A. Dilutive Securities: Securities which are not common stock in form but enable their holders to obtain common stock upon exercise or conversion.
|
|
- Emma Ray
- 6 years ago
- Views:
Transcription
1 Chapter 17 Dilutive Securities and Earnings Per Share LECTURE OUTLINE The material in this chapter can be covered in three or four class sessions. Students generally have not been exposed to the types of dilutive securities discussed in this chapter nor are they aware of the complex rules governing the calculation of EPS. A. Dilutive Securities: Securities which are not common stock in form but enable their holders to obtain common stock upon exercise or conversion. Illustration 17-1 provides a numerical example of convertible bonds at date of issue and at date of conversion. Conversion is shown using both the market value and book value approaches. 1. Accounting for convertible debt: A convertible bond combines the benefits of a bond with the privilege of exchanging it for stock at the holder's option. a. Issuance: recorded the same as issuance of any other bond. b. Interest dates: recorded the same as any other bond. c. Conversion recorded using either market value or book value approach. (1) Market value approach: Use market value of stock, if determinable. Otherwise, use market value of bonds. Less-common approach (b) Any gain or loss on conversion is treated as an ordinary item. (2) Book value approach: Use book value of bonds. No gain or loss recognized. d. If retired for cash, instead of converted, recorded the same as any other bond.
2 e. Induced conversions: Additional consideration given to induce conversion should be recognized as an expense of the current period. (1) The conversion inducement is recorded as an expense of the current period. f. Retirement of convertible debt: treat as any other debt retirement. Any gain or loss is recognized as extraordinary. 2. Accounting for convertible preferred stock: Handled at issuance and conversion in the same manner as convertible debt, but only the book value method should be used. Illustration 17-2 provides a numerical example of convertible preferred stock at date of issue and at date of conversion. a. Exception: If the par value of the common stock exceeds the preferred stock's book value, the difference is debited to Retained Earnings. 3. Accounting for stock warrants: entitles holder to acquire shares of stock at a certain price within a stated periods. a. Normally issued as: (1) an "equity kicker" to make another security more attractive. (2) a pre-emptive right to purchase additional shares given to existing shareholders. (3) compensation to executives and employees. b. Detachable stock warrants: can be traded separately, and therefore, have a market value. (1) Proportional method: use when value of bonds without the warrants and the value of the warrants are both known. Allocate the sale price of the bonds between the bonds and the warrants based on their respective market values.
3 (2) Incrimental method: use when only the value of the bonds without the warrants or the value of the warrants is known. Subtract the market value of the known security from the sale price of the bonds to determine the value of the other security. Illustration 17-3 provides a numerical example of the proporational and incremental methods. (3) Warrants not exercised: transfer the carrying value from the PIC-Stock Warrants account to the PIC-from Expired Warrants account. c. Nondetachable stock warrants: record the entire proceeds as debt. d. Stock warrants representing stock rights to existing shareholders do not require any journal entry at the issuance date. 4. Stock compensation plans: Arrangements where selected employees are given the option to purchase common stock in the company at a given price over an extended period of time. a. The major accounting issue: what is the value of the compensation received? (1) Under the intrinsic value method: compensation expense = market price of the stock exercise price of the options at the measurement date (usually the grant date). (2) Under the fair value method: compensation expense = fair value of the stock options expected to vest at the grant date based on an acceptable option pricing model (such as the Black-Scholes model). Vesting occurs on the date the employee's right to receive or retain the shares is no longer contingent on remaining in the service of the employer. (b) Stock options issued to non-employees for goods or services must be recognized using this method.
4 (3) Under SFAS No. 123, FASB encourges, but does not require, the use of the fair value method. Most companies use the intrinsic value method because it results in a lower compensation expense amount. b. Allocating Compensation Expense: recognized over the service period (the time between the grant date and the vesting date). (1) On Date of grant: no journal entry required (2) Allocate amount of compensation expense evenly over the service period under both methods. Dr. Compensation Expense Cr. Paid in Capital Stock Options c. Recording the exercise of options: the same accounts are affected under both methods. (1) Dr. Cash Paid in Capital Stock Options Cr. Common Stock Paid in Capital in Excess of Par d. Recording the expiration of options: no adjustment is made to Compensation Expense (1) Dr. Paid in Capital Stock Options Cr. Paid in Capital Expired Stock Options e. Recording the forfeiture of options: occurs if the employee leaves the company before the vesting date. (1) Dr. Paid in Capital Stock Options Cr. Compensation Expense f. Types of plans: Several different types of plans exist and are used to compensate executives (Appendix 17A discusses these plans further):
5 (1) Incentive or nonqualified stock option plans. (2) Stock appreciation rights: a device used to ease the cash burdens on an executive that a stock option plan may impose. Compensation expense is the amount by which the market value of the shares exceeds the value specified. Changes in the market value result in a change in the measure of compensation. (3) Performance-type plans: stock issued to executive if performance criteria are met. (4) Noncompensatory plans: stock issued by employer either to obtain equity capital or to induce widespread ownership among the employees. Must meet all of the following characteristics: (b) (c) Substantially all full-time employees may participate on an equitable basis. The discount from market price is small. The plan offers no substantive option feature. 5. Disclosure of compensation plans a. For each type of plan a company offers, it must disclose: (1) the number of shares under option (2) the options exercised and forfeited (3) the weighted average options prices for these categories (4) the weighted average fair value of options granted during the year (5) the average remaining contractual life of the options outstanding (6) the method and significant assumptions used to estimate the fair values of the stock options b. If the company uses the intrinsic value method it must still disclose the following, as if the fair value method had been used: (1) pro-forma net income (2) pro-forma earnings per share (if presented)
6 6. Debate over stock options: the chronology of events related to SFAS No. 123 shows the impact that social, economic, and public policy goals can have on the development of accounting standards. B. Computing Earnings Per Share. Illustration 17-4 presents a conceptual overview of the EPS computations. 1. Simple capital structures: companies that have only common stock or no securities that could dilute earnings per share (EPS) if converted or exercised. a. EPS = Net Income Preferred stock dividends Weighted average no. of shares outstanding (1) EPS is calculated for each component of income; income from continuing operations, income before extraordinary items or changes in accounting principle, and net income. (2) Preferred stock dividends are the current year's dividend only. If none declared, then calculate an amount equal to what the current dividend would have been. (b) Don't include dividends in arrears. (c) If a net loss occurs, add the preferred dividend. (3) Weighted average shares outstanding = No. of shares outstanding fraction of the year outstanding If a stock dividend/split occurs during the year, treat it as if it occurred at the beginning of the year.
7 Illustration 17-5 demonstrates how to calculate the weighted average number of common shares outstanding. Illustration 17-6 indicates the elementary points in calculating the basic EPS. 2. Complex capital structures: when a company has convertible securities, options, warrants, and other rights that upon conversion or exercise could dilute EPS. a. Requires both basic and diluted EPS. b. Diluted EPS = Net income Preferred dividend Weighted ave. no. of shares outstanding Impact of convertible securities Impact of options, warrants, and other dilutive securities c. Convertible securities (1) If convertible bonds, use the if-converted method. Treat conversion as occurring at the beginning of the year, or at issuance date, if it occurred during the year. (b) Eliminate related interest expense, net of tax. (2) If convertible preferred stock Eliminate preferred dividend from numerator. (b) Increase weighted average number of shares outstanding in denominator.
8 (3) Use the most advantageous conversion rate available to the holder of the security. d. Options and warrants use the treasury stock method and assume: (1) Exercise at the beginning of the year or issue date, if it occurs during the year. (2) Proceeds are used to purchase common stock for treasury stock. (3) If exercise price < market price of stock, dilution occurs. (4) If exercise price > market price, securities are antidilative and can be ignored in the diluted EPS calculation. e. Contingent shares are included in the computation of the diluted EPS. Illustration 17-7 provides an overview of the EPS calculations in a complex capital structure. 3. Presentation and disclosure. a. EPS is presented for income from continuing operations, income before extraordinary items or change in accounting principle, and net income. b. Reported for all periods presented c. Prior period EPS is restated for any prior period adjustments. d. Footnotes are required for diluted EPS.
9 C. Appendix 17A Stock Options Additional Complications 1. Stock option plans a. Incentive stock option plans (1) There is no compensation expense because the market price and the option price must be equal on the grant date. (2) Provides a tax advantage to the employee. The difference between the market price and option price is not taxable until the shares are sold. (b) The difference is taxable at either the capital gains rate or ordinary income tax rates, depending on how long the stock is held. b. Nonqualified (nonstatutory) stock option plans (1) Compensation expense equals the difference between the market price and option price at the date of grant (measurement date). Allocated over the periods benefitted. (2) Provides no tax advantage to the employee The difference between the market price and option price is taxable at the time the stock is purchased, at ordinary tax rates. 2. Stock appreciation rights (SARs) a. Employees receive cash, or stock or combination of both in an amount equal to the difference between the market price on the exercise date and pre-established option price.
10 b. Compensation expense (1) Measurement date is the exercise date under APB Opinion No. 25 (2) Estimated total compensation cost = (current market price option price) No. of SARs outstanding (3) Use the percentage approach to allocate compensation expense Cumulative Compensation expense = % of total service period elapsed Estimated total compensation cost (b) Current compensation expense = Cumulative conpensation expense prior periods' expense (4) If exercise date occurs after service period, adjust compensation expense downward for changes in market price. Cumulative compensation expense cannot be negative. (5) If company uses SFAS No. 123 guidelines, total compensation expense is recognized on grant date. Subsequent changes in market price are ignored. (b) Total compensation expense may be lower.
11 3. Performance-type plans a. Employees receive common stock or cash if specific performance criteria are met during the performance period (3 5 years). (1) Increases in return on assets or equity, growth in sales, growth in EPS, or a combination of these. b. Measurement date = exercise date c. Compensation expense is determined using the percentage approach is with SARs. D. Appendix 17B Comprehensive EPS Illustration.
CHAPTER 16. Dilutive Securities and Earnings Per Share 1, 2, 3, 4, 5, 6, 7, Warrants and debt. 3, 8, 9 4, 5 7, 8, 9, 10, 29
CHAPTER 16 Dilutive Securities and Earnings Per Share ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Problems Concepts for Analysis 1. Convertible debt and preference
More information(a) Conversion recorded at book value of the bonds:
Accounting 472 Summer 2002 Chapter 17 Solutions EXERCISE 17-3 (10-20 minutes) (a) Conversion recorded at book value of the bonds: Bonds Payable... 500,000 Premium on Bonds Payable... 7,500 Preferred Stock...
More informationNarrowing Your Options! April 29, 2004
Narrowing Your Options! April 29, 2004 Presenters Jim Kroeker Deloitte Audit Partner, Accounting Services Group John Sarno Deloitte Manager, Accounting Standards & Communications Group Bo Davis Deloitte
More informationC H A P T E R 16 DILUTIVE SECURITIES AND EARNINGS PER SHARE
16-1 C H A P T E R 16 DILUTIVE SECURITIES AND EARNINGS PER SHARE Intermediate Accounting 13th Edition Kieso, Weygandt, and Warfield 16-2 Dilutive Securities and Earnings Per Share Dilutive Securities and
More informationMARLIN BUSINESS SERVICES CORP.
Table of Contents 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
More informationFinancial reporting developments. A comprehensive guide. Earnings per share
Financial reporting developments A comprehensive guide Earnings per share September 2011 To our clients and other friends We are pleased to provide you with the latest edition of our Financial reporting
More informationChapter 16: Dilutive Securities and Earnings per Share
Intermediate Accounting, 11th ed. Kieso, Weygandt, and Warfield Chapter 16: Dilutive Securities and Earnings per Share Prepared by Jep Robertson and Renae Clark New Mexico State University Chapter 16:
More informationEITF ABSTRACTS. Title: Application of Issue No to Certain Convertible Instruments. Dates Discussed: November 15 16, 2000; January 17 18, 2001
EITF ABSTRACTS Issue No. 00-27 Title: Application of Issue No. 98-5 to Certain Convertible Instruments Dates Discussed: November 15 16, 2000; January 17 18, 2001 References: FASB Statement No. 3, Reporting
More informationFinancial Accounting & Reporting 7
Financial Accounting & Reporting 7 1. Financial instruments... 3 2. Stockholders' equity... 7 3. Earnings per share... 27 4. Statement of cash flows... 36 5. Homework reading: Ratio analysis... 45 6. Homework
More informationINTERMEDIATE ACCOUNTING
Chapter 16 Retained Earnings and Earnings Per Share INTERMEDIATE ACCOUNTING whole or in part. Objectives 1. Explain the accounting and reporting for different types of dividends. 2. Discuss the accounting
More informationSummary of Key Concepts
Heads Up Audit and Enterprise Risk Services April 13, 2004 Vol. 11, Issue 2 In This Issue: Introduction Summary of Key Concepts Comment Period and Final Thoughts Appendix: Questions and Answers Related
More informationIntermediate Financial Reporting 2 Primer
Intermediate Financial Reporting 2 Chartered Professional Accountants of Canada, CPA Canada, CPA are trademarks and/or certification marks of the Chartered Professional Accountants of Canada. 2018, Chartered
More informationFinancial reporting developments. A comprehensive guide. Share-based payment. Revised October 2017
Financial reporting developments A comprehensive guide Share-based payment Revised October 2017 To our clients and other friends ASC Topic 718, Compensation Stock Compensation provides guidance on accounting
More informationFinancial reporting developments. A comprehensive guide. Earnings per share. July 2015
Financial reporting developments A comprehensive guide Earnings per share July 2015 To our clients and other friends We are pleased to provide you with the latest edition of our Financial reporting developments
More informationWeighted Shares Beginning balance Issued shares Reacquired shares. Shares Outstanding
EXERCISE 17-2 (15-20 minutes) (a) Event Dates Outstanding Shares Outstanding Fraction of Year Weighted Shares Beginning balance Issued shares Reacquired shares Jan. 1 May 1 May 1 Oct. 31 Oct. 31 Dec. 31
More informationTopic: Accounting for the Rescission of the Exercise of Employee Stock Options
Topic No. D-93 Topic: Accounting for the Rescission of the Exercise of Employee Stock Options [Nullified by FAS 123(R) except for entities within the scope of paragraph 83 of FAS 123(R)] Date Discussed:
More informationMAXIM INTEGRATED PRODUCTS, INC.
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 informationORIGINAL PRONOUNCEMENTS
Financial Accounting Standards Board Statement of Financial Accounting Standards No. 123 (revised 2004) Share-Based Payment ORIGINAL PRONOUNCEMENTS AS AMENDED Copyright 2008 by Financial Accounting Standards
More informationSECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 10-Q
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 July 31, 2006
More informationSelected Financial Data (Continuing Operations)
Selected Financial Data (Continuing Operations) Dollars In Thousands Fiscal Year Ended January Except Per Share Amounts 2001 2000 1999 1998 1997 (53 weeks) INCOME STATEMENT AND PER SHARE DATA: Net sales
More informationEITF ABSTRACTS. [Nullified by FAS 123(R) except for entities within the scope of paragraph 83 of FAS 123(R)]
EITF ABSTRACTS Issue No. 88-6 Title: Book Value Stock Plans in an Initial Public Offering [Nullified by FAS 123(R) except for entities within the scope of paragraph 83 of FAS 123(R)] Dates Discussed: March
More informationCorporate Financial Problems. Employee Stock Options. Cisco Systems, Inc.
BACC 635: Project: Corporate Financial Problems Employee Stock Options Company of Study: Cisco Systems, Inc. (Opposition approach) Spring 2005 MS Accounting Student Olena Lake Letter of Comment No: ~ File
More informationFinancial Reporting Presents: Share-Based Payment Transactions: Frequently Asked Questions
Financial Reporting Presents: Share-Based Payment Transactions: Frequently Asked Questions Agenda Current Developments Accounting Valuation Income Taxes Questions & Answers Keep In Mind This webcast is
More informationFiscal Year Ended January 30, January 31, January 25, Dollars in Thousands Except Per Share Amounts (53 weeks)
The TJX Companies, Inc. C O N S O L I D A T E D S T A T E M E N T S O F I N C O M E Fiscal Year Ended January 30, January 31, January 25, Dollars in Thousands Except Per Share Amounts 1999 1998 1997 (53
More informationShare-based payments: FASB simplification initiative and common challenges. American Gas Association Accounting Principles Committee August 15, 2016
Share-based payments: FASB simplification initiative and common challenges American Gas Association Accounting Principles Committee August 15, 2016 Agenda ASU 2016-09 changes to current GAAP Practical
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 informationFINANCIAL STATEMENTS Un-Audited Management Statements For 3 Months Ending December 31, 2009.
FINANCIAL STATEMENTS Un-Audited Management Statements For 3 Months Ending December 31, 2009. GoIP Global, Inc 381 Park Ave South New York, New York 10016 1-917-660-6000 1 CERTIFICATION OF THE EXECUTIVE
More informationFinancial Results for the period ended December 31, 2000 US GAAP. December 31, December 31, March 31, 2000
Balance Sheets as of December 31, December 31, March 31, 2000 (Unaudited) 2000 (Unaudited) 1999 (Audited) ASSETS CURRENT ASSETS Cash and cash equivalents $ 110,891,708 $ 106,789,758 $ 116,599,486 Trade
More informationCONTACTUAL, INC. AND SUBSIDIARY CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) For the Six Months Ended June 30, 2011
CONTACTUAL, INC. AND SUBSIDIARY CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) For the Six Months Ended June 30, 2011 Contactual, Inc. Consolidated Balance Sheets (unaudited) June 30, December 31, 2011
More informationSoftchoice Corporation. Consolidated Financial Statements March 31, 2003 (in thousands of Canadian dollars)
Consolidated Financial Statements (in thousands of Canadian dollars) Consolidated Balance Sheets (in thousands of Canadian dollars) ASSETS Current assets December 31, (audited) Cash and cash equivalents
More informationFASB Interpretation No. 44. Accounting for Certain Transactions Involving Stock Compensation an Interpretation of APB Opinion No.
FREDERIC W. COOK & CO., INC. NEW YORK CHICAGO LOS ANGELES May 1, 2000 (Revised 08/02/02) Overview of Opinion 25 FASB Interpretation No. 44 for Certain Transactions Involving Stock Compensation an Interpretation
More informationCOPYRIGHTED MATERIAL CHAPTER 1. The reporting requirements of the income statement, FINANCIAL STATEMENT REPORTING: THE INCOME STATEMENT
CHAPTER 1 FINANCIAL STATEMENT REPORTING: THE INCOME STATEMENT The reporting requirements of the income statement, balance sheet, statement of changes in cash flows, and interim reporting guidelines must
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION. Washington, D.C FORM 10-K
Form 10-K http://sec.gov/archives/edgar/data/78003/000119312511048877/d10k.htm Page 1 of 41 6/21/2011 10-K 1 d10k.htm FORM 10-K Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington,
More informationTTM TECHNOLOGIES, INC.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 For the quarterly period ended April 3, 2006 FORM 10-Q QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
More informationNATIONAL WESTERN LIFE INSURANCE COMPANY (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 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 informationNotes to Consolidated Financial Statements TDK Corporation and Subsidiaries
Notes to Consolidated Financial Statements TDK Corporation and Subsidiaries 1. Nature of Operations and Summary of Significant Accounting Policies (a) Nature of Operations The Company is a multinational
More informationACC 423 FINAL EXAM TEST
ACC 423 FINAL EXAM TEST 1) When the cash proceeds from a bond issued with detachable stock warrants exceed the sum of the par value of the bonds and the fair market value of the warrants, the excess should
More informationEITF ABSTRACTS. Title: The Effect of Contingently Convertible Instruments on Diluted Earnings per Share
EITF ABSTRACTS Issue No. 04-8 Title: The Effect of Contingently Convertible Instruments on Diluted Earnings per Share Dates Discussed: June 30 July 1, 2004; September 29 30, 2004; November 17 18, 2004
More informationFinancial Instruments: Presentation INTRODUCTION
IAS 32 Financial Instruments: Presentation INTRODUCTION Objective Scope Application The stated objective of IAS 32 is to establish principles for presenting financial instruments as liabilities or equity
More informationBorer Financial Communications Daxor Corporation - Form 10Q - June 30, Rev -() 07/31/ :20:56 daxor.sif, Seq: 1 File Page/Sheet: /
Rev -() 07/31/2008 12:20:56 daxor.sif, Seq: 1 10-Q NO AMEX 0000027367
More informationFirst Calgary Petroleums Ltd. For the year ending December 31, 2004
First Calgary Petroleums Ltd. For the year ending December 31, 2004 TSX/S&P Industry Class = 10 2004 Annual Revenue = Canadian $1.7 million (translated from U.S. dollars at US$1 = Cdn $1.3015) 2004 Year
More informationACCT652 Accounting. Characteristics of Corporations. Characteristics of Corporations. ACCT652 Week 7. Week 7 Corporations and partnerships.
ACCT652 Accounting Week 7 Corporations and partnerships. Some slides Times Mirror Higher Education Division, Inc. Used by permission Michael D. Kinsman, Ph.D. 1 Characteristics of Corporations A corporation
More informationFor the quarterly period ended July 2, PFIZER 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 informationOPERATING ACTIVITIES Net Income
Jan - Mar 18 OPERATING ACTIVITIES Net Income -94,830 Adjustments to reconcile Net Income to net cash provided by operations: Prepaid Consulting Expense 12,500 Accounts payable and accrued expenses 43,994
More informationCPA P1 Corporate Reporting. TOPIC 39 - IAS 33 Earnings Per Share
TOPIC 39 - IAS 33 Earnings Per Share 1 2 3 4 5 6 Basic EPS Example On 1 April 20x1, a company issued $1,250,000 8% Convertible unsecured bonds for cash at par. Each $100 nominal of the loan stock will
More informationNOTES TO CONSOLIDATED FINANCIAL STATEMENTS
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES As used herein, the terms Equifax, the Company, we, our and us refer to Equifax Inc., a Georgia corporation, and its consolidated subsidiaries as a combined
More informationThis workbook is divided into 4 parts to assist your study of IFRS 2 (share based payments). These are briefly explained below.
IFRS 2 WORKBOOK This workbook is divided into 4 parts to assist your study of IFRS 2 (share based payments). These are briefly explained below. PART 1: Here we will be investigating the principles underlying
More informationCurrent Developments New GAAP Requirements and Effect on Accounting for Income Taxes
Current Developments New GAAP Requirements and Effect on Accounting for Income Taxes Greg Pfahl/John Monahan December 8, 2016 New Revenue Recognition Standard Replacing industry-specific guidance, the
More informationAcct 592 SOLUTION Prof. Teresa Gordon
Homework A, Problem 1a - Stock Appreciation Rights (paid in cash) Publicly-traded company Stone Inc. offered stock appreciation rights (S) to its president, Richard Rock, on the appreciation of 100,000
More informationGEORGETOWN UNIVERSITY LAW CENTER - CORPORATE COUNSEL INSTITUTE -
GEORGETOWN UNIVERSITY LAW CENTER - CORPORATE COUNSEL INSTITUTE - Jeffrey M. Kanter March 13, 2003 Frederic W. Cook &Co., Inc. NEW YORK CHICAGO LOS ANGELES Background MANY DIFFERENT FORMS Equity compensation
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
More informationStock based compensation guidance to increase income statement volatility (see update note below)
Stock based compensation guidance to increase income statement volatility (see update note below) No. US2016 03 April 19, 2016 (Revised April 25, 2016) What s inside: Background. 1 Key provisions 2 Income
More informationFASB Concludes Redeliberations on Proposed Interpretation of Opinion 25 Final Interpretation to be Effective July 1, 2000, with Certain Exceptions
Frederic W. Cook & Co., Inc. New York Chicago Los Angeles January 24, 2000 FASB Concludes Redeliberations on Proposed Interpretation of Opinion 25 Final Interpretation to be Effective July 1, 2000, with
More informationDisclosures pursuant to SEBI (Share Based Employee Benefits) Regulations, 2014
Disclosures pursuant to SEBI (Share Based Employee Benefits) Regulations, 2014 The Securities and Exchange Board of India (SEBI), vide its notification dated October 28, 2014, had issued the Securities
More informationCHAPTER 17 EARNINGS PER SHARE AND RETAINED EARNINGS. E17-1 Weighted Average Shares. (Moderate) Stock dividend, stock split, reacquisition.
CHAPTER 17 EARNINGS PER SHARE AND RETAINED EARNINGS CONTENT ANALYSIS OF EXERCISES AND PROBLEMS Number Content Time Range (minutes) E17-1 Weighted Average Shares. (Moderate) Stock dividend, stock split,
More informationStatement of Financial Accounting Standards No. 148
Statement of Financial Accounting Standards No. 148 FAS148 Status Page FAS148 Summary Accounting for Stock-Based Compensation Transition and Disclosure an amendment of FASB Statement No. 123 December 2002
More informationDefining Issues. FASB Proposes to Simplify Accounting for Share-based Payments. June 2015, No
Defining Issues June 2015, No. 15-28 FASB Proposes to Simplify Accounting for Share-based Payments The FASB recently issued a proposed Accounting Standards Update (ASU) intended to simplify the accounting
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 PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly
More informationUniform Application for Investment Adviser Registration
FORM ADV Part II - Page 1 Uniform Application for Investment Adviser Registration OMB APPROVAL OMB Number: 3235-0049 Expires: July 31, 2008 Estimated Average burden Hours per response...9.402 Name of Investment
More informationDRC RESOURCES CORPORATION [An Exploration Stage Company] AUDITED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2004 AND 2003
AUDITED CONSOLIDATED FINANCIAL STATEMENTS AND 2003 DE VISSER GRAY CHARTERED ACCOUNTANTS 401-905 WEST PENDER STREET VANCOUVER, B.C. V6C 1L6 PHONE: 604-687-5447 FAX: 604-687-6737 AUDITORS' REPORT To the
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 informationPrecision Drilling Corporation For the year ending December 31, 2004
Precision Drilling Corporation For the year ending December 31, 2004 TSX/S&P Industry Class = 10 2004 Annual Revenue = Canadian $2,325.2 million 2004 Year End Assets = Canadian $3,850.8 million Web Page
More informationCOPYRIGHTED MATERIAL INDEX 1087
INDEX 1087 A Accelerated depreciation, 233 Accounting basis of, 49, 140 Cash to accrual conversion, 51 Accounting changes, 106 Interim reporting, 789 Accounting information Qualitative characteristics
More informationMICROCHIP TECHNOLOGY INCORPORATED (Exact Name of Registrant as Specified in Its Charter)
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 period ended December
More informationARTVENTIVE MEDICAL GROUP, INC. (Filer) CIK:
ARTVENTIVE MEDICAL GROUP, INC. (Filer) CIK: 0001405249 Print Document View Excel Document Cover Document and Entity Information Financial Statements Notes to Financial Statements Accounting Policies Notes
More informationFASB Emerging Issues Task Force
EITF Issue No. 05-1 FASB Emerging Issues Task Force Issue No. 05-1 Title: The Accounting for the Conversion of an Instrument That Becomes Convertible upon the Issuer's Exercise of a Call Option Document:
More informationIssue No Title: Participating Securities and the Two-Class Method under FASB Statement No. 128, Earnings per Share
EITF Issue No. 03-6 The views in this summary are not Generally Accepted Accounting Principles until a consensus FASB Emerging Issues Task Force Issue No. 03-6 Title: Participating Securities and the Two-Class
More informationMorningstar Document Research
Morningstar Document Research FORM 10-Q BIOMET INC - bmet Filed: June 04, 2007 (period: February 28, 2007) Quarterly report which provides a continuing view of a company's financial position UNITED STATES
More informationCHAPTER 16. Retained Earnings and Earnings per Share CONTENT ANALYSIS OF END-OF-CHAPTER ASSIGNMENTS. 1 Easy 5 Analytic Measurement Comprehension
16-1 CONTENT ANALYSIS OF END-OF-CHAPTER ASSIGNMENTS CHAPTER 16 Retained Earnings and Earnings per Share NUMBER TOPIC CONTENT LO ADAPTED DIFFICULTY 16-1 Dividend Dates Four important dates for recording
More informationOVERVIEW AND CONSIDERATIONS OF STATEMENT OF FINANCIAL ACCOUNTING STANDARDS NO. 123 (REVISED)
8 Financial Accounting Valuation Insights OVERVIEW AND CONSIDERATIONS OF STATEMENT OF FINANCIAL ACCOUNTING STANDARDS NO. 123 (REVISED) Kenneth J. Pantoga, CFA, and Douglas H. Milnes Recently, the Financial
More informationID WATCHDOG, INC. CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED DECEMBER 31, 2011 AND 2010
CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED DECEMBER 31, 2011 AND 2010 CONSOLIDATED FINANCIAL STATEMENTS CONTENTS Consolidated Financial Statements: Report of Independent Registered Public Accounting
More informationCOASTAL INTEGRATED SERVICES, INC. (FORMERLY SIMPLY LIDS) FINANCIAL STATEMENTS December 31, 2016
COASTAL INTEGRATED SERVICES, INC. (FORMERLY SIMPLY LIDS) FINANCIAL STATEMENTS December 31, 2016 COASTAL INTEGRATED SERVICES, INC. BALANCE SHEET (unaudited) December 31, December 31, Assets: 2016 2015 Current
More informationPACIFIC HARBOUR CAPITAL LTD. (formerly Venture Pacific Development Corp.) (Translation of registrant s name into English)
FORM 6-K SECURITIES & EXCHANGE COMMISSION Washington, DC 20549 Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 Of the Securities Exchange Act of 1934 For the month of February 2007 PACIFIC
More informationCertified Equity Professional Institute
Exam Overview Webinars Certified Equity Professional Institute Level 2 Exam Overview Webinar Accounting Certified Equity Professional Institute 2011 http://cepi.scu.edu The information presented herein
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 informationCHAPTER 2 ANSWERS TO QUESTIONS
CHAPTER 2 Note: The letter A indicated for a question, exercise, or problem means that the question, exercise, or problem relates to a chapter appendix. ANSWERS TO QUESTIONS 1. At the acquisition date,
More informationInfosys Technologies Limited and subsidiaries
Infosys Technologies Limited and subsidiaries Consolidated balance sheets as of March 31, 2003 2004 ASSETS Current Assets Cash and cash equivalents $ 354,362,918) $ 444,553,465 Investment in liquid mutual
More informationJOURNAL ENTRIES APPENDIX
The Ultimate Accountants Reference: Including GAAP, IRS and SEC Regulations, Leases, and More, 3rd Edition Steven M. Bragg Copyright 2010 by John Wiley & Sons, Inc. APPENDIX B JOURNAL ENTRIES B.1 ACQUISITIONS
More informationConsolidated Financial Statements of. DataWind Inc. For the year ended March 31, 2015 (in thousands of Canadian dollars)
Consolidated Financial Statements of DataWind Inc. For the year ended March 31, 2015 (in thousands of Canadian dollars) Contents Independent Auditor s Report 2 Consolidated statement of financial position
More informationPage 2 of 34. When cash is receivable The dividend payment date. Date interest ceases accruing. Date interest ceases accruing. The settlement date
Chapter 17 EARNINGS PER SHARE (IAS 33) OBJECTIVE The objective of this IAS is to prescribe principles for the determination and presentation of earning per share. SCOPE This IAS shall apply to the entities
More informationGIGA-TRONICS INCORPORATED (Exact name of small business issuer as specified in its charter)
(Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-QSB þ QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the quarterly period
More informationIndian Accounting Standard (Ind AS) 33. Earnings per Share
Indian Accounting Standard (Ind AS) 33 Earnings per Share 2 Indian Accounting Standard (Ind AS) 33 Earnings per Share CONTENTS Paragraphs OBJECTIVE 1 SCOPE 2 4A DEFINITIONS 5 8 MEASUREMENT 9 63 Basic earnings
More informationCondensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2018
(An exploration stage company) Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2018 NOTICE TO READER: These condensed interim consolidated financial
More informationEITF Issue No
Frederic W. Cook & Co., Inc. New York Chicago Los Angeles EITF Issue No. 00-23 Issues Related to the Accounting for Stock Compensation under APB Opinion No. 25 and FASB Interpretation No. 44 08/02/02 (Revised)
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 informationStatement of Financial Accounting Standards No. 84
Statement of Financial Accounting Standards No. 84 FAS84 Status Page FAS84 Summary Induced Conversions of Convertible Debt (an amendment of APB Opinion No. 26) March 1985 Financial Accounting Standards
More informationUCORE RARE METALS INC. (A Development Stage Enterprise)
(A Development Stage Enterprise) Unaudited Interim Consolidated Financial Statements Third Quarter In accordance with National instrument 51-102, released by the Canadian Securities Administrators, the
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 informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-Q. TTM TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September
More informationHKAS 33 Earnings per Share 1 November 2005
HKAS 33 Earnings per Share 1 November 2005 1. Objective of HKAS 33 The objective of HKAS 33 Earnings per Share is to prescribe principles for the determination and presentation of earnings per share, so
More informationArticle THE BUSINESS TAXATION PRACTICE GROUP
Article THE BUSINESS TAXATION PRACTICE GROUP WIGGIN AND D A N A Counsellors at Law New Rules Regarding the Expensing of Compensatory Published in Tax Newsletter - Connecticut Bar Association, August 2,
More informationFinancial Statements
Financial Statements Index to Financial Statements F-2 Consolidated Statements of Operations for the years ended December 31, 2005, and F-3 Consolidated Statements of Comprehensive Income for the years
More informationHYLETE, INC. FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015 Index to Financial Statements Pages Independent Auditors Report 1 Balance Sheets as of December 31, 2016 and 2015 2 Statements
More informationPROSPECTUS 626,600,000 SHARES COMMON STOCK 2003 KEY ASSOCIATE STOCK PLAN, AS AMENDED AND RESTATED EFFECTIVE APRIL 28, 2010
PROSPECTUS 626,600,000 SHARES BANK OF AMERICA CORPORATION COMMON STOCK 2003 KEY ASSOCIATE STOCK PLAN, AS AMENDED AND RESTATED EFFECTIVE APRIL 28, 2010 This Prospectus relates to the offer and sale of up
More informationCertified Equity Professional Institute
Exam Overview Webinars Certified Equity Professional Institute L1 Exam Overview Webinar Accounting The information presented herein is of a general nature and has been simplified for presentation to a
More informationBANK OF THE OZARKS (Exact name of registrant as specified in its charter)
UNITED STATES FEDERAL DEPOSIT INSURANCE CORPORATION Washington, D.C. 20429 FORM 10-Q (Mark one) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly
More informationPage 2 of 199 UNITED STATES SECURITIES AND EXCHANGE COMMISSION. Washington, D.C FORM 10-K
Page 2 of 199 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal
More informationAxis Bank Limited. Employee Stock Option Schemes (ESOSs) Disclosure Pursuant to Regulation 14 of SEBI (Share Based Employee Benefits) Regulation, 2014
Axis Bank Limited Employee Stock Option Schemes (ESOSs) Disclosure Pursuant to Regulation 14 of SEBI (Share Based Employee Benefits) Regulation, 2014 Disclosure under Guidance Note on Accounting for Employee
More informationMOLSONeoou. File Reference: Proposed FSP APB 14-a. Dear Mr. Golden:
MOLSONeoou $%44 F S P A P B 1 4 - A October 15, 2007 2007 LETTER OF COMMENT NO. 3 t LEDER OF COMMENT No.3 (" Russell G. Golden Director of Technical Application and Implementation Activities Financial
More information