RSM220H1 Chapter Notes -Ontario Securities Commission, Accounts Payable, Gross Profit
Document Summary
Danier leather inc: disclosure requirements and litigation accounting 1. According to environment canada, it was so hot that such a year can be expected only once about every 2,500 years. Between december 1997 and november 1998, average temperatures were about 2. 5 degrees higher than normal, and record high temperatures were set in almost every month of the year. In fact, july was the warmest month in canada ever! It was a also a record-setting year for danier leather inc. In 1998, the company recorded record revenues and profits. The company had been in the retail business since 1974 and had evolved into one of the leading integrated designer-manufacturer-retailers of fashion leather clothing and accessories. The company also completed an initial public offering (ipo) raising million and making a landmark transition to a publicly traded company. However, the ipo also brought along a major class action lawsuit that would take 10 years and the supreme court of canada to resolve.
