TO: O.T.T. Incorporated FROM: Xiaoqian Kang DATE: Dec. 31, 20X1 SUBJECT: Determine the amount of other-than-temporary impairment (OTTI)
Introduction O.T.T. Incorporated, principally engaged in the manufacture and sale of clothing, has six investments remaining in the department’s portfolio as of December 31. According to ASC, this memo analyzes whether any of its investments are other-than-temporary impaired, and determines the amount of the impairment.
Facts Investment 1 -- Happy New Year & Co. OTT purchased 11 shares of Happy New Year & Co. stock on at $20 a share on Jan. 3, 20X1, and the price dropped to $15 in March and remained steady till Dec. 31, 20X1. OTT management does not believe the decline in price to be For debt securities for which other-than-temporary impairments were recognized in earnings, the difference between the new amortized cost basis and the cash flows expected to be collected shall be accreted in accordance with existing applicable guidance as interest income.” Although Tohoku Toys is undergoing a restructuring because of earthquake, OTT does not believe the restructuring will be successful. Based on authoritative literature mentioned above, the other-than-temporary impairment shall be recognized as $20 ($25-$5) when no addition evidence provided. Investment 6 -- Chatterbox --Alternative 1: SAB 320-10-35-34B: “If an entity intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis less any current-period credit loss, the other-than-temporary impairment shall be recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date.” Based on the authoritative literature, if OTT intends to sell this security, the other-than-temporary impairment shall be recognized in earnings equal to the entire difference between the investment’s amortized cost basis ($100) and its fair value ($90), which is $10. --Alternative 2: SAB 320-10-35-34C: “If an entity does not intend to sell the security and it is not more
Company Ernst&Young Day of week date source link observations Monday 14-07-2014 NYT http://dealbook.nytimes.com/2014/07/14/ernst-young-to-pay-fine-in-lobbying-case/?_php=true&_type=blogs&module=Search&mabReward=relbias%3As%2C%7B%222%22%3A%22RI%3A12%22%7D&_r=0 Ernst & Young to Pay Fine in Lobbying Case E&A held responsible for collapse of LB, today the blame is not as powerful as it used to be but is still talked about 6 years later Monday 21-07-2014 EY http://www.ey.com/GL/en/Newsroo…
that "eat" Ammonia and use it for their own food source. Bacteria like Nitrosomonas, Nitrosococcus, and Nitrosospira will use the energy stored in the Ammonia molecule, then release the Nitrogen left over from the process as another form. In this case, it is combined with Oxygen and re-introduced to the environment as Nitrite (NO2). Nitrite is also a deadly poison to tank inhabitants but there are other types of bacteria which will then use the Nitrite for food. These bacteria, Nitrobacter,…
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MC5051 BRAND MANAGEMENT PRESENTATION SCHEDULE: WEEK 14 (Tuesday) 10% OF TOTAL MARKS 10 MIN PRESENTATION + 5 MIN Q & A SEE VENUE/TIME SLOT FOR YOUR GROUP Tutor: Rehnuma Ali-Choudhury The group presentations will take place in week 14 & week 15. Please check time, date and room no. for your group’s presentation carefully. Any group who want to change their allocated time slot should contact me on R.AliChoudhury@londonmet.ac.uk. The group presentation should last NO LONGER than 10 minutes. There…
10 11 12 13 14 15 16 17 18 Introduction Manufacturing Unit 1: Mumbai Manufacturing Unit 2: Chennai Manufacturing Unit 3: Mumbai Manufacturing Unit 4: Uttar Pradesh Manufacturing Unit 5 : Uttar Pradesh Manufacturing Unit 6: Uttar Pradesh Manufacturing Unit 7: Uttar Pradesh Manufacturing Unit 8: Uttar Pradesh Manufacturing Unit 9: Delhi Manufacturing Unit 10: Delhi Manufacturing Unit 11: Uttar Pradesh Manufacturing Unit 12: Delhi Manufacturing Unit 13: West Bengal Manufacturing Unit 14: West Bengal…
m. until 9 p.m. however tit starts to decline at 10 p.m. Rule of Thirds One of the main principles in the use of social media planning is the rule of thirds. This principle suggests that in order to manage an effective social media account (in this case, for a business) it is useful to ensure that one third of all of your posts includes: 1/3 are Product posts: These posts are used to promote the business. 1/3 are Fluff posts: These are quirky and fun posts which could be stories but could also be…
Jennifer Nguyen Professor Perry Daughtry Intro to Psychology 09-28-2012 Sleep Journal Essay College students like myself often put off sleep for other activities like studying, doing homework or even just staying up all night with a friend. Our body follows the twenty-four hour cycle of each day and night through a biological clock called the Circadian rhythm. On the weekdays, staying up all night and skipping meals makes it difficult to focus in class. After lunchtime, I become sleepy and…
You Look Great Reply Retweet Favorite · Open + reminds you that each day is a gift, and that most gifts are disappointing. says sarcasm is the language of loathe. says children are the future. The future looks grim. Therefore children look grim. says true love cannot be bought, but fake love can be and it feels just as good. says charity is the best way to let others know you have more money than them. says we can all do better, but why bother? says treat everybody well except the assholes…
CHICKEN-ARE-US RESTAURANT DATE: 09 /14 /14 System Service Request REQUESTER: Jasmin Aman, Administration Manager DEPARTMENT NAME: Administration ADDRESS: 608 S. Morgan Street, Chicago, IL CONTACT NO: TYPE OF REQUEST: URGENCY: [ x ] New System (Currently does not exist) [ x ] Immediate (Operations are impaired) [ ] System Enhancement (Upgrading the existing system) [ ] Problems exist…