MEMORANDUM To: Manager of Snowy Ridge Ski Resort From: Kate Smith‚ Chief Accountant for Recreational Properties‚ Inc. Date: October 27‚ 2010 RE: Fair Value Assessment The subsequent valuations are consistent with the Statement of Financial Accounting Standards no. 157‚ defined as “the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.” Snowy Ridge Ski Resort was acquired on June‚ 30th
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FAIR VALUE MEASUREMENT 1. The meaning of fair value Fair value is the price that would be received from the sell of an asset or will be paid to transfer a liability in an orderly transaction between the market participants and the measurement date [IFRS‚ 13 – A501]. However in accounting and economics‚ fair value is the rational and unbiased estimate of a possible market price of a good‚ service or an asset. Fair value takes into account many objectives and subjective factors such as: Objective
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Principles of Management SKI RESORTS IN THE USA CASE STUDY Table of Contents: 1. Abstract…………………………………………………………………………………………..3 2. Question 1………………………………………………………………………………………4 3. Question 2………………………………………………………………………………………5 4. Question 3………………………………………………………………………………………7 5. Question 4………………………………………………………………………………………8 6. Conclusion………………………………………………………………………………………9 7. Reference list…………………………………………………………………………………10 Abstract The following paper
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What is service culture? “Service Culture” is “a shared purpose where everyone is focused on creating value for others inside and outside the organization.” (Ihara‚ 2011). In this paper‚ we will discuss how the management of Grand Targhee created a service culture‚ how fun relates to establishing a service culture and which product Grand Targhee is successful and why. According to the Case Study‚ you can see that the management of Grand Targhee created service culture based on customer satisfaction
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CHAPTER 5 Review Questions 2 – Organization culture can significantly influence the estimates. How the difference of culture appears on human beings can also be seen in an organization. In some organizations‚ padding estimates is normal and even encouraged in some cases. On the other hand‚ another organization which is sensitive on estimates can put much more effort to increase the accuracy of the project estimates. It is all about their approach to the project management. Some believe that it
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Deer Valley Lodge Ski Resort Katrina Edwards 14 December 2008 AIU Deer Valley Lodge Ski Resort Deer Valley Lodge wants to upgrade their facilities by adding five ski lifts. What we were first asked to do was to calculate the investment‚ which includes the lifts‚ installation‚ and preparation. It’ll cost $2 million for each lift and $1.3 million to prepare the slopes. The investment‚ what needs to be spent today is $3.3 million‚ you’ll get that figure by adding the costs of the lift and
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| Abstract This document is concerned with the relationship between the financial crisis and fair value accounting. Its purpose is to make an understanding of the strengths and limitations of fair value accounting. The report also gives some examples of fair value accounting measures used in several Australian companies. In this report‚ City Weat Water LTD and JB HI-FI LTD are used to explain that. Introduction With the modern transportation and communication technology development‚ in the industrial
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Fair value How your property valuations can be fully compliant with HKFRS 13 Property valuations are commonly required for financial reporting purposes. Gary Stevenson explains how they need to meet the upcoming standard on fair value measurement H KFRS 13 Fair Value Measurement provides a single comprehensive source of guidance on how fair value is measured for financial reporting purposes. The standard is applied prospectively for annual periods beginning on or after 1 January
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Top French Ski Resorts France is probably the top ski destination in Europe with its wide variety of resorts and excellent ski infrastructure. Each ski resort offers something unique‚ so you’ll need to do your research and make the right selection. Even if you haven’t planned your ski holiday in advance‚ or changed your plans and dates at the last minute‚ don’t worry. The French Alps have enough resorts and ski destinations with last minute availability of holiday rental accommodation. French Alps
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The International Accounting Standards Board (IASB) is an independent‚ private-sector body that develops and approves International Financial Reporting Standards (IFRS). The IASB was formed in 2001 to replace the International Accounting Standards Committee. Its mission is “to develop a single set of high quality‚ understandable‚ enforceable and globally accepted International Financial Reporting Standards”. The Financial Accounting Standards Board (FASB) is a private‚ not-for-profit organization whose
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