Asset Forfeiture Explained: How Governments Seize Property

Asset Forfeiture
Asset forfeiture or asset seizure is a form of confiscation of assets by the state. It typically applies to
the alleged proceeds or instruments of crime. This applies, but is not limited, to terrorist activities,
drug related crimes, and other criminal and even civil offenses. Some jurisdictions specifically use
the term "confiscation" instead of forfeiture. There are two types of forfeiture (confiscation) cases,
criminal and civil. Approximately half of all forfeiture cases practiced today are civil, although
many of those are filed in parallel to a related criminal case. In civil forfeiture cases, the US
Government sues the item of property, not the person; the owner is effectively a third–party
claimant. The burden is on ... Show more content on Helpwriting.net ...
It currently manages around $2.4 billion worth of property. The United States Treasury Department
is responsible for managing and disposing of properties seized by Treasury agencies. The goal of
both programs is to maximize the net return from seized property by selling at auctions and to the
private sector and then using the property and proceeds to repay victims of crime and, if any funds
remain after compensating victims, for law enforcement purposes. The assets that are forfeited for
criminal and civil offenses are used "to put more cops on the street," according to former United
States President George H. W. Bush.] The assets are dispersed among the law enforcement
community for things such as paying the attorneys involved in the forfeiture case, police vehicles,
meth–lab clean up, and other equipment and
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Notes On ' 9 Assets
9 assets are in eviction. These assets average 409 Days in REO and have an average of 293 days in
eviction (the "difference" represents the timeline to obtain the foreclosure deed, ratify or confirm the
sale or allow for the redemption period to expire)
 2 of 9 are in states with extended timelines to ratify or confirm the sale or record the vesting deed
 Of those not in extended timeline states for ratification or recording the vesting deed: o 1 asset in
New Jersey has had numerous delays reported to be related to both the court and the sheriff. Per
Altisource, there are no issues with the firm on this asset and all delays are "uncontrollable" because
of the court or sheriff. This asset has 492 days in REO o Another asset in New Jersey has had
numerous problems during the eviction. It had a lockout set in November 2015, when it was
discovered it was multi–unit. It is unclear why this was not known earlier and while Altisource
indicated this was not identified as 3 units originally, RMS indicated this was identified in October
2015. Many of the required notices prepared by counsel have been faulty and needed to be re–
issued. It is not clear if Altisource or counsel is responsible for all the issues, but this has been an
asset RMS follows up on every 2 or 3 weeks since it has been in eviction. The latest update was
judgment was denied on one unit as the complaint was against unknown occupants and a PI needed
to be hired. On another unit, the eviction is in the

Depreciation And Amortization For Intangible Assets
In accounting the terms depreciation, depletion and amortization often involve the movement of
costs from the balance sheet to the income statement in a systematic and logical manner.
Amortization Expense is an accounting term used as Account Charged for the Amortization or
allocation of Expenses for Prepayments & Intangible Assets. It solely deals with intangible assets
and does not concer tangible assets like land property etc. Intangible Assets include trade names,
trademarks, franchise licenses, patent, copyrights, government licenses, goodwill and other assets
that lack physical substance but provide long–term benefits to the company. Amortization for
Intangible Assets is allocated over the useful life or legal life, whichever is ... Show more content on
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Intangible assets include patents, copyrights, software, contracts, trademarks, trade names, franchise
licenses, government licenses, goodwill, and other items that lack physical substance but provide
longterm benefits to the company.
A trademark is a word, phrase, symbol, and/or design that identifies and distinguishes the source of
the goods of one party from those of others. A service mark is a word, phrase, symbol, and/or design
that identifies and distinguishes the source of a service rather than goods. The term "trademark" is
often used to refer to both trademarks and service marks.
A patent protects an invention and innovations or improvements thereon by providing the inventor
with a set of exclusive rights which prevent others from making, using, offering for sale, or selling
the invention without the consent of the inventor. An idea in itself can not be patented. The idea
must be materialized into an invention, innovative product, device or process that offers new
solutions to a problem in order for the registrant to be able to seek the patent. Patents protect
products in the fields of machinery, manufacturing, composition of matter (a combination of
chemicals), and processes (methods of manufacturing).
Copyrights protect works of authorship and cover: a) works of art (2 or 3 dimensional), b) photos,

Accounting Treatment For Intangible Assets
1.0 Introduction
A few years ago West Ltd acquired all assets and liabilities of Fishy Tale. According to Fishy Tale's
Financial Statement, its intangible assets include the brand development which was valued at
$800,000. However, there have been significant changes to accounting treatment for intangible
assets after Australia adopted International Financial Reporting Standards (IFRS). The aim of this
report is to examine the accounting treatment for Intangible Assets, both prior to, and after the
adoption of IFRS. The differences between the old and new accounting treatment will also be
presented as journal entries. An analysis of changes and subsequent impact on accounting treatment
for internally generated intangible assets is followed by a comparison of the old and new models.
Furthermore, this report will evaluate whether to capitalise or not to capitalise intangible assets for
West Ltd. Finally, the most efficient option will be recommended to the client.
2.0 Accounting treatment for Intangible Assets
Under Australian Accounting Standards Board (AASB) 138, intangible asset is defined as 'an
identifiable non–monetary asset without physical substance' (Australian Accounting Standards
Board, 2010). In recent years many companies in different countries have used several methods to
record intangible assets. However, Tudor and Dragu (2010) firmly believe that different companies
from Europe use the same financial reporting method to record intangible assets. In order to

Fixed Asset Turnover
Inventory turnover ratios are the number of times a business sells and replaces its inventory. The
inventory turnover was four times above industry average, but has since decrease below industry
level for 2013 through 2016.
Fixed Asset Turnover
The fixed Asset shows how well the business is using its fixed assets to produce sales. The fixed
asset turnover started high in 2012 and then started to decrease fast in 2013. As of the last three
years the rate has been constant.
Fixed Charge Coverage
The fixed–charge coverage ratio dealings with a firm's ability to satisfy fixed charges, such as
interest expense and lease expense. Kirkland`s provides creditors with a smaller margin, an elevated
level of risk than the average firm in the industry.

Financial Assets Of A Business Organization
Financial resources constitute one of the types of resources that firms utilize in the production
process. From an economic perspective, they represent the financial assets of a business
organization as they represent the financial funds that it holds (Peng, 2014). Financial resources fall
into three broad categories: business funds that represent cash, cash equivalents, and deposits held
by banks, corporate capital that represent money that a company has invested in its assets and other
financial resources that represent funds that flow from the organization's investments.
Cash and Cash Equivalents Cash and cash equivalents are items found on a balance sheet that
portrays the value of assets of a company that are held in cash or can be ... Show more content on
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The money may be obtained from family, friends, angel investors, or venture capitalists. Businesses
are not obligated to pay back the money as investors hope to get back their investment from future
profits (Barney & Hesterly, 2014). A business that can attract high–profile investors raises its
credibility. Borrowing Capacity Borrowing refers to financing obtained through loans that a
business must pay back over time with interest. Businesses can borrow money on long–term or
short–term basis from government agencies or banks. A company that utilizes debt financing enjoys
a tax advantage as the interest it pays on the loan is tax deductible (Johnson, Scholes, &
Whittington, 2009). Also, borrowing limits future obligations as the lender does not obtain an
ownership share and the repayment runs for a specified period.
VRIO Framework
PEZ Candy Inc.
PEZ Candy Inc. has developed multiple flavors of candy, which are popular among adults and
children. Also, they provide customized branding for a variety of products such as cough drops, fruit
gums, dextrose products, and fizzy candies. The PEZ brand is one of the most recognizable and
popular brands in the confectionery industry; thus, the company also collaborates with businesses
that require advertising in the development of incentives and freebies to raise their profile. The
company has revolutionized the candy industry by making it interactive

Asset Management
CHAPTER ONE THE PROBLEM AND ITS SETTING
1.0 INTRODUCTION Asset management is a concept that companies use to ascertain the value of
their assets. It provides a quick measure of the worthiness of the organization and so becomes easier
for organizations to prepare their final accounts as they are able to quickly estimate the value of their
assets. Well managed organizations are required to perform regular fixed asset audits. Tracking and
managing corporate assets and equipment is a challenge to most organizations especially when there
is a large volume of assets or when those assets move frequently between departments or multiple
branches. However in today‟s regulatory environment, it has become more important than ever for
companies to ... Show more content on Helpwriting.net ...
c. What were the difficulties experienced in using the manual system?
3
d. Did the users have enough skills to operate the system? e. Where and how would the asset
register be kept and updated? 1.6 JUSTIFICATION OF THE STUDY. The proposed study was
recommended as it was of paramount importance to organizations which had accepted and
undertook the information technology era into their businesses to have good and reliable ITAMS.
The previous excel spreadsheets which were used in recording assets were highly prone to errors
and presented a lot of paperwork, which required large storage space, and thus inappropriate and
inefficient for the organization to achieve optimum performance.
The researcher focused on managing IT assets only because past and existing manual systems had
too many loopholes which resulted in the organization losing valuable IT assets due to theft and or
abuse by employees. Unlike other tangible assets of the organization IT assets have a shorter life
span and often switch many hands within a short period of time hence difficult in most cases to trace
their whereabouts.
The proposed study would facilitate quick decision making and also reduce the amount of time
taken in locating computer hardware and software. Under the manual system it took a lot of time in
trying to locate and monitor IT assets in the organization. The study was also meant to reduce
operation costs in the IT department as the organization would now

Asset Liability Management in Banks
5 Asset and Liability Management (ALM)
29. There are different organizational and governance models that guide the management of bank
asset and liability activities. The models reflect fundamentally different risk philosophies that tend
to evolve with the growing sophistication and depth of financial markets together with the position
and activities undertaken by a bank in the market. The terms 'ALM unit' and 'treasury unit', can be
confusing as they are often used by organizations who assign different responsibilities to them – this
will be explained below.
5.1 Key aspects that influence a banks approach
30. The evolution of models is driven by differing philosophies about the role of the treasury or the
ALM unit and banks in ... Show more content on Helpwriting.net ...
Irrespective of the choice made, a bank needs to realise that the right level of skills and resources
need to be committed to support the function. Failure to do this can result in a poorly managed
operation characterised by volatility in; core earnings/margin; economic value, and; unpredictable
economic results.
38. The mismatch position of the balance sheet represents the interest rate and liquidity risk profile
inherent. Assuming a single portfolio without hedges, a large and well diversified bank, with
transactions weighted broadly across all market segments, will find that its balance sheet will
naturally take on countercyclical characteristics as the business environment consolidates through
the economic cycle. This makes sense as the bank is effectively providing customers with solutions
they are demanding as they operate in the external environment. The market itself will also provide
limitations and one of the areas where this can manifest strongly is on the liability side of the
balance sheet. Various techniques are used to examine the mismatch in a bank's balance sheet and it
can be a difficult process if not supported with adequate systems. Depending on systems and
analytical support the ALM process will undertake a number of analysis designed to identify; static
and dynamic

Disadvantages Of Asset Management
Asset Management includes the relating of expenses, opportunities and dangers against the coveted
execution of advantages, to accomplish the authoritative goals. This fitting force should be
considered over diverse time spans.
Asset likewise empowers an association to inspect the requirement for, and execution of, advantages
and Asset frameworks at different levels. Also, it empower the use of logical methodologies towards
dealing with a benefit over the diverse phases of its life cycle.
Asset Management is the talent and order of creation the right choices and advancing the
conveyance of worth. A surely understood target is to streamline the entire life expense of benefits
however there may be other conclusive components, for example, danger or business progression to
be considered equitably in this choice making.
Asset Management is not simply concerning upkeep. Upkeep is a piece of the stewardship of
advantages, additionally is ... Show more content on Helpwriting.net ...
Condense the wealth costs of investing in the asset base get better operating presentation of their
assets (condense failure rates, increase availability, etc.). Condense the potential health impacts of
operating the assets Condense the safety risks of operating the assets. Minimize the environmental
impact of operating the assets Maintain and improve the reputation of the organization Improve the
regulatory performance of the organization Condense legal risks associated with operating assets
The key to good Asset Management is that it optimizes these benefits. That means that asset
management takes all of the above into account and determines the best blend of activity to achieve
the best balance for all of the above for the benefit of the organization. Asset Management is
explicitly focused on helping organizations to achieve their defined objectives and to determine the
optimal blend of activities based on these

Theoretical Perspectives On Asset Price Bubbles
Asset prices are a key determinant of economic activity, impacting both consumption and private
investment. Consequently, fluctuations in asset prices, especially the bursting of bubbles, can have
significant adverse effects on the aggregate economy. This was most recently demonstrated by the
bursting of the US sub–prime mortgage bubble and the ensuing financial crisis. Furthermore, asset
prices in Australia have recently been in the spotlight, as there are concerns about a potential real–
estate bubble developing in some metropolitan centres. This paper will outline the theoretical
perspectives on asset price bubbles and explain historic examples. The insights from this analysis
can be applied to analyse whether a bubble is developing in ... Show more content on
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However, these theories only apply to assets with infinite lives (land and shares), as investors know
that assets with finite terms will be redeemed for a specified value at maturity and this limits their
secondary market price. According to Froot and Obstfeld, bubbles result from investors incorrectly
estimating fundamentals. For example, shareholders may be unable to forecast industry changes that
affect future profitability and are forced to condition expectations of future cash–flows on current
payments. This 'intrinsic rational bubble' theory explains several empirical observations, including
why share prices over–react to dividend changes.
New Rational Models and Misaligned Incentives
These models emphasise the role of incentives in promoting bubbles. Key insights from these
studies are that bubbles may be propagated by herding behaviour among financial intermediaries,
distortions in the data distributed by information agencies and limited liability.
According to Lamont and Frazzoni, investors tend to allocate funds towards intermediaries investing
in high sentiment markets, thereby forcing managers to perpetuate bubbles. This behaviour was a
significant contributor to the dotcom bubble observed between 1997 and 2000. It has also been
highlighted that the reputation of a financial intermediary is correlated with the performance of

The Influence Of Assets On Market Values
Very few firms in our sample are non–patenting firms (45). Incorporating this group of firms in our
analysis does not change the coefficients significantly (column 3); we continue to observe a
significant impact of different intangible assets on the market value of firms. The regression results
in column (4) of Table 2 indicate that R&D intensity displays diminishing returns: as firms get older,
they get less value out of their R&D investments. The interaction term (RDS/Assets * Age) is
negative and significant at the 5% significance level. The addition of this interaction term improves
the fit of the model, which now explains 28% of the variation in Tobin's Q. The results remain
consistent when we include firms that are headquartered ... Show more content on Helpwriting.net
...
The r–squared of this model is 0.283. The coefficients for the different control variables have the
expected sign. For example, in all specifications of the model (columns 2–6), the size of the firm
(measured through the number of employees) has a negative impact on its market value. This result
is statistically significant only in variant (5) and (6) of the model however, and is consistent with the
findings of Gleason and Klock (2006) who note that firm "size is likely to be inversely related to
expected growth opportunities" (p. 308). The coefficient on firm age is not statistically significant at
conventional levels. Lastly, the coefficient on the binary variable that identifies patenting firms is
positive and statistically significant, confirming the importance of patents for the firms in our
sample. These results are also economically significant. Following the work of Hall et al. (2005), we
use the estimates of model (1) and (2) from Table 2 to compute the quantitative impact of each
intangible on market value. Table 3 reports the results. Using model (2) estimates evaluated at the
mean, we can state that an increase of one percentage point in the ratio of R&D to assets, increases
market value by about 0.05%. An extra patent per million dollars of R&D increases

Aspects Of Assets And Their Importance
This paper attempts to explain aspects about assets and their importance in accounting to report
accurate information about the company. Assets give an indication as to the strength of the business,
its ability to generate income, the capability to produce a profit and the means it has to pay its debt.
Creditors and shareholders have a vested interest in making sure their notes will be paid, or profits
will be generated.
Assets – Current and Non–Current
Introduction
Throughout all business, there is a basic accounting equation that is used to account for what a
company owns and what it owes. This equation allows the business to report what the business
looks like in financial terms. Businesses exist to provide a service or product to the consumer;
however, it must account for how it accomplishes this task. Keeping accurate accounting report
policies in place to help provide transparency to creditors who may have a vested interest in the
business. The basic accounting equation is "Assets = Liabilities + Stockholders' Equity (Weygandt,
Kimmel, Kieso, 2007. p. 14)".
Assets are resources. Liabilities are the claims by creditors, and any remaining balance is what is
owed to the stockholder of the business. This equation is represented on the financial statement
known as the balance sheet. Companies also produce financial reports which help identify the flow
of resources over time. Financial reports include "income statements, retained earnings statements,
and the

Goodwill Is An Intangible Asset
Goodwill is an intangible asset recorded on the balance sheet when one business acquires another
business and when the purchase price, or carrying value, is greater than the fair market value. It
includes the reputation, brand, geographic location, patents, employee commitments, and etc of the
acquired company. Goodwill is calculated by deducting the carrying value from the fair market
value of identifiable assets and liabilities. According to the FASB Accounting Standards
Codification (ASB), which is the authoritative source for GAAP, if fair value is less than the
carrying value, net identifiable assets, then there may be a potential impairment loss. (FASB ASC
350, 2013). Net identifiable assets typically include a summation of ... Show more content on
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Finally, the standard also indicates that the component should be combined and treated as a single
reporting unit in limited circumstances.
It is crucial to ensure that the reporting units are identified properly because testing impairment at
the reporting unit level, versus testing another level, could result in dramatically different
conclusions. For example, goodwill that does not appear to be impaired at the consolidated level,
perhaps due to the strong performance of some segments, may offset the deteriorating performance
of others. However, goodwill rose from the acquisition upon the poor performing segments, so
testing that goodwill for impairment at the segment level might result in an entirely different
conclusion.
ASC 350–20 specifically indicates that the impairment test should be performed on an annual basis.
Importantly, the entity has the option of selecting the date in which they want to perform the test,
which doesn't have to be in its fiscal year end. But once the date is selected, the test should be
performed at the same day in subsequent periods to avoid bottlenecks. In addition to performing the
test on an annual basis, the test should be performed when every balanced circumstance indicates
that the fair value of goodwill is less than its carrying value (FASB ASC 350, 2013). Finally, entities
often perform impairment tests and have different assets with the same

Should Employees Be Characterised as Human Assets?
Position Paper
"Should employees be characterized as human assets?"
Arthur Lok Jack GSB
Student Name: Mahalia Jackson
Student ID No.: 98708970
HRNM 6310: HR Management Information Systems
2012/2013 Trimester II
Feb. 2013
(Dilbert by Scott Adams 1995)
Introduction
"Our employees are our greatest asset", is one of the statements that are commonly made by CEOs
in organizations almost on a daily basis. Of course this is a true statement, as it is only through
people, employees, can the strategic plans of organizations be successfully accomplished. However,
do people count as "assets" in the true sense of the word? According to investopedia.com an asset is
"...a resource with economic value that an individual, corporation ... Show more content on
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These strategies would ensure that employees are retained long enough so that the new knowledge
gained from training and development is passed on to others in the organization, and therefore
become "owned knowledge" by the organization.
Counter Arguments
There is also the belief that employees and assets are quite different on many levels such as the
following:–
* Mobility – assets such as plant, machinery and land do not leave organizations, but people do for
various reasons such as resignation, retirement, death; * Ownership – organizations do not own their
employees as they do their physical assets; * Creation – physical assets do not create, people do,
with their knowledge, skills, new ideas, talents and abilities * Value – over time physical assets are
devalued or depreciated as a result of wear and tear, and improved technology, however, with
organizations investing in training and development of its employees, there is an increase in the
value and contribution of employees over time.

* Financial Accounting – physical assets are recorded on financial statements as assets whereas
employees' salaries and other benefits such as pensions are recorded as expenses or liabilities. This
is so because in order for an asset investment to appear on a balance sheet one of the criteria that it
must meet is that the company must

Asset-Liability Management
Asset–Liability Management
"Asset–Liability Management (ALM) can be defined as the ongoing process of formulating,
implementing, monitoring and revising strategies related to assets and liabilities to achieve an
organization 's financial objectives, given the organization 's risk tolerances and other constraints"
[1]. ALM also is known as balance sheet management. In banking activity the gap between assets
and liabilities can bring some consequences where the following risks are arose. And as a whole it
influences badly on the bank's functioning. Solving that problem is the primary goal of ALM. The
good balance sheet management means that the return on loans and securities as the highest as
possible, risks are minimized and ... Show more content on Helpwriting.net ...
Also it is involved in structuring the transaction. At the same time the underwriter provides
consultations in marketing and law.
Benefits and drawbacks of asset securitization
Before asset securitization was created, banks lent money to households and companies and these
loans existed in the banks' balance sheets until they mature or are paid off. This creates a
mismatching of assets and liabilities because typically banks use deposits and issuance of debts as a
provision of loans. And both of them have shorter period of maturity then banks' lending especially
cars and mortgages loans. Since the bank started to use securities backed by assets or in other words
it started to transfer the ownership of the assets to SPVs, the great opportunities have began widely
available for the bank. And the main of that fee income and additional trading opportunities are
providing. Securitization is the process of transforming illiquid assts into marketable securities. This
helps banks to maintain or even increase their liquidity because long–term loans are replaced to
SPVs. As a consequence, the gap between balance sheet sides also is diminished. And as a result the
position of the bank becomes more stable and it frees up capital to provide new loans. In other
words, the opportunity for bank to lend additional funds to the consumers appears. Moreover,
securitization provides quick access to funds that

Asset and Builders Square
Kmart Inc. and Builders Square Case
1. What happens if Kmart 's managers decide NOT to accept the Leonard Green offer?
If Kmarts managers decide not to accept the offer they become limited in their options:
● They can continue to wait for a better bid, but they have struggled to get any one interested in
their company as it is. If they decide to turn down Green, but end up not securing another buyer,
they would be forced to return to Green who could offer a much lower bid because Kmart would
now be left out of options.
● It was also projected that Builders Square only had enough cash and working capital to continue
its operations for one more year without any other changes. So their other option is to try and ...
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As a result of Kmart guaranteeing its subsidiaries leases, the value of this merger depends not only
on the cash received, but also the credit worthiness and skill of the buyer. If the newly merged
company fails, Kmart would be in a much worse position to pay off the debt then if they had just ran
a nonprofitable Builders Square.
5. Leonard Green has put together some projections on the Builders Square/Hech combo. Assess
those projections in light of your industry analysis.
● According to exhibit 1 the Home Improvement market has been growing at a steady pace of about
3.5% for the past 5 years. A lot of this growth steams from the do it yourself consumer market which
is the primary target for the Builders Square and Hechinger Co. merger. Although Home Depot and
Lowe 's dominate the bulk of the home improvement market, only 6% of Home Depot's sales come
from building materials and related products compared to the combined 3.4% for Builder's Square
and Hechinger Co. As seen in exhibit 10, the Combined Projections for Proposed Builders Square –
Hechinger Merger, Green projects an increased gross profit margin as well as EBITDA assuming a
2% growth rate for the combined firm. Their profits do struggle in the beginning due to an
increasing amount of revenues lost to competitors along with their high count of closing stores.
After year 3 the effects of competitor openings and store closings levels off with only a 1% change
simulating what appears to be the end

Balance Sheet and Assets B. Liabilities
Final Exam
1. During a recession, unemployment ________ while inflation
A. falls; falls. B. rises; falls. C. rises; rises. D. falls; rises.
2. Student A says that customer satisfaction is a mark of a world–class business. Student B says that
proactive ethics is a mark of a world–class business. Which student is correct?
A. Both B. Student A only C. Neither D. Student B only
3. Which of the following represents the basic accounting equation? A. Owners ' Equity − Liabilities
= Assets B. Liabilities = Assets + Owners ' Equity C. Assets = Liabilities + Owners ' Equity D.
Assets + Liabilities = Owners ' Equity 4. Nearly a week before Hurricane Katrina reached New
Orleans, Wal–Mart began moving trucks and supplies into position, as ... Show more content on
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Omar is paid a A. bonus. B. salary. C. commission. D. wage.
20. Efficiency means producing _______ using the least amount of A. goods; resources. B. human
resources; time. C. capital; natural items. D. entrepreneurship; people. 21. The curve that shows the
relationship between different prices and the quantity requested at each price is the ________ curve.
A. demand B. buying C. supply D. equilibrium
22. The method of determining the minimum sales volume needed at a certain price level to cover
all costs is A. breakeven analysis. B. equilibrium pricing. C. market share analysis. D. return on
sales. 23. Student A says that if you 're going to prepare alternative course of action, you need to do
strategic planning. Student B says that if you 're going to prepare alternative courses of action, you
need to do contingency planning. Which student is correct? A. Student A only B. Student B only C.
Both D. Neither
24. Price auctions on eBay are an example of A. e–business. B. communication. C. entertainment.
D. information.
25. The salesperson 's task of identifying potential customers is known as A. prospecting. B.
selection. C. follow–up. D. demonstration.
26. Ida works on creating ways to ensure that customers receive goods at the right time and correct
location. Ida is involved in her firm 's ________ strategy. A. transportation B. promotion C. product
D. pricing 27. If you want to turn self–directed gain into social and economic benefits for all, you
should

Case Study : An Asset Arrangement
The assets of an association comprise of individuals, materials, and gear. Associations regularly
have constrained assets; consequently, exchange offs on what venture assets are exhausted and when
are made each day inside associations. An asset assignment arrangement is an imperative device in
compelling administration of rare assets. The planning of the need of those assets can be and ought
to be resolved inside the venture plans. An asset arrangement, which depicts the kind of asset
required and the planning of that need, is basic to compelling asset administration. As the
undertaking plan changes, the asset arrangement should likewise be sufficiently adaptable to
conform as these progressions happen. ... Show more content on Helpwriting.net ...
Time is a basic asset for any undertaking. Venture supervisors who succeed in meeting their task
plan have a decent risk of staying inside their undertaking spending plan. To empower time
administration, the distinctive venture exercises should be point by point and organized.
Arrangement of a booking issue:
The majority of the booking strategies accessible today require the venture supervisor to group the
task as either time compelled or asset obliged.
Time Constrained Project: is one that must be finished by a forced date. On the off chance that
required, assets can be added to guarantee the undertaking is finished by a particular date.
Asset Constrained Project: is one that accept the level of assets accessible can 't be surpassed. On
the off chance that the assets are insufficient, it might be adequate to defer the task.
Resource allocation methods:
1. Assumptions
First, part exercises can 't be permitted. Once a movement is set on the timetable, expect that it will
be taken a shot at consistently until wrapped up. Second, the level of assets utilized for a movement
can 't be changed. On the off chance that two individuals are required to finish an action, keep both
on the movement.
2. Time obliged ventures: smoothing asset request
Booking time obliged ventures concentrates on asset use. At the point when the interest for a
particular asset is whimsical, it is hard to oversee, and usage

The Measurement Of Identifiable Assets
Question A – Measuring Identifiable Assets
There are two topics that relate to the measurement of identifiable assets. The first is the "day one"
measurement. In regard to initial measurement, as per FASB Accounting Standards Codification
(ASC) topic 805–20–30–1, "The acquirer shall measure the identifiable assets acquired, the
liabilities assumed, and any noncontrolling interest in the acquire at their acquisition–date fair
values." The two important concepts in this guidance are that first the value must be as of the
acquisition date and secondly that fair market value is used. It does not matter what is on the
investee's books. What is fair market value? As per ASC 820–10–20 it is, "The price that would be
received to sell an ... Show more content on Helpwriting.net ...
Often there are assets that do not appear on the balance sheet of the investee; however as per initial
measurement guidance all identifiable assets must be measured. According to ASC 805–20–25–10
"An intangible asset is identifiable if it meets either the separability criterion or the contractual–legal
criterion described in the definition of identifiable." This means that if an asset is separable from the
entity or arises due to contractual rights, even if it lacks physical substance, it must be recognized at
fair market value. Often the value of the entity cannot be seen on a balance sheet and it is important
to realize that even if an asset is not in the acquired entities financials but it holds value, there is a
distinct possibility that it will meet the separability criterion and thus must be valued at fair market
value as of the acquisition date.
Additionally, ASC 805–20–30–4 states that a separate valuation allowance should not be recognized
for accounts receivable as the parent is recording fair market value, which already takes into
consideration an allowance for uncollectable accounts.
There are some exceptions to the above rules and relate to

Accounting For Asset Retirement Obligation
In the past it was noted that companies reported the asset retirement obligation through taking into
account a variety of liabilities. The asset retirement obligation was set up so as to come up a
harmonious procedure would be implemented so as to overcome the problem of retiring the long–
term asset. Companies should recognize liabilities for the asset retirement obligation during the time
when an obligation is incurred and when there is reasonable estimate that a fair value will be made
for an asset as per the Statement of Financial Accounting Standards (SFAS) N.O 143.
There are different kinds of approaches that are followed when recognizing the asset retirement
obligation, these include: recognition of the asset retirement obligation ... Show more content on
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The amounts of assets and liabilities under the SFAB 143 are recorded each year as accretion and
depreciation expenses the capitalized asset retirement would be allocated in a rational and
systematic manner while the depreciation expense would be recorded over the estimated useful life
of the asset (Guinn, Schroeder, and Sevi, 2005)Depreciation would be calculated through increasing
the asset base by dividing using the assets useful life which is adopted by Statements of the
Financial Accounting Standards (SFAS) 143 .The accretion expense is calculated through
multiplying the balance of recorded liability while using the company's credit–adjusted discount rate
that occurs each year that is also referred to as amortization of the present value discount that is
associated with the asset retirement obligation.
b). The period and amount that Black Gold (BG )would account for the decrease that is related to
$50,000 downward adjustment recorded to asset retirement obligation in its income
statementAccording to SFAS 143 the present value of asset

Acquisition of Non-Current Assets and Entities
A CC T1 0 0 6
CASE STUDY: TOPIC 4 – SOLUTION
FINANCIAL ACCOUNTING 1
COURSE COORDINATORS: CHEE FEI CHANG PREPARED BY: SCOTT COPELAND
FA 1 – PHUONG CASE STUDY: TOPIC 4 SOLUTION
CASE STUDY 4 – ACQUISITION OF NON–CURRENT ASSETS AND ENTITIES
At the end of his adventures in ADA Phuong had decided to purchase a new Standard Diesel
Delivery Van. Phuong conservatively estimates the delivery van should provide him benefits for at
least the next 5 years at which time he should be able to receive a trade in of $2,000 on an upgraded
van. As noted in topic 1 the delivery van was purchased on June 25. The relevant entry Phuong
made was June 25 Delivery Van GST Outlays Cash 22,000 2,200 24,200
Following your discussion on Topic 2 and ... Show more content on Helpwriting.net ...
The family have a wealth of experience in the development of sauces and Phuong is hoping he can
convince the continue working in the business once they are relieved of the pressures of ownership.
Phuong will also benefit from making contact with a number of new clients who currently use the
trade with the firm. Sauces Galore as at 30/6/06 Cost Accum Carrying Amt Deprec. 11,000 8,000
30,000 30,000 28,000 17,150 10,850 60,000 23,437.50 36,562.50 23,000 4,500 18,500 152,000
103,912.50
Item Accounts Receivable Land Buildings Cooking Equipment Bottling Equipment Total
Fair Value 9,000 90,000 6,000 40,000 15,000 160,000
3
Required 4. Prepare the General Journal entry to record the purchase of this business assuming

Phuong is able to make an offer of $140,000. Make sure you show all relevant calculations. 5.
Discuss if you believe Phuong has received a good deal if his offer of $130,000 is accepted and why
Phuong would be willing to pay the company more than the carrying amount of assets in question.
6. Discuss how your entries would have changed for part 2 if Phuong had paid $110,000 for the
various assets he wishes to acquire in order to make sure his was the highest bidder.
4
Phuong's Fantastic Food – General Journal
DATE

What Is The Assets Of A Company?
Assets: Gross plant and equipment ($5,000,000), inventories ($200,000), net accounts receivable
($550,000), and cash ($310,000) = $6,060,000
Liabilities: Accounts payable ($230,000), other current liabilities ($80,000), accrued expenses
($90,000), accumulated depreciation ($110,000), and long–term debt ($4,000,000) = $4,510,000
Equity: is the difference between assets and liabilities (Lumen, n.d.). It is the capital/net worth of the
company, the monies left over after the assets are sold and the liabilities are resolved, the take–away
(U.S. Securities, 2007).
Assets ($6,060,000) – Liabilities ($4,510,000) = Equity ($1,550,000)
Or
Assets ($6,060,000) = Liabilities ($4,510,000) + Equity ($1,550,000)
From the information provided in Table 2 ... Show more content on Helpwriting.net ...
Securities, 2007). A review of the balance sheet will outline money that is coming in and going out.
A balance sheet specifically shows what a company owns and owes at a particular time, it shows a
company's net worth. It is a detailed record of the assets, liabilities, and equity of a company
(Cleverley, Song, & Cleverley, 2011). Accordingly, a standard balance sheet also includes the dollar
amounts of the assets, liabilities, and equity (Lumen, n.d.). Assets are valuable items owned by the
company; items that have value and could bring value to the company by being used, sold, or
provide a profitable service (U.S. Securities, 2007). The values of the company's assets are not equal
to the dollars that could be obtained if sold since the values on the balance sheet are historical and/or
acquisition cost (Cleverley, Song, & Cleverley, 2011). Some examples of company assets could be
buildings/offices, vehicles, inventory, cash, investments, and even trademarks, all of which give a
certain value to the company (U.S. Securities, 2007). Liabilities are goods, services, or money that is
owed by the company. The liabilities of a company are risks that are managed properly to achieve
stability (Singh, 2014). Unlike asset values on a balance sheet, values for the company's liabilities
are more approximate or literal amounts (Cleverley, Song, & Cleverley, 2011). Some examples of
company liabilities are obligations that involve actions such as

Accounting Deferred Tax Asset
According to the accounting practice in business, companies will always be levied by the federal
through the income tax payable that will become the company's income tax expense when it is paid.
The tax net includes the personal profit, business income, and the capital gain. Referring to
Australian Accounting Standard Board (AASB) 112, the income tax expense (income) is not merely
equal to current tax liability (asset), but also the function of the deferred tax liabilities and assets
(Leo, Hoggett, & Sweeting, 2012). The tax which incurred to a company will depend on the
company's performance. If the company gets a positive taxable income, then the company has to pay
30% of it to the federal. However, if a company suffers a tax loss, ... Show more content on
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Referring to AASB 112 paragraph 34, "a deferred tax asset should be recognised for the
carryforward of unused tax losses and unused tax credits to the extent that it is probable that future
taxable profit will be available against which the unused tax losses and used tax credits can be
utilised." If an entity has unused tax losses from the previous year, then it would be carried–forward.
Recognising deferred tax asset (DTA) might be the most complex and subjective area of Financial
Accounting Standards Board Statement paragraph 109, Accounting for Income Taxes (Petree, 1995).
In this case, several companies do not want to recognize the deferred tax asset in the balance sheet.
Assume that a company has suffered tax losses for two or more consecutive years, it means that the
company performs badly and the probability of having profit in the future period is very low. In
order to use the tax losses, a company should earn profit in the next financial year. "Unless there are
strong reasonable grounds to believe that 'it is probable that future taxable profit will be available',
such as: entering an agreement with customers for next 12 month orders, the company should not
recognise the DTA, based on ground of prudence" (Kauditor, 2007). Moreover, one could disclosed
unused tax losses or in the form of notes to financial statement, as an information to financial
statements users. An entity shall recognise a deferred tax asset and operating loss and tax

Intangible Assets : Intangible Asset
What is intangible asset
Companies always have different kinds of assets, such as buildings and machines, but they also have
some other assets like brand names, research and development, copyrights or patents. These assets
contain three essential characteristics: they are assets, they lack physical substance and they are
identifiable non–monetary. This kind of asset is called intangible asset. It can be recognized if it can
meet these four criteria: it is separately identifiable, controlled by the enterprise, the expected future
economic benefits will flow to the entity and the cost of the assets can be measured reliably. The fair
value and validity of the intangible assets and the supply and demand in intangible assets market
must be ... Show more content on Helpwriting.net ...
In addition, the difference in the process of creating value between intangible assets and tangible
assets are vague. There is interaction between intangible and tangible assets, which make it difficult
to measure accurately to what extent the benefits is made by intangible assets. For example, if a
company spends money training its staff, the object is to improve future benefits. However, the
improvement is uncertain because the staff may not learn very well or the ability they learn cannot
help the company making profit. What is worse, the staff may leave in the future but the company
had spent money on training. Similarly, advertising is done for sales but the long–term effect is
always uncertain.
Secondly, the useful life of an intangible asset can be finite and indefinite. The useful life of
intangible assets is often associated with the future expected cash flow of the assets. According to
IAS 38, an intangible asset usually be regard as having an indefinite useful life. However,
nowadays, as the science and technology is becoming developed, the time of replace an intangible
asset becoming shorter, the emergence of the substitutes pose a threat on this intangible asset and
there is no doubt that this intangible asset will depreciate rapidly. According to the annual report and
financial statements of M&S, "definite life intangibles are amortised on a straight–line basis over
their estimated useful lives. Indefinite life

Intangible Asset
Assets 2 (Intangible Assets) Based on Week 4 Due Week 5 (due 25th March) NOTE: Provide
references for your answers and quote where you have written something that is word–for–word
from a source Textbook Questions (15 marks): Challenging Question 29 (5 marks) Inglis Ltd has a
number of taxi licences that are shown in the financial statements at cost. Can these licences be
revalued to fair value and, if so, do they also need to be subject to periodic amortisation? Yes, if
these taxi licenses are freely transferable, they can be revalued to fair value. The requirements of
AASB 138 state that intangible assets may be revalued only if there is an 'active market'. Most of
intangible assets will not be able to be revalued as there is no ... Show more content on
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I need find out the what is intangible assets, the presentation of Financial Statement and the
RESEARCH and EVALUATE (500 words maximum) Gather relevant facts and evidence, sort all
evidence, identify themes or issues, develop a data scaffold AND Sort all evidence and weigh it up
to start building a picture of what your Answer might be ANSWER (50 words maximum) Your
opinion of the themes or issues you have identified, justified by the evidence you have gathered and
evaluated Total marks for Week 5 Tutorial work: 25 (will be scaled back to 5% if marked) Critical
Thinking Questions Assessment Criteria | | Question 1 | Identify the requirements of both AASB 138
and the AASB Framework in relation to accounting for brands | | | High distinction (4.5 – 5 marks) |
Distinction (4 marks) | Credit (3 – 3.5 marks) | Pass (2.5 marks) | Unsatisfactory ( 1 – 2marks) |
Mark | | The answer thoroughly and accurately portrays the accounting treatment of internally
generated intangible assets, referring appropriately to the media article, AASB 138 and the AASB
Framework. | The answer provides a good amount of correct information about the accounting
treatment of internally generated intangible assets, making some reference to the media article,
AASB 138 and the AASB Framework. | The answer provides some correct information about the
accounting treatment of internally

The For The Assets Of Stock Material And Leasehold Essay
The inclusion of the assets of stock material and leasehold have to be added Clause 1, that describes
Assets, or could be added to an attached Schedule that describes all the assets that are to be
transferred to the Buyer.
Clause 2.1 has to be amended to include further sub–clauses that reflect the addition of all the
Assets. Clause 3 has to be also amended to mention the addition of each Asset and the apportioned
amount of that Asset.
Stock of Raw Materials Salmon would want to limit the amount of stock of raw material it is
obliged to purchase. This is to ensure that Heating does not reduce stock to a level that would make
it hard for Salmon to meet order. It is also important for the parties to agree a valuation method for
the stocks that will be transferred.
Salmon will want to seek warranties from Heating in regard to satisfactory quality, and that the
stock items are not obsolete or unmarketable. Salmon would also want to protect itself from any
omissions in the assets that would be needed to carry on their business and thus should choose to
include a clause stating that all equipment used in the business are to be transferred. The amendment
should allow Salmon to bring claims against Heating for any disputes arising from the stock's
valuation.
The implications of the amendments, allow for additional Assets to be transferred to Salmon.
Salmon would have to pay a greater amount of consideration. Due to the warranties being sought, a
breach of warranties,

Harvey Norman Intangible Assets
TABLE OF CONTENTS
Abstract 2
Introduction 2
Business description and main activities 3
Harvey Norman Resources 5 Tangible Resources 5 Profit from continuing and discontinued
operations 6 Profit from property 6 Sales at franchises 7 Sales at company–owned stores 8
Intangible Resources 8 Computer software and licence property 8 Goodwill 9
Harvey Norman Invisible Balance Sheet 10 Internal Capital 11 External Capital 13 Individual
Competence 14
Recommendations 15
Conclusion 17
Appendix 19 Appendix 1 19
References 20
Abstract
Harvey Norman is one of the biggest consumer electronic retailer in Australia (D Richard, 2010),
well–known for its recognisable brand name and local community involvement, Harvey ... Show
more content on Helpwriting.net ...
Within its franchising system, the company provides retailing strategy and marketing techniques in
turn for receiving the franchisees fees that are based on sales. Harvey Norman is said to be 'part
retailer, part property–trust' as the company property holdings account for nearly 50 percent of its
total assets (Money manager, 2008). These assets also produce main source of income for the
company including regular rental income from the franchisees, and also acting as an investment
income where it can successfully develop properties from vacant land to retail complexes. The
major benefits of this integrated model enable Harvey Norman to lower the cost of debt financing by
securitizing a portion of income–producing property portfolio. This would free up capital and helps
to boost returns.
In terms of the history development of Harvey Norman, appendix 1 illustrates the important
evolvements. It has been one of the dominant leaders of Australian retail industry since 1970s.
Based on the business performance of last few decades, Harvey Norman has shown a rapid growth
compare to its competitors.
Harvey Norman Resources

Tangible Resources
According to the company's profile, Harvey Norman Holdings Ltd is one of leading retail chains in
Australia, which has franchisors, company–owned stores and properties across the world (Australia,
New Zealand,

Goodwill Is An Intangible Asset
Goodwill is an asset that is an intangible asset. Goodwill represents the future economic benefits
that arise from acquiring assets during a business amalgamation. A goodwill reflects the difference
between the purchase price and the fair value of acquiring a company's assets or a business merger.
According to the generally accepted Accounting Principle goodwill is not amortized. Therefore, on
the balance sheet there would not be an accumulated goodwill amortization. Impairment on a
goodwill is tested annually or whenever issues arise. Note, if an impairment has occur the amount
will be written down as an increase to the goodwill valuation account.
Goodwill is an intangible asset that is recognizable by it nonmonetary asset. Goodwill has no
physical material or matter. Intangible asset are said to be either divisible or comes from contractual
or other form of legal rights, which has the authority to gain future economic benefits.
Although the procedures in this process can be difficult and is subjected to a great degree of
interpretation. Even though the calculation that is required can be subjected to a guess. The new
proposed treatment has been tackling with the problem of ambiguity and subjectivity aiming at the
financial report preparers and auditors who will have some major implication regarding corporate
governance and auditing.
Goodwill, in the law and accounting, an intangible asset established a value over and above the
valuation of the tangible assets of the

Public Heritage Assets
Accounting for public heritage facilities – assets or liabilities of the government? The Authors Allan
D. Barton, Department of Commerce, Faculty of Economics and Commerce, Australian National
University, Canberra, Australia Acknowledgements The author wishes to thank three anonymous
referees for their constructive comments on earlier drafts of the paper. Abstract Public heritage
facilities – national parks, art galleries, museums and so on – are now required by professional
accounting standards in Australia to be valued and included in government general purpose financial
statements as assets. This study challenges the appropriateness of such an accounting treatment in
relation to the SAC4 definition of assets and the ... Show more content on Helpwriting.net ...
The nature and functions of public heritage facilities as part of Australia's National Estate are first
explained. Next, because of their nature and functions, it is shown why public heritage facilities are
public goods. The economic theory of public goods is used to justify why some goods should be
provided by governments and funded from taxation and others on a commercial basis by business
firms. The theory is based on the existence of certain types of externalities in markets. Whether
public heritage facilities are assets or liabilities and a part of the government's financial position is
assessed against the SAC4 (1992) concepts of assets and liabilities. It is shown that they do not
satisfy the concepts because of their public goods nature. The proposal is then advanced that public
heritage facilities should be regarded as assets of the nation which are managed by government as a
trustee for the benefit of society; and that, as trust assets, they should be accounted for separately
from administrative assets of government. Finally, the types of information required for their good
management is explained and it is shown that full accrual accounting information designed for
commercial firms is not appropriate for the management of public heritage facilities. II. Nature of
public

Asset and General Fund
Alabama State University
College of Business Administration
ACT 532 Advanced Fund Accounting
Exam III
November 20, 2012
1) Governments must report nonspendable fund balance in a governmental fund 's balance sheet for
A) Inventory.
B) Prepaid assets.
C) Land.
D) All of the above.
E) Items A and B only.
Answer:
2) The following benefits are examples of other postemployment benefits (OPEB) except for
A) Health care insurance.
B) Pension benefits.
C) Vision insurance.
D) Life insurance.
E) All of the above are common examples of OPEB.
Answer:
3) Assume that the Village of Hannah uses the purchases method of inventory accounting. At the end
of the year the inventory levels have increased. What entry would be made to ... Show more content
on Helpwriting.net ...
D) The General Fund would record an expenditure for only the interest portion of the debt service
payment.
E) Both items A and D are false.
F) Both items B and C are false.
Answer:
12) Government A makes pension contributions on behalf of its employees to both a defined benefit
plan and a defined contribution plan. Assume that the employer contributions for the fiscal year
totaled $55,000 for the defined benefit plan and $35,000 for the defined contribution plan. The
General Fund will report

A) Total expenditures of $90,000.
B) Expenditures of $55,000 and transfers out of $35,000.
C) Transfers out of $90,000.
D) Transfers out of $55,000 and expenditures of $35,000.
E) None of the above.
Answer:
13) Assume that a government purchases $85,000 of inventory for the General Fund during the year.
The General Fund began the year with an inventory balance of $15,000 and ended the year with a
balance of $35,000. The General Fund uses the consumption method of inventory accounting and a
perpetual inventory system. The General Fund should report
A) No expenditures for the year as the General Fund uses a perpetual inventory system.
B) Expenditures of $85,000 for the year.
C) Expenditures of $65,000 for the year.
D) Transfers out of $85,000 for the year.
E) Transfers out of $65,000 for the year.
Answer:
14) If a government uses a perpetual inventory system for its General Fund and there is an inventory
overage at the end of the year, the inventory

The Value Of An Intangible Asset
In today's corporate world, we get to see that no longer a company's worth can be measured by
simply looking at its physical resources only. These days, intellectual capital plays a huge role and
we need to account for that, as intangibles have become one of the crucial drivers for the economic
performances of most companies. However measuring the value of an intangible asset with accuracy
and treating it correctly for the preparation of financial statements has been found to be quite
difficult. In fact, one of the most contested areas of accounting lies with the treatment of internally
generated intangibles assets – Research and Development.
In simple words, the basic difference between tangibles and intangibles is that tangibles relates to
those physical assets which can be touched such as machineries whereas intangibles refer to assets
that do not have a physical presence. However in the world of accounting standards, the definition
of intangibles becomes quite precise as IAS 381 defines an intangible asset as 'an identifiable non–
monetary asset without physical substance' – where an asset is identifiable if it is capable of being
separated or divided from the entity and sold, transferred, licensed, rented or exchanged, either
individually or together with a related contract, asset or liability or arises from contractual or other
legal rights, regardless of whether those rights are transferrable or separable from the entity or from
the rights and obligations. Thus

The Case Of High End Assets
Divorces are never pleasant and rarely simple. This is all the more true in cases involving high end
assets. Here we will bring to light some common mistakes made in this situation and offer some tips
for making the process as expedient and hassle–free as possible.
1: Do not make your decisions based on any kind of emotion.
This one may seem somewhat obvious at first, but there are a few pitfalls that one can fall into
without realizing in a high–stress situation such as this. For example, some people involved in a
divorce may simply want it over with, and make decisions and concessions that are not in their best
interests based on that sense of haste. This is not a good idea regardless of the reason, and there are
many, such as an eagerness to be involved with another lover, or more commonly simply distaste for
your spouse. Another common reason is guilt. The party initiating the divorce usually feels a degree
of guilt, which can lead to an inappropriate willingness to make concessions for the purpose of
making things amiable. Another is the exact opposite, revenge. No matter how persuasive these
motivations may be to you, do not make decisions based upon these motivators that will have
negative repercussions upon your financial future.
2: Hire a good lawyer.
Be sure that you have a lawyer that is going to be an asset to you. A good lawyer will help you think
clearly and objectively about the legal ramifications of any decisions that you make. A good lawyer
may be

Audio Assets Definition
What are Assets?
"Assets are sometimes defined as resources or things of value that are owned by a company."
(1) Audio
Audio is sound that is within the acoustic range which is available to humans. An Audio Frequency
(AF) is an electrical alternating current within the 20 to 20,000 hertz (cycles per second) range
which can be used to produce acoustic sound. In computers, audio is the sound system that comes
with or can be added to a computer. An audio card contains a special built–in processor and memory
for processing audio files and sending them to speakers in the computer. Audio files are records of
sound that has been captured and can be played back. Sound is a succession of naturally analog
signals which are converted to digital ... Show more content on Helpwriting.net ...
There is also no compression involved. The digital recording is a close–to–exact representation of
the analog sound. PCM is most commonly used in CD's and DVD's. It has a subtype called Linear
Pulse–Code Modulation, where samples are taken at linear intervals. LCPM is the most common
form of PCM, which is why the two terms are almost interchangeable.
WAV
WAV is also known as Waveform Audio File Format. It was developed by Microsoft and IBM back
in 1991. Lots of people seem to assume that WAV files are uncompressed audio files, but that's not
always true. WAV is actually just a Windows container for audio formats. This means that a WAV
file can contain compressed audio, but it's not usually used for that. A lot of WAV files contain
uncompressed audio in PCM format. The WAV file is just a "wrapper" for the PCM encoding, which
therefore makes it a lot more suitable for use on Windows systems. However, Mac systems can
usually open WAV files without any issues.
AIFF
AIFF stands for Audio Interchange File Format. Alike Microsoft and IBM developed WAV for
Windows; AIFF is a format that was developed by Apple specifically for Mac systems back in 1988.
Also similar to WAV files, AIFF files can also contain multiple kinds of audio. For example, there is
a compressed version called AIFF–C and another version called Apple Loops which is used by

Classification of Assets: Maximus Case Study
The assets listed under current assets are as follows (in order): cash and cash equivalents, restricted
cash, accounts receivable (billed), accounts receivable (unbilled), prepaid income taxes, deferred
income taxes and prepaid expenses. There are no inventories listed, but otherwise these are listed in
the proper order.
The company classifies its assets in a somewhat unusual way. The current assets are broken down
well, including separate line items for billed and unbilled accounts receivable. However, there is no
subtotal for long–term assets, which is unusual. The line items outside of current assets are as one
would expect for long–term assets: property and equipment (net), capitalized software (net),
goodwill, intangible assets (net), deferred contract costs, deferred income taxes, deferred
compensation plan assets and other.
Cash equivalents are money market securities. Typically, these have maturities less than three
months, or are cashable on demand. Such securities can be liquidated so quickly that they are
considered for accounting purposes to be equivalent to cash.
The company's total current liabilities are $163.893 million at the end of the most recent fiscal year
(September 30, 2011).
The company's total current liabilities were $164.688 million at the end of the 2010 fiscal year.
The information contained in financial statements is important for a few different reasons. Potential
creditors need to know what the credit quality of the organization is.

Non Performing Assets
NON PERFORMING ASSETS(NPA)
WHAT IS A NPA (NON PERFORMING ASSET)
Non Performing Asset means an asset or account of borrower, which has been classified by a bank
or financial institution as sub–standard, doubtful or loss asset, in accordance with the directions or
guidelines relating to asset classification issued by RBI.
Non–performing asset (NPA) shell be a loan or an advance where; i. interest and /or installment of
principal remain overdue for a period of more than 90 days in respect of a Term Loan, ii. the account
remains 'out of order' for a period of more than 90 days, inrespect of an overdraft/ cash
Credit(OD/CC), iii. the bill remains overdue for a period of more than 90 days in the case of bills
purchased and ... Show more content on Helpwriting.net ...
6. Deficiencies on the part of banks like delay in release of funds and delay in release of subsidiesby
government.
7. Delay in finalization of rehabilitation package bythe board of Industrial and Reconstruction
(BIFR).
8. Absence of written policies. The absence of portfolio concentration limits, poor industry analysis,
cursory financial analysis of borrowers. 9. Inadequate customers contract .Excessive reliance on
collateral, absence of follow up action by banks, poor control on loan documentation.
10. Absence of asset classification and loan loss provisioning standards and
11. The lack of co–ordination between the financial institutions and commercial banks, which
provide long–term needs of industry that, enables the industry to misuse the funds.
IMPORTANCE OF NPA'S TO BANKS
NPAs reflect the performance of banks. A high level of NPAs suggests high probability of a large
number of credit defaults that affect the profitability and net–worth of banks and also erodes the
value of the asset. The NPA growth involves the necessity of provisions, which reduces the over all
profits and shareholders value.
Impact of NPAs on Banking Operations:
The efficiency of a bank is not reflected only by the size of its balance sheet but also the level of
return on its assets. The NPAs do not generate interest income for banks but at the same time banks
are required to provide provisions for NPAs from their current profits .The NPAs have

Intangible Assets
Research Based Case Study and Report (ACCG224) Cervantes Corporation Ltd. South Perth, WA
Clean Seas Tuna Limited South Australia BY: Jiamei Gu Student ID: 42184169 October 2, 2012
Table of Contents EXECUTIVE SUMMARY 3 INTRODUCTION 4 EVALUATION OF THE
DISCLOSURES OF SELECTED COMPANIES 5 Disclosures on Intangible Assets 5 Compliance
with AASB 138, Paragraphs 118 to 123 and 126 to 128 6 Differences in Disclosures Between the
Two Companies 7 RECOMMENDATIONS 9 LIST OF REFERENCES 10 APPENDICES 11
Appendix A – Cervantes Corporation Ltd. – Consolidated Statement of Financial Position 11
Appendix B – Cervantes Corporation Ltd. – Note 1 (i) 11 Appendix C – Cervantes Corporation Ltd.
– Note 13 12 ... Show more content on Helpwriting.net ...
However, there is difficulty in assigning values to intangible assets because they have no physical
form. Some companies even neglect recognition in their financial statements. In an attempt to
improve the quality and increase the usefulness of financial reports, this research–based case study
aims to review the disclosure requirements for intangible assets. It will be based on the comparison
of the disclosures of Australian Securities Exchange listed companies, namely, Cervantes
Corporation Ltd. and Clean Seas Tuna Limited, both participating in the aquaculture industry. It
involves an evaluation of the companies' Notes to the Financial Statements as of June 30, 2012,
identifying all the disclosures presented to determine consistency with the requirements under
AASB 138, paragraphs 118 to 123 and paragraphs 126 to 128. EVALUATION OF THE
DISCLOSURES OF SELECTED COMPANIES Disclosures on Intangible Assets The Consolidated
Statement of Financial Position as of June 30, 2012 of Cervantes Corporation Ltd. reported
intangible assets of $188,670. Accordingly, Notes to the Financial Statements (Notes 1 (i) and 13)
disclosed the composition, nature, valuation, useful life and provision for impairment of these
assets. These are composed of licenses and leases on

Accounting And Its Effect On The Asset Of The Portfolio
Depreciating assets over their useful lives, rather than just expensing them in the year they are
acquired.
When an asset such as new equipment is purchased by an organization, the seemingly obvious
choice for reporting such an expense would be to record it entirely at the time of its purchase, and
simply record income in the years following. This, however, is not the method used by accountants.
Rather, they use a method of depreciating the asset. This basically means spreading the expense of
the asset of the years of its useful life. This is the required method of accounting, according to the
matching principle. This principle states that to record the entire expense the first year would skew
the results of operations over the asset ... Show more content on Helpwriting.net ...
It is for this reason that the depreciation expense is taken and added to overall net income at the end
of each subsequent year. This method 's use or value may not be apparent at first, but through its
practice we see why this is the standard in regards to this area of financial reporting. Since the goal
is to give the fairest representation of the financial position, at times adjustments such as these must
be made.
What equation describes the periodic inventory system?
In a periodic inventory system, on hand items are tracked from time to time rather than
continuously. This requires the company using the system to obtain a physical count at any time they
must record the inventory. The equation used in this system takes the balance of the beginning
inventory, plus all purchased items, and subtracting the ending balance. This formula determines the
amount of inventory that was sold or used since the previous count was taken. For example, if a
store hand a beginning inventory of 1,000 units, purchased an additional 4,000 units, and had an
ending balance of 2,000 units, they have determined that 3,000 units were sold. The limitations of
this system are that the company does not continuously know how many items are on hand, as well
as the inability to know that one of the missing units was sold and not stolen, damaged, etc. This
limits the company 's abilities in ordering additional stock due to low

Assessing The Population Of 11 Assets
Listed or Pending Contract Assets
Lastly, when reviewing the population of 11 assets in a "listed" or "pending contract" status as of
February 28, 2017:
2 of 11 (18%) have days on market of more than 60 days
2 listed assets have a variance (current list price as a percentage of the initial list price) outside of
what RMS believes is an acceptable range
No assets have days on market of more than 100 days
3 assets have reductions of more than 10% since listing
When reviewing days on market together with the historic offers on the property, in our view many
of these have a list price that still appears high, as suggested by the days on market, low offers
(compared to the list price) and/or an ongoing lack of activity.
Based on ... Show more content on Helpwriting.net ...
Because Altisource cannot be directed by RMS to set the list price of an asset, RMS attempts to get
Altisource to recognize assets that are listed too high and to make more appropriate adjustments
when necessary to help generate activity and offers.
RMS continues to review assets where we believe the list price set by Altisource is high relative to
our opinion of market value on those that RMS has reviewed. On listed assets with DOM of more
than 60 days, RMS and Altisource discuss the list price and agent feedback to better understand the
issues and RMS targets these assets for review every 2 weeks.
Another ongoing observation is the frequency of assets in "pending contract" that fall out because
the "buyer" fails to return the purchase agreement. This trend continues to be high. Although
Altisource does not provide statistics regarding overall pending contracts that fall out, in our view,
the number is higher than other REO vendors we work with. We believe this likely relates to the
process by which Altisource sells REO assets on the HUBZU website, where there is no "economic
penalty" to the bidder if they place an offer on a property that is accepted, but subsequently fails to
deliver an executed purchase agreement. In a traditional sale transaction, the executed purchase
agreement and earnest money deposit are "the offer" and are delivered up front

The Company Logo—an Asset or Expense? Essay
The Company Logo–an asset or expense?
As the title of this essay suggests, it must first be decided whether the company symbol or logo
should be recognized as an asset or an expense. An asset is defined as something of value, such as
cash, equipment, inventory, or buildings, while expense is defined as something that has a negative
effect on the value of the practice, such as accounts payable. The simple question that needs to be
answered is "Does the company logo contributes to or takes away from the value of the business"?
Since the company has to pay for the consultant company, the logo could be considered an expense,
however, the logo contribute to the revenue of the business in many ways like build the image of the
company, establish ... Show more content on Helpwriting.net ...
For example, if customers have a positive experience for the company's products and services, they
will become loyal customers who will give back to the company and encourage others to try the
services and products. In this sense, the logo acquired by the Real and Reel will generate future
economic benefits to the entity. Besides, the logo purchased by Real and Reel is a private property
of the company, which means that the company control the benefits and excludes others to use or
enjoy the privileges. In addition, the company's acquisition of the logo is from the dealing with a
consultant at a cost of $300,000. This past transaction definitely give Real to Reel company the
control of the future economic benefits derived from the logo.
However, assets can be categorized into fixed assets and intangible assets. Fixed assets are tangible
assets acquired by the business used in operations like property, plant and equipment. Intangible
assets are assets of value without physical substance that are used in business such as licenses,
patents, trademarks, copyrights and ect. The intangible asset is defined as 'an identifiable non–
monetary asset without physical substance'. (Deegan 2010) An asset meets the identifiability
criterion when it is separable i.e. is capable of being divided from the entity and sold, transferred,
licensed, rented or exchanged, either individually or together with a related contract,

Asset Forfeiture Explained: How Governments Seize Property

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