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Hewlett-Packard On November 20, 2012, Hewlett-Packard announced that it had taken an $8.8 billion accounting charge, after discovering "serious accounting improprieties" and "outright misrepresentations" at Autonomy, a British software maker that H.P. bought for $11.1 billion in the previous year. The news was a major setback for H.P., which has been struggling to turn around its operations and remake its business. The charge essentially wiped out its profit. In the latest quarter, H.P. reported a net loss of $6.9 billion, compared with a $200 million profit in the period a year earlier. The company said the improprieties and misrepresentations took place just before the acquisition, and accounted for the majority of the charges in the quarter. The alarm bells started ringing less than a year after the technology company bought Autonomy in the summer of 2011. Unhappy with the business's sagging performance, H.P. ousted Mike Lynch, the software company's mercurial Cambridge-educated founder, and sent a team to England to review its books last May. It was then that a senior finance official at the British company stepped forward, raising questions about the accuracy of the numbers. But Mr. Lynch said his company's sales fell off a cliff after it merged with H.P. - not because it suddenly had to account for things legally, as H.P. claims, but because of institutional foot-dragging at H.P. The pattern of dysfunction at Autonomy that each side says the other fostered illustrates how hard it is for any two companies to fully understand each other before merging. It also calls into question whether what remains of Autonomy will quickly or easily deliver meaningful results. Answer the following questions: (1) In September 2010, HP completed its $2.35 billion merger with 3Par, just weeks after thwarting rival Dell in a bidding war for the storage vendor. 3Par's StoreServ Storage Platform has been HP's flagship product and a growth driver of HP's storage revenue since the merger. Why is the acquisition of 3Par a great success while the purchase of Autonomy is not? Briefly compare the health of the two target companies at the time of acquisition.
irmas interiors uses a job order costing system to collect the costs of its interior decorating business. each clients
Evaluate the number of shares to be employed in determining diluted earnings per share for 2013.
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an accountant must be familiar with the concepts involved in determining earnings of a company. the amount of earnings
Data concerning Golding Corporation's single product appear
In 2011, Father sold land to Son for $150,000 cash and an installment note for $450,000 due in 2015. Father's basis was $240,000. In 2012, after paying $27,000 interest but nothing on the principal, Son sold the land for $600,000 cash. As a result..
A city received supplies that had been previously encumbered. The supplies were encumbered for $5,000 and had an actual cost of $4,900. To recognize this event the county should make which of the following entries?
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Garrison Company issued $500,000 bonds with a stated interest rate of 10% for $480,000 in 2009. The bonds pay interest annually and have a 10 year maturity. The amount of interest expense that should be recorded annually should be ?
The Economic Order Quantity (EOQ) model is helpful in determining accurate inventory decisions. Discuss the major inventory costs that are used in determining the EOQ.
What are the partnership's bottom line net income and its separately stated items?
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