Silic Case

4. The depreciation accounting changes assume that Harnischfeger’s plant and machinery will last longer and will lose their value more slowly.  Given the business conditions Harnischfeger was facing in its primary industries in 1984, are these economic assumptions justified?

The case is about Lake Eola Charter School (LECS) in downtown Orlando, Florida, Ronnie DeNoia is the principal of this school, who completed a course on nonprofit branding at the Philanthropy & Nonproft Leadership Center at the local college. She done this course to shore up her understanding of planning and managing a non profit organisation. She wanted to apply her new learning to evaluate the school’s competitive position, so there is need for environmental analysis, for this full understanding of the school’s internal environment and external competitors is necessary in order to improve the position of the school. And also the case talks about

In order to conclude on the net earnings, a trend was calculated with regards to the return on invested capital (assets). The trend, as computed from the table and graph in annexure 2, shows

If proper and adequate depreciation has not been provided on the fixed assets the result would be more profits in the Profit & Loss Account. This book profit might have been distributed as dividend and leaving no funds with which to replace the assets at the right time.

The one-hectare is subject to capital gains for the first seven years he used it as his main residence. The liability is calculated by apportioning the capital proceeds and the relevant cost base to the adjacent land based on the market valuation of $620,000 at 1997. The apportionment factor is worked out according to the relevant adjacent land as a proportion of

The land in Stratford is being actively traded, rather than being held for income producing

At 30 June 2014, the balance of the revaluation surplus is $400 000, of which $300 000 relates to the factory land and $100 000 to the buildings. On this same date, independent valuations of the land and building are obtained. In relation to the above assets, the assessed fair values at 30 June 2014 are:

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.

From the following list of accounts prepare the ASSET section of the Balance Sheet for Camosun Developers for December 31, 2011. Accounts payable ............................................... $10,000 Accounts receivable ........................................... 260,000 Accumulated Amortization, Building ................... 370,000 Accumulated Amortization, Furniture & Fixtures . 310,000 Allowance for Doubtful Accounts .......................... 70,000 Building .............................................................. 900,000 Cash ................................................................... 200,000 Cost of Goods Sold .............................................. 75,000 Furniture & Fixtures ............................................ 800,000 Interest Expense .................................................... 2,000 Inventory ............................................................ 330,000 Land ................................................................... 740,000 Notes payable (due in 5 years) ............................. 33,000 Prepaid expenses ................................................. 30,000 Sales Returns and Allowances ............................... 1,500 Note Receivable

Since the beginning of development of new technologies, the IT industry had a strong impact on daily basis people use, that were cause by modern information technology.

Over the past several years, there has been a growing controversy over the accounting issues of fair values and historical cost. The basis of this controversy revolves around which one of these principles is the most accurate. There are many different viewpoints on this issue. Many accounting professionals believe that fair value is just as accurate as the historical cost principle, while others believe that the historical cost is more reliable. The facts about each of these valuation methods will be researched and explained throughout this research document, as well as the different viewpoint about which method is the most accurate and reliable.

f';fa;d'a;f',af;ag';sdagl.;gdlal,g;adl,g,gal;am,dblv .cv z,vz mld;,ag,a;es'g.;'gad;a';ldg;gd;sal;,ger'fa,s.a;l,gdlag,dla,g;ewlwetp;lq4pewql,e;et,q;g,al,gal;g,dla;ew,tqleg,algm,eksgtmaq;,;'.E'S.AFD;Af?D/A>;T',;L,EL;On January 1, 2010, Ameen Company purchased a building for $36 million. Ameen uses straight-line depreciation for financial statement reporting and MACRS for income tax reporting. At December 31, 2012, the carrying value of the building was $30 million and its tax basis was $20 million. At December 31, 2013, the carrying value of the building was $28 million and its tax basis was $13 million. There were no other temporary differences and no permanent differences. Pretax accounting income for 2013 was $45 million.On January 1,

1. Assume there are three separate real estate companies US Realty (which uses the cost model), UK Realty (which uses the revaluation model, and International Realty (which uses the fair value model). Assume that on December 31, 2003, each company pays £1,000 cash to obtain investment property comprising of land with negligible value and an office building worth £1,000.  The building has a 10 year useful life, has no residual value, and is expected to provide a constant stream of economic benefits over time.   What is the accounting entry for each company for the following four scenarios:

At the time of preparation of this syllabus, the final exam date is unknown. You will

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