This difference between the purchase price paid to acquire a subsidiary, and the fair value of the net assets acquired is called purchased goodwill, or just ‘goodwill’. To calculate goodwill, simply subtract the purchase price from the net assets acquired. Purchased goodwill is an intangible asset, which appears in the consolidated statement of financial position. You might know already that internally generated goodwill cannot appear as an intangible asset in the statement of financial position, so why are we allowed to include purchased goodwill. Well simply, it’s reliably measurable.
Introduction: Fair cost is the cost that is estimated or can be determined by the market while historical cost is related to the cost that is fixed i.e. purchasing cost. Fair cost is the cost on which the assets can be sold or exchanged among the different parties and the liabilities can also be settled with the other parties while the historical cost of an asset is that cost on which that particular asset was purchased. The fair value of an asset can be determined from the current situation of the market because it is the market value of the asset while the historical cost is always fixed; it can’t be changed with the passage of time because the cost during the purchase remains the same. The fair value is determined by using some models rather
BREK-EVEN ANALYSIS Break-even analysis is a powerful management tool. A break-even analysis is a process that use to the determine number of unit that have to sell to recover the capital. In accounting it specifically said that the point where the total cost and total revenue are equal. There will be no gain or loss. It is called as the break-even point.
Passing by reference by contrast involves carrying over the result of the processed variable from the called method into the main method. The main method then resumes but now with the processed variable. You would want to pass by value if you wanted the processing of a variable to confine itself only to the called method. That is, you want the output to localize only and don’t need it to carryover. There is additional functionality in other words to be had with the original variable(s) in the main method.
In the case of a plaintiff or party’s rights, a temporary injunction is not conclusive or deciding. If rights have been harmed, a preliminary injunction can halt progress to prevent further injustice. At the point of a temporary injunction, the court examines the present state and circumstances before continuing into an area that would obstruct the rights of the parties involved. The use of this injunction is generally considered to be appropriate only in extraordinary
The useful life of an intangible asset is the period over which the asset is expected to contribute to the future cash flows of the entity. Intangibles with a fixed useful are amortized. However, intangibles with indefinite useful lives are not amortized but are subject to impairment. Other relevant factors include the legal or contractual provisions, the level of maintenance expenditures required to obtain future cash flows, and the effects of obsolescence. (para 11 SFAS 142) c) Jonas Tech Corp’s suggested treatment of goodwill is unacceptable because the U.S. GAAP requires that goodwill acquired in a business combination is allocated to the reporting unit through which it was obtained.
The most common method of depreciating assets for financial statement purposes (as opposed to the method used for income tax purposes) is the straight-line method. Under this depreciation method, the depreciation for each full year is the same amount. Accelerated depreciation is any method of depreciation used for accounting for income tax purposes that allows greater deductions in the earlier years of the life of an asset. It is important to remember that depreciation is an attempt to match expenses with revenues (matching concept). Accountants try to spread the cost of the asset over the service life of the asset.
KEY ASPECTS OF THE LAW OF CONTRACT Contract – the relationship between the parties An agreement is a lawfully fixed agreement formed by the common consent of the parties. The parties may be known one another, as with a customer and an auditor, or they may be outsiders, as with a software organization and a person who downloads and install the software. In either case, there is an unmistakable relationship between the parties and this relationship is both formed and ruled by the contract. Contract – the nature of the obligation In a contractual relationship, the nature of the obligation is determined by the terms of the agreement. By going into the agreement, the parties approval to acknowledge the result of obligation.
The below conditions are checked for rule generalization: Cond 1: conf(A,B->C) >= p . conf( D,B->C) Cond 2: conf(r′′ : A,B-> D) >= p. There are three cases arise based on the above twoconditions, If both conditions are satisfied for atleast one non redlining rule then there is no need of transformation. If condition1 is not satisfied but condition2 is satisfied by atleast a rule, then minimum data transformationrequired to fulfill the condition 1. If no rule satisfies condition2, rule generalization method is not possible direct rule protection method required to transform the dataset. To enforce the condition1, the above inequality incondition1 is rewritten as, conf(r′ : A, B->C) C to the value less than the righthand side of above equation and confidence of rule D, B->C should not modified.
Under the UCC, the agreement is effective on dispatch. Under the CISG contract is not formed until the offeror receives the acceptance. Also, in contrast to the UCC, the CISG provides that acceptance by performance does not require the offeror notified of the performance. Similarities between UCC &
The resource on this operation in the new route would not be the same as the resource on any of the operations that performed the work. This would be a separate resource that is able to complete the separate operation. The completion of the separate operation would serve as the inspection approval. If there is the need to capture additional information beyond the approver’s name, then a quality plan could be added to this operation to capture that additional detail. Once this additional operation and route are completed, then the approver can Sign-Off the Maintenance Requirement.
Terms which the communications of the parties concur or which are generally put forward in a writing expected by the parties as a last expression of their agreement regarding such terms as are incorporated in that may not be denied by confirmation of any former declaration or of a coexisting oral understanding yet may be clarified or supplemented. (https://www.law.cornell.edu) Additionally, necessities put forward in Section 2-201 must first be fulfilled if the agreement as adjusted is inside of its stipulations. Article II of the Uniform Commercial Code. A case of this segment can be Fairway Mach. Deals Co. v. Mainland Motors Corp., 40 Mich.