Principles And Concepts Of Accounting: Walt Disney Company

cognizant of the fact that the choices he makes can affect the price a buyer pays

The purpose and goal behind researching the income statements and balance sheets then calculating the ratios is mainly to help creditors and investors make their decisions easier and faster. The way we are presenting our research results helps the investors and creditors make the decision which of the companies is more worthy to invest in or loan money too without taking a risk, and lowering the chances that they will be disappointed by the results of their investment, or in the creditors case they can be almost certain the company they are loaning the money to would be worthy enough of paying the money back without a hassle.

9. Discuss the concept of electing § 179 expense. Does the election allow a larger expense deduction in the year of asset acquisition?

Lockett's contribution was $420,000 in 2015 and benefits paid were $375,000. Lockett estimates that the average remaining service life is 15 years.

Time period : to make a sound economic and financial decision we need time period. A business needs a timely decision in today’s world. The accounting period is the period of time over which

What is the amount of uncollectible accounts expense recognized in VIP's income statement for January?

Over the years Disney, “continues to evolve with each generation,” able to quickly and swiftly adapt to meet the needs of their customers. Disney believes that their, “willingness to challenge the status quo and embrace change is one of our greatest strengths, especially in a media market rapidly transforming with each new technology or consumer trend,” (Disney 2015 Annual Report). An example of this is the recent craze for superhero movies. Once this high-tech trend of movies hit the market, Disney quickly began to produce the Marvel superhero movies to meet the demand. Disney’s product innovation capabilities allow them to constantly be in the lead of each trend that changes within the market.

In the accounting analysis part, we will discuss and analyse SUL’s accounting policy by identifying its key accounting policies, assessing the accounting flexibility, evaluating the accounting strategy, evaluating the quality of disclosure, identifying red flags and undoing accounting distortions to evaluate that if SUL’s financial statement is transparent and not misleading. Also, we will compare these elements to its competitors in order to give investors a clearer vision of its accounting quality.

Part II. The following two questions relate to heritage assets and biological assets (65 marks)

10. When investments are classified as available-for-sale, fair-value changes are recognized in the balance sheet as unrealized gains or losses (AOCI) that affect owners’ equity. Please indicate if the above statement is true or false.

To answer this question, first scale up both of the figures. The units increased by 20% from a base of 3000, so (1.2)(3000) = 3600 units were sold. The price at which they were sold was a 10% increase on a base of $50, so (1.1)(50) = $55. The total gross revenue therefore is (3600)($55) = $198,000. To calculate the net revenue, the 6% returns must be subtracted from the gross figure: (198,000)(.94) = $186,120

1. A major advantage of the partnership form is that the personal assets of the partners are protected from creditors in case of legal action- False

The concepts in the conceptual framework are being created in an orderly manner which makes the financial reporting consistent and logical. There is also increased comparability of standards from company to company or from year to year. The conceptual framework also ensures that there is consistency internally in the accounting standards. In addition the framework also establishes precise definitions that facilitate discussion of accounting issues and it also helps preparers and auditors in resolving financial problems in the absence of an accounting standard. Since a theory of accounting that can be applied on specific problems is provided in the conceptual framework, the volume of accounting standards is

The amount of any reversal of any write-down of inventories, rising from an increase in net realizable value, shall be recognized as a reduction in the amount of inventories recognized as an expense in the period in which the reversal occurs.’’ Also required for IAS2.36 would be the disclosure of;

Integrated reporting seeks to provide insights about the relationship and resources used and affected by an organization. According to (Roberts, Leigh 2014), it’s a