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8th Canadian EditionBy Thomas H.Beechy, Joan E. Conrod /
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VerifiedAllChapters(12 -22)Complete
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,Solution Manual for b r b r
Intermediate Accounting Volume 2 8th Edition Thomas H. Beechy,
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Joan E. Conrod, Elizabeth Farrell, Ingrid McLeod-Dick, Kayla Tomulka,
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Romi-Lee Sevel Chapter 12-22
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Chapter 12: Financial Liabilities and Provisions
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Case 12-1 Winter Fun Incorporated br br
12-2 Prescriptions DepotLimited br br
12-3 Camani Corporation br
Suggested Timebr
TechnicalReview br
TR12-1 Financial liabilities and provisions (IFRS) ..............10
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TR12-2 Financial liabilities and provisions (ASPE).............10
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TR12-3 Provision,measurement................................... rb 10
TR12-4 Guarantee.........................................................
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TR12-5 Provision, warranty..........................................
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TR12-6 Foreigncurrency..............................................
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TR12-7 Note payable ....................................................
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TR12-8 Discounting, note payable................................ 10 br br
TR12-9 Discounting,provision..................................... 10 rb
TR12-10 Classification, liabilities...................................
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AssignmentA12-1 rb Financial versus non-financial liabilities…….br br br 10
A12-2 Common financial liabilities………………… br br 10
A12-3 Common financial liabilities............................
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A12-4 Common financial liabilities: taxes .................
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A12-5 Common financial liabilities: taxes ................
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A12-6 Foreign currencypayables……………………. br br 10
A12-7 Foreign currencypayables ...............................
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A12-8 Common financial liabilities and foreign br br br br 25
currency
A12-9 Provisions......................................................... 20
A12-10 Provisions ........................................................
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A12-11 Provisions......................................................... 20
A12-12 Provisionmeasurement....................................
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A12-13 Provisionmeasurement....................................
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A12-14 Provisions;compensatedabsences…………... br br 15
A12-15 Provisions;compensated absences.................. br br br 15
A12-16 Provisions;warranty........................................ br rb 15
A12-17 Provisions; warranty ....................................... br b r 20
A12-18 Provisions; warranty ....................................... br b r 25
A12-19 Discounting;no-interest note........................... br br 15
Solutions Manual to accompany Intermediate Accounting, Volume 2, 8th edition
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, A12-20 Discounting; low-interest note ........................ br br br 20
A12-21 Discounting; low-interest note......................... br br 20
A12-22 Discounting; provision..................................... br 15
A12-23 Discounting; provision..................................... br 25
A12-24 Discounting; provision..................................... br 25
A12-25 Classification and SCF..................................... br br 20
A12-26 SCF .................................................................. br 20
A12-27 Liabilities – IFRS and ASPE .......................... br br br br b r 10
A12-28 Liabilities - ASPE ........................................... br br b r 20
A12-29 Liabilities - ASPE............................................ br br br 20
A12-30 Provisions/Contingencies – IFRS and ASPE….
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A12-31 DAIS – warranty provision trend……………... br br br br 15
A12-32 DAIS – provision for coupon refund………… br br br br br 15
Cases
Case 12-1 (LO12.3, LO12.5, LO12.6)
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Winter Fun Incorporated br br
To:MembersofBoard of Directors
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From: Accounting Consultant
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RE: Winter Fun Incorporated
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Overview
Winter Fun Incorporated (WFI) uses IFRS for financial reporting. The bank loan has
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b a minimum current ratio so you will need to be careful and watch for any impacts on
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bthe ratio. You have had a tough year this year and faced a loss so the bank
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financing is critical to your operations.
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Issues
1. Revenuerecognitionmemberships br br
2. Revenuerecognition guests br br
3. Special promotions br
4. Coupons
5. ManufacturerLoan br
6. Lawsuit
7. Warranty
8. Gasoline storage tanks br br
9. Foreigncurrencypayables br br
10. Compensatedabsences br
, ©2022McGrawHillLtd.Allrightsreserved.
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Solutions Manual to accompany Intermediate Accounting, Volume 2, 8th edition
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