Harm principle

After reviewing the balance sheet and the further information I was able to gather, I have come to a conclusion of what the purchase prices of Snow Mountain and Ski Town are, $357 920 and $373 173.32, respectively. Through adding the owner’s equity and goodwill for each company I was able to arrive at this amounts. I have further broken down the process I went through to make both ski merchandising company fairly comparable. Additionally, I have attached the balance sheets for Snow Mountain and…

Since King and Company faced a materiality question while forming its 2011 audit opinion for Lakeside Company. The best way for the auditor should evaluate the materiality of the $186,000 investment loss in their financial statements is by having the CPA firm of King and Company setting a preliminary judgment of materiality; to combined the amount of misstatement in the financial statements that would be considered material. As described in the case, King and Company were very aware that…

1. The information presented in this case study of the city’s financial statement in the MD&A appear to meet GASB standards. • The Government-wide Financial Statement presented meets the requirement of listing both the statement of net position and statement of net activities. • The MD&A represents the use of the economic resource measurement focus as well as the accrual basis of accounting. • The two types of activities, governmental and business are reported in separate columns as they should…

Introduction The following research paper is about the new joint revenue recognition principles that were unveiled by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB), which standardizes generally accepted accounting principles (GAAP) and international financial reporting standards (IFRS) on recognition of revenue in the United States. The new joint revenue recognition principle was created to increase the financial transparency and the…

TUI UNIVERSITY Mathew Shannon SLP 1 Case Assignment ACC 403 –Principles of Accounting Dr. Craig Mayberry December 2015 Session International Financial Management The Smith Company earned the net profit of $349,150, resulting into the net profit margin of $86,850 /$436,000 = 19.91 %. Net Profit margin position clear out how much net profit is earned by the company with the given amount of sales which is the present case is 19.91%. Current Ratio is the ratio between current assets and…

After using the fraud triangle and information gathered I have identified the following incentives and pressures, opportunities, and attitudes for Pinnacle to engage in fraudulent financial reporting. The incentive is that Pinnacle’s board is trying to sell the Machine-Tec division and so the President is determined to make it as profitable as possible. The pressure they are facing is that Pinnacle is in the complex situation where they can violate its debt agreements. With their opportunities…

This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Solutions Manual Using a spreadsheet, financial calculator, or trial and error to find the root of the equation, we find that: IRRNX-20 = 20.34% The IRR criteria implies accepting the NX-20. c. The profitability index is the present value of…

When preparing the cash flow analysis of a medical network, revenue, expenses, and profits must be considered. Revenue is generated by treating patients and rendering services such as an MRI. Costs are created by expenses in the network that include salaries for employees, purchase of medications and supplies, and payment of obligations incurred. Revenue does not necessarily mean that an enterprise is gaining profits and disregard for this detail may result in the network inadvertently,…

In the year 2016, the board published two copies of the reviewed International Auditing Standards that considered the integration of the United States auditing standards. The board also completed its project on integrating the United States auditing process and the International auditing Standards and announced the availability of the revised edition handbooks (Jaruga, Fijalkowska, Jaruga-Baranowska & Frendzel 2007, p. 70) The Implication of the International Standards on the U.S Companies The…

Introduction – Financial Plan This paper will develop a financial plan for Universal Health Services (UHS). First, it will suggest the financial ratio that most financial analysts would use to evaluate the financial condition of the company. Next, this paper will speculate on UHS’ ability to meet its financial obligations as they come due. Furthermore, it will determine whether the profitability trends are favorable or unfavorable accompanied with an explanation. Finally, this paper will…