Inancial report issue(Accounting): issue analysis papaers(IAP)

<<2005 Media Releases METHANEX KITIMAT TO PROVIDE TERMINALLING SERVICES TO ENCANA September 20, 2005 Methanex Corporation has entered into an agreement to provide terminalling services to EnCana at Methanex s Kitimat, British Columbia site. EnCana advises that it plans to import diluent through this terminal for use in its oilsands projects in Alberta. In addition, the agreement provides EnCana the option to buy from Methanex, and Methanex the option to sell to EnCana, the Kitimat site (excluding the methanol and ammonia facilities), within the five-year term of the agreement. Methanex recently announced its plan to shut down its Kitimat production facilities in early January 2006.  This is a win-win for Methanex and EnCana said Bruce Aitken, President and CEO of Methanex.  It will enable us, over time, to offset some of the Kitimat shutdown costs and will provide EnCana with a convenient terminalling facility on the west coast of Canada. Aitken continued,  An important feature of the agreement is our right to use the Kitimat terminal facilities to import methanol from our other production facilities through Kitimat. This will allow us to continue to provide a secure, long term supply of methanol to our customers in the Pacific Northwest. The agreement is subject to certain conditions precedent. Methanex expects to commence terminalling services for EnCana in early 2006. Methanex is a Vancouver based, publicly-traded company engaged in the worldwide production and marketing of methanol. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol  MX and on the Nasdaq National Market in the United States under the trading symbol  MEOH. You should identify the main event in text and follow the following steps in the analysis: 1.Describe the event in one paragraph. 2.Analyze how the company should account for the event by referring to one or more of the following types of issues: a.Recognition  should the company account for the event in the financial statement. If so, where? In the statements or the notes? b.Measurement  how should the company measure the event/transaction? c.Presentation/Disclosure  how should the company classify the  event on the financial statements and why. How much detail should be presented in the financial statements? 3.The analysis should be based on the CICA Handbook. For any of the above you should refer to the appropriate section/key words/criteria/definitions in context of your discussion. 4.Suggest an alternative treatment to (2) above with proper analysis/support. For example, certain events, such as contingencies, may be reported either in the financial statements or in the notes to the financial statements depending on the circumstances. 5.Conclusion as to how the transaction/event should be accounted for. You should do IAP based on that above article. And you must follow IAP format exactly same way. The format is pg.5 on the case and IAP format file which ill upload on the board. I ordered other IAP last week, however the writer didnt follow the format. Could you please do IAP exactly same way? and it also should be based on above article:METHANEX KITIMAT TO PROVIDE TERMINALLING SERVICES TO ENCANA . Thank you for your help. Ill attach that article and format again after i get the order number. And ill also upload the sample IAP article and solution.

Inancial report issue(Accounting): issue analysis papaers(IAP)

The instruction is:

Issue Analysis Papers (IAP)

The IAP s are usually a newspaper article describing an event related to a company. You should identify the main event in text and follow the following steps in the analysis:
1. Describe the event in one paragraph.
2. Analyze how the company should account for the event by referring to one or more of the following types of issues:
a.Recognition  should the company account for the event in the financial statement. If so, where? In the statements or the notes?
b.Measurement  how should the company measure the event/transaction?
c.Presentation/Disclosure  how should the company classify the  event on the financial statements and why. How much detail should be presented in the financial statements?

3. The analysis should be based on the CICA Handbook. For any of the above you should refer to the appropriate section/key words/criteria/definitions in context of your discussion.
4. Suggest an alternative treatment to (2) above with proper analysis/support. For example, certain events, such as contingencies, may be reported either in the financial statements or in the notes to the financial statements depending on the circumstances.
5. Conclusion as to how the transaction/event should be accounted for.

Ill attach the file right after i get the order number.