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Complete Solution Manual for Modern Advanced Accounting In Canada 9th Edition By Hilton Murray, Herauf Darrell | ALL Chapters Complete (VERIFIED)$36.49
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Complete Solution Manual for Modern Advanced Accounting In Canada 9th Edition By Hilton Murray, Herauf Darrell | ALL Chapters Complete (VERIFIED) There are times when external users may want financial reports that do not follow GAAP.
For example, users may need financial statements using non-GAAP...
Complete Solution Manual for Modern Advanced Accounting In Canada 9th Edition By Hilton Murray, Herauf Darrell | ALL Chapters Complete 2024-2025 (VERIFIED) Copyright
Solutions Manual, Chapter 6 1 Complete Solution manual for modern advan Ced aCCounting in Canada 9th edition hilton murray, herauf darrell Chapter 1 Conceptual & Case Analysis Frameworks for Financial Reporting A brief description of the major points covered in each case and problem. CASES Case 1-1 In this case, students are introduced to the difference in accounting for R&D costs between IFRS and ASPE and asked to provide arguments to support the different standards. Case 1-2 (adapted from a case prepared by Peter Secord, Saint Mary’s University) In this real life case, students are asked to discuss the merits of historical costs vs. replacement costs. Actual note disclosure from a company’s financial statements is provided as background material. Case 1-3 (adapted from a case prepared by Peter Secord, Saint Mary’s University) Copyright
2 Modern Advanced Accounting in Canada, Ninth Edition A Canadian company has just acquired a non-controlling interest in a U.S. public company. It must decide whether to use IFRS or U.S. GAAP for the U.S. subsidiary. Financial statement information is provided under IFRS and U.S. GAAP. The reasons for some of the differences in numbers must be explained and an opinion provided as to which method best reflects economic reality. Case 1-4 This case is adapted from a CPA Canada case. A private company is planning to go public. Analysis and recommendations are required for accounting issues related to purchase and installation of new information system, revenue recognition, convertible debentures and doubtful accounts receivable. Case 1-5 This case is adapted from a CPA Canada case. A private company is planning to transition from ASPE to IFRS. Analysis and recommendations are required for accounting issues related to convertible debentures, unusual item, revenue recognition, contingency and impairment. Copyright
Solutions Manual, Chapter 6 3 PROBLEMS Problem 1-1 (40 min.) A single asset is acquired. Students are asked to prepare and compare financial statement numbers during the life of the asset using both a historical cost and a current value model. Problem 1-2 (40 min.) Details of a European company that reports using IFRS are given along with specific details relating to certain account balances. Students are asked to show how these balances should be reported under 1) ASPE and 2) IFRS using the facts provided. Students are also asked to reconcile Net Income and Shareholders` Equity from IFRS to ASPE. Problem 1-3 (50 min.) A private company plans to convert to IFRS go public within 5 years. It wants to know the impact on net income and shareholders’ equity if it converts from ASPE to IFRS for impaired loans, interest costs, actuarial gains, compound financial instrument and income taxes. Problem 1-4 (50 min.) While taking the role of a financial analyst, the student uses vertical and horizontal analysis and ratios to analyse and interpret the profitability, solvency and liquidity of a private company. Problem 1-5 (25 min.) A private company plans to convert to IFRS. It wants to know the impact on three key ratios if it converts from ASPE to IFRS for impaired loans, capitalization of interest and actuarial gains/losses. Problem 1-6 (50 min.) A private company plans to convert from ASPE to IFRS and wants to know the impact on three key ratios if it converts from ASPE to IFRS for impairment losses, convertible bonds and income taxes.
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