REO Case Study

“A long-lived asset (asset group) shall be tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable.”

Indigenous Australians have been fighting for their civil rights since European colonisation in 1788, in particular, for their rights to land ownership. Prior to the Mabo land rights case, there was very little success when it came to indigenous Australians making claims. The Mabo case took land rights to the highest court in Australia. It succeeded in achieving land rights and overturning Terra Nullius. The Mabo case helped to continue to chip away at the barriers of civil rights. The Mabo Case was a step towards Indigenous equality.

not recoverable and exceeds its fair value. The carrying amount of a long-lived asset (asset group) is not

In 26 March 2009, the chairman of Harvey Norman Gerald Harvey had made an announcement, that during the economy downturn, company is not revaluating its billions property portfolio. As other listed property company had been revaluated and receive a massive wrote down. With this action that come from Harvey norman, i highly doubt the trustworthy on number that shown in property plant & equipment. Quote from AASB116 para 38’states that a class of assets may be revalued on a rolling basis provided that the revaluation of the class of assets is completed within a short period of time and provided the revaluations are kept up to date’ under an assumption that within the economy turndown, PP&Es have been wrote down for certain percent, however the firm itself didn’t provide the true current value in the report, i would

According to Section 360-10-15-4, the scope of the standard applies to transactions and activities related to recognized long-lived assets of an entity to be held and used, including capital leases of lessees, long-lived assets of lessors subject to operating leases, proved oil and gas properties that are being accounted for using the successful-efforts method of accounting, and long-term prepaid assets.

The 30% of the respodendant getting the support from perants and friends,1.7% of the respodendant getting the support from clinical psychologist,8.3% of the respodendant getting the support from their coach and 1.7% of the respodendant getting the support from other sources.

T.L.O. was a high school student at Piscataway in Middlesex County. She was caught smoking in the lavatory by a teacher, and was taken to the Assistant Vice Principal Theodore Choplick who searched her purse after he suspected cigarettes. Mr. Choplick discovered cigarettes, small amount of marijuana, and a list that contained students’ names who are owning her money. T.L.O was charged with possession of marijuana. Before the trial, T.L.O. moved to suppress the evidence found during the search, but the court denied her motion. The juvenile and domestic relations court of New Jersey found her guilty and sentenced her to one-year probation. On appeal, the Superior court of New Jersey, Appellate Division affirmed the denial of motion to suppress

Within the first three months of the project, the company reduced the number of accounts receivable days for the nine hospitals in the region from 65 to 59. Each one of the A/R days equals $13 million, which in turn means that Sutter Health collected an additional $78 million (Souza& McCarty, 2007).

The number of days receivables equals 47 which represents the number of days in receivables. The older an account receivable remains the more difficult it will be to collect.

Paul Keating wanted a national approach to issuing native title for the “greater guarantee of justice ad equity” this was because he believed that the states could not be trusted I this matter. It was proposed that the commonwealth run a system that dictates the allocation of Native title in Australia.

The subsequent valuations are consistent with the Statement of Financial Accounting Standards no. 157, defined as “the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.”

The Manufacturer’s Suggested Retail Price (MSRP), list price or recommended retail price (RPP) of a product is the cost at which the manufacture proposes that the retailer offer the product. Although the goal is to aid to institutionalize costs, it is not often the value the retailer use or the value the customers are willing to pay. The retailer has the freedom to sell the products at a price lower than the MSRP to move the product faster or they can set it higher than the MRSP to bring in more profits if the item is selling faster than initially foreseen.

The fair value of an asset is defined as ‘the price that would be received to sell an asset paid to transfer a liability in an orderly transaction between market participants at the measurement date” (Kieso, Weygandt, & Warfield, 2012). It is a market based measure (Averkamp, 2014). Over the past few years, Generally Accepted Accounting Principles has called for the use of fair value measurement in a company’s financial statements. This is what is referred to as the fair value principle (Kieso, Weygandt, & Warfield, 2012). The fair value of an asset or liability is based on an estimate of what the asset should be worth at the time of sale. This gives rise to some conflict among accounting professionals. It is believed that fair value may not be as accurate

able to conduct business. We may be facing another three weeks to three months of delay

d. a price that includes both the cost of the product plus transportation to the buyer