Section 2 - Cash and Cash Equivalents & Balance Sheet

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Section 2 - Cash and Cash Equivalents & Balance Sheet"

Transcription

1 Section 2 - Cash and Cash Equivalents & Balance Sheet 12-1 Cash Currency and coins Balances in checking accounts Items for deposit such as checks and money orders from customers Cash equivalents are short-term (original maturity of 90 days or less from the date of purchase), highly liquid investments that can be readily converted to cash. Money market funds Treasury bills Commercial paper Commercial Paper: a short term note issued by corporations with good credit ratings. Often issued in 5k & 10k denominations. They generally yield a higher rate then T bills.

2 12-2 Summary of Cash-Related Items Note: Short-term paper: e.g., CDs (7 days up to 90 days)

3 Restricted Cash and Compensating Balances Restricted Cash Management s intent to use a certain amount of cash for a specific purpose future plant expansion, future payment of debt. If material, the restricted cash should be classified as investments and funds or other assets. Compensating Balance Minimum balance that must be maintained in a company s bank account as support for funds borrowed from the bank. It results in a higher effective borrowing rate for the borrower. 12-3

4 Reporting Cash Restricted Cash Companies state separately legally restricted cash from regular cash Examples, restricted for: (1) plant expansion, (2) retirement of long-term debt, and (3) compensating balances (lenders require customers to maintain minimum cash balances in checking or savings account, record as cash on deposit maintained as compensating balance ; report as noncurrent assets in either investment or other assets section, if it is set up against long term borrowing.). Example: Listed as Restricted Cash and investments (with footnotes) e.g., 1,000,000 are primarily cash received from singers for nomination and entry fees to be applied to upcoming talent show, winnings held in trust for contestants.

5 12-5 Reporting Cash Bank Overdrafts Company writes a check for more than the amount in its cash account. Generally reported as a current liability. Offset against other cash accounts only when accounts are with the same bank (right of offset).

6 U.S. GAAP vs. IFRS 12-6 In general, cash and cash equivalents are treated similarly under IFRS and U.S. GAAP. One difference is highlighted below. Bank overdrafts are treated as liabilities. Bank overdrafts may be offset against other cash accounts.

7 Bank Reconciliation 12-7 A bank reconciliation explains the difference between cash reported on bank statement and cash balance on a company s books. Provides information for reconciling journal entries. Bank Balance + Deposits in Transit - Outstanding Checks ± Bank Errors = Corrected Balance Book Balance + Bank Collections - Service Charges - NSF Checks ± Book Errors = Corrected Balance

8 Reconciliation of Bank Balances 12-8

9 Investments Nature of Investments 12-9 Bonds and notes (Debt securities) Stock - Common & preferred (Equity securities) Investments can be accounted for in a variety of ways, depending on the nature of the investment relationship.

10 12-10 Types of Securities Invested or Equity Securities & Classification: & Reporting Method:, Fair Value Method, Equity Method, Consolidation

11 12-11 The Balance Sheet The Balance Sheet Reports a company s financial position on a particular date. Limitations: The balance sheet does not portray the market value of the entity as a going concern nor its liquidation value. Resources (soft skills) such as employee skills and reputation are not recorded in the balance sheet. Usefulness: The balance sheet describes many of the resources a company has for generating future cash flows. It provides liquidity information useful in assessing a company s ability to pay its current obligations. It provides long-term solvency information relating to the riskiness of a company with regard to the amount of liabilities in its capital structure.

12 12-12 Dell Inc. Balance Sheet (In millions) January 28, 2011 January 29, 2010 Assets: Current assets: Cash and cash equivalents $ 13,913 $ 10,635 Short-term investments Accounts receivables, net 6,493 5,837 Financing receivables, net 3,643 2,706 Inventories, net 1,301 1,051 Other current assets 3,219 3,643 Total current assets 29,021 24,245 Property, plant, and equipment, net 1,953 2,181 Investments Long-term financing receivables, net Goodwill 4,365 4,074 Purchased intangible assets, net 1,495 1,694 Other non-current assets Total Assets $ 38,599 $ 33,652

13 Current Assets Current Assets Will be converted to cash or consumed within one year or the operating cycle, whichever is longer. 1. Cash 2. Cash Equivalents 3. Short-term Investments 4. Receivables 5. Inventories 6. Prepaid Expenses Cash equivalents include certain negotiable items such as: commercial paper, money market funds, & U.S. treasury bills. Commercial Paper: Short-term unsecured debt sold by corporations; it is the principal marketable security.

14 12-14 Balance Sheet Current Assets Cash Generally any monies available on demand. Cash equivalents - short-term highly liquid investments that mature within 3 months or less. Restrictions (CD used as collateral for debt service) or commitments must be disclosed.

15 12-15 Balance Sheet Current Assets Short-Term Investments Portfolios Type Valuation Classification Held-to- Maturity Debt Amortized Cost Current or Noncurrent Trading Debt or Equity Fair Value Current Availablefor-Sale Debt or Equity Fair Value Current or Noncurrent Trading: frequent buying and selling in a short period of time; is part of net income. Available-for-Sale: unrealized gains & losses recorded as OCI; report in OCI Stmt. Held-to-Maturity: 1. Positive intend 2. the ability to hold. Do not adjust to FV.

16 Operating Cycle of a Typical Manufacturing Company Use cash to acquire raw materials Convert raw materials to finished product Sell product to customer A/R Collect cash from customer

17 Noncurrent Assets Noncurrent Assets Not expected to be converted to cash or consumed within one year or the operating cycle, whichever is longer. 1. Investments (bonds, stocks, LT notes; land held for speculation) 2. Property, Plant, & Equipment 3. Intangible Assets 4. Other Assets (deferred charges, i.e., long-term prepaid expenses or expenditure that will yield benefit for several acctg periods; e.g., start- up costs, organization costs, bond issuance costs)

18 Investments 1. Not used in the operations of the business. Noncurrent Assets 2. Include both debt and equity securities of other corporations, land held for speculation, noncurrent receivables, and cash set aside for special purposes. Property, Plant, and Equipment 1. Are tangible, long-lived, and used in the operations of the business. 2. Include land, buildings, equipment, machinery, and furniture as well as natural resources such as mineral mines, timber tracts, and oil wells. 3. Reported at original cost less accumulated depreciation (or depletion for natural resources), except for land which is not depreciated. Intangible Assets 1. Used in the operations of the business but have no physical substance. 2. Include patents, copyrights, and franchises. 3. Reported net of accumulated amortization. Other Assets Include long-term prepaid expenses and any noncurrent assets not falling in to one of the other classifications.

19 12-19 Balance Sheet Noncurrent Assets Long-Term Investments Securities bonds, stock, and long-term notes For marketable securities, management s intent determines current or noncurrent classification. Balance Sheet (in thousands) Current assets Cash $ 285,000 Investments: Invesment in ABC bonds 321,657 Investment in UC Inc. 253,980 Notes receivable 150,000 Land held for speculation 550,000 Sinking fund 225,000 Pension fund 653,798 Cash surrender value 84,321 Investment in Uncon. Sub. 457,836 Total investments 2,696,592 Property, Plant, and Equip. Building 1,375,778 Land 975,000

20 Balance Sheet Liabilities Dell Inc. Balance Sheet (In milions) January 28, 2011 January 29, 2010 Liabilities: Current liabilities: Short-term debt $ 851 $ 663 Accounts payable 11,293 11,373 Accrued and other 4,181 3,884 Short-term deferred service revenue 3,158 3,040 Total current liabilities 19,483 18,960 Long-term debt 5,146 3,417 Long-term deferred service revenue 3,518 3,029 Other non-current liabilities 2,686 2,605 Total liabilities $ 30,833 $ 28, Liabilities represent obligations to other entities. The information value of reporting these amounts is enhanced by classifying them as current liabilities and long-term liabilities.

21 12-21 Current Liabilities Current Liabilities 1. Accounts Payable 2. Notes Payable 3. Accrued Liabilities 4. Unearned Revenues 5. Current Maturities of Long-Term Debt Obligations expected to be satisfied through current assets or creation of other current liabilities within one year or the operating cycle, whichever is longer.

22 12-22 Long-Term Liabilities Long-Term Liabilities 1. Long-term Notes 2. Mortgages 3. Long-term Bonds 4. Pension Obligations 5. Lease Obligations Obligations that will not be satisfied within one year or the operating cycle, whichever is longer.

23 Short-Term Obligations Expected to be Refinanced May reclassify a short-term liability as long-term if 2 conditions are met: It has the intent to refinance on a long-term basis. and It has demonstrated the ability to refinance. The ability to refinance on a long-term basis can be demonstrated by an existing refinancing agreement, or actual financing prior to issuance of the financial statements.

24 12-24 U.S. GAAP vs. IFRS Classification of Liabilities to be Refinanced Liabilities payable within the coming year are classified as long term liabilities if refinancing is completed before date of issuance of the financial statements. Liabilities payable within the coming year are classified as long term liabilities if refinancing is completed before the balance sheet date (year end date).

25 Balance Sheet Stockholders Equity Dell Inc. Balance Sheet (In millions) January 28, 2011 January 29, 2010 Stockholders' equity Common stock and capital in excess of $.01 par value; shares authorized: 7,000; shares issued: 3,369 and 3,351, respectively; shares outstanding: 1,918 and 1,957, respectively 11,797 11,472 Treasury stock, at cost: 976 and 919 shares, respectively (28,704) (27,904) Retained earnings 24,744 22,110 Accumulated other comprehensive (loss) (71) (37) Total stockholders' equity $ 7,766 $ 5,641 Shareholders equity is the residual interest in the assets of an entity that remains after deducting liabilities.

26 Multiple Step Income Statement & Comprehensive Income An income statement for a hypothetical manufacturing co. that you can refer to as we proceed through the chapter. Objective: to gain a general perspective of the items reported and classifications contained in corporate income statements. Note: Dividend revenue: other income

27 Operating versus Non-operating Income Operating Income Non-operating Income Includes revenues and expenses directly related to the principal revenuegenerating activities of the company (e.g., gains or losses from selling equipment & other assets used in generating the revenue) Includes certain gains and losses related to peripheral or incidental activities of the company (e.g., selling investment; special gains & losses that are infrequent or unusual, but not both.)

28 12-28 Income Statement (Single-Step) Proper Heading Revenues & Gains Expenses & Losses

29 Income Statement (Multiple-Step) Proper Heading Gross Profit Operating Expenses Nonoperating Items

30 12-30 U. S. GAAP vs. IFRS There are more similarities than differences between income statements prepared according to U.S. GAAP and those prepared applying IFRS. Some differences are highlighted below. Has no minimum requirements. SEC requires that expenses be classified by function (cost of goods sold, general & admin ). Bottom line called net income or net loss. Report extraordinary items separately. Specifies certain minimum information to be reported on the face of the income statement. Allows expenses classified by function or natural description (salaries, rent ). Bottom line called profit or loss. Prohibits reporting extraordinary items.

31 Discontinued Operations As part of the continuing process to converge U.S. GAAP and international standards, the FASB and IASB have been working together to develop a common definition and a common set of disclosures for discontinued operations The proposed ASU (Accounting Standards Updates) defines a discontinued operation as a component that either (a) has been disposed of or (b) is classified as held for sale, & represents one of the following: 1. a separate major line of business or major geographical area of operations, or 2. part of a single coordinated plan to dispose of a separate major line of business or geographical area of operations, or 3. a business that meets the criteria to be classified as held for sale on acquisition.

32 Reporting Discontinued Operations Reporting for Components Sold Income or loss from operations of the component from the beginning of the reporting period to the disposal date. 2. Gain or loss on the disposal of the component s assets. Reporting for Components Held For Sale 1. Income or loss from operations of the component from the beginning of the reporting period to the end of the reporting period. 2. An impairment loss if asset s carrying value (book value) > ( fair value - cost to sell, i.e., net realizable value). 1 & 2 can be combined or separately reported. If combined, the impairment loss must be disclosed.

33 Extraordinary Items An extraordinary item is a material event or transaction that is both: 1.Unusual in nature, and 2.Infrequent in occurrence Extraordinary items are reported net of related taxes

34 U. S. GAAP vs. IFRS The scarcity of extraordinary gains and losses reported in corporate income statements and the desire to converge U.S. and international accounting standards could guide the FASB to the elimination of the extraordinary item classification. Report extraordinary items separately in the income statement. Prohibits reporting extraordinary items in the income statement or notes.

35 12-35 Special Reporting Issues Earnings Per Share: In 2012, Hollis Corporation reported net income of $1,000,000. It declared and paid preferred stock dividends of $250,000. During 2012, Hollis had a weighted average of 190,000 common shares outstanding. Compute Hollis s 2012 earnings per share. Net income - Preferred dividends Weighted average number of shares outstanding $1,000, ,000 - $250,000 = $3.95 per share

36 Special Reporting Issues Divide by weightedaverage shares outstanding (given info: 100,000 shares) EPS

37 Earnings Per Share Disclosure One of the most widely used ratios is earnings per share (EPS), which shows the amount of income earned by a company s each share of common stock. Must be disclosed on the income statement Basic EPS Diluted EPS Net income - preferred dividends Weighted-average number of common shares outstanding for the period Reflects the potential dilution that could occur for companies that have certain securities outstanding that are convertible into common shares or stock options that could create additional common shares if the options were exercised.

38 Special Reporting Issues Comprehensive Income Comprehensive Income: is the changes in equity during a period from nonowner sources. Excludes: those resulting from investments by owners and distributions to owners. It is a broader measure of the effects of all recognized changes except investments by and distributions to owners. Includes: all gains and losses that bypass net income but affect stockholders equity; i.e., other comprehensive income (e.g., unrealized gains or losses from Held-to-maturity Securities). Notes: Earnings or net income is a measure of entity performance, the extent to which asset inflows (revenues & gains) exceed asset outflows (expense & losses) during the period.

39 Income Statement (in thousands) Special Reporting Issues Comprehensive Income Sales $ 285,000 Cost of goods sold 149,000 Gross profit 136,000 Operating expenses: Selling expenses 10,000 Administrative expenses 43,000 Total operating expense 53,000 Income from operations 83,000 Other revenue (expense): Interest revenue 17,000 Interest expense (21,000) Total other (4,000) Income before taxes 79,000 Income tax expense 24,000 Net income $ 55,000 + Other Comprehensive Income Unrealized gains and losses on available-forsale securities. Translation gains and losses on foreign currency (OCI). Pension adjustments (OCI) Reported in Stockholders Equity PBO > Expected: Loss PBO < Expected: Gain Return on Plan Assets > Expected: Gain Return on Plan Assets < Expected: Loss These Gains and Losses are not reported as Pension Expense, instead, they are reported as OCI, a shareholder equity account.

40 12-40 Special Reporting Issues Review Gains and losses that bypass net income but affect stockholders' equity are referred to as a. comprehensive income. b. other comprehensive income. c. prior period income. d. unusual gains and losses.

41 12-41 Special Reporting Issues Companies must display the components of other comprehensive income in one of three ways: 1. A 2nd separate income statement; 2. A combined income statement of comprehensive income; or 3. As part of the statement of stockholders equity

42 12-42 Special Reporting Issues Comprehensive Income Illustration nd income statement

43 12-43 Special Reporting Issues Comprehensive Income Combined statement Other comprehensive income V. Gill Inc. Combined Statement of Comprehensive Income For the Year Ended December 31, 2012 Sales revenue $ 800,000 Cost of goods sold 600,000 Gross profit 200,000 Operating expenses 90,000 Net income 110,000 Unrealized holding gain, net of tax 30,000 Comprehensive income $ 140,000

44 12-44 Special Reporting Issues Comprehensive Income As part of Statement of Stockholder s Equity For the Year Ended December 31, 2012 V. Gill Inc. Statement of Stockholders' Equity Retained Earning - Beginning balance 50,000 Net income 120,000 Dividend -10,000 Retained Earning - Ending balance 160,000 Accumulated Other Comprehensive Income 90,000 NOT: Net of Taxes (assuming $90,000 AOCI includes $30,000 OCI).

45 Special Reporting Issues Comprehensive Income Balance Sheet Presentation Regardless of the display format used, the accumulated other comprehensive income of $90,000 is reported in the stockholders equity section of the balance sheet.

46 3 N 2 E 1 D 4 T Other Comprehensive Income Comprehensive income includes traditional net income as well as following 4 additional gains and losses that change shareholders equity: ($ in millions) Net income $xxx Other comprehensive income: Net unrealized holding gains (losses) on investments (net of tax)* $x Gains (losses) from and amendments to postretirement benefit plans (net of tax) (x) Deferred gains (losses) from derivatives (net of tax) (x) Gains (losses) from foreign currency translation (net of tax) x xx Comprehensive income $xxx *Changes in the market value of certain investments (). Gains and losses due to revising assumptions or market returns differing from expectations and prior service cost from amending the plan (). When a derivative designated as a cash flow hedge is adjusted to fair value, the gain or loss is deferred as a component of comprehensive income and included in earnings later, at the same time as earnings are affected by the hedged transaction (). Gains or losses from changes in foreign currency exchange rates. The amount could be an addition to or reduction in shareholders equity. ()

47 U. S. GAAP vs. IFRS Both U.S. GAAP and IFRS allow companies to report comprehensive income in either a single statement of comprehensive income or in two separate statements. Other comprehensive income items are similar under the two sets of standards Includes four possible Other Comprehensive Income items. Includes same four. Includes a fifth possible item, changes in revaluation surplus, from the optional revaluation of property, plant, and equipment & intangible assets.

48 Accumulated Other Comprehensive Income In addition to reporting comprehensive income that occurs in the current period, we must also report these amounts on a cumulative basis in the balance sheet as an additional component of shareholders equity. This is consistent with the way we report net income that occurs in the current reporting period in the income statement and also report accumulated net income (that hasn t been distributed as dividends) in the balance sheet as retained earnings. Similarly, we report OCI as it occurs in the current reporting period and also report accumulated other comprehensive income (AOCI) in the balance sheet. ASTRO-MED INC. Consolidated Balance Sheets (in part) Years ended January 31 ($ in thousands) Shareholders equity: Common stock Additional paid-in capital 36,586 34,713 Retained earnings 26,843 26,817 Accumulated other comprehensive income Treasury stock (9,840) (8,030) Total shareholders equity $54,288 $54,233

Section 2 - Cash and Cash Equivalents & Balance Sheet

Section 2 - Cash and Cash Equivalents & Balance Sheet Section 2 - Cash and Cash Equivalents & Balance Sheet 12-1 Cash Currency and coins Balances in checking accounts Items for deposit such as checks and money orders from customers Cash equivalents are short-term

More information

C H A P T E R 5 BALANCE SHEET AND STATEMENT OF CASH FLOWS. Balance Sheet and Statement of of Cash Flows. Usefulness of the Balance Sheet

C H A P T E R 5 BALANCE SHEET AND STATEMENT OF CASH FLOWS. Balance Sheet and Statement of of Cash Flows. Usefulness of the Balance Sheet C H A P T E R 5 BALANCE SHEET AND STATEMENT OF CASH FLOWS Intermediate Accounting 13th Edition Kieso, Weygandt, and Warfield 5-1 5-2 Balance Sheet and Statement of of Cash Flows Balance Sheet Balance Sheet

More information

PREVIEW OF CHAPTER Slide 4-2

PREVIEW OF CHAPTER Slide 4-2 4-1 PREVIEW OF CHAPTER 4 4-2 Intermediate Accounting IFRS 2nd Edition Kieso, Weygandt, and Warfield 4 Related Information Income Statement and LEARNING OBJECTIVES After studying this chapter, you should

More information

Page 1 of 10 Ehab Abdou ( )

Page 1 of 10 Ehab Abdou ( ) Statement of Financial Position, also referred to as the balance sheet: 1. Reports assets, liabilities, and equity at a specific date. 2. Provides information about resources, obligations to creditors,

More information

Financial Statements. M. En C. Eduardo Bustos Farías

Financial Statements. M. En C. Eduardo Bustos Farías Understanding 1 Financial Statements M. En C. Eduardo Bustos Farías 2 Objectives 1. Define the elements of financial statements. 3 Balance Sheet It It also is is called a statement of of financial position.

More information

April Grant Thornton LLP All rights reserved U.S. member firm of Grant Thornton International Ltd

April Grant Thornton LLP All rights reserved U.S. member firm of Grant Thornton International Ltd Comparison between and International Financial Reporting Standards April 2016 Comparison between and International Financial Reporting Standards 2 Contents 1. Introduction... 5 International standards

More information

3. Financial statements should present information in a manner that:

3. Financial statements should present information in a manner that: ATTACHMENT E Exhibit 1 FINANCIAL STATEMENT PRESENTATION PROJECT Phase B: Summary of Tentative Preliminary Views and Illustrative Sample Financial Statements Reflective of Meetings through May 16, 2007

More information

Digging Into The Balance Sheet and Income Statement. The Balance Sheet

Digging Into The Balance Sheet and Income Statement. The Balance Sheet Digging Into The Balance Sheet and Income Statement Jim Menard, CCE email: jsmenard62@gmail.com The Balance Sheet Also called the statement of condition or statement of financial position Financial Condition

More information

Digital River, Inc. First Quarter Results (In thousands, except share data) Subject to reclassification

Digital River, Inc. First Quarter Results (In thousands, except share data) Subject to reclassification (In thousands, except share data) Consolidated Balance Sheets (Unaudited) December 31, Assets Current assets Cash and cash equivalents $ 500,742 $ 542,851 Short-term investments 144,615 162,794 Accounts

More information

As of December 31, As of. Assets Current assets:

As of December 31, As of. Assets Current assets: CONSOLIDATED BALANCE SHEETS (In millions, except share and par value amounts which are reflected in thousands, and par value per share amounts) Assets Current assets: As of December 31, 2011 As of December

More information

FAR EASTERN DEPARTMENT STORES, LTD. BALANCE SHEETS December 31, 2012 AND 2011 (In thousands of New Taiwan Dollars, Expect Par Value)

FAR EASTERN DEPARTMENT STORES, LTD. BALANCE SHEETS December 31, 2012 AND 2011 (In thousands of New Taiwan Dollars, Expect Par Value) FAR EASTERN DEPARTMENT STORES, LTD. BALANCE SHEETS December 31, AND (In thousands of New Taiwan Dollars, Expect Par Value) / 12/31 / 12/31 / 12/31 / 12/31 C o d e ASSETS Amount % Amount % C o d e LIBILITIES

More information

Comparison between U.S. GAAP and International Financial Reporting Standards

Comparison between U.S. GAAP and International Financial Reporting Standards Comparison between and International Financial Reporting Standards April 2014 Comparison between and International Financial Reporting Standards 2 Contents 1. Introduction... 6 International standards

More information

Google Inc. CONSOLIDATED BALANCE SHEETS

Google Inc. CONSOLIDATED BALANCE SHEETS Google Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share and par value amounts which are reflected in thousands,and par value per share amounts) As of December 31, 2013 As of March 31, 2014 Assets

More information

(Expressed in Thousands of New Taiwan Dollars)

(Expressed in Thousands of New Taiwan Dollars) Consolidated Balance Sheets, 2017, December 31, 2016, and, 2016, 2017 December 31, 2016 (Audited), 2016 Assets Amount % Amount % Amount % Current assets: 1100 Cash and cash equivalents $ 27,532,003 18

More information

H&R BLOCK KEY OPERATING RESULTS Unaudited, amounts in thousands, except per share data

H&R BLOCK KEY OPERATING RESULTS Unaudited, amounts in thousands, except per share data KEY OPERATING RESULTS Unaudited, amounts in thousands, except per share data Three months ended April 30, Revenues Income (loss) 2007 2006 2007 2006 Tax Services $ 1,910,370 $ 1,764,774 $ 965,145 $ 883,340

More information

(Expressed in Thousands of New Taiwan Dollars)

(Expressed in Thousands of New Taiwan Dollars) 4 (English Translation of Consolidated Financial Statements and Report Originally Issued in Chinese) as of March 31, 2017 and 2016 Consolidated Balance Sheets March 31, 2017, December 31, 2016, and March

More information

Reading & Understanding Financial Statements

Reading & Understanding Financial Statements Reading & Understanding Financial Statements A Guide to Financial Reporting Introduction Financial statements are an important management tool. When correctly prepared and properly interpreted, they contribute

More information

Digital River, Inc. Second Quarter Results (Unaudited, in thousands) Subject to reclassification

Digital River, Inc. Second Quarter Results (Unaudited, in thousands) Subject to reclassification (Unaudited, in thousands) Condensed Consolidated Balance Sheets As of December 31, 2008 2007 Assets: Current assets Cash and cash equivalents $ 276,927 $ 381,788 Short-term investments 201,297 315,636

More information

ServiceNow, Inc. Condensed Consolidated Statements of Operations (in thousands, except share and per share data) (Unaudited)

ServiceNow, Inc. Condensed Consolidated Statements of Operations (in thousands, except share and per share data) (Unaudited) Condensed Consolidated Statements of Operations (in thousands, except share and per share data) Revenues: Subscription $ 179,907 $ 117,375 Professional services and other 32,057 21,715 Total revenues 211,964

More information

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 10-Q (Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period

More information

Reading Understanding. Financial Statements. A Layman s Guide to Financial Reporting

Reading Understanding. Financial Statements. A Layman s Guide to Financial Reporting Reading Understanding & Financial Statements A Layman s Guide to Financial Reporting 1 Introduction Financial statements are an important management tool. When correctly prepared and properly interpreted,

More information

Financial Statement Balance Sheet

Financial Statement Balance Sheet Financial Statement Balance Sheet Provided by: RUENTEX INDUSTRIES LIMITED Finacial year: Yearly Accounting Title 2016/12/31 Balance Sheet Assets Current assets Cash and cash equivalents Total cash and

More information

United States Securities and Exchange Commission Washington, D.C FORM 10 Q

United States Securities and Exchange Commission Washington, D.C FORM 10 Q United States Securities and Exchange Commission Washington, D.C. 20549 FORM 10 Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended

More information

ASC605 to ASC606 Transition

ASC605 to ASC606 Transition ASC605 to ASC606 Transition Summary Workday Adoption Background Workday has elected early adoption of ASC606 (as of 2/1/2017) Full retrospective adoption method (FY16 & FY17 restated) FY17 has also been

More information

ServiceNow, Inc. Condensed Consolidated Statements of Operations (in thousands, except share and per share data) (Unaudited)

ServiceNow, Inc. Condensed Consolidated Statements of Operations (in thousands, except share and per share data) (Unaudited) Condensed Consolidated Statements of Operations (in thousands, except share and per share data) September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 Revenues: Subscription $ 318,934

More information

Alphabet Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share amounts which are reflected in thousands and par value)

Alphabet Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share amounts which are reflected in thousands and par value) Assets Current assets: Alphabet Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share amounts which are reflected in thousands and par value) As of December 31, 2015 As of 2016 (unaudited) Cash and

More information

Chapter 12 - Reporting and Analyzing Cash Flows. Chapter Outline

Chapter 12 - Reporting and Analyzing Cash Flows. Chapter Outline I. Basics of Cash Flow Reporting A. Purpose of the Statement of Cash Flows To report cash receipts (inflows) and cash payments (outflows) during a period. This report classifies cash flows into operating,

More information

November 7, 2017 CONSOLIDATED FINANCIAL RESULTS for the First Six Months of the Fiscal Year Ending March 31, 2018 <under Japanese GAAP>

November 7, 2017 CONSOLIDATED FINANCIAL RESULTS for the First Six Months of the Fiscal Year Ending March 31, 2018 <under Japanese GAAP> Translation Notice: This English version is a translation of the original Japanese document and is only for reference purposes. In the case where any differences occur between the English version and the

More information

PACCAR Inc (Exact name of registrant as specified in its charter)

PACCAR Inc (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended

More information

H&R BLOCK KEY OPERATING RESULTS Unaudited, amounts in thousands, except per share data

H&R BLOCK KEY OPERATING RESULTS Unaudited, amounts in thousands, except per share data KEY OPERATING RESULTS Unaudited, amounts in thousands, except per share data Revenues Income (loss) Tax Services $ 91,425 $ 91,645 $ (169,483) $ (174,624) Business Services 167,263 174,710 (92,541) (433)

More information

CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, Direction de la CONSOLIDATION REPORTING GROUPE

CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, Direction de la CONSOLIDATION REPORTING GROUPE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2010 Direction de la CONSOLIDATION REPORTING GROUPE CONSOLIDATED BALANCE SHEET Notes Dec. 31, 2010 Dec. 31, 2009 ASSETS Goodwill (3) 11,030 10,740 Other intangible

More information

CHAPTER 12 STATEMENT OF CASH FLOWS

CHAPTER 12 STATEMENT OF CASH FLOWS CHAPTER 12 STATEMENT OF CASH FLOWS Key Terms and Concepts to Know The Statement of Cash Flows reports the sources of cash inflows and cash outflow during an accounting period. The inflows and outflows

More information

FINANCIAL RESULTS FOR THE YEAR ENDED MARCH 2014

FINANCIAL RESULTS FOR THE YEAR ENDED MARCH 2014 FINANCIAL RESULTS FOR THE YEAR ENDED MARCH 2014 (IFRS) Mitsubishi Corporation 2-3-1 Marunouchi, Chiyoda-ku, Tokyo, JAPAN 100-8086 http://www.mitsubishicorp.com/ June 30, 2014 Mitsubishi Corporation 1.

More information

Financial Section. 57 Consolidated Balance Sheets. 59 Consolidated Statements of Operations. 60 Consolidated Statements of Comprehensive Income

Financial Section. 57 Consolidated Balance Sheets. 59 Consolidated Statements of Operations. 60 Consolidated Statements of Comprehensive Income Financial Section 57 Consolidated Balance Sheets 59 Consolidated Statements of Operations 60 Consolidated Statements of Comprehensive Income 61 Consolidated Statements of Changes in Net Assets 63 Consolidated

More information

CORNING INCORPORATED AND SUBSIDIARY COMPANIES CONSOLIDATED STATEMENTS OF (LOSS) INCOME (Unaudited; in millions, except per share amounts)

CORNING INCORPORATED AND SUBSIDIARY COMPANIES CONSOLIDATED STATEMENTS OF (LOSS) INCOME (Unaudited; in millions, except per share amounts) CONSOLIDATED STATEMENTS OF (LOSS) INCOME (Unaudited; in millions, except per share amounts) Three months ended 2016 2015 sales $ 2,047 $ 2,265 Cost of sales 1,283 1,336 Gross margin 764 929 Operating expenses:

More information

DELL INC. Condensed Consolidated Statement of Income and Related Financial Highlights (in millions, except per share data and percentages) (unaudited)

DELL INC. Condensed Consolidated Statement of Income and Related Financial Highlights (in millions, except per share data and percentages) (unaudited) Condensed Consolidated Statement of Income and Related Financial Highlights (in millions, except per share data and percentages) Three Months Ended % Growth Rates February 3, October 28, January 28, 2012

More information

ANSWER SHEET EXAMINATION #1 29) Problem 1 30) 31) 32) 33) 34) 35) 36) 37) 10) 38) 11) 12) Problem 2 Problem 3 Problem 4 13) 14) 15) 16) 17) 18) 19)

ANSWER SHEET EXAMINATION #1 29) Problem 1 30) 31) 32) 33) 34) 35) 36) 37) 10) 38) 11) 12) Problem 2 Problem 3 Problem 4 13) 14) 15) 16) 17) 18) 19) ANSWER SHEET EXAMINATION #1 1) B 29) A Problem 1 2) B 30) D B 01 3) D 31) B A 02 4) D 32) B D 03 5) C 33) A A 04 6) C 34) C B 05 7) B 35) B A 06 8) B 36) B B 07 9) D 37) D C 08 10) B 38) D C 09 11) D D

More information

FAQ: Statement of Cash Flows

FAQ: Statement of Cash Flows Question 1: What sources are used when the statement of cash flows is being prepared, and what information does each source provide? Answer 1: The statement of cash flows is prepared differently from the

More information

Statement of Cash Flows

Statement of Cash Flows CHAPTER 14 Statement of Cash Flows LEARNING OBJECTIVES After you have mastered the material in this chapter, you will be able to: 1 Prepare the operating activities section of a statement of cash flows

More information

ANALYSIS OF FINANCIAL ACCOUNTING METHODOLOGIES AND APPLICATIONS. By: Kate Culbertson. Oxford May 2017

ANALYSIS OF FINANCIAL ACCOUNTING METHODOLOGIES AND APPLICATIONS. By: Kate Culbertson. Oxford May 2017 ANALYSIS OF FINANCIAL ACCOUNTING METHODOLOGIES AND APPLICATIONS By: Kate Culbertson A thesis submitted to the faculty of The University of Mississippi in partial fulfillment of the requirements of the

More information

FASB Update Private Company Focus

FASB Update Private Company Focus FASB Update Private Company Focus RKL Accounting & Auditing Conference Michael Cheng, PCC Coordinator The views expressed in this presentation are those of the presenters. Official positions of the FASB

More information

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Hitachi Chemical Co., Ltd. and Consolidated Subsidiaries For the Years Ended March 31, 2006, 2005 and 2004

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Hitachi Chemical Co., Ltd. and Consolidated Subsidiaries For the Years Ended March 31, 2006, 2005 and 2004 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Hitachi Chemical Co., Ltd. and Consolidated Subsidiaries For the Years Ended March 31, 2006, 2005 and 2004 1. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT

More information

Chapter 3: Accounting and Finance

Chapter 3: Accounting and Finance FIN 301 Class Notes Chapter 3: Accounting and Finance INTRODUCTION Accounting Function: Gathering, processing, and reporting data. End result is a set of four financial statements 1- Balance sheet 2-Income

More information

As of December 31, As of December 31, (unaudited)

As of December 31, As of December 31, (unaudited) Google Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share and par value amounts which are reflected in thousands,and par value per share amounts) As of December 31, 2012 As of December 31, 2013

More information

Financial supplement NPM/CNP. Compagnie Nationale à Portefeuille Nationale PortefeuilleMaatschappij

Financial supplement NPM/CNP. Compagnie Nationale à Portefeuille Nationale PortefeuilleMaatschappij Financial supplement 2004 NPM/CNP Compagnie Nationale à Portefeuille Nationale PortefeuilleMaatschappij CONSOLIDATED ANNUAL ACCOUNTS Page Statutory auditor's report 2 Consolidated income statement 4 Consolidated

More information

EL PASO NATURAL GAS COMPANY, L.L.C. CONSOLIDATED FINANCIAL STATEMENTS For the Three and Six Months Ended June 30, 2013 and 2012 Unaudited

EL PASO NATURAL GAS COMPANY, L.L.C. CONSOLIDATED FINANCIAL STATEMENTS For the Three and Six Months Ended June 30, 2013 and 2012 Unaudited CONSOLIDATED FINANCIAL STATEMENTS For the Three and Six Months Ended June 30, 2013 and Unaudited TABLE OF CONTENTS Page Number Consolidated Financial Statements Consolidated Statements of Income and Comprehensive

More information

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C FORM 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C FORM 10-Q 10-Q 1 cts-20150927x10q.htm 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE

More information

HONDA MOTOR CO., LTD. AND SUBSIDIARIES. Consolidated Financial Statements. September 30, 2007

HONDA MOTOR CO., LTD. AND SUBSIDIARIES. Consolidated Financial Statements. September 30, 2007 HONDA MOTOR CO., LTD. AND SUBSIDIARIES Consolidated Financial Statements HONDA MOTOR CO., LTD. AND SUBSIDIARIES Consolidated Balance Sheets 2006 and and March 31, Assets September* 30, March* 31, 2006

More information

ITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS

ITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS , INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data) Revenues $ 504,063 $ 615,555 $ 1,654,843 $ 1,791,647 Cost of revenues 332,266 438,559 1,103,196 1,237,722 Gross

More information

ITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS

ITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS , INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data) Revenues $ 523,335 $ 642,477 $ 2,178,178 $ 2,434,124 Cost of revenues 359,835 449,944 1,463,031 1,687,666 Gross

More information

PACCAR Inc (Exact name of registrant as specified in its charter)

PACCAR Inc (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended

More information

Phihong Technology Co., Ltd. Financial Statements for the Years Ended December 31, 2015 and 2014 and Independent Auditors Report

Phihong Technology Co., Ltd. Financial Statements for the Years Ended December 31, 2015 and 2014 and Independent Auditors Report Phihong Technology Co., Ltd. Financial Statements for the Years Ended, 2015 and 2014 and Independent Auditors Report INDEPENDENT AUDITORS REPORT The Board of Directors and Stockholders Phihong Technology

More information

CONSOLIDATED BALANCE SHEET

CONSOLIDATED BALANCE SHEET CONSOLIDATED BALANCE SHEET December 31, 2017 A S S E T S CURRENT ASSETS: Cash and time deposits 31,380 Accounts receivable trade 98,188 Inventories 1,096 Short-term loans receivable 46,282 Deferred tax

More information

CORNING INCORPORATED AND SUBSIDIARY COMPANIES CONSOLIDATED STATEMENTS OF INCOME (Unaudited; in millions, except per share amounts)

CORNING INCORPORATED AND SUBSIDIARY COMPANIES CONSOLIDATED STATEMENTS OF INCOME (Unaudited; in millions, except per share amounts) CONSOLIDATED STATEMENTS OF INCOME (Unaudited; in millions, except per share amounts) Six Months Ended June 30, June 30, 2017 2016 2017 2016 Net sales $ 2,497 $ 2,360 $ 4,872 $ 4,407 Cost of sales 1,512

More information

2016 ANNUAL REPORT MERIDIAN CONSOLIDATED FINANCIAL STATEMENTS

2016 ANNUAL REPORT MERIDIAN CONSOLIDATED FINANCIAL STATEMENTS 2016 ANNUAL REPORT MERIDIAN CONSOLIDATED FINANCIAL STATEMENTS 2016 Annual Report Consolidated Financial Statements 39 Consolidated Financial Statements of Year ended December 31, 2016 2016 Annual Report

More information

CONSOLIDATED US GAAP FINANCIAL STATEMENTS FOR MARCH 31, 2017

CONSOLIDATED US GAAP FINANCIAL STATEMENTS FOR MARCH 31, 2017 CONSOLIDATED US GAAP FINANCIAL STATEMENTS FOR MARCH 31, 2017 Contents: CONSOLIDATED INCOME STATEMENTS CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME CONSOLIDATED BALANCE SHEETS CONSOLIDATED STATEMENTS

More information

Disclosure on transition to IFRS

Disclosure on transition to IFRS - 13 - Disclosure on transition to The Company adopted in preparing its consolidated financial statements for the fiscal year ended March 31, 2017. The date of transition to is April 1, 2015. (1) First-time

More information

SLM CORPORATION Supplemental Earnings Disclosure December 31, 2008 (In millions, except per share amounts)

SLM CORPORATION Supplemental Earnings Disclosure December 31, 2008 (In millions, except per share amounts) SLM CORPORATION Supplemental Earnings Disclosure (In millions, except per share amounts) Quarters ended Years ended (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) SELECTED FINANCIAL INFORMATION

More information

Three Months Ended September 30, 2015 Revenues $ 16,523 $ 18,675 Increase in revenues year over year 20% 13%

Three Months Ended September 30, 2015 Revenues $ 16,523 $ 18,675 Increase in revenues year over year 20% 13% Exhibit 99.1 Alphabet Announces Third Quarter 2015 Results of Google Revenues of $18.7 billion and revenue growth of 13% year over year; constant currency revenue growth of 21% year over year Substantial

More information

2. Reconciliation between Japanese GAAP and IFRS

2. Reconciliation between Japanese GAAP and IFRS 2. Reconciliation between Japanese GAAP and IFRS Reconciliation of assets, liabilities, and equity as of March 31, 2016 and 2017, and reconciliation of net profit for the fiscal years ended March 31, 2016

More information

Consolidated Balance Sheets

Consolidated Balance Sheets Consolidated Balance Sheets Terumo Corporation and subsidiaries March 31, 2013 and 2012 Assets Current Assets: Cash and deposits (Notes 2 and 17).................................... 78,201 78,767 Notes

More information

Standard Financial Corp. Consolidated Statements of Financial Condition (Dollars in thousands except share and per share data)

Standard Financial Corp. Consolidated Statements of Financial Condition (Dollars in thousands except share and per share data) Standard Financial Corp. Consolidated Statements of Financial Condition (Dollars in thousands except share and per share data) September 30, 2016 2015 ASSETS Cash on hand and due from banks $ 1,786 $ 2,325

More information

DELL INC. Condensed Consolidated Statement of Income and Related Financial Highlights (in millions, except per share data) (unaudited)

DELL INC. Condensed Consolidated Statement of Income and Related Financial Highlights (in millions, except per share data) (unaudited) Condensed Consolidated Statement of Income and Related Financial Highlights Three Months Ended February 3, October 28, January 28, % Growth Rates 2006 2005 2005 Sequential Yr. to Yr. Net revenue $ 15,183

More information

DOOSAN ENGINE CO., LTD. SEPARATE FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013, AND INDEPENDENT AUDITORS REPORT

DOOSAN ENGINE CO., LTD. SEPARATE FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013, AND INDEPENDENT AUDITORS REPORT DOOSAN ENGINE CO., LTD. SEPARATE FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013, AND INDEPENDENT AUDITORS REPORT INDEPENDENT AUDITORS REPORT English Translation of Independent

More information

ICMA s Requirements for CMA Designation

ICMA s Requirements for CMA Designation Part 1 Study Unit 1 ICMA s Requirements for CMA Designation Become a Member! Preferably of a local chapter (there are benefits). Pass both parts of the exam within 3 years (of starting the process). Satisfy

More information

Chapter 4 Income Statement 4-1

Chapter 4 Income Statement 4-1 Chapter 4 Income Statement 1. The concept of income 2. Why income measure is important 3. How income is measured 4. The format of an income statement 5. The components of an income statement 6. The comprehensive

More information

FASB Update NEWLY EFFECTIVE & RECENTLY ISSUED PRONOUNCEMENTS, & BEYOND. FALL CPE DAY 2016 MARIE BRILMYER, DIRECTOR

FASB Update NEWLY EFFECTIVE & RECENTLY ISSUED PRONOUNCEMENTS, & BEYOND. FALL CPE DAY 2016 MARIE BRILMYER, DIRECTOR FASB Update NEWLY EFFECTIVE & RECENTLY ISSUED PRONOUNCEMENTS, & BEYOND FALL CPE DAY 2016 MARIE BRILMYER, DIRECTOR mbrilmyer@cohencpa.com Overview Issued 2016 Effective 2016 Effective 2017 & Beyond On the

More information

(Continued) ~3~ March 31, 2017 December 31, 2016 March 31, 2016 Assets Notes AMOUNT % AMOUNT % AMOUNT % Current assets

(Continued) ~3~ March 31, 2017 December 31, 2016 March 31, 2016 Assets Notes AMOUNT % AMOUNT % AMOUNT % Current assets Current assets DAVICOM SEMICONDUCTOR, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Expressed in thousands of New Taiwan dollars) (The consolidated balance sheets as of March 31,2017 and 2016 are

More information

MICROSOFT CORPORATION (Exact name of registrant as specified in its charter)

MICROSOFT CORPORATION (Exact name of registrant as specified in its charter) 10 Q 1 d15167d10q.htm FORM 10 Q Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10 Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES

More information

ILLUSTRATION 12-1 TYPES OF INTANGIBLE ASSETS

ILLUSTRATION 12-1 TYPES OF INTANGIBLE ASSETS ILLUSTRATION 12-1 TYPES OF INTANGIBLE ASSETS INTANGIBLE ASSETS Identifiable Intangible Assets (Rights Type) Externally Acquired Internally Developed Financial Statement Treatment Unidentifiable Intangible

More information

III Explanation SFAS 14 SFAS 14. exports to be paid in foreign currency, or loans or debt denominated in foreign currency); (d)

III Explanation SFAS 14 SFAS 14. exports to be paid in foreign currency, or loans or debt denominated in foreign currency); (d) Statement of Financial Accounting Standards No. 14 Statement of Financial Accounting Standards No.14 The Effects of Changes in Foreign Exchange Rates Revised on 22 September 2005 Translated by TsingZai

More information

The statement of cash flows reports cash flows, cash receipts, and cash payments, to show where cash came from and how it was spent.

The statement of cash flows reports cash flows, cash receipts, and cash payments, to show where cash came from and how it was spent. Accounting Fundamentals Lesson 10 10.0 Cash Flow Statement The balance sheet reports financial position, and balance sheets from two periods show whether cash increased or decreased. But that doesn t tell

More information

(1) Consolidated Balance Sheets As of December 31, 2013 and 2014 ( ) represents negative figures. Millions of yen

(1) Consolidated Balance Sheets As of December 31, 2013 and 2014 ( ) represents negative figures. Millions of yen 3. Consolidated Financial Statements (1) Consolidated Balance Sheets As of and 2014 As of As of ASSETS Current assets: Cash and deposits 119,859 137,082 Notes and accounts receivable trade 238,102 265,818

More information

Financial Statement Analysis. Financial statements: A reminder

Financial Statement Analysis. Financial statements: A reminder Financial Statement Analysis Financial statements: A reminder The Balance Sheet Income statement Cash flow statement Fahmi Ben Abdelkader Required Reading 10/4/2017 11:56 AM 1 Overview of financial statements

More information

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 10-Q (Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period

More information

Reference. PwC Holdings Ltd and Its Subsidiaries Consolidated Income Statement for the financial year ended 31 December 2003

Reference. PwC Holdings Ltd and Its Subsidiaries Consolidated Income Statement for the financial year ended 31 December 2003 Consolidated Income Statement (Alternative 1: Illustrating the classification of expenses by function) 2 The Group FRS 1(77,82) SGX 1207(5)(a) Sales Cost of sales Gross profit 5,15 (24,512) 28,80 42,5

More information

As at March 31, 2016 As at April 1, 2015 Balance Sheet as at March 31, 2017 Note No. Rs. Lakhs Rs. Lakhs Rs. Lakhs

As at March 31, 2016 As at April 1, 2015 Balance Sheet as at March 31, 2017 Note No. Rs. Lakhs Rs. Lakhs Rs. Lakhs As at March 31, 2017 As at March 31, 2016 As at April 1, 2015 Balance Sheet as at March 31, 2017 Note No. ASSETS Non-current assets Property, plant and equipment 1.1 1,379.13 1,674.47 1,510.64 Capital

More information

IFRS Bridging Manual

IFRS Bridging Manual CMA CANADA PROFESSIONAL PROGRAMS February 2011 IFRS Bridging Manual Used with permission of CMA Ontario. No part of this document may be reproduced in any form without the permission of the copyright holder.

More information

C521 CHAPTER 13 & REVIEW FOR MIDTERM FINANCIAL ACCOUNTING EXAM

C521 CHAPTER 13 & REVIEW FOR MIDTERM FINANCIAL ACCOUNTING EXAM 1 C521 CHAPTER 13 & REVIEW FOR MIDTERM FINANCIAL ACCOUNTING EXAM What have we done in the course? On a chapter by chapter basis, we primarily have examined specific transactions and the effect on financial

More information

Tax Reform Impact on GAAP Accounting Entries

Tax Reform Impact on GAAP Accounting Entries January 2018 Tax Reform Impact on GAAP Accounting Entries On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (the Act) was signed into law. Among other things, the Act reduced the corporate federal

More information

Statement of Cash Flows. Statement of Cash Flows. Classification of Business Activities. Learning Objectives

Statement of Cash Flows. Statement of Cash Flows. Classification of Business Activities. Learning Objectives Statement of Cash Flows Learning Objectives 1. Understand the different activities of a business and how this influences the cash flow statement 2. Understand the direct and indirect methods for preparation

More information

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 01 Mazda Motor Corporation and Consolidated Subsidiaries 1 BASIS OF PRESENTING CONSOLIDATED FINANCIAL STATEMENTS The accompanying consolidated financial statements of Mazda Motor Corporation (the Company

More information

Illustrative Financial Statements for 2017 Financial Institutions

Illustrative Financial Statements for 2017 Financial Institutions Smart Decisions. Lasting Value. Illustrative Financial Statements for 2017 Financial Institutions November 2017 Crowe Horwath LLP Financial Institutions Illustrative Financial Statements for 2017 November

More information

TXC CORPORATION. Financial Statements for the Six Months Ended June 30, 2005 and 2004 and Independent Auditors Report

TXC CORPORATION. Financial Statements for the Six Months Ended June 30, 2005 and 2004 and Independent Auditors Report TXC CORPORATION Financial Statements for the Six Months Ended June 30, 2005 and 2004 and Independent Auditors Report INDEPENDENT AUDITORS REPORT The Board of Directors and Stockholders TXC Corporation

More information

Consolidated Statements of Profit or Loss

Consolidated Statements of Profit or Loss Ricoh Group Consolidated Financial Results for the Fiscal Year Ended March 31, 2017 Consolidated Statements of Profit or Loss For the Years Ended March 31, 2016 and 2017 Sales: Products 1,018,979 928,088

More information

Financial Section. P. 44 Consolidated Balance Sheet. P. 46 Consolidated Statement of Income. P. 47 Consolidated Statement of Comprehensive Income

Financial Section. P. 44 Consolidated Balance Sheet. P. 46 Consolidated Statement of Income. P. 47 Consolidated Statement of Comprehensive Income Financial Section P. 44 Consolidated Balance Sheet P. 46 Consolidated Statement of Income P. 47 Consolidated Statement of Comprehensive Income P. 48 Consolidated Statement of Changes in Equity P. 49 Consolidated

More information

CONSOLIDATED FINANCIAL STATEMENTS

CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS LTD. and Consolidated Subsidiaries Consolidated Balance Sheet March 31, U.S. Dollars (Note 1) ASSETS 2016 CURRENT ASSETS: Cash and cash equivalents (Note 15) 77,051 67,133

More information

Management s Responsibility

Management s Responsibility Management s Responsibility To the Shareholders of High Liner Foods Incorporated The management of High Liner Foods Incorporated includes corporate executives, operating and financial managers and other

More information

CONSOLIDATED FINANCIAL STATEMENTS

CONSOLIDATED FINANCIAL STATEMENTS TSUBAKIMOTO CHAIN CO. and Consolidated Subsidiaries CONSOLIDATED FINANCIAL STATEMENTS Year Ended March 31, 2017 with Independent Auditor s Report Consolidated Balance Sheet TSUBAKIMOTO CHAIN CO. and Consolidated

More information

JLM Couture, Inc. and Subsidiaries. Unaudited Consolidated Financial Report July 31, 2016

JLM Couture, Inc. and Subsidiaries. Unaudited Consolidated Financial Report July 31, 2016 JLM Couture, Inc. and Subsidiaries Unaudited Consolidated Financial Report July 31, 2016 1 Contents Financial Statements Consolidated balance sheets at July 31, 2016 (Unaudited) and October 31, 2015 3

More information

Novelis Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in millions)

Novelis Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in millions) Novelis Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in millions) Three Months Ended March 31, Net sales $ 2,621 $ 2,402 $ 9,591 $ 9,872 Cost of goods sold (exclusive of depreciation

More information

ARM Holdings plc Fourth Quarter and Annual Results US GAAP

ARM Holdings plc Fourth Quarter and Annual Results US GAAP ARM Holdings plc Fourth Quarter and Annual Results US GAAP Quarter Quarter Year Year ended ended ended ended 31 December 31 December 31 December 31 December 2006 2005 2006 2005 Unaudited Unaudited Unaudited

More information

How to Read Financial Statements 2015

How to Read Financial Statements 2015 CORPORATE LAW AND PRACTICE Course Handbook Series Number B-2157 How to Read Financial Statements 2015 Chair Chad Rucker To order this book, call (800) 260-4PLI or fax us at (800) 321-0093. Ask our Customer

More information

Handout for week 2 Understanding Balance sheet

Handout for week 2 Understanding Balance sheet Handout for week 2 Understanding Balance sheet The purpose of financial accounting is generating status and performance reports in the form of Balance Sheet and Statement of Profit & Loss (Income Statement).

More information

Gross margin 2,329 2,079 12% 4,516 3,991 13%

Gross margin 2,329 2,079 12% 4,516 3,991 13% Condensed Consolidated Statements of Income (Loss) and Related Financial Highlights (in millions, except per share amounts and percentages; unaudited) Net revenue: Products $ 10,961 $ 10,938 0% $ 21,144

More information

Pioneer Announces Business Results for 2Q Fiscal 2018

Pioneer Announces Business Results for 2Q Fiscal 2018 For Immediate Release November 9, 2017 Pioneer Announces Business Results for 2Q Fiscal 2018 Pioneer Corporation today announced its consolidated second-quarter and six-month business results for the period

More information

Quarterly Securities Report

Quarterly Securities Report Quarterly Securities Report For the three months ended September 30, 2017 (TRANSLATION) Sony Corporation CONTENTS Page Note for readers of this English translation Cautionary Statement 1 1 I Corporate

More information

Reporting and Analyzing Cash Flows

Reporting and Analyzing Cash Flows Chapter 17 Reporting and Analyzing Cash Flows QUICK STUDY SOLUTIONS Quick Study 17-1 (10 minutes) 1. Operating 6. Operating 2. Operating 7. Investing 3. Financing 8 Operating 4. Financing 9. Operating

More information

Table 1 HARRIS CORPORATION FY '17 Third Quarter Summary CONDENSED CONSOLIDATED STATEMENT OF INCOME (Unaudited)

Table 1 HARRIS CORPORATION FY '17 Third Quarter Summary CONDENSED CONSOLIDATED STATEMENT OF INCOME (Unaudited) Table 1 CONDENSED CONSOLIDATED STATEMENT OF INCOME Quarter Ended Three Quarters Ended March 31, 2017 April 1, 2016 (A) March 31, 2017 April 1, 2016 (A) (In millions, except per share amounts) Revenue from

More information

Financial Statement Analysis L6: Analyzing Operating Activities

Financial Statement Analysis L6: Analyzing Operating Activities 6-1 Financial Statement Analysis L6: Analyzing Operating Activities 6-2 Content 1. Income Measurement 2. Non-Recurring Items 3. Revenue Recognition 4. Deferred Charges 5. Employee Benefits 6. Interest

More information