Response to Client Request II Essay Example | Topics and Well Written Essays - 500 words

Response to Client Request II - Essay Example If the estimated loss is actually composed of a range of amounts, and no amount is a better estimate within this range, the requirement is to accrue the lowest amount and disclose the difference between the highest amount in the range and the amount accrued as this will inform the financial statement reader that more losses may be paid in the future (ASC 450 – 20 – 55 – 18 and ASC 450 – 20 – 55 – 36). Regarding the mortgage of the company, any disclosure or adjustment in the balances will depend upon the results of the company’s negotiation with its mortgage lender. Any gain or loss resulting from the negotiation needs to be recognized in the current period in accordance with ASC 60 – 35. If the company files for a Chapter 11 or if the mortgage is rewritten, rewriting or writing off of the mortgage will still depend on the outcome of such negotiations. As to the intangible asset, namely the patent, if the loss contingency becomes probable, the company will need to record an impairment for the patent, such impairment will be charged to the company’s current income as loss (ASC 350 – 30 – 35 – 11). On the other hand, the hedge (assuming that it does meet the requirements for it to be designated as a hedge under ASC 815 – 20), the net gain related to the patent, which was originally recognized under accumulated other comprehensive income, shall be reclassified and recognized as part of the company’s earnings under ASC 815 – 30 – 35 - 43. Financial Accounting Standards Board. ASC 450 – 20: Loss Contingencies. Retrieved from: http://asc.fasb.org/section&trid=2127173%26analyticsAssetName=subtopic_page_subsection%26nav_type=subtopic_page#topic-450-20-25-subsect-01-108346. Financial Accounting Standards Board. ASC 350 – 30: General Intangibles Other than Goodwill. Retrieved from: http://asc.fasb.org/subtopic&trid=2144471&nav_type=left_

Working conditions in Brooks Brothers Coursework

Working conditions in Brooks Brothers - Coursework Example Individual associates put our employees under a lot of pressure to make the required sales volumes during the period of economic recessions. An employee must make approximately 85% of all the net sales thus living no time for personal development. One has to work for a long number of hours with minimum overtime compensation. This is turning to be a problem because seem not to care about all the well being of the employees.  There is also no room for employees to develop professionally. Once employed in a creation sector of the business, either making the clothes or marketing or sales, a person is likely to stagnate in one position for a long time. Upper management does not offer the employees the required support. It is the dream of any employee in any work station to climb up the ladder in the job market. However, this seems not to be an issue in this organization. The amount of time given for breaks is very little. All we do is work and work the more. The healthcare provided is a lso limited. The employees are so busy such work is available even during holidays and all this work is done while one is standing up. Thus, it is very tiresome and the pay is just okay  Moreover, the management sometimes does not show up on time to open the retail stores. But when one is unable to make the required sales, then it proves to be a problem with the top management. Sometimes that required promotion from within is also very slow. One can be made to do something impromptu something that had not even been planned for.