Npr Reports Q1 2011 Results
CALGARY, June 14, 2011 /CNW/ - Northern Property REIT and NorSerCo Inc. (NPR.UN -TSX) announced its financial results for the 3 months ended March 31, 2011. The Financial Statements and MD&A for the entities are reported on a condensed combined basis at SEDAR.com under Northern Property Real Estate Investment Trust.HIGHLIGHTS:
Same door NOI growth of 8.9% compared to same quarter a year ago
Q1 2011 vacancy loss of 4.9% compared to 7.3% for the same quarter on 2010
Fractional increase in vacancy compared to year end 2010
IFRS bump in property values of $207 million
Acquisition activity robust
FINANCIAL PERFORMANCE AT A GLANCE
(Thousands of dollars except per unit amounts) __ __ __ __ __ __ __ __ __ __ __ Three Months Ended March 31 __ __ __ __ __ __ Three Months Ended March 31
2011 __ __ __ __ __ __ 2010
Total revenue __ __ __ __ __ __ __ __ __ __ __ 36,703 __ __ __ __ __ __ 33,351
Net operating income ("NOI") * __ __ __ __ __ __ __ __ __ __ __ 23,155 __ __ __ __ __ __ 20,496
Net and comprehensive earnings (loss) __ __ __ __ __ __ __ __ __ __ __ 12,000 __ __ __ __ __ __ (63,213)
Net earnings per unit, basic ** __ __ __ __ __ __ __ __ __ __ __ $0.435 __ __ __ __ __ __ ($2.517)
Funds from operations ("FFO") * __ __ __ __ __ __ __ __ __ __ __ 14,682 __ __ __ __ __ __ 12,069
FFO per stapled unit, basic ** __ __ __ __ __ __ __ __ __ __ __ $0.534 __ __ __ __ __ __ $ 0.480
FFO payout ratio __ __ __ __ __ __ __ __ __ __ __ 71.6% __ __ __ __ __ __ 77.1%
"NPR's property portfolio continued to deliver improved financial results in Q1," said Jim Britton, President and CEO. "In spite of enduring a very cold quarter and a small uptick in vacancy compared to 2010 year end, the REIT's financial results moved forward. Overall apartment vacancy loss at 4.9% for the quarter was much lower than the 7.3% we experienced in Q1 2010. A sharp reduction in the cash burn associated with advisory costs for our 2010 SIFT reorganization also contributed to improved financial performance." After experiencing consistent improvements in apartment vacancy throughout 2010, results were mixed in early 2011 with vacancy increasing modestly in northern British Columbia, Newfoundland and Fort McMurray and improving in locations such as Grande Prairie and Yellowknife. Commercial operations, seniors' facility rentals and executive rentals were steady overall.
Historical Cost Accounting - News
The Federal Accounting Standards Advisory Board (FASAB) issued implementation guidance in Statement of Federal Financial Accounting Technical Release (TR) 13, Implementation Guide for Estimating the Historical Cost of General Property,
Basis of measurement These condensed combined financial statements have been prepared on the historical cost basis except for certain investment properties and financial instruments that are measured at fair values, as explained in the accounting
Changes to our expectations concerning future cash flows may lead to impairment write downs of assets carried at historical cost, which may materially affect our results at the group and operating segment levels. If these or other risks and
We believe this would represent a significant change from today's accounting for industries like REITs where real estate investments are often recorded on the balance sheet at historical cost, adjusted for accumulated depreciation or impairment.
The unaudited interim condensed financial statements have been prepared on the historical cost basis, except for financial instruments classified as fair value through profit or loss, which are measured at fair value. These unaudited interim condensed
Essay: Historical Cost Accounting | Essay Xperts
Sample Essay
As the balance sheet is of much importance to investors the representation of fair values instead of the historical cost would be a more useful and transparent representation. The historical cost accounting of assets required reserves to be created to bring the value of the asset more close to the market whereas in fair value accounting the measurement is done in relation to the market which makes it more close to the market values and bridges the gap between the book value and market value of assets.
The decision usefulness of fair value accounting has not improved even after the issue of AASB IAS 139 as the board does not prescribe any analysis for the functioning of fair values in balance sheet and income statements. There is no guideline on the income associated with the fair value measurement. The fair value measurement does provide the economical instability on income but the absence of theoretical implementation techniques decreases the decision usefulness of fair value accounting technique and it would have improved if the standard setting bodies provided extensive guidelines (Hitz 2007).
Our Guarantees 100% satisfaction of our clients is our mission. We are well aware of the evil of plagiarism spreading these days. Our technical core of writers are skilled in almost all forms of writing and do not believe in plagiarism. We guarantee you that the writing we do for you is 101% plagiarism free. We guarantee that your privacy and confidentiality is our greatest priority We guarantee that you will never regret for choosing us we are here to improve field of academics by providing quality and excellence?Historical Cost Accounting - Bookshelf
Introduction to financial accounting
It might be thought that under historical cost accounting the current replacement cost of stock in its current condition and location could be a usefully ...Inflation accounting, an introduction to the debate
3 Historical Cost accounting Historical Cost (HC) is the basis of traditional accounting, or what are sometimes called Generally Accepted Accounting ...Historical cost accounting and its rationality
The accounting sampler
32 A DEFENSE FOR HISTORICAL COST ACCOUNTING Yuji ljiri l. INTRODUCTlON lt is truly remarkable that historical cost accounting has been the principal ...Wiley CPA Exam Review 2011, Financial Accounting and Reporting
Current cost accounting discards historical cost as a reporting model. Preparation of a current cost income statement requires an understanding of certain ...Everyday Note Directory
Historical cost - Wikipedia, the free encyclopedia
In accounting, historical cost is the original monetary value of an economic item.[1] Historical cost is based on the stable measuring unit assumption. ...
Historical cost: Definition from Answers.com
accounting principle requiring that all financial statement items be based on original cost or acquisition cost
What is historical cost? | AccountingCoach.com Q&A
Historical cost is a term used instead of the term cost. Cost and historical cost usually mean the original cost at the time of a transaction. The term
Historical cost
Historical cost accounting is an approach to accounting using asset values based on the actual amount on money paid for assets with no inflation adjustment. ...
Historical Cost and Fair Value Accounting
Illustrated guide to historical cost and fair value accounting.