10k Analysis: East Japan Railway

The following table illustrates the effect on reported net income of $24,611 in 1994 would be affected by an allowance for loan losses:

The main parts of Common Rail Direct Injection system are Injector, fuel supply pump, fuel filter, distribution pipe (Rail), high pressure pumps, solenoid valve, Piezo-Inline Injector, electronic control unit(ECU) and sensors.

(a) Why did CSX make a two-tiered offer? What effect does this structure have on the transaction?

Inventions like the iPhone have paved the road for social, economical, and political improvements. It allowed many opportunities for people to capitalize on whether it be economically like amazon, or socially like youtube as did the railroad that connected the states together. The transcontinental railroad most impacted America economically through encouraging imports and exports amongst the states, making transportation cheaper, and opening up cities along the railroad itself.

In 1973 the Financial Accounting Standards Board (FASB) was established to set the financial accounting standards in the United States of America for nongovernmental entities. These standards are collectively called U.S. Generally accepted Accounting Principles, or U.S. GAAP. The Securities and Exchange Commission (SEC) and the American Institute of Certified Public Accountants acknowledge the authority of these standards (FASB, n.d). A “proven, independent due process” is used to collect the viewpoints of the financial statements prepares and users for the constant improvement of these standards. An Accounting Status Update(ASU) is not an authoritative source however documents the amendments to communicate the changes in the FASB Codification for a user to understand the reason and future of those changes (FASB, n.d).

The Transcontinental Railroad eliminated the need for a dangerous journey for anyone who wanted to travel from America’s East to West. Before its development, travelers would have to embark on a six month journey through the heart of America, passing through dangerous areas like mountains, rivers, and deserts. Another way to reach the other coast was to sail, but that posed a risk of exposure to diseases. For example, a traveler could contract Yellow Fever if he or she sailed around Cape Horn. Despite these dangers, people wanted to go to the West because gold was during the California Gold Rush of 1849 leading many people wanting to mine gold for

The Transcontinental Railroad, first known as the Pacific Railroad was an almost a 2000-mile railroad line. It was constructed over a span of six years between 1863 and 1869. It connected the eastern U.S. rail network in Iowa with the Pacific coast at San Francisco Bay.

The transcontinental railroad had a massive impact on settlers and Native Americans. Today, a modern piece of technology that affects society both positively and negatively are smartphones. When the Transcontinental railroad was built, it impacted settlers in a positive way. There was now a much safer, quicker, and less expensive way to travel down to the west. There were no longers worries about wagons tipping and the chance of dying on the middle of the trip was greatly reduced. I can relate this to present day smartphones because this technology helps people stay in touch better and makes information quick and easy to access. Students can check their grades on their phones, do research, and even write papers. This new technology is advanced

A. Donald Man and William Mackenzie bought up land in the West, and by 1901, they had enough land to qualify for federal assistance in building a railway. The Canadian Northern Railway was born as a rival to the Canadian Pacific Railway.

FASB (1981).Statement of Financial Accounting Standards No. 51. Retrieved on November 7, 2011 from: http://www.fasb.org/pdf/fas51.pdf

The objective of AASB 116 is to stipulate the accounting treatment for property, plant and equipment, make user can understand information about an entity’s investment in its property, plant and equipment, and the changes in entity’s investment. The main issue for property, plant and equipment in accounting are the recognition of relationship between assets, the determination of their carrying amounts, the depreciation charges and impairment losses. AASB 116 required the entity disclose it’s information of gross carrying amount, depreciation method, depreciation rate, useful lives of PPE, accumulated depreciation and reconciliation of carrying amount at beginning of the reporting period and at end of the reporting period.

Main focus of IASB for introducing new standard for business combinations was that financial statements of companies became more realistic and to represent real economic position and value of a company. Therefore restriction to acquisition method as the only option for business combination is the advantage of new standard since using this method, companies do not have a choice whether to recognize goodwill arising from business combinations. Amortization was changed with impairment because amortization of goodwill can lead to arbitrary accounting according to IASB (Shinhan Financial Group n.d., p. 4). Problem arising is that impairment test and determination of recoverable amount require an active market with homogenies assets and available prices which is hard to determine as far as intangibles are concerned. Consequently, this leads to more subjective decisions regarding measurement and leaves a lot of space for management impact on goodwill. Therefore aim of IASB for transparency and full fair value model is not realized.

The main weakness in the current accounting standards was the delayed recognition of credit losses on loans. The existing model called the incurred model lead to delay in recognition of loss

 an analysis of the company’s accounting policies that are likely to affect interpretation of its financial reports (at least 3 policies)

The transportation in Japan has become efficient public transportation system, mostly within metropolitan areas and between the larger cities. The public transportation has characterized by the punctuality the superb service and the more crowds of the people use the train system. Japan has a bullet train which is the high speed train are used in the main island, which connects in Tokyo from Honshu and Kyushu.