What Disclosure is Required in Financial Statements?

Januari 25, 2023Oktober 23, 2023

Still, White House officials bristled about whether Biden would ask Netanyahu and Israel officials to show restraint or set any conditions on any new U.S. military aid that could be in the pipeline. In Washington, Biden was briefed in the Oval Office by his national security team on the situation on the ground in Israel and Gaza. White House chief of staff Jeff Zients joined the briefing led by national security adviser Jake Sullivan, Director of National Intelligence Avril Haines and Central Intelligence Agency Director Bill Burns, according to the White House. Biden spoke by value billing phone with Egypt’s el-Sissi, Iraqi Prime Minister Mohammed Shia al-Sudani and German Chancellor Olaf Scholz about the fallout from Hamas’ surprise attacks on Israel that left 1,400 dead and retaliatory strikes that have killed at least 2,778 Palestinians. But Biden’s presence could be seen as a provocative move by Hamas’ chief sponsor, Iran, or potentially viewed as tone-deaf by Arab nations as civilian casualties mount in Gaza. Blinken has already been traveling around the Mideast this past week trying to prevent the war with Hamas from igniting a broader regional conflict.

Administration is a temporary state for a company to be in rather than a long-term solution; once a company enters administration it is safeguarded from legal action while an exit out of administration is sought. Depending on the financial position of the company and its likely potential for future success, this may well involve a sale out of administration which would allow trade to continue and jobs to be saved. This is widely seen as the preferred route for shareholders and stakeholders alike. Alternatively, there is the option to close the company if unlikely to recover from financial difficulty. “It’s not a recession in the traditional sense of what we saw during the pandemic or financial crisis. This is a much softer recession for a lot of what the gaming industry is well prepared for.

White House officials have said that U.S. intelligence shows that Iran has been broadly aware that Hamas had been preparing for a possible strike against Israel. But the U.S. says it has yet to uncover evidence of direct Iranian involvement in the Oct. 7 attack. Biden is looking to send the strongest message yet that the U.S. is behind Israel. His Democratic administration has pledged military support, sending U.S. carriers and aid to the region. Officials have said they would ask Congress for upward of $2 billion in additional aid for both Israel and Ukraine, which is fighting Russia’s invasion. TEL AVIV, Israel (AP) — President Joe Biden will travel to Israel on Wednesday to show support for the U.S. ally as concerns increase that the raging Israel-Hamas war could expand into a larger regional conflict.

Without fuel, residents cannot operate trucks needed to transport water or pump it.
In a call Friday morning, Biden and Israeli Prime Minister Benjamin Netanyahu discussed plans to get humanitarian aid into Gaza through Egypt.
Pervasive lockdowns have substantially affected overall economic activity, resulting in many businesses experiencing reduced revenues and profitability, and liquidity squeezes, which may raise questions about their ability to continue as a going concern.
Alternatively, there is the option to close the company if unlikely to recover from financial difficulty.
Listing the value of long-term assets may indicate a company plans to sell these assets.

Israeli air strikes and evacuation orders have displaced an estimated 600,000 people to the southern half of Gaza, with almost 400,000 of them crowding into UNRWA emergency shelters. These numbers have likely increased significantly since the October 14 count, according to UNRWA, and are likely to create breeding grounds for disease. Residents in Gaza have also noted that this would not have actual impact since water pipes have been destroyed by Israeli air strikes and residents traditionally need to fill up tanks to access water. Without fuel, residents cannot operate trucks needed to transport water or pump it. When people do find water, it is primarily through private vendors who are operating small desalination and water purification plants, mainly on solar energy. Flights carrying 20 metric tons of @WFP high-energy biscuits are landing in Al-Arish airport near the #Rafah border in #Egypt to address the pressing food shortages in #Gaza.

The announcements came after Biden consulted with a trio of world leaders and his own national security team on Monday amid growing global concern about the humanitarian crisis unfolding in the Gaza Strip and fears that the Israel-Hamas war could metastasize into a broader regional conflict. Accountants use going concern principles to decide what types of reporting should appear on financial statements. Companies that are a going concern may defer reporting long-term assets at current value or liquidating value, but rather at cost. A company remains a going concern when the sale of assets does not impair its ability to continue operation, such as the closure of a small branch office that reassigns the employees to other departments within the company. The COVID-19 pandemic has resulted in a stressed economic environment on an unpredecented scale in recent history.

Biden administration requests billions from Congress for aid to Israel, Ukraine

The agency said the Western state’s hypocrisy is “flagrant and obvious,” and they risk undermining years of humanitarian efforts to standardize norms that protect civilians during times of conflict. Israel responded by hitting Gaza with a series of airstrikes that the Hamas-run Palestinian Health Ministry says has killed 2,800 people. Israel also has been setting the stage for a ground invasion that could begin any day. Fears are rising that other countries and groups could get pulled into the conflict, causing it to engulf the Middle East. Gaza’s 2.3 million Palestinians, half of whom have fled their homes ahead of an expected ground invasion aimed at routing out Hamas, are rationing food and drinking dirty water.

One senior U.S. official said there was little information about the whereabouts of the hostages.
If a business is not a going concern, it means it’s gone bankrupt and its assets were liquidated.
As with many of the global risks featured in this year’s report, the impact of these events disproportionately affects low- and middle-income countries.
When assessing the market value of their business, owners establish what the business is worth based on similar businesses that have recently been sold.
Israel will have technical advantages in a ground incursion, including drones, though that advantage will be reduced to some degree as it enters enemy territory, Bowman said.
New lenders will likely be reluctant to issue new credit, or any new credit issued will be prohibitively expensive.

“Its fighters will form small hunter-killer teams that move underground, pop up, strike, and pop quickly back into a tunnel,” Spencer wrote in a piece published Tuesday. Kirby said the U.S. has not seen any signs that Iran might try to get directly involved in the Israel-Hamas conflict. Kirby declined to comment on el-Sissi’s concerns about how Israel is conducting the war. Blinken made the announcement early Tuesday after more than seven hours of talks with Israeli Prime Minister Benjamin Netanyahu and other top Israeli officials. Sen. Marshall issued a letter to Treasury Secretary Janet Yellen on Oct. 19 about interested parties attempting to make a “going concern” bid before the U.S. Justice Department to extend the maturity date of loans that Yellow obtained under the CARES Act — a move that would secure financing for the bid and help retain thousands of trucking jobs that may otherwise remain lost in the wake of Yellow’s collapse.

UN: ‘Restrictions’ preventing humanitarian aid into Gaza at Egypt border

China’s annual nominal growth, which includes inflation, was 3.5% in the third quarter, lower than the real, inflation-adjusted figure. This suggests that prices of goods and services fell by almost 1.4%, the second drop in a row (see chart 1), which makes the current period China’s worst deflationary spell since 2009. Urban unemployment fell to 5% in September from 5.2% in the previous month and the average workweek lengthened. Chinese policymakers have instructed banks to cut the interest rate on outstanding mortgages in line with the lower rates available for new ones.

Pervasive lockdowns have substantially affected overall economic activity, resulting in many businesses experiencing reduced revenues and profitability, and liquidity squeezes, which may raise questions about their ability to continue as a going concern. Given the current environment, a greater degree of judgement than usual may be required to determine whether it is appropriate to prepare financial statements on a going concern basis. Although global supply chains have partly adapted, with pressures significantly lower than the peak experienced in April last year,3 price shocks to core necessities have significantly outpaced general inflation over this time (Figure 1.4).

What does it mean when a company is bought out of administration?

Accountants may also employ going concern principles to determine how a company should proceed with any sales of assets, reduction of expenses, or shifts to other products. These issues could be low profit margins, reduction of customer base, or high outgoings such as costly long-term leases on large premises which is often cited as a major problem for bricks and mortar retail businesses. If the company is deemed to be salvageable, then the appointed insolvency practitioner acting as administrator will actively try to sell the company as a going concern, and market the business for sale accordingly. Offers will be listened to and it is the administrator’s job to accept the offer which best satisfies the company’s creditors.

Our global “new normal” is a return to basics – food, energy, security – problems our globalized world was thought to be on a trajectory to solve. These risks are being amplified by the persistent health and economic overhang of a global pandemic; a war in Europe and sanctions that impact a globally integrated economy; and an escalating technological arms race underpinned by industrial competition and enhanced state intervention. As with many of the global risks featured in this year’s report, the impact of these events disproportionately affects low- and middle-income countries. It registered as a top-five risk in 25 countries surveyed by the EOS, in particular in developing coastal states across Latin America, Africa and South-East Asia.

Species Delisted from the Endangered Species Act due to Extinction

Uri said he has spoken to Judith since her release and believes she will be home soon. High Commissioner for Human Rights Ravina Shamdasani on Friday said 14 Palestinians were reportedly killed in a drone strike on Thursday. ∎ The Israel Defense Forces said Friday more than 1,400 people have died and 4,600 others are injured.

Facing Risky Options for Gaza Hostages, U.S. Turns to Longtime Mediator

On Tuesday, the State Department raised its travel warning for Lebanon to “do not travel” because of rocket, missile and artillery exchanges between Israel and the Iranian-backed militant group Hezbollah. The State Department most recently issued a worldwide caution alert in August 2022 following the death of al-Qaeda’s No. 2 leader Ayman al-Zawahiri out of caution for potential “anti-American violence,” according to an archived release. The State Department on Thursday issued a rare “worldwide caution” advisory to all Americans overseas, urging them to “exercise increased caution due to the potential for violence and increased tensions” globally.

An alert was issued in 2016 when the agency cautioned travel into Burkina Faso and the surrounding Sahel region in Africa following an attack at a hotel in Ouagadougou that killed 30 people, including one U.S. citizen. “Emergency, trauma and surgical supplies are rapidly running out at hospitals and health partners’ warehouses, with the entry of humanitarian supplies still not possible,” MAP’s advocacy and campaigns manager in the West Bank, Aseel Baidoun, told Al Jazeera. White House officials said Biden’s talks with Arab leaders in Amman will largely focus on humanitarian concerns for Gaza’s 2.3 million people. He’ll also make clear that Hamas does not stand for the Palestinian people’s right to dignity and self-determination. The valuation process tells the owner what the current worth of their business is by analyzing all aspects of the business, including the company’s management, capital structure, future earnings and the market value of its assets.

MORE: Israel-Hamas conflict: Timeline and key developments

Suffering from a Gaza-wide power outage, hospitals are running on external generators – a backup that is ticking towards its last few hours, according to the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA). The United Kingdom-based Medical Aid for Palestinians (MAP) group says hospitals in Gaza are facing a “catastrophic” shortage of medical supplies, amid Israel’s “total blockade”. Israel has ordered 1.1 million people to move from the north to the south, causing panic and misery to tens of thousands in a territory that has been facing economic stagnation due to 16 years of Israeli blockades. “That’s going to make any Israeli ground incursion more difficult because Hamas is probably prepared for this scenario,” he said. Hamas — which has “home-court advantage” — has also likely prepared for a major Israeli ground incursion “long before Oct. 7,” Bowman said. Israel is also preparing for the potential of a new front opening on its northern border with Lebanon, where it has exchanged fire repeatedly with the Iranian-backed Hezbollah group.

Certain red flags may appear on financial statements of publicly traded companies that may indicate a business will not be a going concern in the future. Listing of long-term assets normally does not appear in a company’s quarterly statements or as a line item on balance sheets. Listing the value of long-term assets may indicate a company plans to sell these assets. Accounting standards try to determine what a company should disclose on its financial statements if there are doubts about its ability to continue as a going concern.

I want to make sure when that R-word comes out that it’s not a sense of panic and that everyone is pretty well prepared for the next 12 to 18 months,” Mercado said. Raf Mercado, a vice president in the investment-banking division at Goldman Sachs, said margins are healthy for a lot of companies and believes that it doesn’t matter whether it’s called a recession, because nothing will be deep. The hospital will change to a graveyard,” Mohamed Kandil, director of the emergency department at Nasser Hospital, told Al Jazeera.