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You are an accountant working for Tesla Inc and have been asked to research the current accounting treatment for crypto currencies and to Explain a summary of your findings for the board. Several board members are concerned about the impact of the recently reported impairment loss and want to better understand the impact of future changes in the market price of Bitcoin on the financial statements.
Note that Tesla Inc currently uses US GAAP for its financial reporting and submissions to the SEC as it is listed on the NASDAQ exchange. Consequently, your report should include a comparison of US GAAP and IFRS for the treatment of digital assets.
Note: Your audience here are the board members of Tesla so ensure your work is directed at an informed audience.
He produces last three years of Annual reports. As a Loan Manger in ABC Bank, which are the most relevant ratios you will certainly evaluate?
Garth purchased merchandise inventory costing $24,000 with credit terms of 2/10, net 30. Eight days after the purchase, Garth paid one-half of the outstanding obligation. The remaining amount was paid 30 days after the date of purchase.
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