Questions from Advanced Accounting

Q: What guidelines does the Handbook provide for pledges received by an NFPO

What guidelines does the Handbook provide for pledges received by an NFPO?

Q: What is non-controlling interest, and where is it reported

What is non-controlling interest, and where is it reported in the consolidated balance sheet under the parent company extension and entity theories?

Q: What accounts on the consolidated balance sheet differ in value between entity

What accounts on the consolidated balance sheet differ in value between entity theory and parent company extension theory? Briefly explain why they differ.

Q: What is contingent consideration, and how is it measured at the

What is contingent consideration, and how is it measured at the date of acquisition?

Q: Explain how changes in the fair value of contingent consideration should be

Explain how changes in the fair value of contingent consideration should be reported, assuming that the contingent consideration will be paid in the form of cash.

Q: What reporting options related to business combinations are available to private companies

What reporting options related to business combinations are available to private companies?

Q: Briefly outline the process for determining if goodwill is impaired and how

Briefly outline the process for determining if goodwill is impaired and how to allocate any impairment loss.

Q: On the consolidated balance sheet, what effect does the elimination of

On the consolidated balance sheet, what effect does the elimination of intercompany receivables and payables have on shareholders' equity and non-controlling interest?

Q: Explain how the matching principle is applied when amortizing the acquisition differential

Explain how the matching principle is applied when amortizing the acquisition differential.

Q: What accounts in the financial statements of the parent company have balances

What accounts in the financial statements of the parent company have balances that differ depending on whether the cost or the equity method has been used?