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Presentation method (formerly closing rate or net investment method)Under this method, the branch operates with a lot of degree of autonomy from the head office. This position is reflected by the fact that there are fewer transactions taking place between the head office and the branch.
Any exchange gain or loss arising from translating the results of branch should be transferred to the foreign exchange reserve.NOTE: The functional currency method is normally used because in most cases the branch is an extension of the head office and the presentation method should only be used if the examiner requires so.
are the notes to the financial statements part of the financial reporting
Assume that the company has an investment opportunity. Building a new factory would cost $750 million but would reduce cash operating costs by $150 million per year for the next 1
Dealing with changes in the trust Profits or losses on disposal of investments should be treated as belonging to that part of the fund out of which they accrued. If not app
Sundry Matters 1) The accounting system is also appropriate for departmental accounts. 2) The branch stock account is a practical means of controlling stock at the branch.
Illustration of double entry The balances on the current accounts of a head office and branch were Ksh 698,000, before the transactions listed below: Normal 0
how to do the calsulations for bad debts
Purchase price $2.15 Exercised Price: $37.50 Currently Trading at $37.00 In order to make the decision on the best course of action, two tables of calculations are needed:
Answer both parts of this question. Each part is worth seven and a half marks each. (a) Describe the features of the Torrens Title system of land registration and compare them t
Q. Assembly of Financial Statements? Assembly of Financial Statements -Providing of various accounting or data-processingservices by an accountant, output of which is in the fo
The December 31, 2005, balance sheet of Far Imports includes the following items: The bonds were issued on December 31, 2004, at 97, with Interest payable on June 30 and December 3
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