Paramedics wheel an injured middle-aged man into an emergency room of a small hospital in a town of 1,700 people on the western edge of North Dakota. As that hospital's staff begins to assess the man's trauma, they receive assistance from a physician who specializes in emergency care. He's not in the emergency room with them. Instead, he participates in the patient assessment via a high-definition, two- way video system while sitting about 600 miles east of the small hospital.
The going-concern assumption is universally understood and accepted by accounting professionals. Indeed, the assumption of a going concern is critical to the decision usefulness of financial information under the accrual basis of accounting. It has, however, received little attention in the accounting literature and has never been formally incorporated into US GAAP. Auditors are about to get relief. Sometime during the first quarter of 2011, FASB intends to issue a Statement of Financial Accounting Standards, Going Concern. When adopted, this standard will leave no doubt as to who is charged with making the going-concern determination. Such responsibility will be clearly placed on management. Those responding to the exposure draft generally agreed with FASB's proposed move to include a ...
... of a comprehensive going concern assessment. If, after such assessment, management concludes t... disclosure requirements, and the definition of a going concern. Types of information required ...
... will receive an environmental assessment. The definition of such a proposal is contained in...
Earning's quality is an important aspect of evaluating an entity's financial health, yet investors, creditors, and other financial statement users often overlook it. Earnings quality refers to the ability of reported earnings to reflect the company's true earnings, as well as the usefulness of reported earnings to predict future earnings. The SEC and the investing public are demanding greater assurance about the quality of earnings. There is significant need for the development of a uniform definition and a consistent model to measure earnings quality. An Earnings Quality Assessment (EQA) is a proposed model that is consistent with this definition. The EQA recognizes many of the fragilities of GAAP, and takes into account factors that are expected to affect future earnings but that are ...
... federal courts from restraining "the assessment, levy or collection of any tax under State law whe... made clear that, under the IRC definition, an "assessment" serves as the trigger for levy an...
Issued by FASB in 2006, SFAS 157, Fair Value Measurements, provides a comprehensive framework plus specific implementation guidance on the measurement of fair value and required disclosures. SFAS 157 itself does not require that fair value be applied to specific items; it merely clarifies how to value items that must be measured as such. SFAS 157 includes sections on its scope, fair value measurement, initial recognition, valuation techniques, inputs to valuation techniques, fair value hierarchy, disclosures, and transition issues. Management should aim for the most representative and reliable estimate, while maximizing the quality of the inputs and considering the particular attributes affecting the fair value. In measuring the fair value of assets and liabilities, it is the selling pr...
...SFAS 157 offers a single definition of fair value that will assist in die assessment o...
...She describes how Role-Based Assessment accurately predicts potential employees' workplace... Assessment, she can comment on the new definition of job fit - a two-way process that makes or break...
.... Assessment and Definition of the Presence of Visible In-House...
GEMINI (May 21-June 20) -- If you are looking for some good buys, follow your definition of a true bargain rather than that of a slick- talking salesperson. Your assessment will be correct. CANCER (June 21-July 22) -- Give yourself ample room to move about and do your own thing. If you start to feel stifled, chances are it will be because of the fact that you are getting in your own way.
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