Garantie de satisfaction à 100% Disponible immédiatement après paiement En ligne et en PDF Tu n'es attaché à rien
logo-home
Solution Manual for Advanced Financial Accounting 7th edition by Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay $17.99   Ajouter au panier

Examen

Solution Manual for Advanced Financial Accounting 7th edition by Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay

 45 vues  2 fois vendu
  • Cours
  • SM+TB
  • Établissement
  • SM+TB

Solution Manual for Advanced Financial Accounting 7th edition by Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay

Aperçu 6 sur 657  pages

  • 24 juillet 2023
  • 657
  • 2022/2023
  • Examen
  • Questions et réponses
book image

Titre de l’ouvrage:

Auteur(s):

  • Édition:
  • ISBN:
  • Édition:
  • SM+TB
  • SM+TB
avatar-seller
solutions
83 Copyright © 2014 Pearson Canada Inc . INSTRUCTOR ’S SOLUTIONS MANUAL to accompany Advanced Financial Accounting Seventh Edition Thomas H. Beechy Schulich School of Business, York University V. Umshanker Trivedi Schulich School of Business, York University Kenneth E. MacAulay Gerald Schwartz School of Business and Information Systems, St. Francis Xavier University Toronto Copyright © 20 14 Pearson Canada Inc. All rights reserved. This work is protected by Canadian copyright laws and is provided solely for the use of ins tructors in teaching their courses and assessing student learning. Dissemination or sale of any part of this work (including on the Internet) will destroy the integrity of the work and is not permitted. The copyright holder grants permission to instructors who have adopted Advanced Financial Accounting , Seventh Edition , by Beechy, Trivedi and MacAulay to post this material online only if the use of the website is restricted by access codes to students in the instructor‘s class that is using the textbook and provided the reproduced material bears this copyright notice. Chapter 3 – Business Combinations Copyright © 2014 Pearson Canada Inc . 2 Contents Chapter 1 : Setting the Stage 1 Chapter 2 : Intercorporate Equity Investments: An Introduction 25 Chapt er 3: Business Combinations 83 Chapter 4 : Wholly Owned Subsidiaries: Repor ting Subsequent to Acquisition 139 Chapter 5 : Consolidation of Non -Wholly Owned Subsidiaries 212 Chapter 6 : Subsequent -Year Consolidations: General Approach 290 Chapter 7 : Segment and Interim Reporting 375 Chapter 8 : Foreign Currency Transactions a nd Hedges 389 Chapter 9 : Reporting Foreign Operations 436 Chapter 10 : Financial Reporting for Not -for-Profit Organizations 483 Chapter 11 : Public Sector Financial Reporting 529 CHAPTER 1 Setting the Stage Chapter 3 – Business Combinations Copyright © 2014 Pearson Canada Inc . 3 Chapter 1 is intended to set the stage for the application of accounting standards in differing contexts and the exercise of professional judgement. Throughout this text, the need for professional accountants to apply profess ional judgement in most areas of financial reporting is emphasized, especially in the crucial area of estimates . The choice of accounting policies is highly constrained in most of the subject areas of Advanced Financial Accounting , but applying the mandate d accounting policies still leaves a lot of room for estimates, such as assigning fair values to assets acquired in a business combination. The allocation of the purchase price can have a substantial impact on the reported consolidated financial results. There are three major topics covered in this chapter: (1) the general approach in Canada to accounting standards for the four different types of economic entities; (2) the comparability of financial statements when prepared in different countries; and (3 ) accounting standards for private enterprise. The use of a disclosed basis of accounting (DBA) as an alternative to GAAP -based presentation is also presented. Two additional topics that appeared in the sixth edition of Advanced Financial Accounting have been moved to the Instructor Resource Manual, in case instructors wish to use this material as background material for their own teaching or for providing to the students:  A more detailed explanation of financial reporting objectives, in case students have not already become fully acquainted with using the different (and usually conflicting) users and preparer reporting objectives in approaching accounting judgements.  A desc ription of the background of the IASB and development of international standards, including the formal structure of the IASB and its different bodies. Students will obtain practice in exercising their professional judgement through case analysis. There ar e several cases at the end of each chapter. These cases highlight the existence of alternative accounting policies and raise the question as to what criteria should be used to make a choice. Students need to consider the importance of financial reporting o bjectives in arriving at decisions, as well as the specific facts and constraints presented in the case situation. The extent of will vary from university to university and program to program. For students who lack familiarity with situation -specific Chapter 3 – Business Combinations Copyright © 2014 Pearson Canada Inc . 4 objectives, this chapter will contain new material and may require substantial study. For these students, a thorough coverage of the cases at the end of this chapter is strongly recommended. The Chapter 1 cases should not be assigned all at once, but they pro bably should all be covered over the course of the first few weeks of the course, in order to give the students practice at application. Other students may be quite experienced at case analyses that emphasize financial reporting objectives. For these stude nts, this chapter will constitute a review and an update for the introduction of IFRS in Canada. For case -experienced students, coverage of one or two cases may be sufficient to reinforce prior learning. Most chapters have at least one multi -competency c ase. In this chapter, the multi -competency cases are Case 1 -2, Smith & Stewart, and Case 1 -4, W&K Gardens . These two cases have much different scenarios, as Smith & Smith is a partnership while W&K Gardens is a private enterprise. These multi -competency ca ses have been introduced in response to the multi -
competency evaluation systems that are now being used in the profession. When assigning these cases you will need to decide if you want to assign part of the required only, such as by instructing students to ignore certain issues or some aspects of the case (for example, auditing issues or tax issues). Whether the students are experienced or new to this material, Chapter 1 should not be skipped. It is important material to which reference is made througho ut the text. SUMMARY OF ASSIGNMENT MATERIAL Case 1 -1: Capricorn Carpet Corporation In this case, the company is a publicly -held Canadian corporation that is a newly -acquired subsidiary of an overseas parent. The two types of owners lead to conflicting reporting objectives that must be resolved. The case focuses on the acceptability of parent -directed changes in accounting policies for the Canadian subsidiary. Chapter 3 – Business Combinations Copyright © 2014 Pearson Canada Inc . 5 Case 1 -2: Smith and Stewart This is a multi -competency case that requires students to conside r the appropriateness of using a disclosed basis of accounting (DBA) for a partnership. The case has some unique valuation issues that must be addressed using market values as a DBA. This case includes assurance issues. Case 1 -3: Renaud Development Corpor ation Private companies often have quite specific reporting objectives, objectives that are tied both to the needs of the individual shareholders and to accounting -based measurements that are often specified in the shareholders‘ agreement. This case requir es the student to discern the reporting objectives of a private company, including the use of share book value to set the selling price of shares. A ―dump‖ of standard reporting objectives will not work in this case. Two different lines of business are des cribed in the case, each requiring accounting policy recommendations. Case 1 -4: W&K Gardens This is a multi -competency case that includes business advice, accounting policy advice, and advice on how to structure the new entity. The students must consider the objectives of each of the partners in determining the initial set-up of the new business and other alternatives besides GAAP in determining the appropriate accounting policies. ANSWERS TO REVIEW QUESTIONS Q1-1: Some nations require that new and/or changed standards issued by the IASB be approved by that nation‘s legislators or regulators before they can go into effect in that country. In some places, selected provisions in a standard may be denied acceptance while the rest of the standard may be approved. Even if the new or revised standard is approved in its entirety, its implementation may be delayed to a date following the general date that the standard takes effect. Q1-2: The four general types of organization to which accounting standards apply are (1) publicly -accountable enterprises, (2) private enterprises, (3) not-for-profit organizations, and (4) governments and other public sector entities. The four accounting regimes (or ―threads‖) that apply to each are Chapter 3 – Business Combinations Copyright © 2014 Pearson Canada Inc . 6 (1) the CICA Handbook, Part I , (2) the CICA Handbook, Part II , (3) CICA Handbook, Part III , and (4) the Public Sector Accounting Handbook . Q1-3: Governmental accounting standards are the recommendations issued by the Public Sector Accounting Board, which is a unit of the Canadian Institute of Chartered Accountants. The board does not have the authority to impose its recommendations, but governments often voluntarily choose to follow the PSAB‘s recommendations, particularly the senior governments – the federal, provincial, and territori al governments. Generally, municipalities and other more local governments are governed by provincial statute and/or regulations. Q1-4: Even when an accounting standard prescribes only one accounting policy, judgement still must be applied in determining if the policy is appropriate, and if it is, then measurement estimates still underlie its application. Q1-5: To have quality accounting, a nation must have a strong infrastructure consisting of (1) preparer professionalism, (2) audit quality, and (3) a n effective enforcement mechanism. Without these three ingredients, there can be little confidence in financial reports. The preparers (accountants) must be capable of applying accounting standards in an ethical manner, including a good understanding of pr ofessional judgement. Secondly, the quality of audit staff and audit overview must be strong in order for a user to have confidence in the auditor‘s report. Third, without robust enforcement, there is no penalty for companies that prepare misleading financ ial statements, either through lack of professionalism or with fraudulent intent. Q1-6: Some factors are as follows (two required; others may apply): a. Consolidated statements of Japanese companies will not include all of the reporting enterprise‘s related ―group‖ companies because the companies operate as interlocking entities instead of operating through parent -subsidiary relationships, as in U.S. and G ermany. b. Banks and employees serve on the boards of German companies. A high level of debt is considered a good thing in Germany because it shows that the banks have confidence in the company. A low level of debt is a bad indicator both in Germany (no bank confidence) and in Japan (no interlocking with major banks), but good in the U.S.

Les avantages d'acheter des résumés chez Stuvia:

Qualité garantie par les avis des clients

Qualité garantie par les avis des clients

Les clients de Stuvia ont évalués plus de 700 000 résumés. C'est comme ça que vous savez que vous achetez les meilleurs documents.

L’achat facile et rapide

L’achat facile et rapide

Vous pouvez payer rapidement avec iDeal, carte de crédit ou Stuvia-crédit pour les résumés. Il n'y a pas d'adhésion nécessaire.

Focus sur l’essentiel

Focus sur l’essentiel

Vos camarades écrivent eux-mêmes les notes d’étude, c’est pourquoi les documents sont toujours fiables et à jour. Cela garantit que vous arrivez rapidement au coeur du matériel.

Foire aux questions

Qu'est-ce que j'obtiens en achetant ce document ?

Vous obtenez un PDF, disponible immédiatement après votre achat. Le document acheté est accessible à tout moment, n'importe où et indéfiniment via votre profil.

Garantie de remboursement : comment ça marche ?

Notre garantie de satisfaction garantit que vous trouverez toujours un document d'étude qui vous convient. Vous remplissez un formulaire et notre équipe du service client s'occupe du reste.

Auprès de qui est-ce que j'achète ce résumé ?

Stuvia est une place de marché. Alors, vous n'achetez donc pas ce document chez nous, mais auprès du vendeur solutions. Stuvia facilite les paiements au vendeur.

Est-ce que j'aurai un abonnement?

Non, vous n'achetez ce résumé que pour $17.99. Vous n'êtes lié à rien après votre achat.

Peut-on faire confiance à Stuvia ?

4.6 étoiles sur Google & Trustpilot (+1000 avis)

78998 résumés ont été vendus ces 30 derniers jours

Fondée en 2010, la référence pour acheter des résumés depuis déjà 14 ans

Commencez à vendre!
$17.99  2x  vendu
  • (0)
  Ajouter