Solution-Discuss events require disclosure in the financial

Discuss events require disclosure in the financial statement

Assignment Help Accounting Basics

Reference no: EM132683108

Question 1: Discuss whether the following events would require disclosure in the financial statements of the RP Group, a public limited company, under HKAS 24 'Related Party Disclosure'.

The RP Group, merchant bankers, has a number of subsidiaries, associates and joint ventures in its group structure. During the financial year to 31 October 20X1, the following events occurred:

(i) The company agreed to finance a management buyout of a group company, AB, a limited company. In addition to providing loan finance, the company has retained a 25% equity holding in the company and has a main board director on the board of AB. RP received management fees, interest payments and dividends from AB.

(ii) On 1 July 20X1, RP sold a wholly owned subsidiary, X, a limited company, to Z, a public limited company. During the year, RP supplied X with second hand office equipment and X leased its factory from RP. The transactions were all contracted for at market rates.

Reference no: EM132683108

Questions Cloud

What will your attitude be if you were in joe place : The Young Trainee Jose Corpuz is an old timer in the Manila Engineering and Equipment Corporation. The company produces various machine parts of high quality

Vast majority of the population associates blockchain : The vast majority of the population associates Blockchain with cryptocurrency Bitcoin; however, there are many other uses of blockchain;

Discussing the concept of risk modeling : Your task this week is to write a research paper discussing the concept of risk modeling.

Do you expect that the BSP will be more concerned : Given the circumstances, do you expect that the BSP will be more concerned about increasing economic growth or reducing inflation

Discuss events require disclosure in the financial statement : Discuss events would require disclosure in the financial statements of the RP Group, a public limited company, under HKAS 24 'Related Party Disclosure'.

Describe the major alternative work arrangements : Describe each of the major alternative work arrangements. What are the advantages and/or disadvantages to the individual and/or organization in using these opti

What potential risks do you foresee : What previous experience of research involving human participants relevant to this project do you have and What previous experience of research involving human

Industry experts believe blockchain is technology : Industry experts believe blockchain is a technology that has the potential to affect the business of most IT professionals in the next five years.

Discuss the relevance to australian auditors : Critically discuss the relevance (if any) of the developments following WorldCom (for example the Sarbanes-Oxley Act) to Australian Auditors

User Account

All Pages

Discuss events require disclosure in the financial statement

Reference no: EM132683108

Reference no: EM132683108

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT