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I beg someone to help me with these questions, and each question is at least 100 words. Thank you so much. Adopt the role of
I beg someone to help me with these questions, and each question is at least 100 words.
Thank you so much.
Adopt the role of the company's accountant and analyze the financial reporting issues. CA9.2 Finance Cando Communications (CC) is a public company that owns and operates 10 broadcast television stations and several specialty cable channels, 10 newspapers (including the International Post), and many other non-daily publications. It has a 57.6% economic interest in Australia TV (in Australia), and a 29.9% interest in Ulster TV (in Northern Ireland). According to the notes to the annual financial statements, the company owns approximately 15% of the shares and all of the convertible and subordinated debentures of Australia TV. The convertible debentures are convertible into shares that would represent 50% of the company's total issued shares at the time of conversion. In total, including the debentures, the investment in Australia TV yields a distribution that is equivalent to 57.5% of all distributions paid by Australia TV.CC has a contractual right to be represented on the board of directors and has appointed three of the board's 12 members. Although the company has made an attempt to influence the decisions made by Ulster TV management, it has been unsuccessful and does not have any representation on the board of directors. Investments represent approximately $150 million (about 5% of total assets). Even though revenues were up by 15%, net income was only $8 million for the year, down from $50 million the prior year. QUESTION 1 Describe the environment in which Cando Communications (CC) operates. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I us Paragraph Arial 10pt NM A x X2 MIT ABC - * H {} 8 P QUESTION 2 List four situational factors that you consider important for your analysis. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial 10pt > : 111 { A ABC | +] x X2 MIT {i} {: X 4) QUESTION 3 What are the two major issues (name them Issue 1 and Issue 2) that you should address from a financial reporting perspective? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I us Paragraph Arial 10pt ||| A x X The | TT +] X HE {:} P QUESTION 6 Which alternative do you recommend for Issue 1? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I US Paragraph Arial V V 10pt ini III == X X T - L+ RBS V QUESTION 7 What are the alternative accounting policies available for Issue 2? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I y S Paragraph Arial 10pt > x X2 The RE H EX E {;} O SA + P QUESTION 8 Analyze the alternatives available for Issue 2. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIu s Paragraph Arial 10pt > ==== ( A xX2 RE E {}} O ? QUESTION 9 Which alternative do you recommend for Issue 2? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I y s Paragraph Arial > 10pt > | (:) K7 K A P QUESTION 10 Can you think of any reason why net income has declined despite an increase in revenues? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I U Paragraph 10pt X2 X2 > Arial > [+ iii ABC - R7 E ;} Ky QUESTION 11 Can you think of any reason why Cando has been unnsuccessful in influencing the policies of Ulster TV despite owning 30% of its shares? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I U S Paragraph Arial 10pt A IX V !!! iii V 2011 X2 X2 & I. - +] r T "2 6 1. H H EX: E (i) Ra KN PStep by Step Solution
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