldCom the next day. WorldCom shares fell to less than to $1. In July 2002, WorldCom filed for Chapter 11 bankruptcy protection, the largest bankruptcy in U.S. history. Subsequently, former WorldCom chief financial officer Scott Sullivan and controller David Myers were arrested on securities fraud and conspiracy charges. Ebbers was indicted on federal charges in the accounting scandal. In March 2005, Ebbers was found guilty on all charges and was sentenced
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Deloitte Trueblood cases (www.deloitte.com/more/DTF/cases_subj.htm), as well as the AICPA cases (www.aicpa.org). Topical Index of Student Cases INTERMEDIATE ACCOUNTING Case 1: Reporting acquisition and repayment transactions in the Statement of Cash Flows Case 2: Recording a forfeited payment Case 3: Revenue and expense recognition associated extended warranties Case 4: Accounting for “due on demand” note payable Case 5: Purchase of a controlling interest with a greenmail
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Wal-Mart Business Analysis Part 2 This paper compares Wal-Mart’s financial health to its competitors such as Target and K-Mart, which are also designed in retail multi-shopping department stores. Further review will detail how Wal-Mart’s rates in comparison of profitability through its income statement, balance sheet, and cash flow in relationship to Target and K-Mart. Upon examination, this information will illustrate the future perspective success of Wal-Mart and determine areas of improvement
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communicate to stockholders and other interested parties its financial statements. The annual report is a summary of the corporation’s operations over the previous 12 month time period and states the corporation’s plans for the future. Many annual reports are created to resemble a corporate brochure, using lots of pictures, color, charts and graphs. Despite the fancy look, the main purpose of the report is to provide the year’s financial data, which comes from the corporation’s accounting system.
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Department of Accounting and Corporate Governance, Faculty of Business and Economics, Macquarie University, Sydney, NSW 2109, Australia a r t i c l e i n f o Keywords: Convergence German Commercial Code (Handelsgesetzbuch) International Financial Reporting Standards Act to Modernize Accounting Law (Bilanzrechtsmodernisierungsgesetz) Classification of accounting systems a b s t r a c t Classification techniques based on one or few dimensions are widely used in research studies and textbooks
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Good Morning and welcome to Eaton’s monthly Investor Information Session For the next 20 minutes, we will provide you with an overview of Eaton’s current financial and operational position. As potential investors, you will be able to use this information to assist in your investing decisions. Did all of you receive your 2009 Eaton Annual Report? I will have to follow up with our assistant Diane. She seems to drop the ball from time to time. Regardless, each of you will be receiving the 2010
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