ACC 501 Case Assignment 1 (Accounting for Cesision Making Essay

ACC 501 Case Assignment 1 (Accounting for Cesision Making - Essay Example According to the disclosure in its Annual Review, standards appropriate to ‘current legislation’ and the company’s Articles of Association are used. As countries listed with the EU securities market use the International Financial Reporting Standards for reporting purposes, it is concluded that the parent company prepares its consolidated financial statements according to the IFRS (Weygandt, Kimmel, & Kieso, 2010). The Auditing Board of the Central Chamber of Commerce undertakes responsibility for local auditing standards within Finland, so it can also be concluded that relevant audit standards used by Fazer Group are as per ABC (DeloitteToucheTohmatsuLimited, 2013). Comparability of the income statement may be difficult as Fazer group’s income statement does not incorporate Cost of Sales or Cost of Goods Sold as an individual line item whereas Caribou’s income statement does. Fazer’s statements have specified increase or decrease in inventory stock individually whereas Caribou’s have included inventory movements within COS. This may give rise to comparability issues within the operational cost heads of the two companies (KPMG, 2012). Caribou’s statement of cash flows does not incorporate the impact of the finance cost, dividends paid and tax paid after the ‘changes in operating assets and liabilities’ segment of the cash flows from operating activities; instead the information is provided as supplementary disclosure at the end of the statement of cash flows. As per IFRS regulations, this adjustment is made in Fazer’s statement of cash flows. This, eventually, creates a discrepancy between the final figures for operating cash flows for the two companies. Conclusive statements about the companies’ performances based on the statement of cash flows cannot be drawn as a result. Purchase of the subsidiary is incorporated within the investing activities of Fazer Group; however,

Personal Response of The Piano Lesson by August Wilson Assignment

Personal Response of The Piano Lesson by August Wilson - Assignment Example In fact, it was confusion that I experienced for I could not understand why keep a thing that makes one suffer and that one does not use at all. In addition to this, Doaker mentions that â€Å"she [Bernice] say it [the piano] got blood on it† (Wilson 10). It is obvious Bernice does not play it because of some superstitions she has and keeping the piano at home seems to be unreasonable. Moreover, Bernice’s brother needs the money that could be obtained if the instrument is sold for a good purpose. Of course, he wants to buy the land to be a master there; he also wants to buy it, however, to be the master of the land on which his ancestors were enslaved. When the long and tragic story of the piano was revealed to me, I experienced a belief conflict as I understood the actual value of the musical instrument. It appears to be both a symbol of both a family reunion and a reminder of slavery. Thus, it is more than an instrument: â€Å"[Boy Charles] Say [the piano] was the story of our whole family and as long as Sutter had it†¦ he had us. Say we was still in slavery† (Wilson 45). On the one hand, the idea of buying Sutter’s land is the way to pay tribute to the ancestors and the opportunity to create happier future. On the other hand, selling the piano may be compared to selling the family’s past. I hesitated whose side to take almost to the very last scene of the play, in which the author of the piece himself suggests what is right. The character that appeals to me is Boy Willie. It is mostly so because of his practical and somewhat down-to-earth view on life. He is the character that introduces the conflict into play saying he plans to sell the piano to buy the land. He says, â€Å"The only thing make the piano worth something is them carvings Papa Willie Boy put on there. [†¦] Papa Boy Charles brought that piano into the house. Now, I’ m supposed to build on what they left me† (Wilson 51). In other words, for Boy Willie, selling the instrument to buy the