animals available and held for sale and harvested crops can be reported by this approach‚ too. These two items can also be valued at sales price less estimated costs of disposal‚ if all the following conditions exist‚ according to the FASB Accounting Standards Codification: • The product has a reliable‚ readily determinable‚ and realizable market price. • The product has relatively insignificant and predictable costs of
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Hitzig Case 09-2 Pharmagen 1. Since there is no obligation to the nonrefundable repayment of the $500 million of funding and Pharma retains intellectual rights (no financial risk for Pharma as per ASC 730-20-25-4)‚ it can be seen as a Research and Development and expensed as incurred according to ASC 730-20-35-1 because no future service can be made. The funding for product X is specified by the investor to be used only for R&D of product X which is not commercialized and not for a future project
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Ambulatory surgery centers (ASCs) are seeing an uptick in activity in recent years‚ as procedures have shifted from hospital inpatient‚ to hospital outpatient - now ASCs. According to Becker’s ASC Review‚ numerous reasons exist for the transition‚ including patient and provider convenience and cost-savings‚ high-quality outcomes‚ and technology that enables sophisticated ambulatory surgery procedures. Shutterstock Image #6502933 ---- Alt Text: Ambulatory Surgery procedures improve in quality ----
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HasSpace NeedsLease is renting a space for its corporate office from HasSpace by entering into a lease agreement. The agreed lease term is for 10 years and there is no option to renew nor is the ability to negotiate renewal of the term. According to ASC 840 (5F of statement 13)‚ the lease is classified as operating lease. The agreement includes two provisions that may require NeedsLease to perform certain activities at its cost. The first provision requires that the lessee‚ NeedsLease‚ may have to
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According to the ASC (2007)‚ a quality coach needs to have thorough knowledge and understanding of the developmental stages children go through. It is their responsibility to understand that there are great variations of growth rates in children and that there are several structural and functional
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Executive function (EF)‚ understanding how it may affect our practical lives might be difficult to explain especially when it is impaired which is expected to be the case with someone with ASC.It was concluded the executive dysfunction is not unique to ASC‚ however it is part of the theories that explains the cognitive functioning in autism (Hill‚ 2004). These components of four cognitive parts; planning‚ mental flexibility‚ inhibition and generativity (Barnard L‚ et al ‚ 2008‚ Gilotty L‚et al 2002‚ Firestone
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a) ASC 830-230-55-1: This reference shows how to format and account for cash flows when a company has subsidiaries operating in foreign countries. It gives an example of a consolidated cash flow statement from a US based company and its two subsidiary companies. The reference explains how excess cash should be disclosed. A majority of the reference deals with the local currency and how it should be shown with the parent company‚ in this case a US company based on the dollar. So for both foreign companies
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It was determined that for similar companies providing similar services‚ the average customer life‚ including renewals‚ is approximately 4.5 years. Direct and incremental third-party costs incurred by OSI in Expense ASC 310-20-25-26 (Use connection with this study were $25‚000. ASC as an Analogy) Since the products of Company X are unique to Company X‚ each CSR will undergo an extensive on-the-job training regimen to ensure they are trained adequately to provide technical support. OSI is responsible
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information impact the amount recognized or disclosed? According to ASC 720-20-25-14‚ it requires that insured entities including those that use a claims-made approach for insuring certain risks‚ recognize a liability for the probable losses from incurred but not reported claims and incidents if the loss is both probable and reasonably estimable. So‚ the estimation of medical benefit payables should be recognized. According to ASC 944-40-35-1 Changes in estimates of claim costs resulting from the
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This report is for the Board of Directors of Coral Bay Hospital‚ to evaluate a project to build an Ambulatory Surgical Center(ASC) This report utilizes the base case analysis‚ worse case analysis and best case analysis feeling these analyses are sufficient‚ while many analyses may be of interest‚ they could confuse the recommendations and strategic value of the project. In preparation the board would be told that calculating multiple NPVs for multiple inflationary rates for labor cost and supply
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