User Account

All Pages

Reporting requirements for contingent liabilities

Assignment Help Accounting Basics
Reference no: EM13881342

1.Reporting requirements for contingent liabilities under IFRS differ somewhat from those under U.S. GAAP.

Required:
For each of the following, access the online version of the indicated financial report and answer the question. Also compare reporting under IFRS to similar reporting under U.S. GAAP.
1. SUBSEA 7 S.A. (Form 20-F, filed 3/2/2011): When there is a continuous range of possible outcomes, with each point in the range as likely as any other, what amount is accrued as the estimate of the obligation?
2. B Communications LTD (Form 20-F, filed 6/30/2011): With respect to legal claims, at what probability level would B Communications accrue a liability for a possible litigation loss?
3. Nestle (form 20-F, Filed 7/20/2011): What measurement attribute (e.g., historical cost, fair value) is used to measure contingent liabilities acquired in a business combination?

Reference no: EM13881342

Questions Cloud

Which are the endogenous variables in the model : To study the relationship between in?ation and yield on common stock, Bruno Oudet‡ used the following model: Rbt = α1 + α2 Rst + α3 Rbt-1 + α4 Lt + α5 Yt + α6 NIS t + α7 It + u1t Rst = β1 + β2 Rbt + β3 Rbt-1 + β4 Lt + β5 Yt + β6 NIS t + β7 Et + ..
Mark each item in the following list with a letter : The Coca-Cola Company is one of the world's leading manufacturers, marketers, and distributors of nonalcoholic beverage concentrates and syrups, producing more than 500 beverage brands. Mark each item in the following list with a letter to indicate w..
Make a project on developing an online gift store : Make a project on developing an online gift store for gift item selling by using PHP({[P]ersonaL [H]ome [P]age} Hypertext Preprocessor). The system should be  an online application that can be accessed through the web.
Which of the following is not a function of the warehouse : The definition of a warehouse is "a planned space for the storage and handling of goods and materials". Which of the following is not a function of the warehouse
Reporting requirements for contingent liabilities : 1.Reporting requirements for contingent liabilities under IFRS differ somewhat from those under U.S. GAAP.
Description of a real-life example of a specific corporation : Description of a real-life example of a specific corporation acting in a socially responsible manner
Estimate the number of reports the professor : Assume that an average report is the thickness of about 10 sheets of printer paper and use a single dimensional equation to estimate the number of reports the professor would have had to grade for her claim to be valid.
Obtain the reduced form : A simplified version of Suits' model of the watermelon market is as follows*-Demand equation: Pt = α0 + α1 (Qt /Nt ) + α2 (Yt /Nt ) + α3 Ft + u1t ,Crop supply function: Qt = β0 + β1 ( Pt / Wt ) + β2 Pt-1 + β3 Ct-1 + β4 Tt-1 + u2t - Ob..
Determine the fluid of unknown density : A fluid of unknown density is used in two manometers-one sealed-end, the other across an orifice in a water pipeline. The readings shown here are obtained on a day when barometric pressure is 756mm Hg. What is the pressure drop (mm Hg) from point ..

Reviews

Write a Review

Accounting Basics Questions & Answers

  Average daily census and occupancy rate and average length

average daily census and occupancy rate and average length of stay example original examplescenario that demonstrates

  The control environment reflects the companys attitude

the control environment reflects the companys attitude awareness and actions of management and the board concerning the

  Determine if any authority exits that would support current

Your client, Totally Toys, is a toy manufacturer. For several years, the company buried empty paint cans on its property. The paint was used in the production process.

  Gregory inc acquired 24 of the outstanding common stock of

gregory inc. acquired 24 of the outstanding common stock of handerson inc. on december 31 2012. the purchase price was

  Aren austin corporation has capitalized software costs of

aren austin corporation has capitalized software costs of 858500 and sales of this product the first year totaled

  At the end of 2009 tatum co has accounts receivable of

at the end of 2009 tatum co has accounts receivable of 700000 and an allowance for doubtful accounts of 28000. on

  Leased asset at the lease inception

If Pisa, Inc.'s incremental borrowing rate is 10% and the rate implicit in the lease (which is known by Pisa, Inc.) is 8%, what is the amount recorded for the leased asset at the lease inception?

  A manual check for the shipment of the goods

Journal entry for receiving $60,000 in safety product inventory and $40,000 in raw material .

  Analyze the effects of the preceding events on the

angela peters practiced law with a partnership for 10 years. recently she opened her own law office which she operates

  Financial and managerial accounting

Assume Amy Filler has just been promoted to product manager at Kraft Foods. Although she is an accomplished sales representative and well versed in market research, her accounting background is limited to reviewing her paycheck, balancing her chec..

  Concerns with using the type of technology

Many cafes are putting sensors on the bottom of cups to help alert the wait staff that a customer needs a refill. Would you introduce this technology to the cafe? If so, are there any concerns with using this type of technology?

  Prepare required journal entries for each group

The Market Adjustment-Trading account had a debit balance of $9,200, and the Market Adjustment-Available-for-Sale account had a credit balance of $5,750. Prepare the required journal entries for each group of securities for December 31, 2011.

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd