FASB ASC 11‐4 The Fair Value Option and Health Care Businesses The FASB ASC indicates that...
- FASB ASC 11‐4 The Fair Value Option and Health Care
Businesses
The FASB ASC indicates that not‐for‐profit, business‐oriented health care entities shall report unrealized gains and losses on items for which the fair value option has been elected within the performance indicator or as a part of discontinued operations, as appropriate. Find, cite, and copy the FASB ASC’s definition of performance indicator as it relates to not‐for‐profit businesses.
Homework Answers
An amendment to the FASB statement no 115 has been made and amendment is effective as of the beginning of the entity first fiscal year that began after November 2007.
This statement permit entities to choose to measure many financial instrument and certain other item at Fair value. This statement is expected to extend the use of fair value measurement in the financial reporting
This Statement applies to all entities, including not-for-profit organizations. Most of the provisions of this Statement apply only to entities that elect the fair value option.
How Will This Statement Change Current Accounting Practices?
The fair value option specified by this Statement permits all entities to choose to measure eligible items at fair value at specified election dates. A business entity shall report unrealized gains and losses on items for which the fair value option has been elected in earning.
Hence ,A not-for-profit organization shall report unrealized gains and losses in its statement of activities or similar statement
Add Answer to:
FASB ASC 11‐4 The Fair Value Option and Health Care
Businesses
The FASB ASC indicates that...
Assume the fair value option for financial assets and liabilities is not elected. Which of the...
Assume the fair value option for financial assets and liabilities is not elected. Which of the following would not be an item classified separately under other comprehensive income? 1) Foreign currency items 2) Adjustments to record funded status of pension plans 3) Unrealized gains (losses) on available‐for‐sale debt securities 4) Gains (losses) on sale of treasury stock
The FASB ASC indicates that because of special provisions normally present in leases involving terminal space...
The FASB ASC indicates that because of special provisions normally present in leases involving terminal space and other airport facilities owned by a government unit or authority, the economic life of such facilities for purposes of classifying the lease is essentially indeterminate. Likewise, the concept of fair value is not applicable to such leases. Because such leases also do not provide for a transfer of ownership or a bargain purchase option, they are classified as operating leases. Leases of other...
Question 26 (1 point) Which of the following is not true when the fair value option...
Question 26 (1 point) Which of the following is not true when the fair value option is elected for an investment that would normally be accounted for under the equity method? No journal entry need be made to recognize the investor's portion of the investee's net income. Unrealized holding gains and losses on that investment are recognized in net income. No journal entry need be made to recognize the investor's portion of dividends paid by the investee. All of these...
Calculate 1. Return on assets, 2. profit margin, 3. working capital, 4. current ratio, 5. current...
Calculate 1. Return on assets, 2. profit margin, 3. working
capital, 4. current ratio, 5. current debt cash coverage, 6, debt
to total assets ratio, 7. cash debt coverage.
Financial statements INCOME STATEMENT For the year ended 30 June 2019 Consolidated RESTATED 2019 2018 $m $m Note 1 27,920 26,763 2 (16,344) (4,290) Continuing operations Revenue Expenses Raw materials and inventory Employee benefits expense Freight and other related expenses Occupancy-related expenses Depreciation and amortisation Impairment expenses Other expenses Total expenses...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
Required: 1. What is the amount of Apple’s accounts receivable as of September 30, 2017? 2....
Required:
1. What is the amount of Apple’s accounts
receivable as of September 30, 2017?
2. Compute Apple’s accounts receivable turnover as
of September 30, 2017.
3. How long does it take, on average, for
the company to collect receivables for fiscal year ended September
30, 2017?
4. Apple’s most liquid assets include (a)
cash and cash equivalents, (b) short-term marketable
securities, (c) accounts receivable, and (d)
inventory. Compute the percentage that these liquid assets (in
total) make up of...
Question 26 (1 point) Which of the following is not true when the fair value option is elected for an investment that would normally be accounted for under the equity method? No journal entry need be made to recognize the investor's portion of the investee's net income. Unrealized holding gains and losses on that investment are recognized in net income. No journal entry need be made to recognize the investor's portion of dividends paid by the investee. All of these...
Calculate 1. Return on assets, 2. profit margin, 3. working
capital, 4. current ratio, 5. current debt cash coverage, 6, debt
to total assets ratio, 7. cash debt coverage.
Financial statements INCOME STATEMENT For the year ended 30 June 2019 Consolidated RESTATED 2019 2018 $m $m Note 1 27,920 26,763 2 (16,344) (4,290) Continuing operations Revenue Expenses Raw materials and inventory Employee benefits expense Freight and other related expenses Occupancy-related expenses Depreciation and amortisation Impairment expenses Other expenses Total expenses...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
Required:
1. What is the amount of Apple’s accounts
receivable as of September 30, 2017?
2. Compute Apple’s accounts receivable turnover as
of September 30, 2017.
3. How long does it take, on average, for
the company to collect receivables for fiscal year ended September
30, 2017?
4. Apple’s most liquid assets include (a)
cash and cash equivalents, (b) short-term marketable
securities, (c) accounts receivable, and (d)
inventory. Compute the percentage that these liquid assets (in
total) make up of...
Most questions answered within 3 hours.
-
*****DO NOT ANSWER THIS QUESTION IF YOU DON'T
KNOW*******Rights and Duties of Auditors; Minimum 4000
words...
asked 48 minutes ago -
The probability that Janie is wearing sunglasses is 1/4. The
probability that she is wearing sunglasses...
asked 1 hour ago -
Do you believe social media is more of a help or a hindrance in
controlling crises...
asked 1 hour ago -
Two long, parallel wires separated by 2.85 cm carry currents in
opposite directions. The current in...
asked 1 hour ago -
Question # 1. Develop a list of rehabilitation journals
that publish articles concerning career counseling for...
asked 1 hour ago -
Bryant Company has a factory machine with a book value of
$85,100 and a remaining useful...
asked 1 hour ago -
What is the default classification for federal tax purposes of a
U.S. eligible entity with one...
asked 1 hour ago -
1. How many grams would 4.0x1021 atoms of calcium
weigh?
2.. Calculate the percent oxygen in...
asked 1 hour ago -
Balance Equation
K2Cr2O7 + H2C2O4 2H2O 6 K[Cr(C2O4 )2 (H2O)2 ]2H2O + CO2 +
H2O
asked 1 hour ago -
Select a position in the clinical laboratory and write an
appropriate job description and corresponding work...
asked 1 hour ago -
Targeting the Bottom of the Pyramid
What are some of the broader societal pricing concerns faced...
asked 1 hour ago -
Which of the following statements is correct? (3 marks)
a) Upon the public announcement of finding...
asked 1 hour ago