Accounting 101 Closing Trial Bala... Nov 16, 2009
At the close of each accounting period, the trial balance sheet is created to ensure that each account balances before the financial statements are created. The trial balance sheet acts as a tool to ensure the integrity of the financial statements. (Suite101.com)
DTC: Hardly charitable to charities Oct 31, 2009
In addition to the income spent on such purposes during the relevant accounting period, income accumulated or set apart for application to such purposes up to 15% of the income is also exempt. This privilege will no longer be available to such charities. (India Times)
Stock questions? Ask Matt Oct 13, 2009
Oracle acknowledges this, saying in its 10-K: "We exercise judgment and use estimates in connection with the determination of the amount of software and services revenues to be recognized in each accounting period.". Matt Krantz is a financial markets reporter at USA TODAY and author of Investing Online for Dummies. (USA Today -- Money)
How to analyse an annual report Sep 23, 2009
Income statement is the financial statement that shows the effects of transactions completed over a specific accounting period. In this statement, we have three key pointers: the current level of revenue; high growth in revenue; and the profits made in proportion to the level of revenue. (The Star Online, Malaysia -- Business)
* Kaohsiung to help MRT operator Sep 19, 2009
Describing the company as being in dire financial straits, Yen said that it is also due to pay billions of New Taiwan dollars in construction fees to contractors during the current cost accounting period. Saying that ticket revenues are not enough to offset operating losses, Yen said the company was seeking financial support from the city government. (Taipei Times, Taiwan -- Taiwan)
Casio Hitachi Mobile Communications to Merge with NEC's Mobile Terminal Unit Sep 14, 2009
26% Number of Board Members: 8 (NEC: 6, Casio: 2, representative director selected by NEC) Consolidated Number of Employees: 2,200 including NEC Saitama (non-consolidated: 1,300) Established: April 2010 (planned) Accounting Period: April to March Business Summary: Mobile terminal product planning, development, production, sales and maintenance 3 ... Overview of CHMC (The to-be-transferred Casio subsidiary company) Company Name: Casio Hitachi Mobile Communications Co., Ltd. Established: April 1,... (PR Newswire)
Turbulence at Malaysia Airlines Aug 8, 2009
The standard, however, allows any subsequent gain in an accounting period to be taken through the profit and loss account, misleadingly inflating reported profit. It would have been better if the gain had gone straight to the balance sheet via an adjustment to the value of the derivative contracts, leaving the profit unchanged. (The Star Online, Malaysia)
California cuts deep to close $25B budget gap Jul 25, 2009
The rest would come from various financial maneuvers, such as shifting state payroll entries to another accounting period. "I'm really tired, and I just made one of the hardest votes I've made in a long, long time," Republican Assemblywoman Jean Fuller said. (CNN -- US)
One fatality reported for the Valley over Memorial Day holiday May 29, 2009
The death of 23-year-old Quintin Tillery of Halifax, a pedestrian who was killed on the Rockfish Capital Bridge on U.S. Highway 301, occurred May 20 during the accounting period, Sgt. W.C. Johnson said yesterday ... A total of 21 checkpoints were held throughout the holiday accounting period along with 10 saturation and random patrols. (Roanoke Rapids Daily Herald, NC)
Improvements to Business Payment Support Scheme Apr 28, 2009
This means that losses do not count for relief until the accounting period which produces the loss has come to an end ... The time to pay arrangement having been agreed, the loss will be formally claimed for once the accounting period ends. (Accounting Web, UK)
Tribe nets $11,000 in stimulus Apr 14, 2009
There is also more accountability to the American public with stimulus money, and a shorter accounting period. Even though the tribe works on a 30 million budget, he said the money would be very helpful and added that health care was at the top of the tribe s wish list for use of stimulus money. (Gaylord Herald Times, MI)
Cos pay 50% profits as taxes Mar 30, 2009
The survey was based on the accounting period ending March 31, 2008. Ficci is of the view that the corporate tax burden should be slashed substantially and should not exceed 25. (India Times)
Chip woes, credit crunch gang up on EDA Mar 5, 2009
Magma is facing a difficult accounting period, with their results impacted not just by their sales but also by regulations regarding their status as a publicly traded company. Magma is still recovering from the mistake of introducing a product too early, running into difficulties with the customers that were targeting 65-nm processes, and loosing some of them to the competition (I am told that means Synopsys). (EETimes)
DCP Midstream Partners Reports Fourth Quarter and Year End 2008 Results Feb 26, 2009
Mark-to-market accounting rules require companies to record currently in earnings the difference between their contracted future derivative settlement prices and the forward prices of the underlying commodities at the end of the accounting period. Revaluing our commodity derivative instruments based on futures pricing at the end of the period creates an asset or liability and associated non-cash gain or loss. (PR Newswire)
Profit up, but Loblaw braces for tough year Feb 19, 2009
For the full-year of 2008, a 53-week accounting period, Loblaw reported profit of $545-million, or $1. 99 a share, compared with $330-million, or $1. (Globe and Mail -- Business)
Vectren Corporation Reports 2008 Results Feb 19, 2009
The company believes that such a charge, should it occur, would not have a material adverse effect on either the company's, or ProLiance's, financial position, cash flows, or liquidity, but it could be material to net income in any one accounting period. Further, it is not expected that the delay in Liberty's development will impact ProLiance's ability to meet the needs of its customers. (PR Newswire)
