Reference no: EM132298819

Question. 1-Assessment Question: Verifying Information - 200 words with reference

Sub: Nursing - Applied Statistics for Health care professionals.

Class, verifying information from different sources is a topic that seems to come up regularly in this course. Please take a moment to discuss how you verify information that is supplied to you from pharmaceutical companies.

What experience do you have in verifying information?

How do you know what they are telling you is statistically valid?

Question 2-Assessment Question: Misleading Graphics- 200 words with reference

Sub: Nursing - Applied Statistics for Health care professionals.

Class, please try to find a graph or graphic that looks as though it can be misleading or purposely misrepresented. Provide a quick description too!

Question 3 please respond the below statement - -200 words with reference

Sub: Advanced Accounting

In our fifth week's course discussion, we are focusing on translation adjustments, there computation, where these adjustments are typically reported in consolidated financial statements, and how these adjustments may or may not differ between companies and industries. Essentially, a translation is the process of converting financial statements from the functional currency into a different currency, and has no impact on an entity's future cash flows and the effects of a translation will be reported in equity (Deloitte &Touche LLP, 2018, p. 14). These adjustments keep the accounting equation of assets = liabilities + owner's equity in balance. There are positive translation adjustments, where assets are translated at the current exchange rate and the foreign currency has appreciated and generated a positive credit, and there are negative translation adjustments. In the case of negative translation adjustments, liabilities that are translated at the current exchange rate, while the foreign currency has appreciated generate a negative translation adjustment. There are two major methods for translation the current rate method and the temporal method.

The current rate method is based on the fact that a firm's net investment in a foreign operation is exposed to foreign exchange risk, and the temporal method attempts to achieve a set of parent company country's currency dominated financial statements, as if the foreign subsidiary had actually used the currency of the country of the parent company (Doupnik, 2017, pp. 477-8). I have included examples of both methods below. The ASC 830 deals with Foreign Currency Matters, and the guidance for disclosing translation adjustments. The resulting adjustments from a translation should be recorded in the other consolidated income (OCI), and the deferred taxes from the translation should be provided unless enough evidence is available that the subsidiary will or has invested the undistributed earnings indefinitely or that the earnings will be remitted in a tax-free liquidation. An analysis of the changes should also be disclosed in the cumulative translation adjustment (CTA). This information can be presented in a separate financial statement, the notes section to the financial statement, or in the statement of changes in equity (Deloitte &Touche LLP, 2018, p. 171). If an entity fails to properly disclose these adjustments in the recommended format given by the ASC 830-30-45-20, the SEC will most likely ask that the disclosures be revised. Now, I will go into some actual examples of both the current rate method and the temporal method.

Volvo Car Corporation, a Swedish company that has identified the local currency (USD) as its functional currency, is a subsidiary of the parent company Geely Sweden Holdings AB, a Swedish parent that uses the Swedish Krona (SEK) for reporting purposes. Volvo Car Corporation has debt on its books that is denominated in USD and EUR.

Before translating it financial statements, Volvo Car Corporation is first required to recognize transaction gains or losses related to its foreign-currency-denominated debt. This is accomplished with the Volvo Car Corporation using the exchange rates existing as of the balance sheet date for the SEK and the USD. Secondly, the EUR-denominated debt by using the exchange rates existing as of the balance sheet date for the PLN and the EUR. The offset to each of these entries is recorded in earnings as a transaction gain or loss.

Then, Geely Sweden Holdings AB translates the functional-currency (local-currency) financial statements of Volvo Car Corporation into USD. The current exchange rate as of the balance sheet date is used to translate assets and liabilities while an appropriate rate (weighted-average exchange rate for the period) is used to translate revenues, expenses, and other income statement items. The translation adjustments are recorded as a cumulative translation adjustment (CTA), a separate component of OCI.

In the case of multilevel consolidation, where a Swedish parent company Zhejiang Geely Holding Group Co. Ltd owns the second-tier Swedish subsidiary Geely Sweden Holdings AB, which in turn wholly owns a third tier Multinational or U.S. subsidiary Volvo Car Corporation. The local currency is the functional currency for all entities, and the reporting currency of the consolidated entity is the USD. When the financial statements are prepared for the consolidation of the subsidiaries with the Swedish parent, the Geely Sweden Holdings AB will translate the U.S. subsidiary's USD-dominated financial statements into SEK-denominated financial statements. The USD-to-SEK translation adjustment would be recorded in the CTA of the Swedish subsidiary's financial statements. The parent company Zhejiang Geely Holding Group Co. Ltd can then translate the USD or EUR-dominated, consolidated financial statements of the Swedish or U.S. subsidiary Volvo Car Corporation into SEK. The USE-to-SEK translation adjustment would be recorded in the CRA of the Swedish parent company Zhejiang Geely Holding Group Co. Ltd.'s financial statements. I know my discussion post is a little long, but I hope that I was able to answer the given questions and provide a little more insight into translation adjustments.
Danyiel Gordon

Question 4-please respond the below statement - -200 words with reference

SubJect : advanced accounting

"Foreign currency translation-This is the process of expressing a foreign entity's functional currency financial statements in the reporting currency. Changes in reporting currency amounts that result from the translation process are called translation adjustments ("Foreign Currency", 2014 Pg. 1-2)." Translation adjustment does not have to be realized through inflows and outflows of cash. When the current rate method is used the calculated adjustment is unrealized in the income statement.

There are two methods that are used for translation adjustment. The two methods are the historical exchange rate and the current exchange rate. The historical exchange rate method basically reports the exchange rate at what it was when the initial exchange occurred. The current exchange rate adjusts the rate to reflect the same rate that is at the balance sheet date not what was at the transaction date. For example if a company based in the United States bought goods from Germany and $2 equaled 1 euros. Using the historical exchange rate only the amount that came from that exchange rate would be recorded and never adjusted. If the same company was using the current exchange rate and the exchange changed from $2 equaling 1 euro to $1.50 equaling 1 euro, then the current amount would be recalculated using the current exchange rate that exists at the balance sheet date.

Since companies are exposed to foreign exchange risks from investing in foreign businesses the current rate method is used. It matches the foreign currency decreases or increases in currency with the foreign investment accounts. So if the value of the foreign currency increases or decreases the goods or investment that is linked to the currency will fluctuate in the same manner. In the consolidated statements this is represented by debiting the balance of the investment which will reduce it if there is a decrease in the value of the domestic currency. If there is an increase in value to the currency then the value of that good or investment will adjusted with a credit on the consolidated financial statements. While assets are shown on the balance sheet at current rates, the stockholders equity account is shown at historical rates so that the subsidiary accounts will be equal to what the parent has on its books for the investment in the subsidiary at the historical cost.

If foreign companies are tightly integrated by the parent company that they operate mostly in that parent's currency, then they should use the temporal method and should reflect translation gains and losses in the income statement. If the subsidiary handles business transactions mostly in a domestic currency and not that of the foreign parents, then they will use the current method to reflect their adjustments will go through OCI and not through net income.