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Assets That Must
More than 10.000 documents for Assets That Must
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According to GASB Statement No. 51, Accounting and Financial Reporting for Intangible Assets, intangible assets are really nothing more than a subcategory of capital assets. Thus, all authoritative guidance applicable to capital assets applies to intangible assets. SGAS 51 notes that an intangible asset must meet one or both of the following criteria before it can be recognized: 1. the item is capable of being separated or divided from the government and sold, transferred, licensed, rented, or exchanged, either individually or together with a related contract, asset, or liability, or 2. the item arises from contractual or other legal rights, regardless of whether those rights are transferable or separable from the entity or from other rights and obligations. SGAS 51 identifies three sta...
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When issued, FASB Statement of Financial Accounting Standards (SFAS) 157, Fair Value Measurements, sought to bring a consistent definition and framework to the deployment of fair value measurements in accounting. It is expected that the fair value frontier will continue to push outward and eventually encompass more than just financial assets and liabilities. Revisiting the previous definition, it seems clear enough that the land must be accounting-valued based upon its agricultural usage. Agriculture is the only legally permissible use. Transaction costs are the incremental direct costs required to transact in the principal or most advantageous market. As a general rule, such costs do not reduce the fair value of an asset. They ordinarily relate to commissions, legal fees, and other clo...
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The State presented sufficient evidence of aggravated menacing and finding of guilty was not against manifest weight of the evidence where officer's testimony and 911 recording showed Defendant knowingly caused the victim to believe that he would cause serious physical harm to victim or family member of victim when he threatened and attacked victim with a butcher knife. Criminal Rule 32(B) does not require that a trial court advise a defendant of his right to appeal in misdemeanor case that is not punishable by confinement in excess of six months. R.C. 2947.14 requires a trial court to find that a defendant is able to pay a fine but refuses to do so before ordering the defendant to jail for the non-payment of fines. These findings must be in a judgment entry that indicates the offend...
... that indicate the offender’s income, assets, and debts, as presented by the offender, and...
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The recent changes to fair value accounting and to the criteria for other-than-temporary loss recognition in current earnings pose real risks to sound financial reporting by banks and thrifts. As a result of an unprecedented rush to appease the critics of fair value accounting in Congress and elsewhere -- who had succeeded in spreading the impression that the current recession and crippling dearth of bank lending activity was the direct result of exaggerated asset write-downs caused by the recently promulgated fair value accounting standard (SFAS 157, Fair Value Measurements) -- the FASB has now enacted revised guidance on the measurement of fair value and, in a related move, on the reporting of certain other-than-temporary losses on debt instruments held as assets. For auditors, the cl...
... of fair value, then further analyses must be performed in order to ascertain whether signifi...
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The Commodity Futures Trading Commission (``CFTC'') and the Securities and Exchange Commission (``SEC'') (collectively, ``we'' or the ``Commissions'') are adopting new rules under the Commodity Exchange Act and the Investment Advisers Act of 1940 to implement provisions of Title IV of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The new SEC rule requires investment advisers registered with the SEC that advise one or more private funds and have at least $150 million in private fund assets under management to file Form PF with the SEC. The new CFTC rule requires commodity pool operators (``CPOs'') and commodity trading advisors (``CTAs'') registered with the CFTC to satisfy certain CFTC filing requirements with respect to private funds, should the CFTC adopt such require...
...Advisers must file Form PF electronically, on a confidential bas...
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Corporate scandal has plagued people these last few years. Some CEOs have been held accountable, being indicted and even serving time. Very few directors have faced significant penalties or scrutiny, even in extreme shortages of board governance such as was the case with Enron. But one could argue that just being legal does not mean they were blameless and that their job was really about something more. Most CU directors understand they have a legal duty to members. They know they must ensure that the valued assets members have entrusted to the board are actually taken care of, that the board loyally ensures decisions are made in the best interests of the members, and that the board responds to directives from members. Most directors are on the board because they believe in the CU and c...
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Mainers' creativity will lead the state's struggling economy into the future, but first Maine must tackle serious economic challenges and promote its notable assets. That was Roxanne Quimby's message Wednesday to 230 business people at the Portland Regional Chamber's monthly Eggs & Issues breakfast at the Holiday Inn by the Bay.
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INDIANAPOLIS - Indiana Attorney General Greg Zoeller is stepping in on behalf of 78 county prosecutors named in a civil lawsuit challenging the way they handle assets seized from criminals. State law allows prosecutors to keep some seized assets to cover "law enforcement costs," and beyond that, the money must be directed into the state's common school fund. But prosecutors also have a great deal of discretion to decide what constitutes law
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The evolving global financial crisis has dominated headlines for months, primarily because of the multifaceted nature of the events. One aspect that has been overlooked, however, is the toxic statistics that polluted financial analyses -- an occurrence similar to the statistics that sully many operational analyses. Many leaders manage by the numbers and treat the practice as a scientific approach to industrial management. But that misapplication often creates toxic statistics. Standard cost accounting uses generally accepted practices to count cash flows, to reconcile income received with expenditure of funds and to calculate profit earned from the organization's capital assets. Organizations must use statistics appropriately to understand process distinctions that impact financial resu...
