Tài liệu Khối Ngành Kinh Tế

The term “permanent differences” does not appear in IAS No. 12 but the concept applies in the determination of tax expense. However, IAS No. 12 specifically prohibits: The recognition of certain temporary differences that arise on initial recognition when the underlying transaction is not a business combination and that “affects neither accountin...

41 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 500 | Lượt tải: 0

Sometimes a lessee will make improvements to leased property that reverts back to the lessor at the end of the lease. Like other assets, leasehold improvement costs are allocated as depreciation expense over its useful life to the lessee, which is to be the shorter of the physical life of the asset or the lease term.

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Transaction costs include fees and commissions paid to advisers, intermediaries, regulatory agencies and exchanges, and specific taxes paid to governments Debt premiums or discounts, financing costs or internal administrative or holding costs are not transaction costs.

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The classification of financial liabilities requires the consideration of The terms of contract including the date of settlement, The right of the creditor to call back the loan, The right of the borrower to reschedule the loan repayment, and The provision of a grace period in the event that the borrower breaches a covenant in t...

41 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 806 | Lượt tải: 1

Unrealized gains and losses from trading securities are reported on the income statement. Unrealized gains or losses at reclassification should be accounted for in a manner consistent with the classification into which the security is being transferred.

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Definition of Fair value: The amount for which an asset could be exchanged between knowledgeable and willing parties in an arm’s length transaction. For intangible assets, fair values must be determined with reference to an active market. For property, plant and equipment’s fair value can be determined with reference to an active market, or it...

61 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 576 | Lượt tải: 0

Issuance of Equity Securities Asset acquired is recorded at the fair value of the asset or the market value of the securities, whichever is more clearly evident. If the securities are actively traded, market value can be easily determined. If the securities given are not actively traded, the fair value of the asset received, as determined by app...

44 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 540 | Lượt tải: 0

International standards require inventory to be valued at the lower of cost or market, but the process is slightly different for the U.S. method of applying LCM. LCM requires selecting market from replacement cost, net realizable value or NRV reduced by the normal profit margin. Designated market is compared to historical cost to determine LCM.

55 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 493 | Lượt tải: 0

Picture This, LLC, uses a standard frame size for all pictures to hold down product costs. The following schedule shows the frame inventory for Picture This, LLC, for September. The physical inventory count at September 30 shows 1,400 frames in ending inventory. Use the perpetual average cost method to determine: (1) Ending inventory cost (2...

57 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 523 | Lượt tải: 0

Assume that you borrow $700 from a friend and intend to repay the amount in four equal annual installments beginning one year from today. Your friend wishes to be reimbursed for the time value of money at an 8% annual rate. What is the required annual payment that must be made (the annuity amount) to repay the loan in four years?

39 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 690 | Lượt tải: 0