each other, exchanging one set of assets for another. When a grouping of assets, and/or liabilities, constitutes a business, the accounting for the exchange transaction is determined by IFRS 3 Business Combinations. IFRS 3 requires the application of the acquistion method under which the accountant must be able to identify which of the entities involved in the combination is the acquirer, determine the cost of the combination, and allocate this cost to the assets and liabilities acquired. The latter
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A2 Auto Corporation Date: March 31, 2010 Prepared by: Joe Expert Senior Reviewed by: Manager XWZ CPA Adam Smith ISSUE: Grouping of long-lived assets to be held and used for impairment testing purposes. BRIEF BACKGROUND OF HISTORY A2 Auto Corporation (“A2 Auto”) is one of the world’s largest manufacturers and distributors of automobiles and automobile ancillary parts. In its Form 10-K, filed with the U.S. Securities and Exchange Commission (“SEC”), A2 Auto has disclosed within Note
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evaluation assets are measured at cost. Models of measurement after recognition are cost and revaluation model. Cost model carrying amount = cost - accumulated depreciation - accumulated impairment losses. Revaluation model carrying amount = revalued amount. Revalued amount = fair value at the date of revaluation- subsequent accumulated depreciation- subsequent accumulated impairment losses. Exploration and evaluation assets classified as tangible or intangible reflecting the nature of assets.
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Varying Perspectives on Brand Equity By Jonathan Knowles 20 ❘ MM July/August 2008 Yo u s a y t o m a y t o a n d I s a y t o m a h t o . I started business life in finance (at the Bank of England in London), and in those early days I did not give brands a second thought. My life was dominated by financial facts and figures. And for the first 10 years of my career, I believed that these metrics were essentially all that were needed to manage and run a successful business. This view
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|ASSIGNMENT COVER PAGE | | | | |SURNAME: STEMMET |INITIALS: P | | |
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accounting. Prerequisite: AP/ADMS 2500 3.00. Prior to Fall 2009 Prerequisite: AK/ADMS 2500 3.0. Course credit exclusion: AK/ADMS 3585 3.00. Learning Outcomes After completion of the course, apart from mastering the technical knowledge of the revenue and asset side of the financial statements, students should also 1. Understand the importance of ethics in the accounting profession and realize potential conflicts of interest that one may encounter in the profession. 2. Begin to learn how to see the inter-relationship
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Statement of Financial Position as at 31 December 2015 Assets Current Assets 2015 2014 Change % Change 3,440,409 1,567,636 1,872,773 119% 116,465,950 106,671,285 9,794,665 9% Other financial assets 57,538,433 53,732,736 3,805,697 7% Cash and cash equivalents 27,955,336 31,689,512 -3,734,176 -12% 205,400,128 193,661,169 11,738,959 6% 296,768,826 327,359,303 -30,590,477 -9% 1,278,489 1,987,123 -708,634 -36% 298,047,315 329,346,426 -31,299,111 -10% 503,447,443
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Hello Instructor Strandine and Class, I do apologize for posting so late, I have been very sick, but doing better. What kinds of risks does a firm like Amazon.com face with respect to safeguarding its assets? Amazon faces numerous risks in regards to safeguarding their assets. Some of these risks included are competition, loss of data and/or vendors, lack of redundancy and system interruption, inventory risk, government laws and regulations, and government contracts and related procurement
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accounting are usually a financial asset or a liability. An objective technique of calculating the value of company is to calculate its value based on future earnings. A subjective technique of valuation would be to judge the contributions of a company’s management. Depreciation is the adjustment to the net income of an item to the diminished value of fixed assets. Amortization is an adjustment to the net income of an aging entity to figure how to estimate the intangible assets cost over the estimated useful
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financial statements in accordance with the U.S. GAAP for US lenders and with the IFRS for U.K. parent. U.S. operation: As of December 31, 2012, Donna owns a commercial building that represents: A cash-generating unit (CGU) under IFRSs and a long-lived asset classified as held and used under U.S. GAAP. In December 2012, Donna’s competitor sold an identical commercial building much less than asking price. Information about the building is as follows. Donna’s Building 12/31/12 ($’000) Carrying amount
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