Questions from Intermediate Accounting

Q: In financial reporting, the goal is to provide useful information to

In financial reporting, the goal is to provide useful information to users of the financial statements such as investors. Investors often use numbers from the financial statements (and other sources)...

Q: Materiality has always been an elusive concept in IFRS. It is

Materiality has always been an elusive concept in IFRS. It is defined in a general sense, but, in the past, there has been little guidance to help preparers and others apply the concept. For this reas...

Q: The Canadian Coalition for Good Governance (www.ccgg.ca

The Canadian Coalition for Good Governance (www.ccgg.ca) was formed in 2002 and represents a significant number of institutional investors in Canada. Instructions a. What is the purpose of the CCGG? b...

Q: Obtain the 2017 financial statements of Teck Resources Limited from SEDAR (

Obtain the 2017 financial statements of Teck Resources Limited from SEDAR (www.sedar.com). Instructions a. Using the notes to the consolidated financial statements, determine the company's revenue re...

Q: Refer to the 2017 financial statements and accompanying notes of Royal Bank

Refer to the 2017 financial statements and accompanying notes of Royal Bank of Canada (RBC) that are found on the company's website (www.royalbank.ca) or at www.sedar.com. Instructions a. What percent...

Q: Gain access to the 2017 financial statements of Potash Corporation of Saskatchewan

Gain access to the 2017 financial statements of Potash Corporation of Saskatchewan from the company's website or www.sedar.com. On January l, 2018, PotashCorp and Agrium completed a merger and formed...

Q: Medici Patriarchs purchased the following investments during 2020: a.

Medici Patriarchs purchased the following investments during 2020: a. 1,000 shares of Private Limited, a start-up company. The value of this investment was based on an internally developed model. b. 5...

Q: Newvo Ltd. shows on its statement of financial position a patent

Newvo Ltd. shows on its statement of financial position a patent. At its year end of October 31, 2018, the caption read Patent (net) $66,000 and at its year end of October 31, 2019, the caption read P...

Q: Refer to the annual financial statements of Hudson's Bay Company for its

Refer to the annual financial statements of Hudson's Bay Company for its fiscal year ended February 3, 2018 (fiscal 2017), found at the end of the book. Instructions a. Review Hudson's Bay's balance...

Q: Access the financial statements of both BCE Inc. and TELUS Corporation

Access the financial statements of both BCE Inc. and TELUS Corporation for their years ended December 31, 2017, from either the companies' websites or SEDAR (www.sedar.com). Instructions Using the fi...