Case 07-2 Western Aluminum
|
|
- Eugene Gibson
- 6 years ago
- Views:
Transcription
1 Case 07-2 Western Aluminum In conjunction with the annual audit, the controller of Western Aluminum, Inc. ( W or the Company ), provided the audit engagement team with background information about the Company s proposed change in accounting principle from the last-in, first-out (LIFO) method to the first-in, first-out (FIFO) method of valuing inventory. MEMO To: Engagement Team From: Controller, Western Aluminum, Inc. Subject: Accounting for the Change in Accounting Principle From LIFO to FIFO Date: December 31, 2006 Company W, an SEC registrant, is the leading producer of aluminum in the world. Since W s inception in January 2004, W s divisions have accounted for their raw-material, work-in-process, and finished-goods inventories ( inventories or inventory ) under the LIFO method. Meanwhile, W s recently acquired smelter, N, accounts for its inventory under the FIFO method. Smelter N currently produces 15 percent of W s inventories; however, N is projected to produce 30 percent of W s inventories by the end of Company W s principal output, primary aluminum, and a significant portion of its major input, alumina, are subject to large valuation swings over the business cycles depending on the price of aluminum as traded on the London Metal Exchange. The combination of high-value LIFO layers and business-cycle commodity price swings has led W to make large, noncash adjustments to its inventory. For example, under Statement 5 in Accounting Research Bulletin No. 43, Chapter 4, Inventory Pricing, W makes lower-of-cost-or-market (LCM) adjustments when inventory at LIFO cost exceeds market. Thus, if W s LIFO cost is $0.70 per pound while market prices are at $0.65 per pound, the inventory is overvalued by $0.05 per pound and W records an LCM charge. These adjustments do not align with the actual cost flows or match current costs against revenues. Because the cycle time from acquisition of alumina to sale of primary aluminum is about three months (or less), switching to FIFO will result in inventory values at period end that more closely approximate replacement cost; at the same time, revenue and expenses will be more closely matched. Furthermore, W s research shows that the industry has acknowledged the impact of these aluminum fluctuations. Company W noted that Competitor A, in its 2005 annual report, stated that 55 percent of its inventory is reported on a FIFO basis while the rest is reported on an average-cost basis. Similarly, Competitor B stated that it uses the monthly-average-cost method to determine most of its inventories. The results of such average-cost valuation methods more closely match FIFO than LIFO. Company W s effective tax rate for 2004, 2005, and 2006 is 40 percent.
2 Case 07-2: Western Aluminum Page 2 Under the circumstances, W believes that changing to the FIFO method for its domestic operations would be preferable. Company W proposes to make this accounting change in the fourth quarter of calendar year 2006 (December 31, 2006). The following table presents the effects of the proposed change in accounting principle on inventory and cost of sales: Inventory Determined by Cost of Sales Determined by Date LIFO Method FIFO Method LIFO Method FIFO Method 1/1/2004 $ - $ - $ - $ - 12/31/ /31/ W has not filed audited financial statements with the SEC for the year ended December 31, Company W s audited financial statements as of, and for, the years ended December 31, 2005, and 2004, as originally reported under the LIFO method, are as follows: Income Statement Sales $ 700 $ 650 Cost of goods sold Selling, general, and administrative expenses Income before income taxes Income taxes Net income $ 150 $ 162 Balance Sheet Cash $ 10 $ 20 Inventory Prepaid assets 5 15 Total Current Assets Property, plant, and equipment (net) 1, Total Assets $ 1,230 $ 765 Accounts payable Income tax payable Total Current Liabilities Long-term liabilities Paid-in capital Retained earnings Total Equity Total Liabilities and Equity $ 1,230 $ 765
3 Case 07-2: Western Aluminum Page 3 Cash Flow Statement Net income $ 150 $ 162 Adjustments to reconcile net income to net cash provided by operating activities (Increase)/decrease in inventory (50) (100) Increase/(decrease) in income tax liability (8) 108 Other operating, investing, and financing cash flow activities: (102) (150) Net increase/(decrease) in cash (10) 20 Beginning cash balance 20 - Ending cash balance $ 10 $ 20 NOTE: For simplicity, the cash flow statements for the years ended December 31, 2005, and 2004, are condensed, highlighting only those line items affected by the accounting change. This summarized presentation does not comply with the requirements of FASB Statement No. 95, Statement of Cash Flows, and related interpretations. In addition, the statement of shareholders equity has intentionally been omitted. Required: What factors should the Company and the audit engagement team consider in determining whether the proposed accounting change from LIFO to FIFO is preferable? If the change in accounting principle is preferable and indirectly results in a $100 increase in accrued bonuses by December 31, 2005, how should the Company report the indirect effects due to retrospective application in the financial statements as of, and for, the year ended December 31, 2005? Please explain. Assume that the change in accounting principle is determined to be preferable, but the Company concludes that it is impracticable to determine the period-specific effects of the change in financial reporting periods at and before December 31, How should the Company report the retrospective application for the change in accounting principle in its annual report for December 31, 2006? Assume that the change in accounting principle is determined to be preferable and that retrospective application is deemed practicable. Use the forms below to adjust the financial statements as of, and for, the years ended December 31, 2005, and 2004, to reflect the retrospective application of the change in accounting principle that will be reported in the Company s December 31, 2006, annual report on Form 10-K.
4 Case 07-2: Western Aluminum Page 4 NOTE: No cumulative adjustments need to be made to January 1, 2004, retained earnings since the Company s business inception was January Financial statements as of, and for, the year ended December 31, 2006, are not provided since they have not previously been issued. Income Statement Sales $ 650 Cost of goods sold 300 Selling, general, and administrative expenses 80 Income before income taxes 270 Income taxes 108 Net income $ 162 Balance Sheet Cash $ 20 Inventory 100 Prepaid assets 15 Total Current Assets 135 Property, plant, and equipment (net) 630 Total Assets $ 765 Accounts payable 100 Income tax payable 108 Total Current Liabilities 208 Long-term liabilities 300 Paid-in capital 95 Retained earnings 162 Total Equity 257 Total Liabilities and Equity $ 765
5 Case 07-2: Western Aluminum Page 5 Cash Flow Statement Net income $ 162 Adjustments to reconcile net income to net cash provided by operating activities (Increase)/decrease in inventory (100) Increase/(decrease) in income tax liability 108 Other operating, investing and financing cash flow activities: (150) Net increase/(decrease) in cash 20 Beginning cash balance - Ending cash balance $ 20 NOTE: For simplicity, the cash flow statements for the years ended December 31, 2005, and 2004, are condensed, highlighting only those line items affected by the accounting change. This summarized presentation does not comply with the requirements of Statement 95 and related interpretations. In addition, the statement of shareholders equity has intentionally been omitted.
CHAPTER 2 UPDATE. alternative method is preferable to the method replaced. IAS 8 states that the change must result in more relevant information.
CHAPTER 2 UPDATE In May 2005, the FASB adopted Statement of Financial Accounting Standards (SFAS) No. 154, Accounting Changes and Error Corrections, a replacement of APB Opinion No. 20, Accounting Changes
More informationGLOBAL BRASS AND COPPER HOLDINGS, INC. (Exact name of registrant as specified in its charter)
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 informationTENNANT COMPANY (Exact name of registrant as specified in its charter)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q [ ü] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR For the quarterly period
More informationTENNANT COMPANY (Exact name of registrant as specified in its charter)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q [ ü] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR For the quarterly period
More informationCBF Exam Review. Financial Statements Part 1. Tom Shimko, CCE
CBF Exam Review Financial Statements Part 1 Tom Shimko, CCE 1 CBF Exam 1. Tests consists of 140 questions - 101 multiple choice questions - 39 true/false questions 2. Subject matter covered - Business
More informationMILLER INDUSTRIES, 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 informationAccounting changes and error corrections
Financial reporting developments A comprehensive guide Accounting changes and error corrections Revised May 2017 To our clients and other friends This guide is designed to summarize the accounting literature
More informationHarley-Davidson, Inc. (Exact name of registrant as specified in its charter)
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 informationJOHNSON CONTROLS, INC. (Exact name of registrant as specified in its charter)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) Form 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period
More information1. On Jan 1, 2003 Wilbur Retailers purchases merchandise on account for $349,000.
Name ID# Accounting 15.501/516 Spring 2004 Midterm 1 Exam Guidelines 1. Fill in your name above. Exams without names will not be graded. If you do not have an ID number, leave the corresponding space blank.
More informationHarley-Davidson, Inc. (Exact name of registrant as specified in its charter)
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 informationFORM 10-Q NATIONAL PRESTO INDUSTRIES, INC.
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 informationMILLER INDUSTRIES, 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 informationHarley-Davidson, Inc. (Exact name of registrant as specified in its charter)
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 informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C FORM 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 ACT OF 1934 For the Quarterly Period
More informationHarley-Davidson, Inc. (Exact name of registrant as specified in its charter)
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 informationE23-1 Identification of Changes and Errors. (Easy) Indicate how to report various items, whether increases or decreases are to be expected.
CHAPTER 23 ACCOUNTING FOR CHANGES AND ERRORS CONTENT ANALYSIS OF EXERCISES AND PROBLEMS Number Content Time Range (minutes) E23-1 Identification of Changes and Errors. (Easy) Indicate how to report various
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 10-Q CATERPILLAR INC.
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 informationAccounting Changes and Errors
CHAPTER 23 O BJECTIVES After reading this chapter, you will be able to: 1 Identify the types of accounting changes. 2 Explain the methods of disclosing an accounting change. 3 Account for a change in accounting
More informationINTERNAL SERVICE FUNDS
INTERNAL SERVICE FUNDS This page intentionally left blank 282 INTERNAL SERVICE FUNDS 500 - COMPUTER REPLACEMENT - This fund provides for replacement of the County s computer equipment. It is supported
More informationBIO-TECHNE CORPORATION (Exact name of registrant as specified in its charter)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 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 December
More informationCH 22 Textbook Self-Study Questions
C H 2 2 P a g e 1 CH 22 Textbook Self-Study Questions 2. Which of the following is accounted for as a change in accounting principle? A. A change in the residual value of plant assets. B. A change from
More informationBIO-TECHNE CORPORATION (Exact name of registrant as specified in its charter)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 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 March
More informationFORM 10-Q (Mark One) X QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For quarterly period ended December 31, 2016
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) X QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For quarterly period ended
More information1. On Jan 1, 2003 Wilbur Retailers purchases merchandise on account for $349,000.
Name ID# Accounting 15.501/516 Spring 2004 Midterm 1 Exam Guidelines 1. Fill in your name above. Exams without names will not be graded. If you do not have an ID number, leave the corresponding space blank.
More informationDirect and Indirect Methods
Part 1 Questions: Practice Simple Direct Cash Flow Question 1: Use the following information to complete a direct method cash flow statement: Cash Flows from Operating Activities Cash receipts Received
More informationServiceNow, 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 informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 10-Q
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 informationJOHNSON CONTROLS, INC. (Exact name of registrant as specified in its charter)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) Form 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period
More informationServiceNow, Inc. Condensed Consolidated Statements of Operations (in thousands, except share and per share data)
Condensed Consolidated Statements of Operations (in thousands, except share and per share data) December 31, 2015 December 31, 2014 December 31, 2015 December 31, 2014 Revenues: Subscription $ 244,702
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 10-Q. For the quarterly period ended September 30, 2018
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C 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 EXCHANGE ACT OF 1934 For the quarterly
More informationLEXMARK INTERNATIONAL GROUP, INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS (In Millions, Except Per Share Amounts) (Unaudited)
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS (In Millions, Except Per Share Amounts) Revenues Cost of revenues Gross profit Three Months Ended $787.0 501.8 285.20 $672.1 425.5 246.60 Percent Change 17%
More informationALCOA CORPORATION REPORTS SECOND QUARTER 2018 RESULTS
FOR IMMEDIATE RELEASE: ALCOA CORPORATION REPORTS SECOND QUARTER 2018 RESULTS Net income of $75 million, or $0.39 per share Excluding special items, adjusted net income of $286 million, or $1.52 per share
More informationALCOA CORPORATION REPORTS FOURTH QUARTER AND FULL-YEAR 2017 RESULTS
ALCOA CORPORATION REPORTS FOURTH QUARTER AND FULL-YEAR 2017 RESULTS Jan 17, 2018 Alumina and aluminum pricing drive revenue growth, cash climbs to $1.36 billion Fourth Quarter 2017 Net loss of $196 million,
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C FORM 10-Q
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 informationLet s trace the budgets through for a company called the Hayes Company. Sales Budget The first budget prepared, comes from the Sales Forecast
Let s trace the budgets through for a company called the Hayes Company. Sales Budget The first budget prepared, comes from the Sales Forecast Expected sales volume: 3,000 units in the first quarter with
More informationChecklist for Quarterly Report on SEC Form 10-Q. April 2013
Checklist for Quarterly Report on SEC Form 10-Q April 2013 Company: Quarter Ending: Prepared by: Reviewed by: 1st 2nd 3rd Introduction The U.S. Securities and Exchange Commission (SEC) Form 10-Q is used
More informationUNITED 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 informationServiceNow, 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 informationMorningstar Document Research
Morningstar Document Research FORM 10-Q IDEX CORP /DE/ - iex Filed: November 04, 2009 (period: September 30, 2009) Quarterly report which provides a continuing view of a company's financial position UNITED
More informationFor more information, contact: Brad Pogalz (952)
For more information, contact: Brad Pogalz (952) 887-3753 Donaldson Reports Fourth Quarter and Full-Year 2018 Earnings Record levels for sales and adjusted EPS 1,2 in fiscal 2018; new records forecast
More informationServiceNow, 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 $ 166,751 $ 104,878 $ 567,217 $ 349,804 Professional services and other 31,253 20,352
More informationCOMBINED FINANCIAL STATEMENTS
COMBINED FINANCIAL STATEMENTS COMBINED BALANCE SHEET - ALL FUND TYPES, ACCOUNT GROUPS AND DISCRETELY PRESENTED COMPONENT UNITS SEPTEMBER 30, 1999 PROPRIETARY GOVERNMENTAL FUND TYPES FUND TYPES SPECIAL
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 10-Q
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) X QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For quarterly period ended
More informationPACKAGING CORPORATION OF AMERICA
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 ACT OF 1934 n For the Quarterly
More informationALCOA CORPORATION REPORTS FOURTH QUARTER AND FULL-YEAR 2018 RESULTS Alumina and aluminum pricing drive growth in annual results. Fourth Quarter 2018
FOR IMMEDIATE RELEASE: ALCOA CORPORATION REPORTS FOURTH QUARTER AND FULL-YEAR RESULTS Alumina and aluminum pricing drive growth in annual results Fourth Quarter Net income of $43 million, or $0.23 per
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 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 ACT OF 1934 For the quarterly period
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 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 ACT OF 1934 For the quarterly period
More informationUNITED STATES SECURITIES & EXCHANGE COMMISSION Washington, D.C FORM 10-Q
UNITED STATES SECURITIES & 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 Quarterly Period Ended December
More informationCATERPILLAR INC ( CAT ) 10 Q Quarterly report pursuant to sections 13 or 15(d) Filed on 11/4/2010 Filed Period 9/30/2010
CATERPILLAR INC ( CAT ) 10 Q Quarterly report pursuant to sections 13 or 15(d) Filed on 11/4/2010 Filed Period 9/30/2010 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q
More informationBiosynergy, Inc. (Exact name of registrant as specified in its charter)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly
More informationCOOPER TIRE & RUBBER COMPANY
Section 1: 10-Q (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
More informationALLIED MOTION TECHNOLOGIES INC. (Incorporated Under the Laws of the State of Colorado)
SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. Form 10-Q Quarterly Report Under Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarter Ended Commission File Number 2006 0-04041
More informationFAQ: 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 informationThe Alpine Group, Inc. Unaudited Condensed Financial Statements For the Quarterly Period Ended March 31, 2013
The Alpine Group, Inc. Unaudited Condensed Financial Statements For the Quarterly Period Ended March 31, 2013 THE APLINE GROUP, INC. UNUADITED CONDENSED FINANCIAL STATEMENTS FOR THE QUARTERLY PERIOD ENDED
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C FORM 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 ACT OF 1934 For the Quarterly Period
More informationSECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. Form 10-Q. ALLIED MOTION TECHNOLOGIES INC. (Incorporated Under the Laws of the State of Colorado)
SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. Form 10-Q Quarterly Report Under Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarter Ended Commission File Number June 30, 2007
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 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 ACT OF 1934 For the quarterly period
More informationFORM 10-Q (Mark One) X QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For quarterly period ended September 30, 2015
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) X QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For quarterly period ended
More informationEL 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 informationINGERSOLL-RAND PUBLIC LIMITED COMPANY (Exact name of registrant as specified in its charter)
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 EXCHANGE ACT OF 1934 For the quarterly
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C FORM 10-Q
Section 1: 10-Q (10-Q) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ýquarterly REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the
More informationPACCAR 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 informationFORM 10-Q. INSIGNIA SYSTEMS, INC. (Exact name of registrant as specified in its charter)
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 informationChicago, February 21, 2019 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) today announced fourth quarter and full year 2018 results.
Century Aluminum Company Reports Fourth Quarter and Full Year 2018 Results Chicago, February 21, 2019 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) today announced fourth quarter and full
More informationFORM 10-Q. NATIONAL PRESTO INDUSTRIES, INC. (Exact name of registrant as specified in its charter)
presto152846_10q.htm 10-Q 1 of 19 FORM 10-Q FOR THE QUARTER ENDED JULY 5, 2015 152846 - PROOF 2 08/13/2015 04:48 PM UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY
More informationChicago, May 3, 2018 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) today announced first quarter 2018 results.
Century Aluminum Company Reports First Quarter 2018 Results Chicago, May 3, 2018 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) today announced first quarter 2018 results. First Quarter 2018
More informationOrchids Paper Products Company (Exact name of Registrant as Specified in its Charter)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 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 informationFORM 10-Q. INTEL CORPORATION (Exact name of registrant as specified in its charter)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly
More informationPROFIRE ENERGY INC FORM 10-Q. (Quarterly Report) Filed 02/14/11 for the Period Ending 12/31/10
PROFIRE ENERGY INC FORM 10-Q (Quarterly Report) Filed 02/14/11 for the Period Ending 12/31/10 Address 321 SOUTH 1250 WEST, #3 LINDON, UT 84042 Telephone 801-433-2000 CIK 0001289636 Symbol PFIE SIC Code
More informationFinancial Reporting and Analysis (7 th Ed.) Chapter 2 Solutions Accrual Accounting and Income Determination Exercises
Financial Reporting and Analysis (7 th Ed.) Chapter 2 Solutions Accrual Accounting and Income Determination Exercises Exercises E2-1. Distinguishing accrual-basis revenue from cash receipts (AICPA adapted)
More informationOracle Corporation (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 informationLIMITED EDITION. Conceptual Framework, Standards, Standard Setting, and Presentation of Financial Statements
LIMITED EDITION Conceptual Framework, Standards, Standard Setting, and Presentation of Financial Statements Contents Learning Outcomes 1 1.1 U.S. Securities and Exchange Commission 2 SEC Rulemaking Process
More informationCISCO SYSTEMS, INC. (Exact name of Registrant as specified in its charter)
(Mark one) 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
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C FORM 10-Q
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 informationSECURITIES AND EXCHANGE COMMISSION FORM 10-Q/A. AEP Industries Inc.
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q/A QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2002
More informationVISHAY INTERTECHNOLOGY, INC. Summary of Operations (Unaudited - In thousands, except per share amounts)
Summary of Operations (Unaudited - In thousands, except per share amounts) Fiscal quarters ended June 30, 2018 March 31, 2018 July 1, 2017* Net revenues $ 761,030 $ 716,795 $ 643,164 Costs of products
More informationACE HARDWARE CORPORATION Quarterly report for the period ended April 4, 2015
Quarterly report for the period ended April 4, 2015 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA Page Independent Auditor s Review Report 2 Consolidated Balance Sheets as of April
More informationUNITED STATES SECURITIES & EXCHANGE COMMISSION Washington, D.C FORM 10-Q
UNITED STATES SECURITIES & 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 Quarterly Period Ended March
More informationAlcoa Announces Highest Income and Revenue in Company's History
Alcoa Announces Highest Income and Revenue in Company's History 2006 Annual Highlights: Annual income from continuing operations of 2.2 billion, or 2.47 per diluted share; excluding restructuring and impairment
More informationIndex to Financial Statements
Index to Financial Statements Balance Sheet Statement of Operations. Statement of Cash Flow Notes to the Financial Statements. 1 Balance Sheet 2018 September 30, 2018 Assets: Current Assets: Cash $ 27,975
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C Form 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 ACT OF 1934. For the quarterly period
More informationTEIKOKU ELECTRIC MFG. CO., LTD. Consolidated Financial Statements for the Year Ended March 31, 2016 and Independent Auditor's Report
TEIKOKU ELECTRIC MFG. CO., LTD. Consolidated Financial Statements for the Year Ended March 31, 2016 and Independent Auditor's Report TEIKOKU ELECTRIC MFG. CO., LTD. Consolidated Balance Sheet March 31,
More informationTIFFANY & CO. (Exact name of registrant as specified in its charter)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly
More informationJOHNSON CONTROLS INTERNATIONAL PLC
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly
More informationFORM 10-Q (Mark One) X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly
More informationStatement 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 informationCISCO SYSTEMS, INC. (Exact name of Registrant as specified in its charter)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 (Mark one) FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period
More informationVISHAY INTERTECHNOLOGY, INC. Summary of Operations (Unaudited - In thousands, except per share amounts)
Summary of Operations (Unaudited - In thousands, except per share amounts) December 31, 2018 December 31, 2017* Net revenues $ 3,034,689 $ 2,599,368 Costs of products sold 2,146,165 1,896,259 Gross profit
More informationPACCAR 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 informationCENTURY 21 ACCOUNTING, 9e General Journal Chapter Objectives
CENTURY 21 ACCOUNTING, 9e General Journal Chapter Objectives Chapter 1 Starting A Proprietorship: Changes that Affect the Accounting Equation After studying Chapter 1, you will be able to: 1. Define accounting
More informationUNITED 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 (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly
More informationAccounting Changes and Error Corrections
Accounting Changes and Error Corrections 4 CPE Hours d PDH Academy PO Box 449 Pewaukee, WI 53072 www.pdhacademy.com pdhacademy@gmail.com 888-564-9098 CONTINUING EDUCATION for Certified Public Accountants
More informationUnited 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 informationMcKESSON CORPORATION (Exact name of registrant as specified in its charter)
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 ACT OF 1934 For the quarterly period
More informationCISCO SYSTEMS, INC. FORM 10-Q. (Quarterly Report) Filed 02/21/12 for the Period Ending 01/28/12
CISCO SYSTEMS, INC. FORM 10-Q (Quarterly Report) Filed 02/21/12 for the Period Ending 01/28/12 Address 170 WEST TASMAN DR SAN JOSE, CA 95134-1706 Telephone 4085264000 CIK 0000858877 Symbol CSCO SIC Code
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C 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 EXCHANGE ACT OF 1934 For the quarterly
More informationANSWER SHEET EXAMINATION #1
ANSWER SHEET EXAMINATION #1 NAME: DATE: 1) 29) Multiple-choice (38) 2) 30) Matching (46) 3) 31) Problems (16) 4) 32) Total (100) / Grade 5) 33) 6) 34) 7) 35) 8) 36) 9) 37) 10) 38) 11) 12) 13) 14) 15) 16)
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION. Washington, D.C FORM 10-Q
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