publications and tools PricewaterhouseCoopers has a range of tools and publications to help companies apply IFRS (see also the inside back cover). Illustrat ive Consolidated Fin ancial Statements • Corporate, 2007 • Banking, 2006 • Insurance, 2006 • Investment funds, 2006 • Investment property, 2006 Realistic sets of financial statements – for existing IFRS preparers in the above sectors – illustrating the required disclosure and presentation. Measurement checklist 200 6 Outlines the measurement
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Questions – Financial Following are multiple choice questions and simulations recently released by the AICPA. These questions were released by the AICPA with letter answers only. Our editorial board has provided the accompanying explanation. Please note that the AICPA generally releases questions that it does NOT intend to use again. These questions and content may or may not be representative of questions you may see on any upcoming exams. 1 2011 AICPA Newly Released Questions – Financial 1
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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K (Mark One) x|ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934| For the fiscal year ended January 29, 2011 or ¨|TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934| For the transition period from to Commission file number 001-15274 J. C. PENNEY COMPANY, INC
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Professor Brian Friedel November 30, 2009 Comprehensive Problem The basic financial statements – balance sheet, income statement, and cash flow statement – all provide managers will valuable information. But there are a number of other types of analysis that can give the financial manager insights so he can better manager the business and improve the organization’s profitability. This paper will present a 7 step program with
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The Consolidated Statements of Earnings or the income statement tells financial statement users that there was a decrease in gross profit and net sales for the fiscal year 2008. The Consolidated Statements of Earnings show that the closing of underperforming stores, removal of new store openings from the pipeline, and staff reductions in many Home Depot projects resulted in $951 million in pretax charges. The difference profit and net sales is also a cause of fiscal year 2008 being 52 weeks and
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US GAAP versus IFRS The basics November 2013 Table of contents Introduction..................................................................... 2 Financial statement presentation ..................................... 3 Interim financial reporting................................................ 6 Consolidation, joint venture accounting and equity method investees/associates ........................................... 7 Business combinations...........................................
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Enron Case Part1: Profitability: According to Enron’s 1998~2000 Financial report, Enron was reported increasing revenues and earnings-per-share (Table 1). However, they have been reporting a decrease in gross profit margins and net profit margins (Table 2). Although the revenue was increasing from 1998 to 2000, the cost of doing business in Enron was also increasing over time. For example, in 2000, the company had usual cost increasing in gas, electricity metals and other products
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Executive Summary The report will discuss financial reporting, tax and risk management issues associated with acquisition of Sunny Sky. The issues are raised mainly due to consolidated financial statement preparation, inter-company transactions, and asset valuation after acquisition. According to CGA Code of Ethical Principles and Rules of Conduct (CEPROC) R304, we have to let you know that international tax issues are out of out scope. If ABC wants consulting service for such issues, we can
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appropriate reporting method used in the following analysis will be IFRS. Users/Stakeholders: There a many potential users of the financial statements prepared by WAL and they are: -Leo Titan – CEO, WAL - owners of, NSL - owners of, -Minority shareholders invested in WAL And NSL, Fabio and Fox accountants - they are audit partners, External users of the financial statements (such as potential investors), the government (many accounting issues that could violate standards). Analysis: First of
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International Financial Reporting Standards (IFRS) in Indian context Introduction Convergence with IFRS has gained momentum in recent years all over the World. 110+ countries including European Union, Australia, China, New Zealand, and Russia currently require or permit the use of IFRS. Apart from India, countries like Japan, Sri Lanka, Canada and Korea have also committed to adopt IFRS from 2011. United States of America has announced its intention to adopt IFRS from 2014 and it also permits
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