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FOREING BRANCHES The head office my set up a branch in a foreign country. IAS 21 requires that the results of that foreign branch to be translated into the local currency for t
Ely purchased a patent (with a remaining legal life of ten years) from Backo on January 1, 2010 for $300,000. Ely expected to use the patent for five years. The carrying value on B
State the role of Accounting information Accounting information has a significant role to play in reporting the extent to which different groups have benefited from the busines
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
Attribution When individuals monitor performance they attempt to determine if it is inner or outer caused. "Inner caused" means 1 believes that an event was under the personal
Inventories constitute a important portion of the current assets ranging from 40 percent to 60 percent for manufacturing companies. The manufacturing companies conduct investments
A project has a one-year life. It has an outlay of Rupee 1,500 million. At the end of Year 1, the net inflow is likely to be Rupee 2,200 million. The pretax cost of debt is 11%, th
Grants are not necessarily recognized as revenue when they are awarded. Columbus City was awarded a state reimbursement grant of $150,000 to assist its adult literacy program. The
In June 2004, Feltex Carpets Limited raised NZ $254 million in an initial public offering. Twenty seven months later the company was in receivership, its share price having collaps
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