Locard's exchange principle

Walter P. Schuetze, the Chief Accountant to SEC and the Chief Accountant of the SEC’s Division of Enforcement, published an article entitled “What are assets and liabilities? Where is true north? (Accounting that my sister would understand) in 2001. Mr. Schuetze addresses what are assets and liabilities? He asserts that “the FASB’s definition of an asset is so complex, so abstract, so open-ended, so all-inclusive and so vague that we cannot use it to solve problems” (p. 12). In my opinion, that…

RELATED CASES: None. STAT DATA: None. BWC ACTIVATED: N/A. SUPPORT DOCUMENTS: Two Collection Notices, Front/back copy of Counterfeit Checks 2019, 2027, 2028, 2045, 2048, and 2049, Judy Diamnd`s Correspondence, Check Notes, PSO Affadavit of Identity Theft, Photocopy of Judy Diamond`s Florida Driver License. On 07/20/2016, I spoke with Judy Diamond in the District II Lobby of the Pasco Sheriff`s Office in reference to fraudualent use of her personal identification. Ms. Diamond advised…

High temperature proton exchange membrane fuel cells (HT-PEMFCs) are a promising clean technology, especially for automobile applications.1 These devices generate electricity from the chemical reactions that occur in the anode side of the cell, using H2 as a fuel and generating heat and water as by-products.2, 3 However, experimental studies using HT-PEMFCs show that degradation of the cell can occur after certain hours of operation (around 500 hours).4 Some of the factors that contribute to the…

A catalyst layer is usually the slimmest layer in a PEM fuel cell; however this is an extremely complex component because of its porosity, several phases, and reactions (Spiegel 2008). An efficient catalyst layer should provide several functions at the same time; transporting the electron and the proton, supplying oxygen and hydrogen and water management. The structure and composition of the catalyst layer affects all these roles. Optimization of the catalyst layer can provide for all these…

4. Financial Analysis 4.1 Time Series Analysis 4.1.1 Profitability Analysis Mayne Pharma reported sale revenue of $141.4M in 2015 underlying EBITDA of $36.4m and reported NPAT of $7.8m. The performance of 2015 seems unsatisfactory as the net profit margin is only 7.83% compared to 2014 where the net profit margin is 21.49% .These results were down due to the underperformance of products sold via third party US distributors in the first half of 2015 but the company realized the problem and has…

Evaluate any damaging financial and ethical repercussions of failure to include the inventory write-downs in the financial statements. Prepare a recommendation to the CFO, evaluating the negative impact of a civil fraud penalty on the corporation as a result of the IRS audit. In the recommendation, include essential internal control procedures to prevent fraudulent financial reporting from occurring, as well as the major obligation of the CEO and CFO to ensure compliance. Inventory write-downs…

2015 Assignment 3 laxman nayak [ASSIGNMENT 3] • Explain how assets and liabilities increase and decrease through credit and debit entries to general ledgers. The bookkeeping mathematical statement is a focal piece of accounting and bookkeeping. It can likewise give bits of knowledge into debits and credits. The fundamental bookkeeping mathematical statement is: Assets = Liabilities + Stockholders ' equity (if a corporation) Or Assets = Liabilities + Owner 's equity (if a sole…

A high Acid test is significant, current liabilities are short-term debts including accounts payable, other related expenses, and accrued salaries; if economic conditions continue to plunge, Competition Bikes must recognize their ability to meet these direct needs or not. The Acid Test ratio in the analysis illustrates year 7 at 4.52 while year 8 sits at 4.25. Due to the acceptable acid test ratio is .90 to 1.00 for most industries, it is benign to assume the high figures Competition Bikes’…

As a Business Support Manager at the Department of Social Services (DSS), I provided strategic and operational financial advice to the Executive leadership group and staff. The advice I provided included internal budget queries, financial delegations, compliance and procurement. I managed a budget of over $18 million which involved forming strategic relationships with the Directors (EL2s) and the State Manager. An innovative approach that I utilised for internal budgeting purposes was to…

Financial statements Introduction In this assignment I am going to be looking at the financial statements used by a commercial business. I will be explaining the key compartment parts of the income statement of a commercial business and making a clear distinction between gross and net profit. I am going to be covering both the trading account and the profit and loss account and explain the difference between the two. I am then going to give examples of the key component parts of the statement…