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Unformatted text preview: 2011 Financial 7 Update Financial 7 Update for the 2011 Edition Last Updated April 4, 2011 SECTION A: TEXT AND LECTURE ERRATA Item A.1 Pg. F7-17, EXAMPLE – Distribution of Dividends to Participating Preferred Shareholders The date of the stock issuance in this example should be changed as follows (change highlighted): On January 1, Year 2 1, Samual Co. issued 100,000 shares of $5 par common stock and 25,000 shares of $10 par fully participating 8% cumulative preferred stock. Item A.2 Pg. F7-37, Item C.2. Rules for Stock Issued in a Business Combination The wording of this item should be changed as follows to be consistent with current GAAP/IFRS terminology (changes highlighted): If the purchase acquisition method is used, the weighted-average is measured from the date of the combination. (Business combinations are covered in detail in lecture F3). Item A.3 Pg. F7-45, Graphic at the bottom of the page There has been some confusion regarding the meaning of the graphic at the bottom of this page. The graphic is designed to help you better understand how to classify the components of the balance sheet...
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This note was uploaded on 09/25/2011 for the course ACCOUNTING AC591 taught by Professor W during the Spring '11 term at Keller Graduate School of Management.
- Spring '11