Google stock breaks $1,000 barrier Strong third-quarter results have sent Google’s stock past the $1,000 US mark for the first time. Shortly after the markets opened Friday, Google Inc. shares jumped more than 12 per cent to $1,007.40 US in heavy trading before edging back down to $1,000 later in the morning. The Nasdaq-listed stock… Read more »
Posts Tagged: Financial statements
What does an Integrated Report look like?
Integrated Reporting One of the distinguishing features of Integrated Reporting is that in contrast to compliance based reporting, there can be no model report – every report must be built around the unique business model of the preparer. The typical Annual Report: The typical Annual Report includes the Financial Statements, Corporate Responsibility , The Management… Read more »
MD&A (Management Discussion & Analysis)
MD&A (Management Discussion & Analysis) – Counterpart to or Distraction from Financial Reporting Introduction The MD&A is an important component of a company’s reporting obligation. Intended to provide investors with more comprehensive information of financial outcomes, MD&A permits greater opportunity to present both short and long-term analysis. A study published by Contemporary Accounting Research indicated… Read more »
Going concern: When should the watchdog bark?
International accounting standards definition of Going Concern: ‘a going concern … will continue in operation for the foreseeable future … [and] … has neither the intention nor the need to liquidate or curtail materially the scale of its operations’ The purposes of the going concern assessment: To determine whether the financial statements give a true… Read more »
RIM PlayBook sales hurt earnings targets
Inventory Write-Down: Research In Motion Ltd. will write off much of its PlayBook inventory and book a $360-million after-tax charge due to poor sales and discounting of the tablet, a move that will impact the BlackBerry maker’s financial targets. “RIM is committed to the BlackBerry PlayBook and believes the… Read more »
Happiness is owning a small business!
Small business owners in Canada are a happy group, a new survey says. In fact, 62% of Canadian small business owners would describe themselves as “very happy” with only 1% saying they are “very unhappy.” These are just some of the findings from TD’s Small Business Happiness Index, which examined the attitudes and behaviour of… Read more »
New Revenue Recognition Standards on the Way for Contractors
Contractors should be educating themselves on the impact of the new proposed revenue recognition standards and the recently published (June 24, 2010) exposure draft pertaining to revenue from contracts with customers. Public comments are due October 22, 2010, and it is expected the standards will be finalized in 2011. Questions: 1. What are some of… Read more »
Small Discrepancies Grow Into a Giant Fraud
Satyam Computer Services, a leading Indian outsourcing company that served more than a third of the Fortune 500 companies, was at the heart of a huge 2009 fraud perpetrated through the significant inflation of earnings and falsification of accounts and assets for a number of years. Chairman, Ramalinga Raju, resigned in January 2009 after revealing that… Read more »
Research and Development (R & D): Does This Indicate a Crack in the Foundation of IFRS Convergence?
When the IASB and FASB began the convergence process in 2002, they considered R & D as a high-priority project, where differences between US GAAP and IFRS were seen as particularly straightforward. However, as this article notes, still no consensus has been reached because IASB’s R&D treatment appears to defeat comparability in the eyes of… Read more »
Financial Instrument Accounting
On Wednesday, May 26, 2010, the FASB released an exposure draft for the purposes of improving accounting for financial instruments. The new rules, projected to take effect in 2013, incorporate both amortized cost and fair value information about financial instruments held for collection or payment of cash flows. Questions: 1. According to the article, how… Read more »
Burnley Understanding Financial Accounting, 3rd Canadian Edition
Kimmel Financial Accounting, 8th Canadian Edition
Weygandt Accounting Principles, 9th Canadian Edition
Kimmel Survey of Accounting, 2nd Edition
Kieso Intermediate Accounting, 13th Canadian Edition
Weygandt Managerial Accounting, 6th Canadian Edition
Farmer Cost Accounting, 1st Edition
Savage Accounting Information Systems, 1st Edition