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    Jefferson Animal Rescue is a private not-for-profit clinic and shelter for abandoned domesticated animals, chiefly dogs and cats. At the end of 2011, the organization had the following account balances: [pic] .:. The following took place during 2012: 1. Additional supplies were purchased on account in the amount of $15,000. 2. Unconditional (and unrestricted) pledges of support were received totaling $95,000. In light of a declining economy, 5 percent is expected to be uncollectible. The remainder

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    Assets Under or Pending Contract When reviewing the population of 11 assets in “under or pending contract” status as of July 31, 2017, 5 of 11 had a variance (sales price compared to the initial list price) outside of what RMS believes is an acceptable range. • 2 assets were under or pending contract for more than 15% below the initial list price. The sales price for the 2 under or pending contract assets ranged from 76.2% to 81.8% of the original list price. Both are under contract as a traditional

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    In order to meet its liquidity needs to survive a significantly severe liquidity stress scenario lasting for a month, Liquidity Coverage Ratio (LCR)’s requirement aims to ensure that banking institutions have sufficient High-Quality Liquid Assets (HQLA) that can be readily converted into cash (Lange, Saunders & Cornett, 2015). The LCR is a ratio and firms would be required to keep HQLA equal to at least 100 percent of total net cash outflows over the next 30 calendar days. The LCR has been implemented

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    historical cost, current cost, present value and fair value is called a mixed measurement approach (Rankin, M., Stanton, P., McGowan, S., Ferlauto, K & Tilling, M., 2012). There is a number of advantages by using the mixed measurement approach to measure assets and liabilities. For example, a mixed measurement approach provides investors with better information for evaluating Woolworths. Refer to a survey conducted by PricewaterhouseCoopers, most of the investors favor the accounting information using mixed

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    This memo is to assess the establishment of valuation allowance for Deferred Tax Assets. I also explain the current sources of deferred tax for Packer, Inc. Applying GAAP, I will advise not using a valuation allowance of 60% of deferred tax assets. I. Sources of deferred taxes Deferred tax liabilities A deferred tax liability is recognized for temporary differences that will result in taxable amounts in future years. In Packer, Inc’s case, depreciation has been recognized as deferred tax liabilities

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    meant be the term “intangible asset?” Intangible assets are defined as identifiable non-monetary assets that cannot not be seen, touched or physically measured, which are created through time and/or effort and that are identifiable as a separate asset. Corporate intellectual property (items such as patents, trademarks, copyrights, business methodologies), goodwill and brand recognition are all common intangible assets in today’s marketplace. Intangible assets have 3 critical attributes which

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    Intangible Assets as a Source of Competitive Advantage Look No Further Managing Intangibles seems to be a smart idea. But to bet on it, one has to create a whole new organization. The concept of intangibles is not new, but across the globe, companies are slowly coming to grips with it. tury back physical, tangible assets created wealth; today, it’s intangible assets that are creating wealth. It’s a concept that packs a lot of punch but has no form as such. It questions capitalism for its emphasis

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    The elapsed time before an asset becomes cash or a liability is settled is called liquidity (Spiceland, 115). A liquid company is one which can quickly generate cash from its assets and pay its short-term liabilities on time (Spiceland, 365) (Libby, 453). Current assets are positioned in order of decreasing liquidity on the balance sheet, and liabilities are listed in order of how quickly these debts are expected to be settled (Spiceland, 117) (Libby, 45). Cash and cash equivalents have the

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    Does Fair Value Accounting for Non-Financial Assets Pass the Market Test? Hans B. Christensen and Valeri V. Nikolaev The University of Chicago Booth School of Business 5807 South Woodlawn Avenue Chicago, IL 60637 Abstract: The choice between fair value and historical cost accounting is the subject of longstanding controversy among accounting academics and regulators. Nevertheless, the market based evidence on this subject is very limited. We study the choice of fair value versus historical

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    Theory on Control of Assets Essay

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    Part 1: Theory on control of assets 1) Internal controls are methods that a company puts in place to ensure the integrity of financial reports and accounting information, and that they meet operational and profitability targets. They are implemented to assure the safe-guarding of assets as well as to detect fraud and any other errors. As such, they provide the company with reasonable assurance that specific objectives will be achieved. 2) The overall purpose of internal controls is to help

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