Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - This assignment requires students to apply appropriate Australian Accounting Standards and Corporate Legislation in the preparation of accounting reports for related companies. Students are required to complete the case study individually.
Jenny Chan is the accountant for Great Ltd. She is required to make a set of consolidated financial statements for the group. Jenny is concerned about the calculation of the NCI share of equity, particularly where there are intragroup transactions. The auditors have advised Jenny that when adjustments are made for intragroup transaction the effects of these transactions on the NCI should also be adjusted for.
Jenny reports to Mr Frank Finn, the Chief Financial Officer of the company. He has asked Jenny to report to him on these issues raised by the auditor. In her report, Jenny will need to clarify how the adjustment to NCI is made and why. She has also been asked to explain why she has measured NCI in the subsidiary at fair value and to report on any alternative method that is available.
From the above information, discuss the issues that Jenny must address in her report to Mr Finn. In your discussions please include references to applicable accounting standards and the amounts used in your consolidation workings (at least two examples for each argument are to be provided).
Prepare cash budget for the Brokman Company for the 2nd quarter of the year. Include April, May, June, and a quarter total in your budget
A compact disc cost $15 in the United States. If purchasing power parity (PPP) holds, what should be the price of the same disc in Mexico
Prepare an acquisition analysis and the consolidation journal entries necessary for preparation of the consolidated financial statements
What do you find most difficult about ratio analysis? What, in your opinion, are the two most important ratio analyses? Why?
Direct Labor hours are actually 450,000. If Wolf Co. allocates overhead based on direct labor HOURS, what is the predetermined overhead rate
What was the Committee on Accounting Procedure, and what were its accomplishments and failings?
Create the adjustment journal entries required to eliminate the intra-group transactions in the consolidation worksheet of Fauci Ltd Group at 30 June 2020.
Loster Company reported a net loss of $14,104 for the year ended December 31. What was the net cash used for or provided by operating activities
Acorn Industries completes these transactions during July of the current year (the terms of all its credit sales are 2/10, n/30).
Health PLan Premium. If a health plan covers 150,000 lives expects 25 myocardial infarctions to occur each year within the covered lives, expects a length.
Early in 2016, the Excalibur Company began developing a new software package to be marketed. Prepare a journal entry to record the 2016 development costs
gill corporation manufactures model airplane. the company purchased for 170000 automated production equip that can make
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd