EXHIBIT 1 Detected Misstatements That (Over)/Understate ABC Corporation's Retained Earnings
Item Description 12/31/08 12/31/07 A Misstatement of inventory and cost of $12 $10 sales, exclusion of overhead costs B Misstatement of receivables and (14) 16 sales, sales cutoff errors C Misstatement of accrued liabilities (34) 18 and expenses, questionable valuation assumptions D Net (over)/understatement of retained $(36) $44 earnings Calculating the misstatement of ABC's 2008 income under the iron curtain approach is quite straightforward and represents the effects of errors in the end-of-period balance sheet accounts.
The opening balance in the 20X6 statement of retained earnings
should he adjusted by $2,800 to reflect the change in inventory methods.
First, the company invested $1,000,000 of retained earnings
in the LLC (1).
(3) The bank's investment in a financial subsidiary shall not include retained earnings
of the financial subsidiary;
It demonstrates that under the entity theory, consolidated retained earnings
include the separate equities of both the parent company (or controlling) stockholders and the minority interest (or controlling stockholders) of its subsidiaries.
No poll seems to have asked, directly or indirectly, whether respondents favored the double taxation of retained earnings
. Public opinion data therefore do not reveal whether the public favors true single-level taxation or favors double-level taxation of retained earnings
and single-level taxation of dividends.
of pharmaceutical enterprises in 2018 amounted to 19,952,500 soms.
About 16.3 percent of capital base are retained earnings
and 24.7 percent were assigned capital for foreign banks.
A low retained earnings
to total assets means the company may be accumulating losses resulting in falling retained earnings
while a low earnings before tax and interest indicates low return on assets.
The FHLBNY's retained earnings
increased during the quarter by $53.2 million to $1.7 billion as of September 30, 2018, of which $1.1 billion was unrestricted retained earnings
and $0.6 billion was restricted retained earnings
The company mentioned that retained earnings
before the distribution was USD102.3m as of 30 June 2018 and retained earnings
will reach USD97.3m after the distribution.
In response to another question, Mr Zia conceded that the JIT report did not mention quantification of cash flow or retained earnings
of the Hill Metal Establishment (HME) of any financial year.