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Len Inn is the accountant for Wallaby Trucks Ltd. This entity has an 80% holding in the entity Tyres-R-Us Ltd. Len is concerned that the consolidated financial statements prepared under AASB 10 may be misleading. He believes that the main users of the consolidated financial statements are the shareholders of Wallaby Trucks Ltd. The key performance indicators are then the profit numbers relating to the interests of those shareholders. He therefore wants to prepare the consolidated financial statements showing the non-controlling interest in Tyres-R-Us Ltd in a category other than equity in the statement of financial performance, and for the statement of changes in equity to show the profit numbers relating to the parent shareholders only.
Question:Discuss the differences that would arise in the consolidated financial statements if the non-controlling interests were classified as debt rather than equity, and the reasons the standard setters have chosen the equity classification in AASB 10
Explain the difference in operating income for January and February and March under variable costing and absorption costing
information that a listed company has incurred exceptionally high losses during a financial year has been disclosed.
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On September 1, 2014, Universal Coat Company sold at 104 (plus accrued interest) 3,000 of its 8%, 10-year, $1,000 face value, nonconvertible bonds with detachable stock warrants. Each bond carried two detachable warrants. Each warrant was for one sha..
february 700 units of sales 1900 units desired ending inventory2600-800 beginning inventory800 units to be produced 2
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below is a trial balance as of july 31 xx for les cash and his wife mora. together they own and operate the cash inn.
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What was the clinic's dollar growth in assets during 2007, and how was the growth financed and Determine of Firm's Dollar Growth in dollars
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