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Microsoft Corporation reports its investments available-for-sale at the fair value of the investment securities. The net unrealized holding gain is not reported in the income statement. Instead, it's reported as part of Other comprehensive income and added to Accumulated other comprehensive income in shareholders' equity. Comprehensive income is a broader view of the change in shareholders' equity than traditional net income, encompassing all changes in equity from non-owner transactions. Microsoft chose to report its Other comprehensive income as a separate statement in a disclosure note in its annual report: MSFT Annual Report 2011 What does Microsoft mean by the term "Reclassification adjustment for gains included in net income"? Can you think of an instance where reclassification adjustment could be used unethically?
Financial leases are considered to be the same as a purchase and therefore the asset is placed on the lessee's financials. Do you feel that it is proper treatment to consider the asset as the property of the lessee even though no title has passed ..
In preparing consolidated financial statements, what amount of this debt should be eliminated?
assume your grandparents have just given you 20000 on the condition that you invest the money in the stock market. as
A substantial number of hours was spent by Raleigh and Mincin in resolving relatively minor differences between the confirmation replies and the accounting records. Alternative audit procedures were used for supplier who did not respond to the con..
1. which gaap requires the use of depreciation for assets that have useful lives beyond 1 year? explain why this
Could we use managerial accounting "tools" to assess the profitability of an organization other than a manufacturing business, or are the topics we are learning only related to manufacturing?
Starr Company has already manufactured 50,000 units of Product A at a cost of $50 per unit. The 50,000 units can be sold at this stage for $1,250,000. Calculate the Incremental Net Income if processed further.
The primary revenue source for not-for-profit organizations is contributions. Please define what a contribution is, and discuss how the different types of contributions are recognized as revenue (i.e. cash contributions, unconditional promise to g..
The actual supplies cost for the month was $9,500. The supplies cost in the flexible budget for January would be closest to:
Ramsey Company typically sells subscriptions on an annual basis, and publishes six times a year. The magazine sells 60,000 subscriptions in January at $10 each. What entry is made in January to record the sale of the subscriptions?
How can the concept of unit-level activities be applied to an airline? More specifically, what are two examples of unit-level activities for JetBlue? What steps has JetBlue taken to manage these unit-level activities more efficiently?
how do not-for-profits differ from governments in the way they account for business-type activities such as dining
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