Resolucion caso pharmacia

PHARMACIA

Incomes, Expenses, Sales, cost of sales, general cost, sales cost,

Mainly because there are investyors and managers that need financial information in order to perform certain actions, and input from statements are needed to be classified

You should certainly try to exclude the unusal items when evaluating values of the statement

The estimate will differ since there is a lotof market data that may cause the market price to vary, expectations, valuing from analysts, etc.

LUCENT

Revenues are the amount of money received for goods or services provided, generally the recognition is described by industry in the GAAP, but related to who has the ownership of the good or if the service has been provided or certainty of rendering of the service, while gains are not yetrecognized

Recognize is when you state in your financials the money you earned from that product or service, you should account the revenue and the cost

Lucent revenue recognition is stated in its financial policy and follows GAAP

They usually try to follow their own self serving revenue recognition to increase ther sales, achieve their objectives, earn their bonus, etc.

MAPLE LEAFGARDENS

Main users of financial reports are managers, investors or analysts that need to gain perspective or interpretation on how a company is doing, in order to help them make decisions affecting the company´s operations or investments in the company. Management employees use the statements to guide management decisions. As well there are government agencies or regulators will review thestatements and ensure company complies with all regulations.

From my point of view accrual accounting is more accurate to reflect company activities and provides a better measure of updated performance. Cash is really important but definitely not as an accounting procedure. Maple Leaf uses accrual based accounting

Going concern is stated as the definition company does in the intent of operatingin the foreseeable future, and will realize accounting as stated in the normal course of operations. As this is an assumption in the maple leaf gardens it is assumed to continue operations in the foreseeable future.

Generally public companies report financial statements quarterly and annually.

My perspective is that at that point of the year they must be ending an important cycle, could bethe hockey season, or some legal season in Canada, in general if companies can align their fiscal year they use a moment when they have realized al their revenues and recognized all the expenses.

I think there’s a positive and negative point in increasing the frequency it can increases the relevance for sure, and can reduce the chance of error in forecasting, but can increase the workload, fromcompleting financial statements monthly that could lead to a lot of assumptions that can affect the accuracy of the figures.

I think companies have to in first place follow industry-specific GAAP rules to leverage comparison among companies, as well, a better financial culture in the entire organization can lead to a better interpretation and communication from company directors that provideinformation to the public, as well using an external party to audit the level of compliance is a good tool to help the reliability of financial statements.

Assets ate the investments of the company, also known as, owned or controlled items to generate revenue. Maple leaf examples are cash, interest-bearing deposits, the stadium, etc.

Liabilities are the financing items of those investments,also known as, probable future sacrifices of economic benefits from present obligations. Maple Leafs examples are accounts payable, taxes owned, etc.

Owners Equity is the interest of the assets after reducing liabilities, Maple Leaf equities com from stock and retained earnings throughout the time.

Investment by owners are increases in the company assets following-on from transfers from...