Couple last minute questions

First, please forgive me if these have already been answered. 1 What accounts must be included in GIPS composites. Fee paying discretionary accounts must, but what about non-fee paying discretionary accounts and fee paying/non fee paying non discretionary accounts? 2 Asset Retirement obligations- Please somebody explain the balance sheet implications of this. I know the PV of the ARO will go under liabilities. How is the assets account modified though, and or any other relevant accounts? Thanks and good luck

  1. composites include discretionary fee paying account, total firm assets include discretionary, non discretionary, fee paying and non feeing… 2) gunna have to let someone else take that on however belive aro value shows up under assets as well and is depreciated

Asset Turnover, ROA and Interest Coverage- Decrease Debt/Eqt Increases

Balance Sheet: Asset to be retired is created. Fair value of ARO liab at mkt price is recognised or PV of cashflows req’d to retire liability Income Statement: Depreciation and interest costs of ARO cause EBIT and Net Income to fall