COA noted that instead of classifying the excess health insurance payments under the Other Deferred Credits
account, COA considered the excess amount as income.
The contract covers the financing of extraordinary expenditures budgeted for fiscal year 2013 (excluding provincial administrative home) and deferred credits
in 2012 (as well as possible budget changes) that may need to be funded 6/30/2014 by rights prints, or an annual amount of approximately 13 million, as and when required, as well as administrative services to afferents.La duration of each loan, depending on the economic life of the property will be 3, 5, 10, 20 and 30 years.
The deferred credits
can be claimed under the following schedule: 50% of the deferred balance in 2013, 75% of the remaining deferred balance in 2014, and the remaining balance in 2015.
Current and Accrued Liabilities $803,138.00 Total Current and Accrued Liabilities $8,366,288.00 DEFERRED CREDITS
"Other liabilities" and deferred credits
were 7.1 percent higher, climbing to $1.1 billion.
5 involves recognizing deferred debits and deferred credits
that do not meet the definitions of assets and liabilities.
"To correct this error, the company will now record construction allowances as deferred credits
, which will be amortized as a reduction of rent expense over the lease term." Prior to the accounting change, earnings per share for the fourth quarter were $1.76 per share, compared with $10.84 per share for the same period last year.