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INCOME STATEMENTa) Ignore the sales, cost of sales and the expenses of the associate company. However, premium or goodwill arising on acquisition of associate company should be computed the normal way as that of the subsidiary company incase of any impairment, then it should be included in the investing company’s expenses.
b) The investing company should report its share of profit before tax in associate company as part of other incomes and its hare of tax in associate company as part of its income tax expense. Alternatively, the investing company can show its share of profit after tax in associate company as other incomes.c) Just like in subsidiary companies the retained profits b/d of the investing company will be made up of the investing company’s retained profits b/d of the associate company. Adjustments for previously impaired goodwill or premium should be made at this stage.
Troubled Debt Restructuring - Agreement between CREDITOR and DEBTOR which amends the terms of a DEBT which has little chance of being paid in accordance with its contractual terms.
New Rules SEC i) Effective for years after December 15, 2006 ii) New Disclosures mandated (1) Fair value of options on grant date (2) Value of grant per 123R (3) Cl
how can make a balance sheet
a) A Treasury bond that matures in 10 years has a yield of 6%. A 10-year corporate bond has a yield of 8%. Suppose that the liquidity premium on the corporate bond is 0.4%. What is
The purchase of a car needs a $23,410 loan to be repaid in monthly installments for 4years at 12% annual real interest rate. If annual inflation rate is 4%, find the extra amount t
On 1 January 2008, a young artist called Michelangelo signed a contract with a charity named Art Angels, which supports young artists to do large projects. The agreement requires M
For several firms trade payables - suppliers of goods and services - represent the major component of current liabilities the amounts owed by the company which have to be repaid wi
What are the various strategies behind selected low (e.g., zero) or high coupon rates when issuing bonds?
Company A subsequently sells 60% of the voting interest in Company S for $900,000. The fair value of Company A's retained interest of 10% in the voting stock in Company S is $120,0
Q. Describe about Backdating? i) Exercise price is based on a lower share price prior to option grant date. Practice of marking a document with a date that precedes actual date
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