Instructor’s Solution Manual for International Financial Reporting, 8th edition By Alan Melville 2024 | All Chapters A+

Instructor’s Solution Manual for International Financial Reporting, 8th edition By Alan Melville 2024 | All Chapters A+Contents Preface v Acknowledgements vi Chapter 1 The regulatory framework Solutions 1.8 and 1.9 1 Chapter 2 The IASB® conceptual framework Solutions 2.7 and 2.8 3 Chapter 3 Presentation of financial statements Solution 3.7 5 Chapter 4 Accounting policies, estimates and errors Solution 4.7, 4.8 and 4.9 8 Chapter 5 Property, plant and equipment Solutions 5.7 and 5.8 10 Chapter 6 Intangible assets Solutions 6.8 and 6.9 13 Chapter 7 Impairment of assets Solutions 7.7 and 7.8 15 Chapter 8 Non-current assets held for sale and discontinued operations Solution 8.7 16 Chapter 9 Leases Solutions 9.7 and 9.8 17 Chapter 10 Inventories Solutions 10.5 and 10.6 19 Chapter 11 Financial instruments Solution 11.6 21 Chapter 12 Provisions and events after the reporting period Solution 12.8 23 Chapter 13 Revenue from contracts with customers Solutions 13.7 and 13.8 24 Chapter 14 Employee benefits Solutions 14.6 and 14.7 26 Chapter 15 Taxation in financial statements Solutions 15.7, 15.8 and 15.9 28 Chapter 16 Statement of cash flows Solutions 16.8, 16.9 and 16.10 34 Chapter 17 Financial reporting in hyperinflationary economies Solution 17.5 39 Chapter 18 Groups of companies (1) Solutions 18.6 and 18.7 40 Chapter 19 Groups of companies (2) Solutions 19.5 and 19.6 45 Chapter 20 Associates and joint arrangements Solution 20.5 51 Chapter 21 Related parties and changes in foreign exchange rates Solution 21.4 53 Chapter 22 Ratio analysis Solutions 22.5, 22.6 and 22.7 54 Chapter 23 Earnings per share Solutions 23.6, 23.7, 23.8 and 23.9 59 Chapter 24 Segmental analysis Chapter 1 The regulatory framework 1.8 The advantages of adopting IFRS® Accounting Standards might include: (a) Application of the international standards should ensure that the company's financial statements provide high-quality, transparent and comparable information. This should help investors, lenders and other users of the financial statements to make sound economic decisions. If potential investors and lenders feel that they can trust Baxen's financial statements, this should make it easier for the company to raise fresh capital in the form of share issues or borrowings. (b) Furthermore, adoption of IFRS should allow Baxen to obtain a listing on stock exchanges around the world, most of which now require listed companies to comply with international standards. This would also provide new opportunities for raising capital. (c) Many of the foreign companies with which Baxen trades will also use IFRS. This should help Baxen to compare its own financial statements with theirs and perhaps to identify foreign companies that might be suitable candidates as prospective subsidiaries. Baxen would also be able to compare its own financial statements much more easily with those of its competitors. (d) Once Baxen has subsidiaries, it will need to prepare group accounts. This involves combining all of the financial statements of the group members into a single set of consolidated financial statements (see Chapter 18). This task will be a great deal easier (and cheaper) if all of the companies in the group are applying the same financial reporting standards. There would also be less work for the group's auditors to do, so that the audit fee should be lower. (e) Within the group, the use of consistent standards would make it easier to assess each subsidiary's performance and to compare subsidiaries with each other. (f) Accounting staff working for the Baxen group would all become familiar with the international standards and would not need retraining if they moved around the group from one company to another. This would certainly reduce staff training costs.