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unting in Canada,10th Edition By Darrell Herauf, Ch
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ima Mbagwu, Chapters 1 - 12, Complete
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,
, Chapter 1 re
Conceptual & Case Analysis Framewor
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ks for Financial Reporting
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A brief description of the major points covered in each case and problem.CAS
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ES
Casere1-1
Inrethisrecase,restudentsrearereintroducedretoretheredifferencereinreaccountingreforreR&Drecostsrebetweenre
IFRSreandreASPEreandreaskedretoreprovidereargumentsretoresupportretheredifferentrestandards.
Casere1-2r e (adaptedrefromrearecaserepreparedrebyrePeterreSecord,reSaintreMary’sreUniversity)
Inrethisrerealreliferecase,restudentsrearereaskedretorediscussretheremeritsreofrehistoricalrecostsrevs.rereplacementrec
osts.reActualrenoteredisclosurerefromrearecompany’srefinancialrestatementsreisreprovidedreasrebackgroundrema
terial.
Casere1-3r e (adaptedrefromrearecaserepreparedrebyrePeterreSecord,reSaintr e Mary’sreUniversity)
, AreCanadianrecompanyrehasrejustreacquiredrearenon-
controllingreinterestreinreareU.S.republicrecompany.reItremustredeciderewhetherretoreusereIFRSreorreU.S.reGAA
PreforrethereU.S.resubsidiary.reFinancialrestatementreinformationreisreprovidedreunderreIFRSreandreU.S.reGA
AP.reTherereasonsreforresomereofretheredifferencesreinrenumbersremustrebereexplainedreandreanreopinionreprovi
dedreasretorewhichremethodrebestrereflectsreeconomicrereality.
Casere1-4
ThisrecasereisreadaptedrefromreareCPAreCanadarecase.reAreprivaterecompanyreisreplanningretoregorepublic.reAna
lysisreandrerecommendationsrearererequiredreforreaccountingreissuesrerelatedretorepurchasereandreinstallationr
ofrenewreinformationresystem,rerevenuererecognition,reconvertibleredebenturesreandredoubtfulare ccountsrerec
e
eivable.
Casere1-5
ThisrecasereisreadaptedrefromreareCPAreCanadarecase.rerereAreprivaterecompanyreisreplanningretoretransitionrefro
mreASPEretor e IFRS.reAnalysisreandrerecommendationsrearererequiredreforreaccountingreissuesrerelatedretore
convertibleredebentures,re unusualreitem,rerevenuererecognition,recontingencyreandreimpairment.