Q1. Based on US GAAP (section 605), is it appropriate for CoAx to recognize revenue
associated with Transaction 1 before the date on which CableCo takes delivery of the
1,000 feet of 18 AWG coaxial cable?
A1. Yes, based on US GAAP (Section 605), it
Inventories can be defined as an asset which are held for sale in the ordinary course of
business, are in the process of production for such sale, in the form of materials or
supplies to be consumed in production process or in rendering serv
Q9. Whether change in volume of use of Repo 105 should have impacted E&Ys audit
procedures and assessment of audit risk? Why?
A9. Yes, the dramatic increase in use of Repo 105 should have impacted E&Ys audit procedures
and assessment of audit risk. Becaus
Brilliant Construction Limited is a construction company found by Jack Wilson in 1996.
He is also the CEO of the company and a member of Board of Directors. In this
assignment, we will discuss the learnings from the case study assignment in
Question: Whether interest cost on construction of a new warehouse can be included
in the cost of the new warehouse?
Answer: When an enterprise borrows funds specifically for the purpose of obtaining a
particular qualifying asset, the borrowing costs that
SEC v. Zurich Financial Services
Zurich is a financial corporation organized under the laws of Switzerland, Zurich,
Switzerland being its principal place of business. On December 11, 2008, SEC reached
an agreement with Zurich Financial
1. What did you agree with?
I agree with the following after reading the article
a. Planning the audit engagement is very important and it is crucial to its success.
b. Collecting sufficient audit evidence is very important as based o
Enron was Americas seventh largest corporation. Enron was a Company that rose to dramatic
heights only to face a tremendous collapse. One day Enron was Americas most innovative
Company and it shocked the world by the bigges
Instructions: THIS MID EXAMS IS TAKE HOME
Working in teams is not permitted. If you have any questions, please ask.
This exam has 5sections (CLICK ON THE RESPECTIVE TAB for each section)
A budget process is nothing but how a Company prepares its budgets. A good budgeting process
engages all those who are responsible in adhering the budgets like managers, operators, workers
etc. In the current scenario, the Company has a very goo
Carrying amount of the Company as per books
Recoverable amount of the Company
Impairment loss to be accounted for
Impairment loss of land:
Carrying amount of the Land as per books
Fair value less cost of d
Question: Discuss why calculating break-even is important for any company that
provides a service similar to the airlines.
Introduction: Breakeven point is nothing but a stage of business where the businesss
total revenue is equal to total expense
1000-word short essay about the nature of Impairment loss and required disclosures
including referencing. (1000 words)
Impairment loss is nothing but the excess amount carried in books over and above the
Opening cash balance
Cash receipt from sales in Feb
Cash receipt from sales in Mar
Cash receipt from sales in Apr
Cash receipt from sales in May
Cash receipt from sales in June
Name of Company Being Acquired
Name of Acquiring Company
Date of Acquisition
Mini case #3
To: Ron Talbot, Plant Manager, Best Interiors
From: Student Name
Date: Oct 11, 2016
Re: Recommendation for whether the plant should be closed or continue production
This report has been prepared in response
2. Financial analysis - Whether or not to close the Brandtford cover plant
Do not close
cover plant ($)
Close the cover
of purchasing seats from
Q1. Whether Fishy Company can recognize the river as an asset?
A1. As per para 49(a), an asset is a resource controlled by the entity as a result of past
events and from which future economic benefits are expected to flow to the entity.
Further, as per pa