deuts

Site Announcement

deuts — Wed, 05 Jul 2006 12:47:46 +0000

I've transferred my website to deuts.net. This I've done in order to maintain a domain of my own. It is hosted in ploghost. Go check it out. Every new entry will now be posted at that site.

San Miguel to change auditor

deuts — Wed, 17 May 2006 18:47:51 +0000

That is the news, ok. According to money.inq7.net, the San Miguel group changed auditors from SGV & Co. to Laya Mananghaya & Co. Starting 2006, Laya Mananghaya (KPMG) will be auditing SMC. SGV was the appointed auditor since 1997.

Inq7 offered to report the following reasons for the change in auditor:

Technologically Yours

deuts — Sat, 13 May 2006 20:56:56 +0000

I received these pictures from an email a while ago. I'm not really sure if this is true. Yet, I do think it's cool.

At first look, this seems like a set of pens.

Or maybe pens with hidden cameras....but look very closely....

The Da Vinci Code - The Sensation Continues

deuts — Tue, 09 May 2006 18:08:00 +0000

Inq7 reports today that Lipa Archbishop Ramon Arguelles has urged Philippine film censors to ban in local theaters the Hollywood film "The Da Vinci Code," dismissing it as blasphemous.

My question is, did they make the same move to ban the distribution in the country of the very source of the movie, i.e., the book itself?

Technology in My Hands

deuts — Fri, 05 May 2006 10:04:00 +0000

January 28, 2006 - I bought a Nokia 6230i at Novacell Telecom Corp. in Robinson's Place in Malate, as a replacement for my old Nokia 5210. The phone cost P16,000 cash.

Just two days ago, May 3, 2006, I checked for the same phone at KingCom in Makati Cinema Square and guess what, they were already selling it at only P13,138. Just couldn't believe my eyes when I saw the price, I asked around the stalls selling those phones for even cheaper prices (with warranty periods ranging from none to only one month, of course, you know what I mean), and they were selling it for as low as P11,800.

About Wesley So

deuts — Wed, 03 May 2006 14:08:00 +0000

An article in The Manila Times states that he once appeared in a TV commercial for a popular brand as a "gifted child," (Promil Kid, I suppose). And now, Wesley So has proved his genius by becoming the youngest member of the national men's team to the 37th Chess Olympiad from May 19 to June 5, 2006 in Turin, Italy. So is currently a FIDE master at an age of 12 years. The Chess Olympiad is a six-man team representing each country against other countries.

In a Kibitzer's corner in one of So's games in chessgames.com, the young So conducted a 20-board Simul play in Meralco last March 13, 2006. The 12-year-old wiz kid scored 19.5 in 20 games against 20 opponents whose accumulated age could be over 500 years.

Firing Lane

deuts — Sat, 29 Apr 2006 15:29:00 +0000

I had this opportunity to shoot in Firing Lane in SM Manila last Sunday (April 23, 2006). It was my first time to shoot in this game. For a fee of P30 I was provided with 8 bullets to shoot at the target. I highlighted my shots in this image.

Yahoo! Mail Problems

deuts — Thu, 20 Apr 2006 03:00:00 +0000

Eversince this "Photomail" feature was added into yahoo, I could not successfully send emails with file attachments using yahoomail. It always return the message, "There was a problem: We encountered an internal error. Please try again in a few minutes. I wonder if this fact is common to everyone. Have you already installed this so called Photomail?

Consolidation of Indirect Subsidiaries

deuts — Sat, 15 Apr 2006 08:48:00 +0000

Let's take for example a Parent Company owning 100% interest in Company A, which in turn owns 100% interest in Company B. Here, clearly the Parent Company owns indirectly through Subsidiary A 100% of Company B. Hence, clearly the Parent Company should incorporate the operations of Company B in its consolidated financial statements.

Now, let's take another example. Say, the Parent Company owns 70% interest in Company C, which in turn owns 80% interest in Company D. In this example, the Parent Company owns indirectly through Subsidiary C 56% of Company D (80% x 70%). Again, clearly the Parent Company should include Company D in its consolidated financial statements because it owns more than half of the latter.

Separate Financial Statements - Investment Carried at Cost

deuts — Fri, 07 Apr 2006 04:42:00 +0000

There are actually two issues here:

1. An argument that the Board merely discouraged the availment of the exception under paragraph 10 of IAS 27 to present consolidated financial statements. The availment should only be made in very rare circumstances, wherein it would ease up the burden of certain companies mandated by their respective applicable law to prepare separate financial statements in addition to the consolidated financial statements.

2. The fact that you append the parent financial statements to the consolidated financial statements does not constitute the parent figures to be that of a separate financial statements.

In the Basis of Conclusion (BC) No.29, the Members of the Board of the IASB considered the following: