Case 10 2 Eagle Impairment Loss

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    Impairment Test

    Summary of Case Facts Donna Corporation operates in the U.S and Italy, and it prepares its financial statements in accordance with the U.S. GAAP for US lenders and with the IFRS for U.K. parent. U.S. operation: As of December 31, 2012, Donna owns a commercial building that represents: A cash-generating unit (CGU) under IFRSs and a long-lived asset classified as held and used under U.S. GAAP. In December 2012, Donna’s competitor sold an identical commercial building much less than asking price

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    Case Study 6-10

    Case Study 6-10 Facts: The Company has checking accounts in each of its locations: Baltimore, New York, and Philadelphia. There is a savings account in the Philadelphia branch with a balance of $100,000. The checking and saving accounts are all maintained through different banks. The Company’s New York office writes and mails a $30,000 check to Deep Pockets LLP. The Company’s bank reconciliation for the account indicated a negative $20,000 balance and the bank statement indicated a positive balance

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    Solvgen Case 10-1

    Case 10-1 SolvGen Inc. In this case study, we deal with two separate agreements between SolvGen and Careway Pharma that are being audited for the possible sale of SolvGen to Direct Drugs, Inc. First, is the research and development agreement between SolvGen and Careway. And second, is the license and distribution agreement between the aforementioned. These agreements are both written and contractually binding and are within the scope of Multiple Deliverable Arrangements. The deliverables for

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    Impairment Test

    Case 10-2 Ida’s Impairment Ida Inc. (Ida) is a manufacturing company with operations in the United States and Spain. As a U.S. subsidiary of a U.K. entity, Ida prepares its financial statements in accordance with (1) U.S. GAAP for reporting to its U.S.-based lender and (2) IFRSs in reporting to its parent. U.S. Operations In addition to other assets, Ida owns and operates a commercial building in the United States that is carried at its cost less any accumulated depreciation and any accumulated impairment

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    Case 10-2

    Recoverability test is one of the requirement tests for impairment. As a result, we need to verify if impairment should be recognized. 2. The impairement is $600,000. GAAP methodology of determining impairment uses a two-step recoverability test. Step one, requires a company to estimate the future undiscounted cash flows expected from the use of that asset and its eventual disposition. If impairment has occurred, step two would determine the loss by subtracting the fair value from the carrying amount

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    Case 10: Anti-Nepotism

    XXXXX XXXXXXXXXXX Keller graduate school of management | hrm 586: labor relations ------------------------------------------------- Case study 10 An Anti-nepotism policy XXXXX XXXXXXXXXXX Keller graduate school of management | hrm 586: labor relations ------------------------------------------------- Case study 10 An Anti-nepotism policy CASE OVERVIEW Mr. Keith Walton applied for a job at Manatee Power plant by filling out application form (C-1) on January 5, 1999. The (C-1) form specifically

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    Eagle Impairment Loss Case

    Case #2 (Eagle Impairment Loss) Question 1: The Impairment Loss of Eagle in Italy under IFRS Recoverability test: Asset’s carrying amount exceeds the recoverable amount which is the higher of the asset’s value-in-use (discounted present value of the asset’s expected future cash flows) and fair market value less costs to sell. (IAS36-15) According to IAS36-6, “an impairment loss is the amount by which the carrying amount of an asset or a cash-generating unit exceeds its recoverable amount.

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    Nt1210 Case Study 10

    In this case study we have been asked to create a report about disaster recovery and the best practices involved for such an incident. There are many types of disaster recovery systems that can be employed. For our purposes I will talk about two of the currently industry standards. First is the "Cloud-Based" disaster recovery. In this type of recovery, SMPR would be required to lease network storage space from a cloud-based DR vendor and SMPR would set up proprietary backup software that would communicate

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    Case Study: Eagle Mfg. Co.

    What might be some of the reasons other department are not cooperating with Ted Jones Group? The reason other departments other department are not cooperating with Ted Jones Group. After going through the case, I find the below reasons for why Ted is not getting support and cooperation from other departments. These are as below... 1. Lack of Training: This is the most important reason I find for non-cooperation of the other departments to the Ted department. Ted's staff has not received any

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    Impairment

    of your corporation’s tangible assets for possible impairments in value and also for possible impairment of value of the Goodwill booked on the corporation’s Balance Sheet, I have researched and concluded the following information and proper disclosures for XYZ Corporation. Tangible Assets Let’s begin with the tangible assets of the corporation. Over the useful life of the asset, it is necessary to periodically test for impairment. Impairment exists when the carrying value of a long-lived asset

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    Case 2

    351 Anne Surrey Investments Case Due: Wednesday, May 29 (at the beginning of class). Also, please be prepared to discuss the case and your solution in class on this date. Refer to the current, relevant accounting guidance to answer the questions on page 3 of the case. Required: Please be sure to reference the applicable professional guidance listed below. Your discussion should be typed, double-spaced and no more than 3 pages in length. Please prepare your case discussion in memo form (to

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    Eagle Impairment

    The case begins with describing Eagle impairment, which is a manufacturing company, which has operations in Italy and Serbia. In Italy Eagle owns and operates a commercial building that is carried at its cost less depreciation. The case then gives us a chart which shows us Cash generating unit that includes: carrying amount $1,100, value in use 900, fair market value less costs to sell 800, fair market value 850, and undiscounted future cash flows 1,150 all in thousands. Eagle’s manufacturing company

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    Eagle Impairment

    discount the downward revision to estimated future cash flows... In logical conclusion to this statement, we would Debit estimated cost decrease and credit the ARO account. It would be a debit to PP&E for $50000 and a credit to ARO for $50000. 2) The periods and amounts that BG should account for the decrease relating to the $50,000 downward adjustment recorded to the ARO in its income statement by are the periods should be recognized prospectively in current and subsequent periods. It will

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    Case 10-2 Eagle Impairment Case

    Case 10-2 Eagle Impairment Case Question #1 Under IFRS’ International Account Standard No.36^15 an asset must be assessed for indicators of impairment at the end of each reporting period. The information provided for the commercial building in Italy does not say whether there are is an event or change in circumstances that indicate that book value of the asset may not be recoverable. Since there is no indicator mentioned, one possibility would be that no investigation of impairment take place and

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    Case 11.9 - Goodwill Impairment Testing

    Equipment. During our audit, certain accounting treatments by Galaxy regarding goodwill impairment were found to possibly contradict with the Accounting Standard Codification. Based on my research of the ASC, my recommendations are that management should perform an interim goodwill impairment test at the end of third quarter of fiscal year 2009; and that management should not carry forward the 09 goodwill impairment test for Fitness and Hockey in 2010. Galaxy is in a competitive industry in which growth

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    Eagle Impairment Loss

    Eagle Impairment Loss Eagle Company (Eagle) is a manufacturing company with operations in Italy and Serbia. Eagle in Italy: In addition to other assets, Eagle owns and operates a commercial building in Italy that is carried at its cost less any accumulated depreciation and any accumulated impairment losses. The building represents a cash-generating unit (CGU) for which the following information is available as of December 31, 2010: Building | 12/31/10 inthousands | Carrying amount | $1

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    Case #2

    Vice President of Operations has established data for internal use of the two products in Quality, Product Development, and Maintenance Departments (see Table 2 below). As the consultant assigned to this project you are expected to perform the following tasks: 1. Identify potential demand forecasting techniques for the two products, 2. Recommend the most appropriate technique for each product, 3. Develop a monthly demand forecast for the two products for the next four months, 4. Explain

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    Case 10: Steele Enterprises

    Case 10: Steele Enterprises Main Problem: Constant fighting between Richard Leeman, Chief of Chemical Branch Public Relations and Donna Olson, Chief of Mechanical Branch Public Relations. Facts of the Case: 1. Olson and her team were tasked to take charge of the PR Dinner and she was claiming that Leeman suddenly took over the arrangements, without any directive from their boss, for the dinner which infuriated Olson. 2. Leeman was claiming that if it was not for him, the company would

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    Eagle Impairment Case

    Eagle Impairment Case The following report outlines an analysis of Eagle Company’s assets in Serbia and Italy. With the information provided, we have created a detailed report to assess which assets should be impaired along with its impairment value under the IFRS and US GAAP standards. Eagle in Italy Under IFRS: Eagle owns a commercial building in Italy. The carrying amount is $1,100 with $900 being the value in use. According to IAS 36 P18, “An asset is impaired when its carrying amount

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    Case Study 10 Godfrey

    Accounting Theory Case Study 10.2 Accounting for frequent flyer points: fact or fiction ? Maylinda Irmayanti (023111146) Windy Ayu Wulandari (023111239) Case Study 10.2 Accounting for frequent flyer points: fact or fiction? Accounting requirements under IFRS have changed the way airlines account for frequent flyer points. In the past, the cost/provision approach accounting practices were used. Under this method, the upfront sale of points to bank, credit

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    Eagle Company

    To: Eagle Company (Eagle) From: Subject: Eagle in Italy and Eagle in Serbia Impairments Date: May 7th 2014 1. For Eagle in Italy, is the building impaired under IFRS as of Dec. 31, 2013, and if so what is the amount of the impairment? After reviewing the given facts provided by Eagle in Italy, we have determined that there is an impairment on their building under IFRS for the amount of $200,000. We have determined this through the use of IAS-36 as well as the calculations given below:

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    Video Case 10

    Cristian Peña 13-0018 Management Information Sysems Video Case: Chapter 10 1. How does improving decision making add value for a business? Making the right decisions a leads to efficiency by making things run smoothly and in the right direction, as well as saving from unnecessary expenses and mistakes. Proper decision-making can also lead to the company growing, expanding, and generating larger revenues. 2. Explain why it might be useful to have detailed Web site metrics like those IBM provides

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    Eagle Impairment Loss

    Case 2: Eagle Impairment Loss 1. We have referred to IAS 36 to make the decision on the amount that should be impaired by Eagle in Italy. Since in the case it says that there are qualitative factors that suggest an impairment is likely, we have to evaluate based on the recoverability test. IAS claims that we can recognize an impairment loss under the following circumstances: “If, and only if, the recoverable amount of an asset is less than its carrying amount, the carrying amount of the asset

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    Case 10-1

    Officer A was in direct pursuit of the suspect’s vehicle. In fact, he was in such a hurry that he did not activate the sirens to warn others, and the suspect. He was ordered by the sergeant to halt his pursuit, but he ignored and persisted. 2. As an arbitrator, would you uphold or deny the grievance? Of course, as arbitrator, I would have to uphold the grievance in this instance. The Officer deliberately disregarded direct orders given by the sergeant; this constitutes clear and utter

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    International Business Case 10

    Francisco Huber BS 455 Case 10 1) Blades is subject to transaction and economic exposure. This is because transaction exposure is the degrees to which the value of future cash flows can be affected due to exchange rate fluctuations. On the other hand, economic exposure is the degree to which a firm’s present value of future cash flows can be influenced by exchange rate fluctuations. 2) Currency | Total Inflow | Total outflow | Net inflow/outflow | expected exchange rate | Net inflow

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    Eagle Manufacturing Company Case Study

    Case Name: Eagle Manufacturing Company Case Study I. Major Facts A. Ted Jones is the supply manager for the Eagle Manufacturing Company. He has been the supply manager for two years. B. Ted has been struggling with one crisis after another while trying to placate operations, plant maintenance, and seemingly half the management team (and their assistants). C. Although Ted Jones has a great team of buyers, expediters, and support staff who carry out top notch work, the

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    Eagle Tours Business Case

    Eagle Tours Case Case Description Eagle Tours is a travel services marketing and development company. It organizes domestic and international trips and cruises for businesses and consumers. It competes by providing very knowledgeable and enthusiastic sales people, excellent tour guides and tour coordinators service at a competitive, but not the cheapest price. The Mall Stores and Marketing Eagle has 5 travel stores in large Malls in metro areas of the U.S. The mall stores are places where

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    Goodwill Impairment Case

    Keville William Brown 797AT Case Study April 9, 2015 1. No, management did not have to perform an interim goodwill step 1 impairment test as of September 30, 2012. In December of 2011 Galaxy used an external valuation firm to perform its goodwill impairment analysis. This showed that each reporting unit passed step 1 of the impairment test because the fair value of their equity was well above the book value of their equity. In Q1 and Q2 following this impairment analysis earnings were below

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    Actg 351 Case 2

    Case #2 Murong Feng, Duy Do, TJ Fritzgerald, Hayden Jacobs 2/13/15 Question 1 Given the facts provided for Eagle in Italy, the building is not impaired under IFRS as of December 31, 2010. The carrying value is 1,100,000, and undiscounted future cash flows are 1,150,000. The carrying value is less than undiscounted future cash flows. According to IAS36 paragraph 12, “in assessing whether there is any indication that an asset may be impaired, an entity shall consider, as a minimum, the following

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    Eagle Manufacturing Case Study

    Case Study 1: Eagle Manufacturing Company I. Major Facts a. In the two years Ted has been with the company, he has put together a group of professionals, experts, and support staff whose work is tops. b. The performance of Ted’s department is satisfactory. c. Employee morale in the supply department has declined. d. Communication within the department is scarce. e. There will be a loss of an employee to a competitor for a better salary. II. Major Problem a. How

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    Assignment Case #10 – Hr586

    to it. Use of word “antinepotism” term used in this manual. 2. In 1998 employee hand book is published using “antinepotism” language. 3. 01/05/1999 Keith W. Walton applies for employment and declares that he had no relatives working in the company. He did not know of his uncle being hired at that time. 4. 04/30/1999 Keith W. Walton is hired as a helper 5. 2003 Employment of Relatives policy is inserted in employee handbook. 6. 10/2006 Confused supervisor tells employee not to worry after learning

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    Impairment

    AACT2006 CORPORATE ACCOUNTING IMPAIRMENT QUIZ QUESTIONS 1. In allocating an impairment loss for a cash generating unit which of the following assets would not be given a portion of the loss – land; machinery; inventory; manufacturing licence; receivables? Why? (1 Mark) 2. How is an impairment test undertaken? (2 Marks) 3. Peppermint Ltd has determined that its orchard division has suffered an impairment loss of $42 000 for the year ended 30 June 2013. At that date the carrying amount

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    Case Study 2: Eagle Manufacturing

    Introduction Ted Jones, a young man of 35 years, takes a reflective review of his 2 years tenure as the Supply Manager heading a team of professional buyers, expediters and support staff at Eagle Manufacturing Company. He reflects on his team’s laudable accomplishments, the different challenges that he has faced from the various departments within the organization, the incessant pressure from top management for seamless operations devoid of supply related problems, and seeks to find a way to solve

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    Impairment

    the impairment test. (1 Mark) 2. Name two (2) assets excluded from the application of IAS 36. (1 Mark) 3. When does an entity conduct an impairment test? (1 Mark) 4. Name two (2) assets subject to an annual impairment test. (1 Mark) 5. How is an impairment loss calculated? (1 Mark) 6. Define “recoverable amount”. (1 Mark) 7. Define a “cash generating unit”. (1 Mark) 8. How do you account for an impairment loss incurred by a cash generating unit? (1 Mark) 9. Name two (2) restrictions

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    Case 2

    ------------------------------------------------- CASE 2-1 BMW Taps the Emerging Chinese Luxury Markets ------------------------------------------------- MAR 4503 Consumer Behavior FIU JEREMIAS CUADRA, CHARLES KETTEL Abstract BMW is one the largest automobile industries in the word, when you think of BMW you can surely say it's a high quality luxury car. The focus is to re-position itself in a new market. Which is the Chinese luxury market. How does a powerful company like BMW get ahead

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    Goodwill Impairment at Jackson Enterprises Case

    Xinyun Zhang ACCT325 Individual Case Goodwill Impairment at Jackson Enterprises Case 1. When is a company required to perform the two-step test for goodwill impairment? Explain in your own words and provide citation from the ASC. Goodwill is considered impaired when the implied fair value of goodwill in a reporting unit of a company is less than its carrying amount, or book value, including any deferred income taxes. By qualitative factors, if the fair value is less than its book value

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    Fasb Research Case Eagle Inc.

    Background Eagle Incorporated (“Eagle”) recently entered into a contract with Tiger Company (“Tiger”) to lease a backhoe, which Eagle will use for a new project involving the construction of several apartment complexes in the Mobile area. The pertinent terms of the lease are as follows: • The lease term is for 10 years, while the economic life of the backhoe is estimated to be 15 years. The useful life of the backhoe is also estimated to be 15 years. • Annual lease payments of $16,000 are due

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    Case 10

    Zach Arsenault January 12, 2016 BA 327 Case 10 Summary: David Hannigan began as a line manager at a subsidiary of Emperor Corp., a manufacturer of automobile parts. David quickly moved into management after displaying his skills of maintaining efficiency, leadership, and his friendships with the factory workers. David was caring and empathetic towards his employees and everyone respected him. He made them feel like their contributions mattered and pushed them to work hard. Shooting up

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    Eagle Bank

    Eagle Bank Assignments 1. Type of crime * Scenario 1 is economic crime which is the illegal acts committed in order to achieve economic gain. * Scenario 2 is white collar crime. The person used his economic power for some purpose of illegal gain and also committed illegal act for personal gain. 2. Subject * Scenario1: suspects are the individual A,B and C * Scenario2: suspect is Smith 3. Victims * Scenario1: * the bank’s employees and customers, * customers

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    10 Task 2

    Unit No.10 & 36Task 2 | Unit Title. Market research in business Starting a Small Business | Applicable to: | | | Extended Diploma | | P/M/D Criteria covered: | Task 2: P1, P2, P3, M1 – U10 & P2 - U36 | Performance criteria being addressed in this assessment:Unit 10 - Market research in businessLO1 – Understand the main types of market research used to make marketing decisionsLO2 – Be able to plan researchP1 - Describe types of market researchP2 - Explain how different market research

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    Eagle Industry Case

    : Eagle Industry Case 1. Why are office products frequently chosen as a lead commodity in strategic sourcing efforts?  In an effort to reduce the overall costs associated with the purchases of the outside goods and services, though the office supplies were not the largest part, it’s chosen for variety of reasons: a. With office supplies, there is no difficulties in comparison and substitution as there is very little or no differentiation among the suppliers and products

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    Case 2

    Assignment: Which are the trade offs you see in this case and how do they work out strategically? 1. CUBS thought of merging the different divisions of the bank’s operations together. A division such as Marketing and Sales would remain separated from the other divisions in order to focus on the specific markets in which they operate. The Operations division however would be combined as one large supplier of service. This trade-off considers two objectives: Cost (economies of scale) and the general

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    Acc Case 10-1

    GROUP CASE 10-1 1. From the documents of "Deliverables" on blackboards, although the words “deliverable” did not have a clear definition, there are lots of potential deliverables that entities may considering. We can find that in the case 10-1 SolvGen Inc., the selling of proprietary instrument systems, which is under the five-year license and distribution agreement, is a deliverable. From the case we know that Careway will have the right to market and distribute the proprietary instrument systems

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    Case 04-4: Three Little Pigs, Inc.– Inventory Impairment

    outside third parties. PIGS does not have any commitments to sell live hogs to third parties and it does not hedge its live hogs through commodity futures contracts. PIGS has three major categories of hog inventory: (1) live hogs available for sale; (2) developing animals; and (3) processed pork products. Management is confident that the wholesale price of processed pork products exceeds the cost to bring such products to market. However, spot market prices charged for live hogs sold to third parties

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    Case 10-1

    Case 10-1 SolvGen Inc. Direct Drugs Inc. (Direct) is planning to acquire SolvGen Inc. (SolvGen or the Company), a publicly owned company, during the fourth quarter of fiscal year ending December 31, 2010. Direct has engaged our audit engagement team to perform due diligence procedures, with an emphasis on the review of two separate material agreements: (1) a research and development agreement and (2) a license and distribution agreement, both executed by SolvGen during the first quarter of fiscal

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    Goodwill Impairment

    IMPAIRMENT Depreciation, depletion, and amortization reflect a gradual consumption of the benefits inherent in an operational asset. An implicit assumption in allocating the cost of an asset over its useful life is that there has been no significant reduction in the anticipated total benefits or service potential of the asset. Situations can arise, however, that cause a significant decline or impairment of those benefits or service potentials. An extreme case would be the destruction of a plant

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    Case 10-4

    AU Section 326) Categories of findings According to the interviews and onsite visits findings 23 warehouses reside in states with special asbestos handling and removal laws during building demolitions or significant renovation. LOI plans to sell 10 of these warehouses within the next five years and plans not to demolish or renovate the warehouse prior to disposal. LOI will never effectively settle the obligation to remove the asbestos from the warehouse, there is no ARO that needs to be recognized

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    Exercise 10-2 Ojt

    Exercise 10-2: OJT Start off the training the first day would start with some classroom training so that we can start with information about the company, what their new job will be like and go over the safety rules so that we can make sure everyone is in a safe environment. I feel that it is very important that an employee knows what they is sell and who they are working for because one of the greatest selling tool you will have is a love for what you are selling and the belief that your company

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    Apple Case 10

    Case 2: Apple Inc., 2008 Date: 23-09-2009 1 Table of Contents Table of Contents .................................................................................................................................... 2 Introduction............................................................................................................................................. 3 Theory and Analysis...................................................................................................

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    Case 10

    obtained directly by auditors,2) it is obtained from sources outside the entity rather than internal to the entity, and 3)the entity’s internal controls are more effective rather than less effective. These basics concepts provide the basis for the following hierarchy of audit evidence quality. 1. Auditors’ direct, personal knowledge, obtained through physical observation and auditors’ own mathematical computations, is generally considered the most reliable evidence. 2. Documentary evidence obtained

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