Next, the students addressed issues related to (1) uncertainties whether deferred tax assets will be realized and whether valuation accounts
may be needed and (2) uncertainties whether tax positions will be sustained upon audit, which may require the accrual of additional tax liabilities.
The non-GAAP financial measures included in this press release exclude the benefit from the reversal of an energy derivative valuation account
and charges associated with the Company's gross margin initiatives.
The task force further noted the deferred profit in the transaction illustrated in exhibit 1 wouldn't be considered a valuation account
under Statement no.
Accounting rules have required that we maintain the energy derivative valuation account
on our books until now," said Brad Holiday, Senior Executive Vice President and Chief Financial Officer.
43 million reversal of deferred tax asset valuation account
, or adjusted earnings of $0.
Financial ratios remained strong with Return on Equity at 40%, which excludes the impact of a one-time deferred tax asset valuation account
reversal at year-end 1999, and Fixed Asset Turns at 6.
0 million were classified as available for sale and a valuation account
was established totaling $3.
Earnings for the trailing fourth quarter of 1995, after factoring out a one-time positive adjustment to earnings reflecting a $1,115,000 valuation account
adjustment, were $1,636,000 or $0.
In reality, the bank's total shareholders' equity position has recently been enhanced by the trend toward lower market interest rates, which has increased the value of the available for sale (AFS) investment securities and reduced the required equity valuation account
The binomial approach to option valuation accounts
for the likelihood that changes in a stock's price will influence the timing of when employees would exercise options by factoring an array of possibilities.
To identify and mitigate these risks, the turnaround team should first evaluate the adequacy of all valuation accounts
Are there other specific loss accrual or valuation accounts
that should be added to the list of accounts identified within proposed Item 302(c)?
In Item 302 (c), the SEC proposes to list commonly reported loss accrual and/or valuation accounts
that the Commission would expect a registrant to present within that Item.
Among other requirements exceeding those under GAAP, regulation S-X requires supplemental financial statement schedules that provide details on investments, valuation accounts
, short-term borrowings, property and depreciation schedules.
Net income in the fourth quarter and full year of 2004 includes a positive tax benefit resulting from reductions in the Company's tax valuation accounts