Got a tricky question? Receive an answer from students like you! Try us!

Finance and Accounting - Coursework Example

Free
High school
Author : vandervortlucas
Coursework
Finance & Accounting
Pages 4 (1004 words)
Download 0

Summary

1. SFAS No. 141R is a revision of the standard that continues to be a tool which helps in the better use of fair values in monetary reporting. It transforms how trade acquisitions are carried out and accounted for, and it also impacts economic statements from the date of completion of the acquisition. …

Extract of sample
Finance and Accounting

It transforms how trade acquisitions are carried out and accounted for, and it also impacts economic statements from the date of completion of the acquisition. It further influences the yearly goodwill impairment test connected with acquisitions that closes both before and after the efficient date of this standard. A non controlling interest is the part of equity in a supplementary not attributable, indirectly or directly, to a parent company. The main objective of this statement is to recover the relevance, transparency, and comparability of the monetary information that a reporting unit gives in its consolidated financial statements by determining reporting and accounting standards. 2. In a partial acquisition, where a firm acquires a managing interest during a series of dealings, the acquirer will normally record every asset, containing 100% of goodwill and every liability at fair value on the date the control is taken over. This makes use of single-step acquisitions of a managing interest, in addition to transactions, where acquiring control requires various steps over time. 3. Fair value is the predictable value of every liability and asset of an acquired company, which needs to be determined. ...
Download paper

Related Essays

The qualitative characteristics of financial report preparation
This essay discusses that qualitative characteristics influence the financial information’s effect. The users of the financial information rely on the qualitative characteristics of the financial statements for their decision making activities. The creditors use the financial statements as one of the tools for deciding whether to grant loans or credit terms to the credit applicant. Financial statement indicating the company generated a profit trend for the past two years will persuade the creditors to grant the loans or credit applications. The net profit portion of the financial statements…
7 pages (1757 words)
Finance and Accounting
SwissChoc SA (owned by a family friend) is prepared to give him exclusive rights to sell their products in the USA for a ten year period in return for an upfront payment. “The distributor is an independent selling agent who has a contract to sell the products of a manufacturer. The distributor cannot represent him- or herself as the producer but may display the producer's trade name in signage and in the sales situation” (US Legal, 2012). Since the information provided is not adequate, we have to make certain reasonable assumptions while working out the statements required in this respect.…
16 pages (4016 words)
Finance and accounting
As a result, auditors in this case are required to review the accounting information in order to determine how well the business is doing. It requires proper financial statements which provide a clear insight on the economic health of these accounting companies. Generally, it gives an insight on the company’s soundness in the short and long term. As a result, financial analysts, investors and also the members of the public are in a position to try and gauge a company’s competitiveness in the market place. KPMG in accounting business is trying to strengthen its legal function in trying to…
3 pages (753 words)
Finance and Accounting
Managers of public sectors and their agencies are the politicians. Politicians are elected by the citizens to act on their capacity and serve their interests when in office. After being granted this mandate, the citizens bequeath their duty of keeping the politicians accountable. Worse still, the leadership portrayed by the politicians is always authoritative, as they do not give the opportunity for the public to look and assess the performance of public entities. This thus makes it impossible to uncover, dwindling financial positions in the public as opposed to the private companies where the…
3 pages (753 words)
Finance and Accounting
By June 2008, Vodafone received was awarded telecom operating license within the country, making the company as the second mobile phone service provider within the country. Vodafone started its services within Qatar on 1st March 2009. …
5 pages (1255 words)
Finance and Accounting Concepts
It consists of financial activities which include collecting, recording, analyzing and communicating the financial information to others. The financial data is a collection of facts which is expressed in numerical symbols and characters. The major task of the accountant is to records the financial transactions and converts data into financial information. The study will deal with the various accounting concepts that have helped the accountants in dissemination of financial information. Accurate financial presentation helps in the systematic recording of the financial transactions and also…
8 pages (2008 words)
Finance and Accounting Essay
The funny bit about such adjustments is that they can be based on the annual expenses of operating leases (Arms 2010). On the other hand, they can as well be based on the undiscounted available future operating lease payments. These are normally available on the notes to the financial statements. Such is the information that is normally available to many users of the statements and the entire statement. The information is considered insufficient hence a recommendation that the adjustments be made repeatedly and even severally while measuring the same amount. This results into uniformity and…
4 pages (1004 words)