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!
Problem 1: Under IFRS 3, how shall an entity (acquirer) account for each business combination?
a) Equity methodb) Acquisition methodc) Proportionate consolidation methodd) Pooling of interest method Problem 2: Under IFRS 3, contrary to IAS 37, what is the recognition principle of contingent liability assumed in a business combination?
a) The acquirer shall recognize as of the acquisition date a contingent liability assumed in a business combination if it is a present obligation that arises from past events and its fair value can be measured reliably even only reasonably possible. b) The acquirer shall recognize a contingent liability assumed in a business combination at the acquisition date only if it is virtually certain that an outflow of resources embodying economic benefits will be required to settle the obligation.c) The acquirer shall recognize a contingent liability assumed in a business combination at the acquisition date only if it is remote that an outflow of resources embodying economic benefits will be required to settle the obligation.d) The acquirer shall recognize a contingent liability assumed in a business combination at the acquisition date only if it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation. Problem 3: In some changes in the fair value of contingent consideration that the acquirer recognizes after the acquisition date may be the result of additional information that the acquirer obtained after that date about facts and circumstances that existed at the acquisition date. These are called measurement period adjustments that can be adjusted during the measurement period. Which of the following transactions is considered as a measurement period adjustment that the acquirer shall retrospectively adjust goodwill/gain on bargain purchase during the measurement period which shall not exceed one year from acquisition date?
a) Increase in the fair value of the financial liability at fair value through profit or loss issued as consideration for business combination due to movement of prices in the exchange market.b) Changes in the value of contingent consideration occurring within one year from the acquisition date as a result of events occurring after the acquisition date such as meetings on earnings target, a specified share price or reaching a milestone on a research and development project.c) Changes in the provisional amount of contingent liability or contingent consideration as a result of new information obtained about the facts and circumstances that existed as of the acquisition date and, if known, would have affected the measurement of the amounts recognized as of that date.d) Change in the carrying amount of the financial liability at amortized cost issued as consideration for business combination due to amortization of the premium/discount on financial liability.
Fire occurred at the factory of Burny Corporation, Compute for the estimated value of inventory damaged by fire. Present solutions in good accounting form.
Kirby, Inc. records a sale with a gross margin of $1,400. Which one of the following statements correctly describes the effect of such a sale on its balance sheet?
Calculations for the amount of property, plant. Calculations that convert the project's EBIT to free cash flow for the 12 years of the project.
Martin transfers real estate with an adjusted basis of $260,000 and fair market value of $350,000 to a newly formed corporation in exchange for 100% of the stock. The corporation assumes the liability on the transferred real estate in the amount of $..
Prepare the journal entry to record the acquisition of the assets.
If businesses are producing at capacity, and nation is experiencing almost full employment (a very low rate of unemployment - less than 2%), the Fed may decide
Compute the amount that GE received from the exercise of stock options each year versus the amount it would have received if it had issued the same number of shares on the market.
Suppose further that we can earn a return of 6% on our savings, which are currently zero. How much should our deposits be at the end of each year
You are a CPA in a regional public accounting firm that has ten offices in three states. Mr. Shine has approached you with a request for an audit. He is the president of Hitech Software and Games Inc., a five-year-old company that has recently grown ..
Should exercise the option at expiration if the price of Keebler stock is $80. Will have a worthless option in August if the stock price is $80 at that time.
Oppong Corporation's employees were last paid on Monday May26, 2014, and will be paid again on Monday June 9, 2014. What the the transaction on the June payday
Your company is considering factoring its receivables. Which of the statements is NOT true? Factoring would allow you to receive the cash from your sales
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