Due to the mechanics of EITF
00-19, Notify has recorded non cash losses of $457,919 identified as Loss on the Valuation of Warrants in fiscal 2006 as the value of our common stock increased," said Paul DePond, President of Notify Technology.
Complete and up-to-date EITF
guidance can be found on the ASB's Web site at www.
93-9 in EITF
Abstracts illustrates these consensuses' application.
also reached a consensus that the reported tax effect of items not included in income from continuing operations that arose during the current fiscal year and prior to the enactment date should be measured based on the enacted rate at the time the transaction was recognized for financial reporting purposes.
The cumulative effect of a change in accounting principle associated with adopting EITF
00-21 increased by US$23.
reached a consensus that to qualify for reinsurance contract accounting, a contract that reinsures risks arising from short-duration insurance contracts must meet three conditions that relate to qualification as a short-duration contract, risk-transfer issues and the nature of the ultimate premium expected to be paid or received under the contract.
reached a consensus that an environmental liability should be evaluated independently of any potential claim for recovery (a two-event approach) and that the reported loss should be reduced only when a recovery claim is probable of realization.
The Company and its Audit Committee were recently advised that the Company's historical classification of certain freight costs related to granite block sales to customers appeared to be inconsistent with EITF
00-10: "Accounting for Shipping and Handling Fees and Costs" that was issued by the Emerging Issues Task Force of the Financial Accounting Standards Board.
ONEOK will be required by this rule to calculate earnings only for the first month of 2003 under EITF
This month's column lists 1992 and 1993 EITF
consensuses adopted from January 21 through May 20, 1993 (see the sidebar on page 95).
80, which does not consider the impact of EITF
and Subsidiary Companies, Summary Consolidated Statement of Income, Excluding EITF