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!
Point 1: Nova Mine Engineering is a junior Canadian company with a variety of operating subsidiaries and other undertakings that provide mine engineering and management services in Canada and in several less-developed countries. One of these subsidiaries is active in Zimbabwe, which is rich in mineral resources and has an active mining industry. This company, Zimbabwe Platinum Management (ZPM), is under review prior to year-end translation and consolidation. The staff of ZPM consists primarily of junior and intermediate Nova staff who have been seconded to the operation on one- to three-year terms. Between the companies there is information flow but no product movement. Capital investment in Zimbabwe is restricted to movable equipment and working capital with a value of about CDN$3,000,000.
Point 2: Management of Nova has long been concerned about its inability to hedge against fluctuations in the Zimbabwean dollar. All payments to ZPM from the state Mineral Marketing Corporation have recently been made in this currency, rather than in U.S. dollars as specified in earlier contracts. It is this inability to hedge that has increased Nova's concern about the long-run fit of ZPM within the portfolio of Nova companies, as well as the current financial statement presentation. The currency has declined in value by 65% during the year. Other concerns include Zimbabwe's persistent high inflation, recently about 35%, which is expected to increase even further. Political uncertainty is also a concern, as a result of recent nationalizations in the agricultural sector and growing unrest among the poor.
Required:
Question 1: In a briefing note, advise senior management of Nova how the investment in the subsidiary ZPM should be measured and reported, and what disclosures should be made with respect to this investment in the annual report of the parent company.
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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