ipl-logo

Asc 230 Summary

524 Words3 Pages

FASB Standard 230-10-10-1 states, “The primary objective of a statement of cash flows is to provide relevant information about the cash receipts and cash payments of an entity during a period.” Go With the Flow Inc. had several unique transactions throughout the year that require accounting treatment analysis under ASC 230. First, Go With the Flow received a $20 million insurance settlement from their insurance carrier as a result of a tornado that destroyed one of the company’s warehouses. The $20 million dollar insurance settlement should be treated as an investing activity on the financial statements. According to FASB standard 230-10-45-12C, receipts from sales of property, plant, and equipment are to be considered investing activities

Show More
Related

  • Groupon Inc. And Revenue Recognition Issues

    1640 Words  | 7 Pages

    DATE: September 23, 2015 TO: Professor Stevens FROM: Briana Nguyen SUBJECT: Groupon, Inc., and Revenue Recognition Issues PURPOSE This report will explore the accounting treatment employed by Groupon, Inc. (“Groupon”) in its revenue recognition for fiscal years 2008 through 2010 as well as the first six months of 2011. Specifically, we will review the following in regard to its initial public offering (IPO) in accordance with FASB’s Accounting Standards Codification (ASC): • Revenue recognition as a primary obligor • Revenue recognition as a principal or an agent • Revision of revenue recognition on gross basis to net basis and effect on revenue and net income BACKGROUND In November of 2008, Andrew Mason, Eric Leftkofsky, and Bradley Keywell

    Read More

  • C3220 Unit 2 Assignment 1

    223 Words  | 1 Pages

    C3220 Description: IC50: N/A XAP044 is a mGluR7 antagonist. The function of metabotropic glutamate receptor subtype 7 (mGlu7), an critical presynaptic regulator of neurotransmission in the mammalian CNS, has been linked to drug abuse, anxiety, autism, as well as depression. However, it is difficult to develop specific blockers of native mGlu7 signaling in relevant brain areas such as limbic cortex and amygdala.

    Read More

  • Bus 311 Unit 3 Research Paper

    574 Words  | 3 Pages

    Unformatted content sneak peak: READY AIM FIRE 1 Ready Aim Fire: At-Will Employment Name Bus 311 Marla Muse March 6, 2013 READY AIM FIRE 2 The freely livelihood teaching vocation voluntarily implies that head honchos have the capacity to fire ones business whenever, for any reason - with or without notification. (Rogers, S. 2012) was put into spot to ensure both the worker and the boss. By making the work freely both the business and worker can void the agreement whenever without repercussions. The "Vocation At Will" Doctrine was made in the US in the late 1800 's. This Doctrine was supported by head honchos since it gave them compelling opportunity to maintain their business as they saw fit and ensured them by the courts in the meantime. Similarly

    Read More

  • Xacc/280 Week 9 Final Paper

    498 Words  | 2 Pages

    Phase 1: Initial assessment of the situation The first phase starts when the initial activities obtain positive results and the sponsor decides to proceed. Therefore, the encouraging system is looking for data identifying with: Outline of the region as well as issue distinguishing proof and effect. Apart from this there is key players in the nearby health administration environment. Additionally, we can ask expected results to group repressive.

    Read More

  • Hsc300 Unit 6 Cim

    593 Words  | 3 Pages

    Any information we receive from you online, is collected through our SSL (Secure Socket Layer), which assures you that this information will be kept on our secure servers, and is not available to any outside party not participating in our marketing programs, or using our marketing tools. Non-Liability: We have no control over the privacy policy of our customers once you provide them with private information directly. This includes third party websites that you may connect with while using one of our websites. We are not responsible for data other companies obtain in this manner. CONSENT

    Read More

  • Hsc300 Unit 4

    323 Words  | 2 Pages

    Regardless how much time is left in the shift,I 'd start by going over to the client who is injured and assist him. I would ensure that the client has clear airways and can breath. I would call for 9-1-1 and staff assistance. While emergency services are on the way I 'd look to see if there are any hazards in the area for us or the client. It 's important to stay calm and quiet with the client while we wait for emergency services to arrive.

    Read More

  • Xacc 280 Week 7 Checkpoint

    1977 Words  | 8 Pages

    The business and marketing world is a very risky and difficult career. You don’t know what decisions can drastically change your entire company. I will be talking about the fact that Gamestop can possibly go down the same hill as BlockBuster. Now a days, everyone is always talking about the new video games and how they are willing to wait outside of the store until the game gets released. The good thing is that with all of the new technology, they won’t have to suffer the long waits.

    Read More

  • Citizen 13660 Summary

    1032 Words  | 5 Pages

    Written prompt of Citizen 13660 by Mine Okubo Summary Citizen 13660 is an illustrated picture book representing the internment of people who were of Japanese descent. More than 110,000 Japanese people were evacuated simply because of their racial background. This has been no reasonable justification as to why the order of 9066 was even made. Fear swept over the United States after the attack on Pearl Harbor. This caused a mass spread of propaganda which degraded anyone of Japanese ancestry.

    Read More

  • CCC Community Collaboration Paper

    475 Words  | 2 Pages

    The CCC community felt motivated to respond in Christian charity to the conditions represented by recent events in Syria, and to make plans for entering into a sponsorship of a Syrian refugee family. At the time of our last PC meeting, two Cathedral initiatives were involved with early stages of sponsorship planning, one through the Cathedral Justice Group, and the other, Vancouver Acts. At that time, PC appraised plans for entering into a refugee sponsorship, and created a sub-committee to work alongside these two efforts, to allow communication, and to offer support and assistance. The Refugee Sub-Committee organized to meet its purpose over the last month. Today, PC is invited to review its actions, and assess current recommended strategies for co-sponsoring a Syrian refugee family.

    Read More

  • Xacc/280 Week 6 Checkpoint

    354 Words  | 2 Pages

    Interestingly, social function was the most frequently selected domain with pain intensity, although participants did not consider social health as an important area as physical health, which was obviously supported by the results of the open-ended question and PROMIS cards parts of the interview. Social function was merged from two PROMIS domains; “ability to participate in social roles and activities” and “satisfaction with social roles and activities”. These two domains were combined because the participants had difficulty differentiating between them and therefore they only selected one of them during the interview. A systematic review showed that the social component of life was important for individuals with LBP 55. In addition, WHO reported that LBP affects the work performance among individuals with LBP and it considered a leading cause of work absence and loss 53.

    Read More

  • Cis 561 Unit 3 Assignment

    481 Words  | 2 Pages

    CIS 561 Homework #2 Hussain Ul Abideen 01617974 Question#1: Solution: State: (a,b) for liters in jugs 1 and 2 Integer 0 to 4 (a,b) : 0<= 7, Operations:- (set1) Shift black tile with blank tile which is next left to black tile, Shift black tile with blank tile which is next right to black tile, Shift white tile with blank tile which is next left to white tile, Shift white tile with blank tile which is next right to white tile, (set2) Shift black tile with blank tile which is one tile next left to black tile, Shift black tile with blank tile which is one tile next right to black tile, Shift white tile with blank tile which is one tile next left to white tile, Shift

    Read More

  • Unit Edc131 Unit 8

    302 Words  | 2 Pages

    Unit EDC131 It was just a typical family day out at the beach like so many other Sunday, after our usual picnic lunch at the beach, everyone went about their own activities. My husband was fishing while our children played in the shallow end of the water. I was reading a novel; but somehow, I simply could not concentrate on my book; which is a rare occurrence for me. It seemed my sensory organs were especially attuned to the surrounding that day.

    Read More

  • Compare And Contrast Gramm-Bliley And Sarbanes-Oxley

    333 Words  | 2 Pages

    Section 401 requires liabilities, obligations etc to be included in these financial reports. Lastly Section 404

    Read More

  • Mat 540 Final Exam Paper

    437 Words  | 2 Pages

    When we visited the Japanese bathhouse, we took our own soap and washcloth. Being prepared for the worst, is one way to escape disappointment. Before reaching college, nearly everyone already knows several facts about logical fallacies. B) Before reaching college, nearly everyone already know several facts about logical fallacies. 2.

    Read More

  • Gac3046 Unit 1 Assignment

    349 Words  | 2 Pages

    COP21 which was held on Nov. 330 th 2015 and lasted two weeks aimed to devise a legally binding agreement to cap global temperature rises to under 2 degrees Celsius, below preindustrial levels. Negotiations and agreements which have been brewing over several years, were finally settled in a time efficient and effective conference, hosting 196 parties which all participated in the agreement to decrease the use of fossil fuels which result in the development of greenhouse gases by 2050. The agreement functions upon the framework that each nation is to establish a conformable and realistic reduction target individually, with no penalty present for countries which fail to abide by their self‐imposed targets. Wealthy developed nations like the United

    Read More

More about Asc 230 Summary

Open Document