Company determines that a provision

Assignment Help Accounting Basics
Reference no: EM13872294

If a company determines that a provision has a 51% chance of occurring, would it be required to accrue the provision under IFRS? Under U.S. GAAP? Be sure to explain your answer.

Reference no: EM13872294

Questions Cloud

Ending inventory information about the four major items : Compute the amount that should be reported for the ending inventory using the LCM rule applied to each item. How will the write-down of inventory to lower of cost or market affect the company's expenses reported for the year ended December 31?
What is the overall impact of your application : Write a short paper on the problem you are trying to solve and how your application will address this issue. If you need to create your own class with your own methods, elaborate of what those methods would be. If they are value-returning, what ..
What happens to the rms error for the validation data : What happens to the RMS error for the training data as the number of epochs inc reases - what happens to the RMS error for the validation data?
What is the cost of the asset being depreciated : What is the cost of the asset being depreciated? What amount, if any, was used in the depreciation calculations for the salvage value of this asset?
Company determines that a provision : If a company determines that a provision has a 51% chance of occurring,
Calculate the torque about the hinge : The upper edge of a gate in a dam runs along the water surface. The gate is 2.00 m high and 4.00 m wide and is hinged along a horizontal line through its center (Fig). Calculate the torque about the hinge arising from the force due to the water.
Differentiate the software concepts of operating system : Differentiate between the software concepts of operating systems, application programs, utility programs, and programming languages
Compute the amount of depreciation for the asset : Compute the amount of depreciation for this asset for 2014 and 2015 using the straight- line method. Compute the amount of depreciation for this asset for 2014 and 2015 using the sum-of- the-years'-digits method.
Different types of health and medical workforce shortages? : different types of health and medical workforce shortages?

Reviews

Write a Review

Accounting Basics Questions & Answers

  As a manager what factors do you consider when determining

as a manager what factors do you consider when determining the most effective way to communicate a message to you

  Assume that at january 1 2014 the carrying amount of the

assume that at january 1 2014 the carrying amount of the patent on celine dions books is 43200. in january celine dion

  Compute the anticipated break-even sales

For the current year ending March 31, Zing Company expects fixedcosts of $425, 750, a unit variable cost of $40, and a unit selling price of $65. Compute the anticipated break-even sales (units).

  Amount transferred to capital redemption reserve account

Calculate the number of fresh shares issued and the amount transferred to capital redemption reserve account.

  What do you think some of the differences are between

what do you think some of the differences are between variable and absorption costing? why is variable costing not

  Management of lakeland corporation

Discuss the business as well as accounting implications of move - management of Lakeland Corporation is concerned because survey data suggest that many potential customers do not buy vehicles

  Determine the average rate of return for project that is

determine the average rate of return for project that is estimated to yield total income of 400000 over four years cost

  Ground beef variances

a. What were Big Bob's ground beef price and quantity variance for the most recent week? b. What factor(s) could explain Big Bob's ground beef variances?

  Annual retainer paid to a video distributor

Classification at costs, merchandising sector Home Entertainment Center (HEC) operates a large store in San Francisco. The store has both a video section and a music section

  The following activities occurred during the current year

the following activities occurred during the current year 2013 for the maverick law firm. on february 1 2013 received

  Variable manufacturing costs

Variable manufacturing costs $ $ $

  Prepare all necessary entries to record

Explain whether each of the above is an accounting change in estimate (or change in estimate affected by a change in principle), change in accounting principle, an error correction or none of the above. Prepare all necessary entries to record/corre..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd