User Account

All Pages

Describe disclosure requirement for kind of events in future

Assignment Help Accounting Basics
Reference no: EM132608641

The financial period for ABC ltd Company will be ended by June 2020. During this financial period, as a result of the change in the currency exchange rate, ABC made $650 000 gain between the time of the sale of goods and the date on which payment was received for the first time. The company had not previously made sales denominated in foreign currencies.

Question 1: Assuming that the quantitative guidelines on materiality in AASB 1031 have been satisfied, describe how this event would be reported in the comprehensive profit statement.

Question 2: In your answer, discuss the disclosure requirement for these kinds of events in future.

Reference no: EM132608641

Questions Cloud

Graph of balance of loan outstanding versus time for method : A mortgage of $360,000 can be repaid over 15 years at a nominal interest rate of 4.2% calculated monthly by the following methods:
Calculate the revised fortnightly loan repayment instalment : Calculate the revised fortnightly loan repayment instalment when the borrower starts to pay back again, so the original loan period remains unchanged.
Analyzing the project plan of a payroll system : You have been assigned to analyze the project plan of a payroll system that is behind schedule and over budget. The project was supposed to be completed.
Find the sum of the present values of two payments : Find the sum of the present values of two payments of $200 each to be paid at the end of year 3 and 8, if
Describe disclosure requirement for kind of events in future : The financial period for ABC ltd Company will be ended by June 2020. Discuss the disclosure requirement for these kinds of events in future.
Which direction do you think is more realistic : In both the private and public sectors, a sharp increase in union membership coincides with the passage of protective legislation. A longstanding debate is.
How the spread duration of a fixed income portfolio : Explain how the spread duration of a fixed income portfolio can be used to position the portfolio for a change in economic conditions.
How implement as required to maintain financial objectives : How can you implement, monitor and modify contingency plans as required to maintain financial objectives? Explain in detail with an proper example.
Describe your consultative goals and consultative roles : A manager and his or her employee contacted you separately to complain about one another. The manager is complaining that the employee has an attitude about.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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