RESEARCH ISSUE The research has been made on an accounting issue using Accounting Standards Codification (ASC). Thousands of pronouncements of US GAAP have been recognized by the Codification into several accounting topics and has displayed those topics in a consistent structural manner…
The rationale behind treating this division as discontinued operation and held for sale has been discussed here and reporting of the position of financial statement for such division has been explained. A component of an entity can be considered discontinued operation if it does not have any involvement with the operation of the component after the disposal transaction. The sale of such asset or disposal group is probable or likely to occur and the transfer of such asset is expected to qualify for recognition as a complete sale within one year. Again the sale has been actively marketed at a reasonable price in relation to its current fair value. The period in which such transaction has occurred, the income statement of a business entity or statement of activities for not-for-profit entity (NFP) for current and prior periods should report the result of operation of component along with the gain or loss recognized in discontinued operations. The result of operation of a component of an entity either been disposed of or classified as held for sale will be reported in discontinued operations on the fulfilment of following conditions: On occurrence of the disposal transaction, the operation and cash flow of the component is required to be eliminated from the continuing operations of entity. Further, the entity is not required to have continuing involvement with the operation of the component after such disposal transaction. In a period in which the component of entity which has been disposed of or classified as held for sale, the income statement of the business entity or statement of activities of not-for-profit (NFP) entity should have the result of operation of component and gain or loss incurred in discontinued operations. The result for discontinued operation less income taxes applicable should be reported as a separate component of income before extraordinary items. Any adjustment to any amounts that has been previously reported under discontinued operations and is directly related to the disposal transaction in prior period is required to be separately classified under discontinued operations in current period. Such type of adjustments may arise in circumstances like resolution of adjustment of purchase price, retaining of product warranty and environmental obligations by seller, settlement of obligations of employee benefit plan provided the settlement should be related directly to the disposal transaction if there is a demonstrated relationship of direct cause and effect and the disposal should occur within one year following the disposal transaction unless delayed by circumstances beyond the control of entity. The business memorandum entailing the underlying principle for mining division of ABC Company which is to be sold off has been enclosed. BUSINESS MEMORANDUM ABC COMPANY MEMORANDUM TO: MATT ROGERS, CFO FROM: STAFF ACCOUNTANT DATE: 6/3/2013 SUBJECT: REPORTING OF MINING DIVISION INTRODUCTION It is known that ABC Company having six major divisions has recently decided to sell off its mining division. The company is actively seeking a buyer and has priced the division at fair value of the division’s assets and liabilities and it expects that the division will be sold during the next fiscal year. However, the division has been considered an operating segment; this memorandum entails the details of reporting the mining division in financial statement. BODY Research has been made on this issue from Accounting ...
Cite this document
(“ASC Research F Essay Example | Topics and Well Written Essays - 1000 words”, n.d.)
Retrieved from https://studentshare.net/finance-accounting/85700-asc-research-f
(ASC Research F Essay Example | Topics and Well Written Essays - 1000 Words)
“ASC Research F Essay Example | Topics and Well Written Essays - 1000 Words”, n.d. https://studentshare.net/finance-accounting/85700-asc-research-f.
There is a sense of eeriness though that envelopes 2 of the most prominent Kennedy’s in the US government. This is the fact that both John Fitzgerald and Robert Francis were assassinated. Both men died too soon before they can bring any further achievements not for themselves but for the nation.
Most often, people simply let the word slip off their lips without even understanding its meaning but rather it was made popular by entertainers who openly use the word in interviews and performances. Therefore, the word has become interesting as a subject matter to discuss and discover its origins and meanings.
William F. Baker Name Professor Institution Course Date Introduction 1. Background information / context William F. Baker is a renowned structural engineer whose expertise to date continues to amaze numerous people worldwide (Wallace, 2011). At a tender age, Baker’s mother encouraged him to pursue engineering as a career (Wallace, 2011).
John F. Kennedy, the Film On the 22nd of November, the U.S. president, John F. Kennedy was assassinated, an event that shook the United States of America and the world over. This single occurrence triggered a series of events, mainly to do with investigation into the famous mystery of ‘Who killed John F.
Therefore, entrepreneurs have the ability to make According to Burns (2013:12) some of the characteristics and attributes with regard to my characteristics as an entrepreneurial person in accordance with my experience of working in teams included: proactive and decisiveness, ability to take risks, capability to live with uncertainty, internal locus of control, self-confident, innovative, self-motivated, intuitive, positive attitude, strength of character, integrity, ability to engender trust, visionary, self-confident, dedicated, and proactive.
presence of such attribute was further observed in one-on-one level of erudite interaction with the president whose articulate skills in communication bore for him peculiar charm that managed to attract and earn the trust of the nation.
With this much substantial trait, JFK
He developed statistical control techniques that defined the need for managers to involve themselves in the production process. His ideas have grown beyond nations, and he remains vital for the role he played on shaping quality of services (Schulmeyer,
Prescott, AZ 86301 parking lot F. Upon receiving the call, the unit rushed to the location of the crime scene.
The officers did not take long before reaching the scene, as they arrived at approximately 13:38 (exhibit B-1). Among the first officers to arrive at
1 Pages(250 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic ASC Research F for FREE!