Questions from Advanced Accounting

Q: What sort of reconciliations are required for segmented reporting?

What sort of reconciliations are required for segmented reporting?

Q: Explain how the use of the information provided in segment disclosures can

Explain how the use of the information provided in segment disclosures can aid in the assessment of the overall profitability of a company.

Q: What is a reverse takeover, and why is such a transaction

What is a reverse takeover, and why is such a transaction entered into?

Q: Explain how the definitions of assets and liabilities can be used to

Explain how the definitions of assets and liabilities can be used to support the consolidation of special-purpose entities.

Q: Explain how to account for an interest in a joint operation.

Explain how to account for an interest in a joint operation.

Q: Y Company has a 62% interest in Z Company. Are

Y Company has a 62% interest in Z Company. Are there circumstances where this would not result in Z Company being a subsidiary of Y Company? Explain.

Q: Briefly outline how the presentation of assets and liabilities on the statement

Briefly outline how the presentation of assets and liabilities on the statement of financial position of a government differs from the presentation shown on the balance sheet of a typical business ent...

Q: The treatment of an unrealized intercompany inventory profit differs between a parent

The treatment of an unrealized intercompany inventory profit differs between a parent subsidiary affiliation and a venture-joint venture affiliation. Explain where the differences lie.

Q: A venturer invested non-monetary assets in the formation of a

A venturer invested non-monetary assets in the formation of a new joint venture and did not receive any monetary consideration. The fair value of the assets invested was greater than the carrying amou...

Q: Explain how the revenue recognition principle supports the recognition of a portion

Explain how the revenue recognition principle supports the recognition of a portion of gains occurring on transactions between the venturer and the joint venture.