SOLUTION MANUAL
Modern Advanced Accounting In Canada,
10th Edition By Darrell Herauf, Chima Mbagwu,
Chapters 1 - 12, Complete
,
, Chapter 1
Conceptual & Case Analysis
Frameworks for Financial Reporting
A brief description of the major points covered in each case and problem.
CASES
Case 1-1
In this case, students are introduced to the difference in accounting for R&D costs between
IFRS and ASPE and asked to provide arguments to support the different standards.
Case 1-2 (adapted ffrom fa fcase fprepared fby fPeter fSecord, fSaint fMary’s fUniversity)
In fthis freal flife fcase, fstudents fare fasked fto fdiscuss fthe fmerits fof fhistorical fcosts fvs. freplacement
fcosts. fActual fnote fdisclosure ffrom fa fcompany’s ffinancial fstatements fis fprovided fas fbackground
fmaterial.
Case f1-3 f (adapted ffrom fa fcase fprepared fby fPeter fSecord, fSaint f Mary’s fUniversity)
, A fCanadian fcompany fhas fjust facquired fa fnon-controlling finterest fin fa fU.S. fpublic fcompany. fIt
fmust fdecide fwhether fto fuse fIFRS for fU.S. fGAAP ffor fthe fU.S. fsubsidiary. fFinancial fstatement
finformation fis fprovided funder fIFRS fand fU.S. fGAAP. fThe freasons ffor fsome fof fthe fdifferences
fin fnumbers fmust fbe fexplained fand fan fopinion fprovided fas fto fwhich fmethod fbest freflects
feconomic freality.
Case f1-4
This fcase fis fadapted ffrom fa fCPA fCanada fcase. fA fprivate fcompany fis fplanning fto fgo fpublic.
fAnalysis fand frecommendations fare frequired ffor faccounting fissues frelated fto fpurchase fand
finstallation fof fnew finformation fsystem, frevenue frecognition, fconvertible fdebentures fand
fdoubtfulfaccounts freceivable.
Case f1-5
This fcase fis fadapted ffrom fa fCPA fCanada fcase. f f fA fprivate fcompany fis fplanning fto ftransition
ffrom fASPE fto f IFRS. fAnalysis fand frecommendations fare frequired ffor faccounting fissues frelated
fto fconvertible fdebentures, funusual fitem, frevenue frecognition, fcontingency fand fimpairment.
Modern Advanced Accounting In Canada,
10th Edition By Darrell Herauf, Chima Mbagwu,
Chapters 1 - 12, Complete
,
, Chapter 1
Conceptual & Case Analysis
Frameworks for Financial Reporting
A brief description of the major points covered in each case and problem.
CASES
Case 1-1
In this case, students are introduced to the difference in accounting for R&D costs between
IFRS and ASPE and asked to provide arguments to support the different standards.
Case 1-2 (adapted ffrom fa fcase fprepared fby fPeter fSecord, fSaint fMary’s fUniversity)
In fthis freal flife fcase, fstudents fare fasked fto fdiscuss fthe fmerits fof fhistorical fcosts fvs. freplacement
fcosts. fActual fnote fdisclosure ffrom fa fcompany’s ffinancial fstatements fis fprovided fas fbackground
fmaterial.
Case f1-3 f (adapted ffrom fa fcase fprepared fby fPeter fSecord, fSaint f Mary’s fUniversity)
, A fCanadian fcompany fhas fjust facquired fa fnon-controlling finterest fin fa fU.S. fpublic fcompany. fIt
fmust fdecide fwhether fto fuse fIFRS for fU.S. fGAAP ffor fthe fU.S. fsubsidiary. fFinancial fstatement
finformation fis fprovided funder fIFRS fand fU.S. fGAAP. fThe freasons ffor fsome fof fthe fdifferences
fin fnumbers fmust fbe fexplained fand fan fopinion fprovided fas fto fwhich fmethod fbest freflects
feconomic freality.
Case f1-4
This fcase fis fadapted ffrom fa fCPA fCanada fcase. fA fprivate fcompany fis fplanning fto fgo fpublic.
fAnalysis fand frecommendations fare frequired ffor faccounting fissues frelated fto fpurchase fand
finstallation fof fnew finformation fsystem, frevenue frecognition, fconvertible fdebentures fand
fdoubtfulfaccounts freceivable.
Case f1-5
This fcase fis fadapted ffrom fa fCPA fCanada fcase. f f fA fprivate fcompany fis fplanning fto ftransition
ffrom fASPE fto f IFRS. fAnalysis fand frecommendations fare frequired ffor faccounting fissues frelated
fto fconvertible fdebentures, funusual fitem, frevenue frecognition, fcontingency fand fimpairment.
