Fr Certification Guides}

Submitted by: Michael Pappas

Question: 1

On 1 April 2012, Hunting plc acquired 70% of the ordinary shares of ICM Ltd. The following figures relate to the year ended 31 December 2012. Hunting plcICM Ltd

$$ Revenue769,000600,000

Cost of sales 568,500420,000

Gross profit200,500180,000

On 15 November 2012 ICM Ltd sold goods which cost it $5,000 to Hunting plc for $7,000. These goods were still held by Hunting plc at 31 December 2012.

What is the amount for gross profit in the consolidated income statement of Hunting plc for the year ended 31 December 2012?

A. $335,500

B. $333,500

C. $983,500

D. $985,500

Answer: B

Question: 2

A conceptual framework is a statement of generally accepted theoretical principles which form the frame of reference for financial reporting.

Which of the following is NOT a disadvantage of conceptual framework?

A. Standards are developed on patchwork basis.

B. Conceptual frameworks are developed for preparing financial statements that is intended for wide range of users.

C. Financial statements are used for variety of purposes.

D. The task of preparation and implementation of standards.

Answer: A

Question: 3

Where transactions have taken place between related parties, the entity should disclose the nature of the related party relationships, as well as information about the transactions and outstanding balances necessary for an understanding of the potential effect of the relationship on the financial statements. The disclosures must include the following, except

A. The amount of the transactions.

B. The amount of retained earnings.

C. Provisions for doubtful debts related to the amount of outstanding balances.

D. The expense recognized during the period in respect of bad or doubtful debts due from related parties.

Answer: B

Question: 4

Jerry Co has a defined benefit plan. At the financial year end, the plan has the following values:

$m Fair value of plan assets65 Present value of pension obligation52.5 Cumulative unrecognized actuarial losses2 Present value of refunds from the plan and reductions in future contributions11.5

What is the value of the pension in the statement of financial position?

A. $(12.5)m

B. $(14.5)m

C. $(10.5)m

D. $10.5m

Answer: B

Question: 5

Sarah plc has owned 100% of the ordinary share capital of Ulysses Ltd and Wally Ltd for many years. Ulysses Ltd operates in a country in Central Africa. In June 2013, civil war broke out in this country. Essential services have been severely disrupted and it has been impossible to communicate with local personnel for several months. This situation is unlikely to be resolved inthe near future. Wally Ltd is an insurance company. The rest of the group extracts and processes mineral ores.

In accordance with IAS 27 Consolidated and Separate Financial Statements and IFRS 3 Business Combinations which of these companies must be consolidated by Sarah plc at 31 December 2013?

A. Ulysses Ltd only

B. Wally Ltd only

C. Both Ulysses Ltd and Wally Ltd

D. Neither Ulysses Ltd nor Wally Ltd

Answer: B

Question: 6

Which of the following are roles of the IFRS Foundation?

(1)To issue IFRS

(2)To examine any identified or alleged departures from IFRS

(3)To guide the International Accounting Standards Board (IASB)

(4)To secure finance

A. (1) and (2)

B. (1) and (3)

C. (2) and (4)

D. (3) and (4)

Answer: D

Question: 7

Gene Ltd has the following assets and liabilities at 31 December 2005. Note$ Fixtures and fittings at carrying amount(1)10,000

Receivables(2)8,000

Cash and cash equivalents1,000

Payable(5,000) 14,000

Notes

(1) The fixtures and fittings have been held for three years and had an estimated useful life of six years. If the fixtures and fittings were to be sold on 31 December 2005 they would realise $14,000

(2) If Gene Ltd was to cease trading it is estimated that an allowance against receivables of $500 would need to be made

At what amount would the net assets be stated in the statement of financial position of Gene Ltd at 31 December 2005 under the breakup basis?

A. $17,500

B. $13,500

C. $14,000

D. $15,000

Answer: A

Question: 8

The requirements of IFRS 5 Non-current Assets Held for Sale and Discontinued Operations result in the separation of the financial position and financial performance of those activities which will continue into the future from those which will not. This provides a clearer base for projections into the future than if the position and performance of both types of activity were merely amalgamated. Which of the following qualitative characteristics has been reflected in the formulation of IFRS 5 Non-current Assets Held for Sale and Discontinued Operations?

A. Understandability

B. Relevance

C. Reliability

D. Comparability

Answer: B

Question: 9

Taylor buys a machine on three months credit from France for 50,000 on 15 December 2012. The machine has not been paid for by Taylors year end of 31 December 2012. The exchange rates are as follows:

DateRate

15 December 2012$1: 1.25

31 December 2012$1: 1.30

What is the journal to initially recognise the transaction?

A. DrNon-current assets$40,000 CrPayables$40,000

B. DrPayables$40,000 CrNon-current assets$40,000

C. DrNon-current assets$38,462 CrPayables$38,462

D. DrPayables$38,462 CrNon-current assets$38,462

Answer: A

Question: 10

According to IAS 1 Presentation of Financial Statements, which of the following statements is / are correct?

(i)The accounting policies adopted by a company must be disclosed in the notes to the financial statements

(ii)Inappropriate accounting policies can be rectified by disclosure of the policies used or by the inclusion of explanatory material

(iii) Companies may choose to prepare their financial statements (except for the statement of cash flows) on either the accrual basis or the cash basis

A. (i), (ii) and (iii)

B. (i) and (ii) only

C. (ii) and (iii) only

D. (i) only

Answer: D

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Wikinews interviews candidate for New York City mayor Vitaly Filipchenko

Wednesday, June 16, 2021

In early May, Wikinews extended an invitation to Vitaly Filipchenko, an independent candidate in the 2021 New York City mayoral election, set to take place November 2nd, alongside other candidates. Filipchenko answered some questions about his policies and campaign during a phone interview.

Filipchenko, registered on the New York City Campaign Finance Board as Vitaly A. Filipchenko, is the first Russian candidate for New York City mayor, being born in Tomsk, Siberia in 1973, according to news agency Sputnik. He has since naturalised as a United States citizen. According to the web site, Filipchenko has been educated in road construction and maintenance and owns a moving services company; he describes himself on his web site as a “small business owner”. On his web site’s platform page, he says that “[m]y English may not be perfect – but my platform is.”

Incumbent Democrat mayor Bill de Blasio, who won re-election in the 2017 New York City mayoral election by 66.5%, cannot run for a third term under term limits. As of April 28, 22 candidates are currently running, the majority of whom are also Democrats. Ahead of the June Democratic primary for New York City mayor, a poll conducted May 23 and 24 by WPIX and Emerson College of 12 Democratic candidates with a margin of error of 3.2 per cent has former commissioner for the New York City Department of Sanitation Kathryn Garcia and Borough President of Brooklyn Eric Adams leading with 21.1% and 20.1%, respectively.

Retrieved from “https://en.wikinews.org/w/index.php?title=Wikinews_interviews_candidate_for_New_York_City_mayor_Vitaly_Filipchenko&oldid=4623495”

Category:August 2, 2010

? August 1, 2010
August 3, 2010 ?
August 2

Pages in category “August 2, 2010”

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Rising Incidence Of Cancer Is Driving The Global Picture Archiving &Amp; Communications Systems Market

A picture archiving and communication system (PACS) is an imaging technology providing economical and convenient storage as well as access to images. The global picture archiving and communications systems market is expected to gain an upward trajectory owing to explosive adoption of information technology in the healthcare sector.

According to Market Research Future (MRFR), the global picture archiving and communications systems market is expected to register a CAGR of over 4.43% over the assessment period (2016-2023). The attractive advantages of the picture archiving and communications systems such as elimination of manual documentation, error free archiving, digital transmission of data and the greater efficiency and ease associated with the process is driving a large demand.

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The influx of information technology and the ubiquitous availability and adoption of smart devices, emerging web technology, and others is resulting in timely and efficient access to data. Elimination of physical barriers owing to centralization of data is also contributing towards the market growth.

The development of universal image storage and transfer standard for PACS coupled with flexibility to incorporate other standard formats such as PDF is resulting in faster adoption of PACS. The expanding adoption of imaging technologies such as computed tomography (CT) and magnetic resonance imaging (MRI) in the hospitals are other drivers of the market.

Additional factors that are fostering the market demand include the dramatically rising end-users such as hospitals and the increasing incidence of diseases.

Picture Archiving and Communications Systems Market – Segments

The report is segmented into six dynamics to widen the scope of understanding,

By Type: Oncology PACS, Cardiology PACS, Dental PACS, Orthopaedics PACS, among others.

By Components: Hardware (Access Devices, Peripherals, Servers, Storage Devices, and Networking Devices), Software, Services (Consulting, Implementation Services, Post-Sales and Maintenance Services, and Training Services), among others.

By Imaging Type: Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Nuclear Imaging, X-Ray, Ultrasound, among others.

By Delivery Mode: Cloud-Based (Saas) Delivery Mode, Web-Hosted (On-Demand) Delivery Mode, And On-Premise Mode, among others.

By End-use: Hospitals And Clinics, Healthcare Centers, Imaging Centers, Diagnostic Centers, Clinical Research Institutions, among others.

By Regions: North America, Europe, Asia Pacific, and the Rest-of-the-World.

Global Picture Archiving and Communications Systems Market – Regional Analysis

North America dominates the global picture archiving and communications systems market owing to rapid adoption of technology, presence of large hospitals and the consolidation of healthcare sectors resulting in increase in purchasing power.

The entry of technology companies in the medical devices sector is also boosting the market growth. Moreover, the established healthcare sectors and high healthcare expenditures is driving a substantial demand for the growth of the market.

Europe accounts for another large share of the picture archiving and communications systems market owing to large healthcare expenditure and the proliferating information technology and pharmaceutical industry in the region. The presence of large players in the region is providing a boost to the market growth.

The Asia Pacific picture archiving and communications systems market is expected to be in a flux and represents a bimodal nature. Japan, Australia and South Korea are leading the Asia Pacific market. However, China and India are expected to drive a momentous growth owing to their economic development.

Picture Archiving and Communications Systems Market – Competitive Landscape

The picture archiving and communications systems market is dominated by handful of large firms resulting in a pricing premium on the products. The industry is intensive in terms of intellectual property and technology which makes market entry a challenge for small players.

Manufacturers rely on collaboration and partnerships with other players to innovate new products and to cut down the development costs and time.Manufacturers of picture archiving and communications systems use a variety of distributions channels and are increasingly engaging the social media to generate inbound leads.

Major Players:

Players leading the global picture archiving and communications systemsmarket include Siemens Healthineers, Advanced Data Systems, Allscripts Healthcare Solutions, Inc., Telediagnostics Services Pvt. Ltd.,Konica Minolta Healthcare Americas Inc., Alta Vista Teleradiology, Avreo, Inc., Radiology Imaging Solutions, Scimage, Inc., Brit Systems, Comarch SA, Cybernet Medical Corporation, Virtual Radiology (vRAD),GE Healthcare, INFINITT Healthcare, McKesson Corporation,Inc., ONRAD, Inc., Pacshealth, LLC, FujiFilm Medical Systems, Perfect Imaging, LLC, RamSoft, Inc., Global Diagnostics, Sectra Imtec AB, Sectra Imtec AB, Singular Medical Technologies, StatRad, LLC, Agfa-Gevaert N.V., Argus Radiology, Telerad Tech Private Limited, among others.

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Industry/ Innovation/ Related News:

Sep 11 2018 —-Mercy Technology Services, launched its latest picture archiving communication system (PACS) imaging solution, as a Software as a Service system. The system has an automated workflow orchestrator which auto-coordinates the physicians worklist through speech recognition and reporting technology adopted from Nuance. Mercy has already adopted the system in its care facilities. The system claims to increase report turnaround time by up to 50 percent. The PACS system is an addition to Mercy Technology Servicescloud solution, launched earlier in partnership with VMware.

Judge orders Baltimore City prison to produce plan for improvement

Saturday, July 2, 2005

A city Circuit Court judge in Baltimore, Maryland, John M. Glynn, ordered state corrections officials on Friday to produce in 30 days a written report that will outline plans to reduce over crowding and slow processing times at the city’s Central Booking and Intake Center. The state-run facility is a centralized jail designed to process arrests made by all city police precincts and is the gateway into the criminal justice system of suspects taken into custody in the city of 640,000 people.

In the last 3 months, over 80 arrestees were released from the Central Booking facility without being formally charged. In April this year, a temporary restaining order was issued by Judge Glynn against the facility to enforce the release of those held more than 24 hours after their intake who did not receive a hearing by a court commissioner. The commissioner sets bail, if granted, and formalizes the charges filed by the arresting officer. The charges are then entered into the state’s computer system where the case is tracked. The hearing also marks the date for the suspect’s right to a speedy trial.

The Friday hearing was called after the city mayor’s office of Martin O’Malley filed a motion to join a lawsuit that was brought by public defenders on behalf of those criminally detained at the facility. In Maryland, a hearing with a court commissioner within 24 hours of being arrested is state law. Judge Glynn presided over that lawsuit which led to the temporary restraining order. The order is to remain in effect until November.

Aides to O’Malley are seeking help from his court to implement and then monitor procedural changes at Central Booking, and made sharp criticisms of state public safety officials. One mayor’s aide said, ”We continue to offer management solutions, and they are accepted. But you know what? I don’t have time to run [Central Booking], nor does the police department.”

Judge Glynn expressed concern during the hearing that a purely judicial remedy may not be the answer, and said, “If I find that it is a hopeless disaster… what can I do about that?” He peppered parties to the suit with questions and suggested there is the possibility that political action, not court intervention, may be needed to solve what city and police officials call inefficient management practices by the state.

Glynn also requested parties to the suit to report back on what happened to the 80+ arrestees who were released so far as a result of the restraining order. The suspect could be re-arrested if officers knew the circumstances of the release, but police say that would take time and money to work out. An arrestee released without seeing a court commissioner has as the only record of the offense the hand written charging document by the officer.

The Maryland attorney general’s office representing the corrections officers said at the hearing that city police are part of the problem by not filing charging documents at Central Booking when the arrestee is delivered and processing begins. The state must accept the prisoners, but cannot move forward without the necessary documents. They also say city police sometimes flood the facility, which can create temporary backlogs.

Central Booking was designed to process 60,000 suspects a year, but currently handles nearly 100,000. It was built to accommodate 900 people at any one time, but normally crowds in 1,200. Arrestees describe conditions in holding cells with no room to sit on the floor, and being crammed in with people who suffer with health problems or drug addicts who vomit from withdrawal.

Retrieved from “https://en.wikinews.org/w/index.php?title=Judge_orders_Baltimore_City_prison_to_produce_plan_for_improvement&oldid=1558643”

US Department of Justice investigating Ford over emissions testing problems

Sunday, April 28, 2019

On Friday Ford Motor Company announced the United States Department of Justice was performing a criminal investigation of Ford’s internal emission testing practices. Ford said in a financial filing to the U.S. Securities and Exchange Commission that the criminal investigation started on some unspecified date after Ford voluntarily disclosed the matter to the federal government on February 21.

Ford said in their filing the matter “currently focuses on issues relating to road load estimations, including analytical modeling and coastdown testing”, and “does not involve the use of defeat devices” which were an issue with another automaker previously.

“Ford is fully cooperating with the government, and we’ll keep them posted on what we’re finding through our investigation and technical review”, Ford told The Verge. In the filing itself Ford also made this point, writing “In addition, we have notified a number of other state and federal agencies. We are fully cooperating with all government agencies.”

In February, Ford announced investigating itself, following employee concerns that emission testing calculation could be inconsistent. The employees were reportedly concerned about the calculation of “road load”, a measurement of ordinary resistance factors such as tire resistance and aerodynamic drag.

Ford started its investigation by hiring law firm Sidley Austin, according to The Verge.

According to the filing, Ford voluntarily disclosed this matter to the U.S. Environmental Protection Agency on February 18, and also to the California Air Resources Board on February 21.

Retrieved from “https://en.wikinews.org/w/index.php?title=US_Department_of_Justice_investigating_Ford_over_emissions_testing_problems&oldid=4481411”

Public Speaking Is An Art

Submitted by: Nate K.

Public speaking can be referred to as an act of speaking to a group of people or a crowd. This act of speaking is done in order to convince and entertain the people in a formal and polite manner. In North America, the art and science of speaking to a group of people is referred to as forensics which literally gives the meaning ‘public argument or debate’.

The real intention of public speaking may be to entertain a crowd or to motivate them for a certain cause or transmitting information. It can also be like telling a simple story.

History of public speaking

The early known framed rules for public speaking dates back to 500 B.C. The principles of public speaking were practiced in Greece. However, there have been certain modifications in the rules and principles of this type of presentation due to the fact that societies and cultures have been changed from the olden days as the technology and other things developed.

[youtube]http://www.youtube.com/watch?v=i1q_nB_AGeM[/youtube]

Nowadays there are several advanced medium through which we can speak fluently to a group of people. Internet plays a vital part in this sophisticated way of public speaking. Another feature is the video conferencing through which you can see and address the entire crowd even from one end to the other end of the world.

Training for public speaking

There are many clubs that are spread worldwide, which effectively teaches and trains with the art of public speaking. Some of the clubs are Toastmasters, Rostrum, the ASC or Association of Speakers Club and International Training in Communication or ITC. These organizations provide a strategic training for speaking to groups of people.

More often, the training program involves the following structure. The sequence starts with the training to oratory skills followed by the use of gestures, control of voice, vocabulary, speaking notes and the use of humor in between the speech. The training also teaches how to develop a relation with the audience.

Using the platforms that are mentioned above can yield great results. It is possible to develop the speaking skill in a very effective manner. Great leaders such as Hitler, Abraham Lincoln and Martin Luther King are some of the finest examples of good orators or public speakers who had a great impact on the society and had some influence over the people.

International Organizations

As mentioned above there are numerous organizations that offer development program for public speaking. The Toastmasters international is an organization that has many branches or clubs worldwide assisting their members to develop their speaking skills and leadership skills.

Apart from the international organizations, there are also other national organizations that provide guidance program for their country people. For instance, The National Forensics Association is a national non-profitable organization that provides many training sessions that help in improving the speaking and leadership qualities of a person.

The American Forensics Organization is another educational organization that features many new guidance programs that help their country people in improving their public speaking skills. Various countries also have these sorts of national organizations for providing their country people with good speaking skills.

About the Author: As a public speaking teacher, N. Kay helps students and professionals become better public speakers. You can visit his

public speaking tips

website for a step by step list on how to write an effective speech. You can also find lots of informative speech topics and

persuasive speech topics

to help you succeed in making the most effective speech for your speech c

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Texan bystanders kill car passenger after child injured

Wednesday, June 20, 2007

A man who was trying to protect the driver of a vehicle that had hit a child pedestrian was killed by an angry crowd the evening of Wednesday, June 20, in Austin, Texas.

The man was identified today by Austin police as David Rivas Morales, age 40. The driver had just dropped Morales off at his sister’s townhouse moments before. Then while still in the parking lot, he allegedly bumped the toddler with the vehicle. The child was not injured and was not taken to the hospital. A group of 3 or 4 men confronted the driver and Morales came back to assist him. The assailants then turned on Morales. Police indicated the driver, who had escaped the scene of the crime, was cooperating with the investigation. Morales died at the hospital from injuries that included a cracked skull and brain hemorrhaging.

The neighborhood was crowded at the time with some 2,000 to 3,000 people who were participating in the annual Juneteenth celebration, which commemorates the day the emancipation of slaves was announced in Texas. It was not immediately known whether any of the attackers had been part of the celebration.

In a news conference on Wednesday, members of League of United Latin American Citizens called on the community not to assume the killing was racially motivated solely because Juneteenth celebrants are predominately African-American and the victim was Latino. Police officers stated that early reports were incorrect in implying thousands of potential witnesses, as investigations suggested only 10 to 15 people had been in the parking lot when the incident occurred and most of these were residents of apartments nearby.

Retrieved from “https://en.wikinews.org/w/index.php?title=Texan_bystanders_kill_car_passenger_after_child_injured&oldid=724867”

Wikinews interviews Rocky De La Fuente, U.S. Democratic Party presidential candidate

Thursday, March 31, 2016

Businessman Rocky De La Fuente took some time to speak with Wikinews about his campaign for the U.S. Democratic Party’s 2016 presidential nomination.

The 61-year-old De La Fuente resides in San Diego, California, grew up in Tijuana, and owns multiple businesses and properties throughout the world. Since getting his start in the automobile industry, De La Fuente has branched out into the banking and real estate markets. Despite not having held or sought political office previously, he has been involved in politics, serving as the first-ever Hispanic superdelegate to the 1992 Democratic National Convention.

De La Fuente entered the 2016 presidential race last October largely due to his dissatisfaction with Republican front-runner Donald Trump. He argues he is a more accomplished businessman than Trump, and attacks Trump as “a clown,” “a joke,” “dangerous,” and “in the same category as Hitler.” Nevertheless, De La Fuente’s business background begets comparisons with Trump. The Alaskan Midnight Sun blog described him as the Democrats’ “own Donald Trump.”

While receiving only minimal media coverage, he has campaigned actively, and according to the latest Federal Election Commission filing, loaned almost US$ 4 million of his own money to the campaign. He has qualified for 48 primary and caucus ballots, but has not yet obtained any delegates to the 2016 Democratic National Convention. Thus far, according to the count at The Green Papers, De La Fuente has received 35,406 votes, or 0.23% of the total votes cast. He leads among the many lesser-known candidates but trails both Senator Bernie Sanders who has received nearly 6.5 million votes and front-runner Hillary Clinton who has just shy of 9 million votes.

With Wikinews reporter William S. Saturn?, De La Fuente discusses his personal background, his positions on political issues, his current campaign for president, and his political future.

Retrieved from “https://en.wikinews.org/w/index.php?title=Wikinews_interviews_Rocky_De_La_Fuente,_U.S._Democratic_Party_presidential_candidate&oldid=4585942”

Wikinews interviews John Wolfe, Democratic Party presidential challenger to Barack Obama

Sunday, May 20, 2012

U.S. Democratic Party presidential candidate John Wolfe, Jr. of Tennessee took some time to answer a few questions from Wikinews reporter William S. Saturn.

Wolfe, an attorney based out of Chattanooga, announced his intentions last year to challenge President Barack Obama in the Democratic Party presidential primaries. So far, he has appeared on the primary ballots in New Hampshire, Missouri, and Louisiana. In Louisiana, he had his strongest showing, winning 12 percent overall with over 15 percent in some congressional districts, qualifying him for Democratic National Convention delegates. However, because certain paperwork had not been filed, the party stripped Wolfe of the delegates. Wolfe says he will sue the party to receive them.

Wolfe will compete for additional delegates at the May 22 Arkansas primary and the May 29 Texas primary. He is the only challenger to Obama in Arkansas, where a May 10 Hendrix College poll of Democrats shows him with 38 percent support, just short of the 45 percent for Obama. Such an outing would top the margin of Texas prison inmate Keith Russell Judd, who finished 18 percent behind Obama with 41 percent in the West Virginia Democratic primary; the strongest showing yet against the incumbent president. Despite these prospects, the Democratic Party of Arkansas has already announced that if Wolfe wins any delegates in their primary, again, due to paperwork, the delegates will not be awarded. Wolfe will appear on the Texas ballot alongside Obama, activist Bob Ely, and historian Darcy Richardson, who ended his campaign last month.

Wolfe has previously run for U.S. Congress as the Democratic Party’s nominee. On his campaign website, he cites the influence “of the Pentagon, Wall Street, and corporations” on the Obama administration as a reason for his challenge, believing these negatively affect “loyal Americans, taxpayers and small businesses.” Wolfe calls for the usage of anti-trust laws to break up large banks, higher taxes on Wall Street, the creation of an “alternative federal reserve” to assist community banks, and the implementation of a single-payer health care system.

With Wikinews, Wolfe discusses his campaign, the presidency of Barack Obama, corporations, energy, the federal budget, immigration, and the nuclear situation in Iran among other issues.

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