SOLUTION MANAUL FOR
Modern Advanced Accounting In Canada
By Darrell Herauf, Chima Mbagwu
11TH Edition
Copyright © 2019 McGraw-Hill Education. All rights reserved.
Solutions Manual, Chapter 6 1
,TABLE OF CONTENTS
CHAPTER 1 Conceptual And Case Analysis Frameworks For Financial Reporting
CHAPTER 2 Investments In Equity Securities
CHAPTER 3 Business Combinations
CHAPTER 4 Consolidation Of Non-Wholly Owned Subsidiaries
CHAPTER 5 Consolidation Subsequent To Acquisition Date
CHAPTER 6 Intercompany Inventory And Land Profits
CHAPTER 7 (A) Intercompany Profits In Depreciable Assets (B) Intercompany Bondholdings
CHAPTER 8 Consolidated Cash Flows And Changes In Ownership
CHAPTER 9 Other Consolidation Reporting Issues
CHAPTER 10 Foreign Currency Transactions
CHAPTER 11 Translation And Consolidation Of Foreign Operations
CHAPTER 12 Accounting For Not-For-Profit And Public Sector Organizations
, 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 From A Case Prepared By Peter Secord, Saint Mary’s University)
In This Real Life Case, Students Are Asked To Discuss The Merits Of Historical Costs Vs. Replacement Costs.
Actual Note Disclosure From A Company’s Financial Statements Is Provided As Background Material.
Case 1-3 (Adapted From A Case Prepared By Peter Secord, Saint Mary’s University)
Copyright © 2019 McGraw-Hill Education. All rights reserved.
Solutions Manual, Chapter 6 3
, A Canadian Company Has Just Acquired A Non-Controlling Interest In A U.S. Public Company. It Must Decide
Whether To Use IFRS Or U.S. GAAP For The U.S. Subsidiary. Financial Statement Information Is Provided
Under IFRS And U.S. GAAP. The Reasons For Some Of The Differences In Numbers Must Be Explained And An
Opinion Provided As To Which Method Best Reflects Economic Reality.
Case 1-4
This Case Is Adapted From A CPA Canada Case. A Private Company Is Planning To Go Public. Analysis And
Recommendations Are Required For Accounting Issues Related To Purchase And Installation Of New Information
System, Revenue Recognition, Convertible Debentures And Doubtful Accounts Receivable.
Case 1-5
This Case Is Adapted From A CPA Canada Case. A Private Company Is Planning To Transition From ASPE To
IFRS. Analysis And Recommendations Are Required For Accounting Issues Related To Convertible Debentures,
Unusual Item, Revenue Recognition, Contingency And Impairment.
Modern Advanced Accounting In Canada
By Darrell Herauf, Chima Mbagwu
11TH Edition
Copyright © 2019 McGraw-Hill Education. All rights reserved.
Solutions Manual, Chapter 6 1
,TABLE OF CONTENTS
CHAPTER 1 Conceptual And Case Analysis Frameworks For Financial Reporting
CHAPTER 2 Investments In Equity Securities
CHAPTER 3 Business Combinations
CHAPTER 4 Consolidation Of Non-Wholly Owned Subsidiaries
CHAPTER 5 Consolidation Subsequent To Acquisition Date
CHAPTER 6 Intercompany Inventory And Land Profits
CHAPTER 7 (A) Intercompany Profits In Depreciable Assets (B) Intercompany Bondholdings
CHAPTER 8 Consolidated Cash Flows And Changes In Ownership
CHAPTER 9 Other Consolidation Reporting Issues
CHAPTER 10 Foreign Currency Transactions
CHAPTER 11 Translation And Consolidation Of Foreign Operations
CHAPTER 12 Accounting For Not-For-Profit And Public Sector Organizations
, 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 From A Case Prepared By Peter Secord, Saint Mary’s University)
In This Real Life Case, Students Are Asked To Discuss The Merits Of Historical Costs Vs. Replacement Costs.
Actual Note Disclosure From A Company’s Financial Statements Is Provided As Background Material.
Case 1-3 (Adapted From A Case Prepared By Peter Secord, Saint Mary’s University)
Copyright © 2019 McGraw-Hill Education. All rights reserved.
Solutions Manual, Chapter 6 3
, A Canadian Company Has Just Acquired A Non-Controlling Interest In A U.S. Public Company. It Must Decide
Whether To Use IFRS Or U.S. GAAP For The U.S. Subsidiary. Financial Statement Information Is Provided
Under IFRS And U.S. GAAP. The Reasons For Some Of The Differences In Numbers Must Be Explained And An
Opinion Provided As To Which Method Best Reflects Economic Reality.
Case 1-4
This Case Is Adapted From A CPA Canada Case. A Private Company Is Planning To Go Public. Analysis And
Recommendations Are Required For Accounting Issues Related To Purchase And Installation Of New Information
System, Revenue Recognition, Convertible Debentures And Doubtful Accounts Receivable.
Case 1-5
This Case Is Adapted From A CPA Canada Case. A Private Company Is Planning To Transition From ASPE To
IFRS. Analysis And Recommendations Are Required For Accounting Issues Related To Convertible Debentures,
Unusual Item, Revenue Recognition, Contingency And Impairment.
