Research the FASB and related positions after 2007. Two new FASB statements (141R and 160) were issued in 2007 and are now incorporated in ASC 805 and 810. You are aware that these two new statements require consolidated financial statements.
Your supervisor is in need of guidance on what constitutes “consolidated financial statements.” Write a short memo to your supervisor explaining the meaning of consolidated financial statements. Specifically, you should include a definition from the FASB’s Master Glossary. Briefly outline the year-end steps to comply with the new FASB statements.
Exposition about Makkah Disclaimer: This work has been presented by an understudy. This isn't a case of the work composed by our expert scholastic journalists. You can see tests of our expert work here. Any assessments, discoveries, ends or proposals communicated in this material are those of the writers and don't really mirror the perspectives of UK Essays. Distributed: Thu, 20 Jul 2017 Mecca is a blessed place of Muslims in Saudi Arabia where it is trusted that the prophet Muhammad lived and showed over 1,300 years prior. Mecca is the holiest city in Islam. Mecca had turned into a critical place in the history when Prophet Mohammed (peace has arrived) was conceived in around 570 AD. Mecca, the sacred place has fallen with yearly back and forth movement of pioneers because of developing Muslim people group in the World and in the long run the spread of Islam. The financial status of the city enormously relies upon the extensive number of pioneers visiting each year and their convenience, bolstering and transportation. (Ahmed Z.U. 1992). Prophet Mohammed (peace has arrived) was conceived in Makkah and was slipped with the Holy Quran, and from that point forward the spread for Islam was propelled. In the core of the city is the Holy Mosque in the focal point of which the Holy Kaaba is found, The Maqam of Prophet Ibrahim, his child Ismaiel's stone (May God favor them), Zamzam well in which water has been pouring from many years, and Safa and Marwah where Muslims make Saie. There are other sacred hallowed places of Mina, Muzdalifa, and Arafat close Makkah. Arafat is situated at the Mount Arafat where pioneers play out the primary custom of Hajj as the day of Arafat. Hajj is planned by the lunar date-book thus moves 11 days sooner every year on the Gregorian logbook. Because of occasional variety after some time, the Hajj happens at various occasions every year (Yamin M. et al 2009). It winds up troublesome in summers as the temperatures in Saudi Arabia are high. Not at all like other Saudi Arabian urban communities, Mecca holds its warm temperature in winter, which can extend from 17 °C at midnight to 25 °C toward the evening. Summer temperatures are viewed as exceptionally sweltering and break the 40 °C stamp toward the evening dropping to 30 °C (86 °F) at night. Rain as a rule falls in Mecca in little sums among November and January. Tourism at Mecca Mecca, the heavenly city in Saudi Arabia is accepted to be the focal point of the Islamic world. The voyage to Mecca as the Hajj is famous to the Muslims everywhere throughout the world yet the Mecca travel is illegal for non-Muslims. There are billions of individuals coming to Mecca for Hajj from everywhere throughout the world. The Hajj in Mecca is the biggest journey on the planet. The Mecca city is Saudi Arabia is progressively called Makkah. It is like the elocution of the Arabic word than does the English interpretation called Mecca. Non-Muslims are not allowed to enter the premises of Mecca, Saudi Arabia whenever of the year because of the way that the Mecca travel and the Hajj are planned for Muslims. It has occurred in the past that few non-Muslims have entered Mecca; its punishments are very unforgiving including expulsion and prison time. Tourism in Mecca includes some arrangement ahead of time. There is an uncommon visa required by each Muslim who wishes to make the journey to Mecca. There is a legitimate visa required to enter the Hajj grounds. If there should be an occurrence of Saudi residents, consent is fundamental. The outside travelers mean to perform Hajj applies for a visa by outfitting data and experiencing some medicinal examination. The visa is conceded by Saudi government by endorsement of the Hajj administration in Saudi Arabia. Every explorer is appointed to a gathering of Hajj administration called Munazzim once their visa is conceded. Munnazim is in charge of their movement and convenience courses of action in the Hejaz (Yamin M. et al 2009). What's more, a letter from the neighborhood mosque expressing that the individual is a Muslim is additionally required. Ladies who are under 45 years old must go with a male or a mahram thought about being the leader of the family. There ought to be a proof of their relationship. Then again, ladies more than 45 years old must convey an authorization letter from her significant other or her dad alongside the confirmation her being a piece of the Mecca tourism gathering. The visa to movement Mecca does not allow to movement outside of Mecca and in the event that anybody needs to movement different urban communities, they should apply for extra visa. The journey to Mecca start at the Jeddah airplane terminal, a vast city in Saudi Arabia. As the tourism in Mecca is exceptionally well known amid the Hajj month, there are two uncommon terminals for the general population landing to Mecca. There are immediate transport administrations from the airplane terminal to Mecca Saudi Arabia. On landing to the city of Mecca, the Muslims need to pursue conventional ceremonies, called Umrah. These conventions ought to be trailed by every one of the pioneers. The ceremonies that are carried on in the occurrences of the Quran are generally difficult to perform or rather perplexing and takes about seven days. It is critical that the explorers must wear the conventional journey attire pursued by a stroll in the district of the Kaaba a counter clockwise way a few times. After this custom, next comes Sa'ey which really implies run whereby the pioneers stroll forward and backward between the slopes of Safa and Marwah, the district where the spouse of Prophet Abraham ran rashly looking for water for her child. It has been composed in Quran that there is a wellspring that shows up between the slopes (Ahmed Z.U. 1992). Different ceremonies amid the Hajj incorporate going to Arafat. This is the where Mohammed gave his last message. The custom is trailed by drinking water from the Zamzam well which is inside the Great Mosque. It is accepted by every one of the Muslims that their God gave water to Hajar and Ismail at this well when they were walking around the desert. These two individuals are the focal figures of Islam. Mecca travel is an important ideal ordeal for every one of the Muslims. Tourism issues There have been numerous tourism issues in Mecca that emerge amid the Hajj time frame. Numerous episodes have occurred amid the previous years causing loss of several lives. It is evaluated that there are 1.4 billion Muslims in the World and every one must visit Mecca for journey in any event once in his or her lifetime in the event that they can. It is the distance hard to oversee a huge number of individuals in Mecca amid the long stretch of Hajj. Group Stampede Rushes are probably going to happen at the Hajj on account of the tremendous group and an unprecedented weight. The people may bumble subsequently hastening a whole charge. Gigantic groups strolling from one place to the next place of the journey, cause a charge. There is a frenzy when the pioneers shake to abstain from being trampled bringing about several passings. For instance, the function of stoning the Devil is extremely swarmed and hazardous thus can result in genuine group mishaps. The accompanying occurrences happened because of enormous swarming at the Hajj. second July, 1990 – Arafat fields of Hajj: A charge inside a walker burrow driving out from Mecca towards Mina, Saudi Arabia and the Plains of Arafat prompted the passings of 1,426 travelers. 23rd May, 1994 – 270 explorers were slaughtered in group amid the stoning of the Devil. ninth April, 1998 – Incident at Jamarat Bridge where 118 pioneers kicked the bucket and 180 were harmed. fifth March, 2001 – During the custom of stoning the Devil, 35 pioneers were trampled to death. eleventh February, 2003 – 14 pioneers kicked the bucket in a surge amid the stoning of the Devil function. first February, 2004 – 251 pioneers were murdered and 244 individuals were harmed in a charge amid the stoning service in Mina. twelfth January, 2006 – 346 pioneers were killed and more than 289 were harmed in Mina on the most recent day of the Hajj while playing out the custom ramy al-jamarät. Ailments Ailment spread is likewise a tourism issue in Mecca. This could be clarified on the way that there are a huge number of individuals from numerous nations visiting Mecca, of which some of them may have weakness frameworks, prompting the spread of scourges. In the event that there is an illness flare-up amid the Hajj, this could aggravate the issue when they returned home and passing the disease on to other people. There have been such occurrences in the past where the malady has spread among the travelers causing extreme medical issues. One such ailment, called meningitis has been given an incited reaction from the Saudi government. There were numerous worries about the illness after its global episode at Hajj in 1987. Because of these worldwide episodes of specific sorts of meningitis in earlier years, it is presently a visa necessity to be inoculated with the ACW135Y antibody before landing. Consistently, the Saudi government distributes a rundown of required immunizations for travelers, which for 2010 additionally incorporates yellow fever, polio, and flu. Injury and other lethal occasions The word Hajj characterizes development. There is a great deal of disorder in transportation amid the Hajj. The journey proceeds onward foot in thick rush hour gridlock for quite a long time at any given moment. Amid the Hajj season in Mecca, there is over the top movement clog. Different issues in tourism are fire episodes that occurred in earlier years. December 1975 – Fire because of blast a gas chamber in a tent brought about the passing of 200 explorers. fifteenth April, 1997 – Fire in a tent in Mina executing 343 explorers and 1,500 harmed. With the end goal to forestall such perilous episodes, the kingdom has supplanted every one of the tents and the tents are currently flame resistant with an assortment of which are comprised of aluminum outlines with fiberglass. The danger of flame is presently viewed as much lower (Memish Z.A. et al 2002). Tourism administration Administration in Mecca amid the Hajj, dealing with a large number of individuals amid a particular month isn't a simple assignment. The authorities of the legislature of the Saudi Arabia ought to have accomplished more to forestall such calamities. It is guaranteed by>GET ANSWER