Tài liệu Kế Toán - Kiểm Toán

The net amount of cash inflows and outflows reconciles the change in the company’s beginning and ending cash balances. For example, assume that UBC’s net increase in cash is $9 million and the Cash beginning balance is $20 million. The cash reconciliation would be as follows

39 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 564 | Lượt tải: 0

There is another exception to retrospective application. That is when an IASB Statement or another authoritative pronouncement requires prospective application for specific changes in accounting policies: The entity is required to follow the IFRS prescribed transitional provisions when it first applies the changes in a new or amended standard. ...

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Ordinary shares issued as part of bonus issues (also known as share or stock dividends) and share splits are treated retroactively as subdivisions of the shares already outstanding at the date of the split or dividend. If shares were reacquired during the period, the weighted-average number of shares is reduced. The number of reacquired shares is ...

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Treasury shares usually do not have: Voting rights. Dividend rights. Preemptive rights. Liquidation rights. Treasury shares are reported as an unallocated reductionof total Shareholders’ Equity. Acquisition of Treasury Shares Recorded at cost to acquire. Resale of Treasury Shares Treasury Shares credited for cost. Difference between cost...

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Step 1. Use the defined benefit formula to determine the retirement benefits earned to date. $400,000 × 10 × 1.5% $ 60,000 per year Step 2. Find the present value of the retirement benefits as of the retirement date. The present value (n=20, i=6%,) of the retirement annuity at the retirement date is $688,195 ($60,000 × 11.46992). Step 3...

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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...

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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...

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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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