Essays on Reporting Entity

Question one

The coca cola Enterprise was incorporated in Delaware 2010. Additionally, it is a publicly traded firm that is listed in New York Stock Exchange. It is a marketer, distributor, and producer of the nonalcoholic drinks of Coca-Cola Company via a licensed territory agreements in Belgium, great Britain, Monaco, and Sweden (2015 Annual Report:23). The coca cola Enterprise Inc. acts as the anchor bottler in West Europe, and North America. The products of Coca-Cola Enterprise Inc. are Diet Coke, Sprite, Fanta, and Coca-Cola among others. Its primary strategy is to be the bottling partner in Western Europe as well as ...

Executive Summary

The world experienced one of its worst recession which commenced in late 2007. One of the issues that emerged was criticism on the then accounting standards which prompted standard setters to respond. The G20 countries recommended the formation of financial crises advisory committee which developed various recommendations that led to the improvement of specific International financial reporting standards namely IFRS 10, 11, 7 and 9. Also, the recommendation led to the development of IFRS 12. These development were the key responses by the standard setters which are reviewed to demonstrate how they positively impacted the financial statements

Introduction

Towards the ...

This report analyses the most recent financial reports of two companies; Sino Gas and Energy of Australia (2014), and Solar World of Germany (2015). Sino Gas and Energy reported total provisions of $97,166 that constituted 0.09% of the total assets. Solar World reported total provisions of k€ 49,466 that constituted 5.69% of the total assets. The provisions for the two companies are listed below in descending order based on their book values:

Sino Gas and Energy $

Other provisions 60,837 Employee entitlements 36,329 Total 97,166 Solar world k€ Warranties 24,653 Pensions 10,704 Litigation risks 9,190 Other ...

Should operational leases be involved in the accounting statements or should they be excluded; case study of an airline industry.

Introduction to research topic and main research question Significant restructuring of airline industries (such as Air China and Emirates) has brought along desirable increase in acquisition of aircrafts and other assets through leasing. The challenge at hand is whether the lease ought to be treated as an operating lease, a finance lease or should be excluded in the accounting all together. Throughout the airline industry internationally, the airlines comprehensively use operating leases for engines, aircraft, fly facilities and airport facilities. Operating leases is a form of off-balance sheet financing because traditionally the accounting standards did not require entities to ...

During classifications, entities are to use inputs for measuring fair value according to the three level hierarchies. We start from the highest then moving to the next until we get one which is available. The three levels used are:

Level 1: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

Level 2: Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs ...