Search results
Results From The WOW.Com Content Network
Q2, or the second quarter, refers to the accounting period of April, May and June. Any financial statements you receive from April 1 to June 30 are for Q2 of the fiscal quarter system.
Repo 105 made use of an accounting rule where, if the assets sold were valued at more than 105% of cash received, the transaction could be called a true sale and the assets removed from Lehman's books. $50 billion of assets were removed from the balance sheet in this way, improving their net leverage ratio from 13.9 to 12.1 at the time.
The explanation that links the two subjects is that asset values deviate from their fundamental market prices, which causes a bank to write down its assets and, in turn, deplete its capital. Consequently, the asset write-downs may force the bank to sell such assets at fire sale prices and start a downward spiral.
First quarter of 2009: For the first quarter of 2009, the annualized rate of decline in GDP was 14.4% in Germany, 15.2% in Japan, 7.4% in the UK, 18% in Latvia, [184] 9.8% in the Euro area and 21.5% for Mexico. [29] April 2, 2009: Unrest over economic policy and bonuses paid to bankers resulted in the 2009 G20 London summit protests.
Same-store sales at Justice were down 5% and operating income declined 47% amid soft traffic and inventory markdowns. This was the only dark spot on an otherwise strong quarter for Ascena.
The early 2000s recession was a major decline in economic activity which mainly occurred in developed countries. The recession affected the European Union during 2000 and 2001 and the United States from March to November 2001. [ 1 ]
The company’s former accounting firm, Ernst & Young, resigned in the middle of an audit and announced that it couldn’t rely on the management team or the board’s independent audit committee.
For government accounting and budget purposes, pre-Federation colonies changed the financial year from the calendar year to a year ending 30 June on the following dates: Victoria changed in 1870, South Australia in 1874, Queensland in 1875, Western Australia in 1892, New South Wales in 1895 and Tasmania in 1904.