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The functional currency method (formerly temporal method)
Under this method, the branch is considered to be an extension of the head office and this is reflected by the trading arrangement between the head office and branch.In most cases the head office will send goods to the branch and the branch will remit the proceeds on sale of these goods to the head office. Any exchange gain or loss arising from translating the results of the branch is treated as profit and loss item reported as an income or an expense.
1. From your review of note 3.7, how does the company determine whether a sale has occurred? 2. Using the consolidated income statement and consolidated statement of financial p
1. Firm L has debt with a market value of $200,000 and a yield of 9%. The firm's equity has a market value of $300,000, its earnings are growing at a rate of 5%, and its tax rate i
Purchases office supplies on account costing $12,600 during July. It pays $5,500 for these purchases during July and the remainder during August. Office supplies on hand on July 1
Interstate Manufacturing produces brass fasteners and incurred the following costs for the year just ended: Materials and supplies used Brass
Calculation of Efficiency ratios - 2008 2009 2010 M Net Sales
"Government departments should take audit report seriously by preparing annual financial statement on time".... Based on the above statement, suggest ways on how government depa
How to calculate fair value of long-lived asset when the information about fair value is not available?
what managers should know about internal rate of return( IRR) and why
I am an AAT student studying lvl 3 AAT at college. I wish to learn how to complete self assessment end of year tax return forms for other people. That is because I have already bee
Wider-range Investments (Requiring advice in writing from a properly qualified person) Quoted shares of a company with a paid-up capital of not less than Shs10m and has
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