Intermediate Accounting Project Essay Example | Topics and Well Written Essays - 500 words

Intermediate Accounting Project - Essay Example aturity by enterprises reported at amortized cost, trading securities which are debt and equity securities reported at fair value with earnings including the unrealized gains and losses and bought and held primarily for selling, and available-for-sale securities which are debt and equity securities reported at fair value with unrealized gains an losses excluded from earnings serving as a separate component in shareholder’s equity and which are neither classified as held-to-maturity securities or trading securities. The statement was mainly in response to the concerns expressed by the regulators and other financial market players related to the recognition and measurement of investment in debt securities, most specifically the ones held by financial institutions. Despite providing the various standardized procedures related to debt and equity, there were certain issues that came to surface with FAS 115. The fair value measurements application in the financial reporting by all the statements of Financial Accounting Standards differed among the various dozens of pronouncements that necessitated a fair value measurement. As the time passed by, these different financial statements referring to different accounting concepts created various inconsistencies in applying the fair value measurements, thus meaning no standardization provided to the financial market. These inconsistencies and worries of the preparers of the financial statements regarding calculating the fair values in absence of the quoted market prices brought in the Accounting Standards Codification 820 (ASC 820). This coding is an umbrella under which all the various standards are pooled up, thus leading to easy referencing and maintaining of the most up to date records. This coding according to FASB would bring in increased consistency, reliability and comparability to the financial reporting. This coding was required because it simplifies access, improves accuracy of the research, alleviates risk of

Identify and discuss the key factors that influence the logistical Essay

Identify and discuss the key factors that influence the logistical processes at Tate and Lyle - Essay Example Moreover, the group has diversified portfolio business operations throughout the globe, thus making it one of the leading players in renewable food and industrial ingredient industry. The subject of this report is the determination of the key factors that influence the logistical processes at Tate & Lyle Plc. This study is significant because Tate & Lyle has a strong global presence. Moreover, understanding the logistical processes of the group will help not only in clarifying and in addressing the issues encountered by the group in its logistical processes, but it will also provide clearer grounds in apprehending the theoretical and practical application of logistics. As such, the purpose of the report is the identification and discussion of the key factors that affect the logistical processes at Tate & Lyle Plc. In order to achieve this purpose, several academic literatures pertinent to the subject matter have been gathered. The electronic databases EConlit, Academic Source Premier , Business Source Premier, GoogleScholar and Jstor have been searched, and the following key terms have been used Tate & Lyle Plc, logistical processes, logistics, sugarcane industry, globalisation, and supply-chain management in the search. The report is divided into six parts. The first part is the introduction wherein the subject, both the purpose and structure of the report are presented. In the second part, a brief company profile is provided while in the third part pertains to the supply chain in Tate & Lyle. The fourth part of the report deals with the transportation arrangements adopted by the group, while in the fifth section the inventory costs of Tate & Lyle will be discussed. Finally, the last part of the report is the conclusion. Company View: Tate & Lyle Plc Tate & Lyle Plc manufactures a wide range of products. The group’s ingredients are produced from renewable raw materials primarily corn, sugarcane, wheat, and molasses (Datamonitor, 2008; 2010). These raw ma terials are transformed into ethanol, citric acid, sweeteners and starches, and through the help of technology, it becomes a valuable ingredient for food, beverages and other industrial commodities. The end-users of the Tate & Lyle’s products are wide and varied. It ranges from branded food manufacturers, beverages, pharmaceutical products, household products, building products, paper and board to consumer brands and animal feeds (Datamonitor, 2010). Tate & Lyle creates its portfolio of renewable ingredients using three main processes: milling, fermentation and sugar refining. The group's other essential raw material processes include its patented sucralose processing of sugar. Tate & Lyle maintains more than 45 production facilities throughout Europe, the Americas and South East Asia (Datamonitor, 2010, p. 20). The company is considered as one of the leading manufacturers in renewable food and industrial ingredients. It is one of the largest producers of white and raw sugar in the world including leading brands such as Tate & Lyle (UK), and Alcantara (Portugal) (Datamonitor, 2010, p. 21). In the United States, the group is the second largest sugar refining company holding 36% of the market share. Likewise, Tate & Lyle is also second largest company in sugar beet processing in the U.S (Brewster & Boland, 2009). In order to bolster their current position in the global market, Tate & Lyle continues to come up with products and programmes that are responsive to the demands of the