User Account

All Pages

What disclosures should be made in the companys statement

Assignment Help Financial Management
Reference no: EM132406799

Question - Accrual for a Lawsuit, Writing an Issues Memo

Your company has just been named as defendant in a lawsuit related to a food poisoning incident. The plaintiff is suing for $200,000 in damages; your company believes the ultimate amount of loss could range between $25,000 and $175,000, with no amount in the range more likely than other amounts in the range. The lawsuit is expected to be resolved in the second quarter of next year.

Citing from authoritative literature, prepare a brief accounting issues memo to the files addressing (1) whether a loss should be accrued, and for what amount, and (2) what disclosures should be made in the company's financial statements.

Reference no: EM132406799

Questions Cloud

ECON201 Macroeconomics Assignment Problem : ECON201 Macroeconomics assignment help and solutions, Saudi Electronic University, assessment help - Analyze and create T-account balance sheets.
What is the firm eoq : Carla Vista likes to maintain safety stock of 17 generators at all times. What is the firm's EOQ?
What is effective interest rate on line of credit : What is the effective interest rate on this line of credit? (Round answer to 2 decimal places, e.g. 12.25%.)
Calculate firm cash conversion cycle : You also see that the company had sales of $169,000 and that cost of goods sold was $135,200. Calculate firm's cash conversion cycle.
What disclosures should be made in the companys statement : Your company has just been named as defendant in a lawsuit related to a food poisoning incident. The plaintiff is suing for $200,000 in damages;
What is the dollar cost of the factoring service : Sandhill, Inc., sells $302,000 of its accounts receivable to factors at a 3 percent discount. The firm's average collection period is 90 days.
Reviewed articles on management information systems : Read at least three academically reviewed articles on Management Information Systems. Discuss at least 3 different concepts presented in the articles.
How a national business environment influence firm decision : Discuss how a national business environment can influence a firm's decision to standardize or differentiate its product. How do cultural differences impact.
Write the Security Architecture section : For this assignment you will write the Security Architecture section of 4-5 pages of the Network Security Plan document

Reviews

Write a Review

Financial Management Questions & Answers

  Foreign company acquisition

Acquisition by a foreign company and the effects of that decision and the results of foreign exchange in Euro and the exchange rate differences.

  Financial management for profit and non profit organizations

In this essay, we are going to discuss the issues of financial management in a non-profit organisation.

  Method for estimating a venture''s value

Evaluate venture's present value, cash and surplus cash and basic venture capital.

  Replacement analysis

This document show the Replacement Analysis of modling machine. Is replacement give profit to company or not?

  Business finance task - capital budgeting

Your company is considering using the payback period for capital-budgeting. Discuss the advantages and disadvantages of this technique.

  Analysis of the investment

In this project, you will focus on one of these: the additional cost resulting from the purchase of an apple press (a piece of equipment required to manufacture apple juice).

  Conduct a what-if analysis

Review the readings and media for this unit, including the Anthony's Orchard case study media. Familiarise yourself with the Anthony's Orchard company and its current situation.

  Determine operational expenditures

Organisations' behaviour is guided by financial data. In the short term, such data will help determine operational expenditures; in the long term, historical data may help generate forecasts aimed at determining strategic plans. In both instances.

  Personal financial management

How much will you have left over each half year if you adopt the latter course of action?

  Sources of finance for expansion into new foreign markets

A quoted company is considering several long-term sources of finance for expansion into new foreign markets.

  Long term financial planning

This assignment is designed for analyze Long term financial planning begins with the sales forecast and the key input in the long term fincial planning.

  Explain the role of fincial manager

This assignment explain the role of fincial manager, function of manger. And what are the motives of financial manager.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd