In the Days of Wood and Coal Engines,having a Fireman

question 57

Essay

In the days of wood and coal engines,having a fireman on board a train was a reasonable requirement.However,as diesel and electric engines came into use,firemen were not required on trains anymore.Despite this,railroad companies were often required by the union contract to continue to employ firemen.What term refers to this kind of unfair labor practice?

Understand the components of the statement of cash flows, including cash flows from operating, investing, and financing activities.

Differentiate between the direct and indirect methods of reporting cash flows from operating activities.

Identify and classify cash inflows and outflows accurately within the appropriate sections of the statement of cash flows.

Understand the treatment of noncash investing and financing transactions on the statement of cash flows.

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Definitions:

Parent-Company Extension Method

An accounting method where the financial statements of the parent company include its investments in subsidiaries without consolidating their individual financial statements.

IFRS 3

An International Financial Reporting Standard that outlines the accounting requirements for business combinations.

Entity Method

A consolidation method wherein investments in subsidiaries are reported at cost and income from the investment is recognized to the extent of dividends received.

Subsidiary

A company that is controlled by another company, typically through ownership of more than half of its voting stock.