Al Badami Group of Companies range amongst one of the most reputed business establishments in the Sultanate of Oman. was established in 1973. It has three individual establishments namely; Global Chemicals & Maintenance Systems LLC, Al Badami Building Materials & Trading LLC, and Salem Al Badami Steel Industries LLC. These three establishments jointly presented the financial statement for the year 2020. Identify the type of report. a. Consolidated report b. Unconsolidated report c. Single report d. Combined report
Q: Following is financial information describing the six operating segments that make up Fairfield,…
A:
Q: Choose the correct. Which of the following statements is not true under U.S. GAAP?a. Operating…
A: Operating segments can be determined by looking at a company's organization chart Companies that…
Q: Listed below are definitions, examples, or descriptions related to business entities.1. Owned by one…
A: Organization of Business: An organization of a business is a substance shaped to carry on a business…
Q: statement, a 10k or an annual report. Review the footnote disclosures related to intercompany…
A: Dealing with intercompany activity is a part of financial consolidation! One of the most prevalent…
Q: Which decision has CPA Canada made with respect to financial reporting for private enterprises? a.…
A: Answer:- Financial reporting meaning:- The process of creating financial statements that reveal an…
Q: Next to the following list of eight characteristics of business organizations, select a brief…
A: A corporation is a legal entity that is different from its owners and exists independently from…
Q: Companies are required to transfer “other comprehensive income” each period to shareholders’ equity.…
A: Comprehensive income:Comprehensive income represents the amount of net income plus other…
Q: Three groups that participate in the process of establishing GAAP are users, preparers, and…
A: Definition: Generally Accepted Accounting Principle (GAAP): Generally Accepted Accounting…
Q: measurement models, why not use the fair value model for the more readily accessible properties and…
A: IAS 16 specifies the accounting treatment of Property, plant, and equipment.
Q: Each of these parties plays a role in the quality of financial reporting. Match each group with its…
A: Groups and functions:
Q: Annual reports ________. A. are required to be prepared by every corporation B. discuss the…
A: Please find the answer to the above question below:
Q: 7. According to the 1934 Securities Act, select ALL who must certify the quarterly and annual…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: ACLIVE In order for a company to distribute its financial statements to the public, it is required…
A: Hypothetical Example: XYZ CorporationSignificant Accounting Policy 1: Revenue RecognitionXYZ…
Q: A press release announcing the appointment of the trustees of the new Financial Accounting…
A: Requirement a: The organization that sponsors FASB is the Financial Accounting Foundation. They…
Q: Which of the following information should Starting Right Corporation present on its financial…
A: Answer: Introduction: Financial statements are the documents that any company prepares to show the…
Q: Information for the Hi-Test company’s production process for September follows. Assume that all…
A: 1. Particulars Units % Materials EUP - Materials Units completed and transferred out 23,000…
Q: Which of the following statements is not true under U.S. GAAP?a. Operating segments can be…
A: Definition: Generally Accepted Accounting Principles (GAAP): These are the guidelines necessary…
Q: Many non-U.S. companies make annual reports available on their corporate website. Access the…
A: Hi, since there are many sub parts to this question, we are answering only first four sub parts.
Q: Oryx Metal Industries LLC is an established manufacturing company for Semi-Trailer and rigid bodies,…
A:
Q: Which of the following highlights a purpose of having a conceptual framework for financial reporting…
A: Conceptual framework for financial reporting is a single, complete and comprehensive document…
Q: company or organization structure between these two are required to prepare audited financial…
A: They are different kind of organisation and each organisation need to comply different accounting as…
Q: CRITICAL THINKING ASSIGNMENT A corporation is a legal business structure involving one or more…
A: The share capital can be issued in various manners like IPO, bonus issue and right issue. The bonus…
Q: What four factors must be considered when Measuring income in financial statement Preparation? When…
A:
Q: Required Indicate whether the information is more representative of managerial versus financial…
A: Managerial accounting is the presentation of financial information for entities internal purposes to…
Q: You work as the financial controller for Dexter, a publicly listed company that prepares…
A: IFRS -IFRS stands as an international financial reporting standard that guidelines how to report any…
Q: Objective: As an accounting student enrolled in the Advanced Accounting course, this assignment aims…
A: The objective of this question is to apply theoretical knowledge of advanced accounting principles…
Q: Siemens AG, a German company, is Europe’s largest engineering and electronics company. The company…
A: 1.Locate the significant accounting policies disclosure note from the most recent financial report…
Q: Next to each corporate characteristic 1 through 8, enter the letter of the description that best…
A: Corporation: A corporation is a form of business entity that is incorporated through the state…
Q: Select a bank that operates within North America and describe and assess three banking services…
A: Bank of Saint Lucia is Saint Lucia’s leading banking institution. The Bank offers Personal and…
Q: 8-Sohar LLC collecting information from the environment in which a company operates and can include…
A: Information means any data which is useful in making the future decision of the company.
Q: You are presenting segmental information regarding your company to the finance committee of the…
A: 1. The organization sometimes recognizes different segments on the basis of management approach. The…
Q: Which one of the following is covered by the Commercial company law of Oman? a. Municipalities b.…
A: Joint stock companies are covered by the Commercial company law of Oman.Option b Joint-stock…
Q: Question 1 (i) Which of the following statement is more apprpriate concering a two tier board? A.…
A: The two-tier model comprises of supervisory board and management board. It is also known as Dual…
Q: Which of the following are in keeping with Corporate Governance? a Shareholders run the company on…
A: Corporate governance is a is a structure, set of rules and practice that is aimed at managing a…
Q: To incorporate,
A:
Q: The GASB defines a financial reporting entity as the primary government and the entities for which…
A: The objective of the question is to determine whether each of the listed entities would be…
Q: Statement 1: A research and development function could qualify as an operating segment Statement 2:…
A: Statement 1: A research and development function could qualify as an operating segment True. Where…
Q: Industry standards for financial statement analysis: Multiple Choice Are used to compare a company's…
A: There are four comparisons of standards of financial statements, competitors, intra-company…
Q: Which of the following comprises 70% of business entities in the United States? a. corporations b.…
A: In the realm of business entities in the United States, it's essential to understand their…
Q: Explain the complexities and challenges associated with implementing the International Financial…
A: Implementing International Financial Reporting Standards (IFRS) in multinational corporations (MNCs)…
Al Badami Group of Companies range amongst one of the most reputed business establishments in the Sultanate of Oman. was established in 1973. It has three individual establishments namely; Global Chemicals & Maintenance Systems LLC, Al Badami Building Materials & Trading LLC, and Salem Al Badami Steel Industries LLC. These three establishments jointly presented the financial statement for the year 2020. Identify the type of report.
Step by step
Solved in 2 steps
- Please Solve all required with details and do not Give image formatNeed an answer for question B (i ii iii) (b) Obtain the most recent annual reports for TWO FTSE 100 companies of your choice (NOTE: you need to make sure the companies chosen to have more than one operating segment and thus have meaningful segment notes for analysis). Examine the segmental disclosures provided in the segment notes of the annual reports by the selected two companies and comment on the following:i. Based on extracts from the segment notes,• how much and what segmental information is provided in the segment notes?• discuss whether the companies are in compliance with the relevant accounting standard, and• discuss the similarities and differences between their disclosure practices. ii. Comment on whether the information is useful and sufficient to allow shareholders to make informed investment decisions iii. Discuss the implications of your analysis and findings, such as policy implications.Assume that Alpha and Omega compete in the same four-digit SIC code industry and offer comparable products and services. The following table contains their reported financial performance and condition for the last two years: Alpha Company Omega Company Balance Sheet Year 1 Year 2 Analysis Year 1 Year 2 Analysis Assets-Cash 250 480 92% 250 480 92% Assets-Accounts Receivable 250 330 32% 250 530 112% Assets-Long-Term 500 900 80% 500 900 80% Assets 1,000 1,710 71% 1,000 1,910 91% Liabilities-Current 400 750 88% 400 750 88% Liabilities-Long-Term 200 375 88% 88% 200 375 Liabilities 600 1,125 88% 600 1,125 88% Stockholders' Equity 400 585 46% 400 785 96% Liabilities and Stockholders' Equity 1,000 1,710 71% 1,000 1,910 91% Income Statement Revenues 1,200 2,20o 83% 1,200 2,400 100% Costs of Goods Sold 500 925 85% 500 925 85% Gross Profit 700 1,275 82% 700 1,475 111% 600 82% 600 1,090 82% Operating Expenses Operating Income 1,090 185 85% 385 285% 100 100 Statement of Cash Flows 85% 385 285%…
- Effect of Industry Characteristics on Financial Statement Relations. Effective financial statement analysis requires an understanding of a firms economic characteristics. The relations between various financial statement items provide evidence of many of these economic characteristics. Exhibit 1.22 (pages 6061) presents common-size condensed balance sheets and income statements for 12 firms in different industries. These common-size balance sheets and income statements express various items as a percentage of operating revenues. (That is, the statement divides all amounts by operating revenues for the year.) Exhibit 1.22 also shows the ratio of cash flow from operations to capital expenditures. A dash for a particular financial statement item does not necessarily mean the amount is zero. It merely indicates that the amount is not sufficiently large enough for the firm to disclose it. Amounts that are not meaningful are shown as n.m. A list of the 12 companies and a brief description of their activities follow. A. Amazon.com: Operates websites to sell a wide variety of products online. The firm operated at a net loss in all years prior to that reported in Exhibit 1.22. B. Carnival Corporation: Owns and operates cruise ships. C. Cisco Systems: Manufactures and sells computer networking and communications products. D. Citigroup: Offers a wide range of financial services in the commercial banking, insurance, and securities business. Operating expenses represent the compensation of employees. E. eBay: Operates an online trading platform for buyers to purchase and sellers to sell a variety of goods. The firm has grown in part by acquiring other companies to enhance or support its online trading platform. F. Goldman Sachs: Offers brokerage and investment banking services. Operating expenses represent the compensation of employees. G. Johnson Johnson: Develops, manufactures, and sells pharmaceutical products, medical equipment, and branded over-the-counter consumer personal care products. H. Kelloggs: Manufactures and distributes cereal and other food products. The firm acquired other branded food companies in recent years. I. MGM Mirage: Owns and operates hotels, casinos, and golf courses. J. Molson Coors: Manufactures and distributes beer. Molson Coors has made minority ownership investments in other beer manufacturers in recent years. K. Verizon: Maintains a telecommunications network and offers telecommunications services. Operating expenses represent the compensation of employees. Verizon has made minority investments in other cellular and wireless providers. L. Yum! Brands: Operates chains of name-brand restaurants, including Taco Bell, KFC, and Pizza Hut. REQUIRED Use the ratios to match the companies in Exhibit 1.22 with the firms listed above.Effect of Industry Characteristics on Financial Statement Relations. Effective financial statement analysis requires an understanding of a firms economic characteristics. The relations between various financial statement items provide evidence of many of these economic characteristics. Exhibit 1.23 (pages 6263) presents common-size condensed balance sheets and income statements for 12 firms in different industries. These common-size balance sheets and income statements express various items as a percentage of operating revenues. (That is, the statement divides all amounts by operating revenues for the year.) Exhibit 1.23 also shows the ratio of cash flow from operations to capital expenditures. A dash for a particular financial statement item does not necessarily mean the amount is zero. It merely indicates that the amount is not sufficiently large for the firm to disclose it. A list of the 12 companies and a brief description of their activities follow. A. Abercrombie Fitch: Sells retail apparel primarily through stores to the fashionconscious young adult and has established itself as a trendy, popular player in the specialty retailing apparel industry. B. Allstate Insurance: Sells property and casualty insurance, primarily on buildings and automobiles. Operating revenues include insurance premiums from customers and revenues earned from investments made with cash received from customers before Allstate pays customers claims. Operating expenses include amounts actually paid or expected to be paid in the future on insurance coverage outstanding during the year. C. Best Buy: Operates a chain of retail stores selling consumer electronic and entertainment equipment at competitively low prices. D. E. I. du Pont de Nemours: Manufactures chemical and electronics products. E. Hewlett-Packard: Develops, manufactures, and sells computer hardware. The firm outsources manufacturing of many of its computer components. F. HSBC Finance: Lends money to consumers for periods ranging from several months to several years. Operating expenses include provisions for estimated uncollectible loans (bad debts expense). G. Kelly Services: Provides temporary office services to businesses and other firms. Operating revenues represent amounts billed to customers for temporary help services, and operating expenses include amounts paid to the temporary help employees of Kelly. H. McDonalds: Operates fast-food restaurants worldwide. A large percentage of McDonalds restaurants are owned and operated by franchisees. McDonalds frequently owns the restaurant buildings of franchisees and leases them to franchisees under long-term leases. I. Merck: A leading research-driven pharmaceutical products and services company. Merck discovers, develops, manufactures, and markets a broad range of products to improve human and animal health directly and through its joint ventures. J. Omnicom Group: Creates advertising copy for clients and is the largest marketing services firm in the world. Omnicom purchases advertising time and space from various media and sells it to clients. Operating revenues represent commissions and fees earned by creating advertising copy and selling media time and space. Operating expenses includes employee compensation. K. Pacific Gas Electric: Generates and sells power to customers in the western United States. L. Procter Gamble: Manufactures and markets a broad line of branded consumer products. REQUIRED Use the ratios to match the companies in Exhibit 1.23 with the firms listed above.How many reportable segments do FRUITAS have for year 2021 in accordance with IFRS 8, Operating Segments?
- Yuehua Telecom Inc. and Guangxin Technology Ltd. are two competing ICT corporations based in Shenzhen Special Economic Zone, China. Both companies’ stocks are traded at Shenzhen Stock Exchange. The comparative financial statements of Yuehua and Guangxin for the last four years (2016 – 2019) are shown in the Attachments 1 and 2: Instructions: 1. (A) Calculate the following ratios for each corporation for 2017, 2018, and 2019. Current ratio Sales to total assets ratio Return on total assets ratio Return on shareholders’ equity ratio Gross profit ratio Net profit ratio Debt to equity ratio Earnings per share Price/earnings ratio (B) Evaluate each company’s trends for sales, gross profit, and net income as disclosed on the comparative income statement. 2. What is your evaluation of the following? The liquidity of each corporation. Profitability. The financial structure of each corporation. The stock market’s perceptions of these companies. 3. Which corporation do you…Need an answer for question B (i ii) (b) Obtain the most recent annual reports for TWO FTSE 100 companies of your choice (NOTE: you need to make sure the companies chosen have more than one operational segment and thus have meaningful segment notes for analysis). Examine the segmental disclosures provided in the segment notes of the annual reports by the selected two companies and comment on the following:i. Based on extracts from the segment notes,• how much and what segmental information is provided in the segment notes?• discuss whether the companies are in compliance with the relevant accounting standard, and• discuss the similarities and differences between their disclosure practices. ii. Comment on whether the information is useful and sufficient to allow shareholders to make informed investment decisions Please don't share the answers if possible because it will cause plagiarism. thank you for your support.Select any THREE companies listed in the consumer products and services sector, on the Main Market of Bursa Malaysia. Analyse and compare the companies liquidity and asset management ratios for the financial years 2020, 2021, and 2022. The assignment should highlight the following aspects:Introduction of the selected companies; Calculation of relevant liquidity and asset management ratios;Analysis of the relevant liquidity and asset management ratios; Comparison of the companies financial position; andSummary of the assignment. 1. Clear and detailed introduction of the companies that covers the companies' names, establishment year, company size and business activities. 2. Able to identify and explain clearly all the similarities and differences between the three companies in their liquidity and asset management position. Able to suggest ways to improve the financial position of the companies.
- -A A & Aa- =,三,面 X, A 9. AaBbCcI AaBbCcDx AaBbCc A 2A A 1三。 4. Normal... Strong WPSOffi You are the financial controller of Omega, a listed entity which prepares consolidated financial statements in accordance with International Financial Reporting Standards (IFRS). The chief executive officer (CEO) ofOmega has reviewed the draft consolidated financial statements of the Omega group and of a number ofthe key subsidiary companies for the year ended 31 March 2018. None of the subsidiaries are listed entities but all prepare their financial statements in accordance with IFRS. The CEO has sent you an email with the following queries: Query Two When reading the accounting policies note in the consolidated financial statements I notice that we measure all of our freehold properties using a fair value model but that we measure our plant and equipment using a cost model. I further notice that both of these asset types are shown in the 'property, plant and equipment' figure which is a single…Obtain the most recent annual reports for the company BP plc and British American Tobacco p.l.c . Examine the segmental disclosures provided in the segment notes of the annual reports of the two companies and comment on the following: i. Based on extracts from the segment notes, · how much and what segmental information is provided in the segment notes? · discuss whether the companies are in compliance with the relevant accounting standard, and · discuss the similarities and differences between their disclosure practices. ii. Comment on whether the information is useful and sufficient to allow shareholders to make informed investment decisions. iii. Discuss the implications of your analysis and findings, such as policy implications.Yuehua Telecom Inc. and Guangxin Technology Ltd. are two competing ICT corporations based in Shenzhen Special Economic Zone, China. Both companies’ stocks are traded at Shenzhen Stock Exchange. The comparative financial statements of Yuehua and Guangxin for the last four years (2016 – 2019) are shown in the Attachments 1 and 2: Instructions: 1. (A) Calculate the following ratios for each corporation for 2017, 2018, and 2019. Return on shareholders’ equity ratio Gross profit ratio Net profit ratio Note: There are two attachments are attached velow. Attachment 1: Comparative Statement of Financial Position Attachment 2: Comparative income statement
