Asc 840 Case 08 4 The Bear Minimum Provision

  • Needs Space 9-4

    09-4 Needs Space: Accounting for Lease Agreements Background NeedsSpace have entered into a leasing agreement with WeHaveIt to rent space for its corporate offices. Certain provisions have been included within the lease that Needs Space must take into consideration. ASC 840 has defined this lease as an operating lease. Key Facts The lease agreed upon is a 10-year term lease with no option to renew. Furthermore, there is no ability to negotiate for renewal. The following provisions are included

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  • The Bear Minimum

    Big Bear Power is a public utility with a strong financial position for the past several years. As a result of having a positive cash flow, Big Bear is in compliance with all of its debt covenants. Big Bear has entered a 10 year non-cancelable lease with Goliath Company for a combustion turbine. The lease is signed on December 15, 2010 and the right to use the turbine begins on January 1, 2011. Relevant Issues and Case Facts The case focuses on whether certain costs and provisions associated

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  • Case 2.2 - Golden Bear Golf

    2.2- Golden Bear Golf, Inc. 1. The assertions relevant to Paragon include the occurrence and accuracy of transactions, the valuation and allocation of account balances, and also the occurrence, classification and understandability and also accuracy and valuation of presentation and disclosure. In order to verify the occurrence and accuracy of transactions, Arthur Anderson should have sent out accounts receivable confirmations for the unbilled transactions included in their revenues and also to those

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  • Vermont Teddy Bear Case Analysis

    Case study :The Vermont Teddy Bear Company® 2013 Florine Buteau Shenandoah University 28/02/2013 The Vermont Teddy Bear Company Almost everybody has had a plush bear when they were young. It’s a symbol of tenderness and gentleness. I personally had different bears made in Germany, China, England…with different forms, colors and names. Even if the teddy bear manufacturing is a saturated industry with many competitors, it has not prevented the Vermont teddy Bear Company to launch its own business

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  • Bear Minimum

    Case 08-4 The Bear Minimum Big Bear Power (Big Bear) is a public utility company that has posted strong financial results for several years. Big Bear has positive cash flow, and it is in compliance with all its debt covenants. Big Bear leases a combustion turbine from Goliath Co. (Goliath) for a 10-year noncancelable term. The lease agreement is signed on December 15, 2010, and Big Bear’s right to use the turbine begins on January 1, 2011. Various provisions and other facts from the lease are listed

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  • Case 9-4 Needsspace

    Lease agreements have certain provisions depending on how the contract is written by the lessor to the lessee and what type of lease agreement. In this lease agreement we are focusing operating lease with provisions of NeedSpace and WeHaveIt, which has a 10 year lease term, no options to renew or negotiate renewal offered in the contract and the lessee incurs certain cost, repairs and maintenance. In regards to ASC 840 leases, according to 840-10-20 and 840-10-05-9A, 840-10-05-9B an operating lease

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  • Case 4 Provisions and Contingencies

    Scenario # 1 The oil company has contaminated soil and has a history of cleaning up contaminations if required by law. It is virtually certain there will be a law requiring such cleanup shortly after year-end. Environmental Loss Contingencies 410-30-05-25 Although environmental remediation liabilities is not one of the examples discussed in paragraph 450-20-05-10, environmental remediation liabilities are loss contingencies, and the discussion in paragraphs 450-20-55-10 through 55-17 can

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  • Provision 3

    Provision 3 In each calendar year after 2011, Cascade will pay minimum rent in an amount equal to $1 million increased (but not decreased) by the same percentage as the increase in the consumer price index (CPI). Thus, the problem here is whether the $1 million rent and the probable increased rental fees (due to increase in the CPI) should be included in minimum lease payments. According to FASB ASC paragraph 840-10-25-5, “minimum lease payments comprise the payments that the lessee is obligated

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  • Build a Bear Case Study

    BUILD-A-BEAR CASE STUDY NAME: INSTITUTION; COURSE: PROFESSOR: DATE: From my analysis of the background information provided in the textbook, I would classify Maxine Clark as an ENTP (Extraversion, Intuition, Thinking, and Perceiving) falling under the intuitive type. People of this personality type interact with people, are open to possibilities, analytical and flexible (Nelson & Quick, 2011, pp. 118-119). The interactive nature of her personality is evident in how the business collects

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  • Bear Stearns Case

    Bear Stearns Case * * * Key Ratios Capital Ratio: This is a measure of a bank's financial strength based on the sum of its equity capital and disclosed reserves. A Tier 1 capital ratio of 6% or greater would classify the banks as well capitalized. At the beginning of March, Bear Stearns had virtually no assets valued at level 1 which leaves their capital ratio at virtually 0. Leverage Ratio: the Tier 1 leverage ratio is calculated by dividing Tier 1 capital ratio by the firm's

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  • Cases

    CASE: Reporting Comprehensive Income: IFRS vs. US GAAP a) Messrs. Cope and Foster dissent from this Statement because it permits an enterprise to display the items of other comprehensive income identified in this Statement with less prominence and to characterize them differently from other items of comprehensive income that are currently included in net income. Messrs. Cope and Foster believe that a primary objective in undertaking a project on reporting comprehensive income was to significantly

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  • Big Bear

    The Bear Minimum Big Bear Power (Big Bear) is a widely held public utility company that has posted strong financial results for several years. Big Bear has positive cash flow, and it is in compliance with all its debt covenants. Big Bear leases a combustion turbine from Goliath Co. (Goliath) for a 10-year noncancelable term. The lease agreement is signed on December 15, 2010, and Big Bear’s right to use the turbine begins on January 1, 2011. Various provisions and other facts from the

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  • Vermont Teddy Bear Case Analysis

    Vermont Teddy Bear Management information systems – MBA 615 2014 Table of Contents Executive Summary 2 Current Situation 3 Business Situation 3 IT situation 3 Problem Statement 4 Proposed solutions and alternatives 4 Overview 4 ERP 6 Supply Chain Management Software 7 CRM 7 Data Warehouse 8 Localized upgrades 8 Comparative study 9 Ideal Infrastructure 10 Recommendations 11 References …………………………………………………………………………………………………………………………….. 13 Executive Summary

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  • Case 4

    just for managers; it is relevant and useful to anyone who works in and around organizations. Canadian and Global orientation Canadian Organizational Behaviour, Seventh Edition is written by Canadians for Canadians. It includes several Canadian cases, is anchored by Canadian and global scholarship, and is filled with Canadian examples of organizational behaviour in practice. For example, you will read about practising virFOURTH PASS tual work at Telus; generating positive workplace global connections

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  • The Bear Minimum

    Case Study 2: The Bear Minimum 1. Big Bear would not include the $500,000 in legal fees paid to Stipe, Berry, Black, and Mills LLP as apart of its minimum lease payments, but would include the $1,000,000 of legal fees paid to Goliath. This conclusion can be drawn from two separate parts of FASB Codification on Leases. According to ASC-840-10-25-5, “…minimum lease payments comprise the payments that the lessee is obligated to make or can be required to make during in connection with the leased

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  • The Bear Minimum 08-04

    Like any master of the art, Jiro, who is 85, can show you how a trick works, let you see the details, and yet it still mystifies anyway. That is the hallmark of true magic. But while other magicians work with top hats and rabbits, Jiro works with sushi. His restaurant, a tiny, 10-seat spot in a Tokyo subway station, is widely acclaimed as home to the greatest sushi in the world. There is nothing in David Gelb's lovingly obsessive documentary "Jiro Dreams of Sushi" that dispels that notion. Obsessive

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  • Big Bear

    “The Bear Minimum” Case 08-4 Blakely Broom Connor Greco Spencer Craft Big Bear Power, a widely held public utility company, has agreed to a 10-year non-cancelable lease of a combustion turbine from Goliath Co. The lease was signed on December 15, 2010, and begins on January 1, 2011. The lease requires Big Bear to pay $1 million of legal fees incurred by Goliath, and third party legal fees as part of the lease. The lease also states that if a change in control event occurs, Big Bear must

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  • Bear Minimum

    similar contracts in the ball park of 4 million which was our starting target. The negotiation process started with the first element of a sports contract as stated in chapter 3 with an offer. Colts representatives Jonathan Blackwell and Andrew Guice stated their initial offer at a 4 year, 3.2 million dollar deal, referencing former 5th running back picks in prior drafts. Examples were Christine Michael who was the 5th running back taken in the 2013 draft for a 4 year, $3.37 million contract to the

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  • Bear Minimum

    The Bear Minimum Big Bear Power (Big Bear) is a widely held public utility company that has posted strong financial results for several years. Big Bear has positive cash flow, and it is in compliance with all its debt covenants. Big Bear leases a combustion turbine from Goliath Co. (Goliath) for a 10-year noncancelable term. The lease agreement is signed on December 15, 2010, and Big Bear’s right to use the turbine begins on January 1, 2011. Various provisions and other facts from the lease are

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  • Bear Power

    CASE STUDY GROUP ASSIGNMENT. Answer (A) Provision 1 According to ASC 840-10-55-10, “amounts paid in consideration for a guarantee by an unrelated third party are executory costs and are not included in the lessee’s minimum lease payments.”2 The external legal counsel fee of $500,000 that Thurber paid to Stipe, Berry, Mills and Buck LLP in connection with negotiating the lease agreement are executory cost because they are all third parties that guarantee for the

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  • Build a Bear Case - Leases

    Kamran Burki Build-A-Bear Case – Lease a. Companies lease assets rather than by them because the company might need the asset for only a short period of time. The company might also not want to report an asset or liability or the company simply might not have enough cash to buy the asset. In addition, the company also might have difficulty getting a loan to finance the purchase. b. An operating lease is very similar to a rental agreement. The company does not have ownership of the asset

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  • Actg

    Case 1: Deloitte and Touche Case “The Bear Minimum” Due Date: Wednesday, April 9th, 2014, beginning of class You may prepare the solution to this case in groups of up to 4 people. Your solution to this case must be typed. Please include your names on a cover sheet to the assignment. Students must submit one case solution per group. I suggest that you each bring a copy of your solution to class to use during class discussion of the case. The purpose of this case is for you to work on your research

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  • Trueblood Case 09-4 Solution

    Case 9-4 How should NeedsSpace account for the two obligations noted as provisions in the lease agreement? ● Provision 1: “Lessor may require the lessee to perform general repairs and maintenance on the leased premises.” By entering the lease agreement, NeedsSpace (the lessee) becomes legally and contractually responsible for performing general repair and maintenance on the leased premises. Assuming that the lessee is required to make deposits to financially protect the lessor concerning

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  • Regulations Within the Ghanaian Banking Industry: a Case of Increasing the Minimum Capital Requirement.

    One way the central bank does this is to ensure that banks have capital adequacy to a certain level through the regulation of the minimum capital requirement. The issue of the minimum capital requirement, its increases and implications has always been an issue of hot debates amongst economists, and even politicians. The minimum capital requirement is the minimum level of security below which the amount of financial resources should not fall (European Parliament legislative resolution of 22 April

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  • Case 4

    Case 4: Overhead Reduction Task Force At one point or another, everyone has been placed in a group of people and assigned a task that needed to be accomplished. Many of these groups are simply that, a group. The task that many fail to see as the number one objective of the group is to foster a teamwork by actually transforming the group to a cohesive team. The idea sounds fairly simple and transparent, "If everyone works together, we have a team!" This could not be farther from the truth. Teamwork

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  • Delloite and Touche: Bear Minimum Case

    The University of Oregon “The Bear Minimum” Case ACTG 352: Intermediate Accounting III October 9th, 2014 To: Big Bear Power Date: October 7, 2014 Re: The Bear Minimum Summary Big Bear Power, a public utility company, has entered into a 10-year non-cancelable agreement with Goliath Company to lease a turbine. The lease is effective on January 1, 2011. The purpose of this report is to provide Big Bear with insight in evaluating whether the costs or potential costs associated with

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  • Bear

    Case 08-4 The Bear Minimum Big Bear Power (Big Bear) is a public utility company that has posted strong financial results for several years. Big Bear has positive cash flow, and it is in compliance with all its debt covenants. Big Bear leases a combustion turbine from Goliath Co. (Goliath) for a 10-year noncancelable term. The lease agreement is signed on December 15, 2010, and Big Bear’s right to use the turbine begins on January 1, 2011. Various provisions and other facts from the lease are listed

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  • Case #4

    Case #4 – Should London Police Arrest Prostitutes or Help Them? Qiaobin Lin Q1. Should McGowan support Peer’s recommendation for a program to monitor and assist street-level sex trade workers? Is this a job for police? Can they do it? Should they do it? I think McGowan should support Peer's recommendation for a program to monitor and assist street-level sex trade workers. The street-level prostitutes in London included some young girls who have fell in wrong crowd or have bad family. Some

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  • Build-a-Bear Case Analysis

    Introduction Build-A-Bear Workshop, Inc. (Build-A-Bear) is a retailer that offers its customers a unique experience. With its focus primarily on kids, this giant retailer provides a way for children to customize what their stuffed animals could and should look like. Build-A-Bear is the only U.S. based retailer that offers an interactive make-your-own stuffed animal retail-entertainment experience. Their stores provide an extensive selection of merchandise, including over 30 different styles

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  • Mama Bear Case Analysis

    CASE ANALYSIS – ABC STEEL COMPANY I. VIEWPOINT: Vice-President Production II. TIME CONTEXT: Upon appointment of Mr. Roberto Cruz as the new Shop Manager III. PROBLEM STATEMENT Delay in delivery of finished goods IV. STATEMENT OF THE OBJECTIVES To zero backlog by end of the third month. V. AREAS OF CONSIDERATIONS Strengths  Producer of top quality steel products  Largest producer of fabricated steel products  Majority of workers are within nearby district

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  • Deloitte Case 13-08

    Case 13-08 overview M international (M) and W Inc (W) decided to enter a long term litigation, due to a patent rights violation. M being the demandant and W the respondent. Not enough information was provided in relation to the charges or the patent. To properly understand the events a chronological descripcion of the litigation is to be provided. Events: Problems to be addressed Is necessary to understand the proper and logical accounting literature to address the matter previously

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  • Case 4

    Case Study #4 (7/11 Japan) 

A convenience store chain attempts to be responsive and provide customers what they need, when they need it, where they need it. What are some different ways that a convenience store supply chain can be responsive? What are some risks in each case? -A convenience store can be responsive in a few different ways in order to meet customer needs and wants. The store can conduct customer surveys in order to get a direct response on what the store is lacking or what customers

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  • Asc 815

    Discuss whether the following meet the definition of a derivative under ASC 815 Consider the definition of derivative first. Notional Underlying No initial net investment Net Settle 1. A contract to purchase 100 common shares of a publicly traded corporation, at a price of $10 per share on 6/30/2012. No. it is a regular way trade security. 2. A contract to sell EUR 1MM for USD 1.3MM on 6/30/2012 No net settle; 3. A contract that pays the difference between 5% (fixed interest

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  • Case 4

    ACTG 4650 CASE 4 – SUMMER 2015 DUE August 3 Smooth Sailing is a private company that operates one cruise ship. Smooth Sailing’s purchase of the cruise ship was financed with nonrecourse debt. (Nonrecourse debt is a loan that is secured by a pledge of collateral, in this case the cruise ship, but for which the borrower is not personally liable. If the borrower defaults, the lender can seize the collateral, but the lender’s recovery is limited to the collateral.) The cruise ship has its own

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  • Acc 301 Case 4

    Case 8-4 the Bear Minimum Case 8-4 The Bear Minimum Provision 1 According to 840-10-25-5 (b) it seems that the legal fees being paid by Big Bear for Goliath Co. would be excluded from the minimum lease payment. Reading further in 840-10-25-6 (e) it says “Fees that are paid by the lessee to the owners of the special-purpose entity for structuring the lease transaction. Such fees shall be included as part of minimum lease payments” so you would include these fees paid by Big Bear for the structuring

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  • Case 4

    Case 4. PONCIANO RETAILING COMPANY: Yesterday Mr. Ponciano Samonte was 25 years old when he organized his business firm, Ponciano Retailing Company. He asked Danny, the younger brother of his school classmate, to join him in his newly formed business As the years passed, the firm made good in the grocery retail business. Together, Ponciano and Danny established one branches after another. Within span of 20 years, 19 branches were established throughout Central Luzon Cagayan Valley. The total

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  • Fasb Research Case Eagle Inc.

    lease arrangement with Eagle be classified? In order to classify this lease arrangement properly, Tiger’s initial step is to determine whether to record the lease as an operating or capital lease. The FASB Accounting Standard Codification (ASC) topic ASC 840-10-25-1 offers guidance on this matter. 25-1 A lessee and a lessor shall consider whether a lease meets any of the following four criteria as part of classifying the lease at its inception under the guidance in the Lessees Subsection of this

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  • Build a Bear Case Study

    BUILD-A-BEAR CASE INCIDENT 1. An example of need in a Build-A-Bear Workshop is when a child is looking for a stuffed for herself or an adult looking for a gift of their loved ones for special events. An example of wants is when they want a stuffed that they could make it by themselves and be able choose what kind of toy animal or stuffed toy you like. An example of a demand is when you can be able to customize the stuffed toy that you want such as dressing it up and putting a recorded sound

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  • Case 4

    She is a 54 year old receptionist at Meadowlands. Jenniges loves to spend countless hours reading books. She loves work during the winter time because work tends to be much slower. She can spend more time reading her books. Jenniges spends at least 4 hours on the weekends reading. The convenience factor for e-readers is the biggest reason why she prefers them. Jenniges doesn’t like the size of some of the books. She often uses her phone as an e-reader. “Books are bigger and fatter than e-readers

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  • Big Bear Power

    Memorandum To: Big Wig, CFO, Big Bear Power From: James Albert Date: March 24th, 2016 Subject: The Bear Minimum Statement of Relevant Facts: Big Bear Power and Goliath Company entered into a contract in which Big Bear leased a combustion turbine. * The contract was signed on December 15th, 2004, but did not begin until January 1st, 2005. * The contract lasts for 10 years and is non-cancelable * Big Bear pays $500,000 in legal counsel fees, and are required to pay $1,000,000

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  • Case 8-4 the Bear Minimum

    Case 8-4 The Bear Minimum Provision 1 According to 840-10-25-5 (b) it seems that the legal fees being paid by Big Bear for Goliath Co. would be excluded from the minimum lease payment. Reading further in 840-10-25-6 (e) it says “Fees that are paid by the lessee to the owners of the special-purpose entity for structuring the lease transaction. Such fees shall be included as part of minimum lease payments” so you would include these fees paid by Big Bear for the structuring the lease. In the

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  • Case08-4 Deloitte

    Case 08-4 The Bear Minimum Big Bear Power is a public utility company that has posted strong financial results for several years. Big Bear has positive cash flow, and it is in compliance with all its debt covenants. Big Bear leases a combustion turbine from Goliath Co for a 10-year non- cancelable term. The lease agreement is signed on December 15, 2004 and Big Bear’s right to use the turbine begins on January 1, 2005. Various provisions and other facts from the lease are listed below. Provision

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  • The Bear Minimum

    Case 8-4 The Bear Minimum Provision 1 According to 840-10-25-5 (b) it seems that the legal fees being paid by Big Bear for Goliath Co. would be excluded from the minimum lease payment. Reading further in 840-10-25-6 (e) it says “Fees that are paid by the lessee to the owners of the special-purpose entity for structuring the lease transaction. Such fees shall be included as part of minimum lease payments” so you would include these fees paid by Big Bear for the structuring the lease. In the

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  • Case 08-2 Sooner or Later

    Case 08-2 Sooner or Later On January 1, 2006, Sooner or Later Inc. granted 1,000 “at-the-money” employee stock options (i.e., the exercise price was equal to the stock price on the grant date). To align the compensation of the employees with the financial performance of the company, the award will vest only if cumulative revenue over the following three-year reporting period is greater than $10 million and the employees are still employed by Sooner or Later. As of the date of the grant, management

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  • The Bear Minimum

    Case 08-4 The Bear Minimum Big Bear Power (Big Bear) is a public utility company that has posted strong financial results for several years. Big Bear has positive cash flow, and it is in compliance with all its debt covenants. Big Bear leases a combustion turbine from Goliath Co. (Goliath) for a 10-year noncancelable term. The lease agreement is signed on December 15, 2010, and Big Bear’s right to use the turbine begins on January 1, 2011. Various provisions and other facts from the lease are

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  • Case 4-4

    Case 04-4 Three Little Pigs, Inc. Three Little Pigs, Inc. (PIGS), a public entity, is a vertically-integrated provider of pork products to the wholesale and retail food service and institutional markets in the United States. The Company produces approximately 4.1 million hogs per year and processes the majority of the hogs in its own facilities. The Company also sells a portion of the hogs produced (live hogs) to outside third parties. PIGS does not have any firm commitments to sell live hogs to

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  • Case 10-4

    availability of a legally abiding contract to sell the warehouse in the next six months to a third party with a standard provision allowing the buyer to require LOI to remove the asbestos prior to the date of the sale. From previous transactions with the same third party, LOI is never allowed to remove the assets from the warehouse. Moreover, there is no sufficient information provided in ASC 410-20-25-10 to determine the fair value of the ARO due to the uncertainty of LOI to require removing the asbestos

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  • Case 4

    ACW410 - Case 4 The Electricity Generating Corporation Introduction The Electricity Generating Corporation (EGC) is located in a democratic Asian country. EGC was established as a nationalised industry many years ago. Its home Government at that time had determined that the provision of the utility services of electricity generation and gas production should be managed directly by boards which were accountable directly to Government. In theory, nationalised industries should be run efficiently

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  • Case 08-2

    J. Morris, Department of Accounting From: Group #3 (Taylor Penick, Bret, Mike) Date: June 12, 2012 Subject: Acctg 642: Case 08-2, Sooner or Later Inc. Statement of Facts On January 1, 2006 Sooner or Later Inc. granted 1,000 stock options. The exercise price of the options is equal to the stock price at the grant date. The company has included the following provisions to the options: 1. Stocks options will only vest if the cumulative revenue over the following 3-year period is greater than

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  • Case Study 08-01

    Case 08-01 Go With the Flow INC. 1. Insurance Settlement Proceeds According to ASC 230-10-45-12, “All of the following are cash inflows from investing activities: • a.   Receipts from collections or sales of loans made by the entity and of other entities' debt instruments (other than cash equivalents and certain debt instruments that are acquired specifically for resale as discussed in paragraph 230-10-45-21) that were purchased by the entity • b.   Receipts from sales of equity instruments

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