Modern Advanced Accounting In Canada,
10th Edition By Darrell Herauf, Chima
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12,
Com
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, 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
InAthisAcase,AstudentsAareAintroducedAtoAtheAdifferenceAinAaccountingAforAR&DAcostsAbetwee
nAIFRSAandAASPEAandAaskedAtoAprovideAargumentsAtoAsupportAtheAdifferentAstandards.
CaseA1-2A (adaptedAfromAaAcaseApreparedAbyAPeterASecord,ASaintAMary’sAUniversity)
InAthisArealAlifeAcase,AstudentsAareAaskedAtoAdiscussAtheAmeritsAofAhistoricalAcostsAvs.AreplacementA
costs.AActualAnoteAdisclosureAfromAaAcompany’sAfinancialAstatementsAisAprovidedAasAbackgroundA
material.
CaseA1-3A (adaptedAfromAaAcaseApreparedAbyAPeterASecord,ASaintA Mary’sAUniversity)
, AACanadianAcompanyAhasAjustAacquiredAaAnon-
controllingAinterestAinAaAU.S.ApublicAcompany.AItAmustAdecideAwhetherAtoAuseAIFRSAorAU.S.AGAAPAf
orAtheAU.S.Asubsidiary.AFinancialAstatementAinformationAisAprovidedAunderAIFRSAandAU.S.AGAAP.ATh
eAreasonsAforAsomeAofAtheAdifferencesAinAnumbersAmustAbeAexplainedAandAanAopinionAprovidedAa
sAtoAwhichAmethodAbestAreflectsAeconomicAreality.
CaseA1-4
ThisAcaseAisAadaptedAfromAaACPAACanadaAcase.AAAprivateAcompanyAisAplanningAtoAgoApublic.AAnal
ysisAandArecommendationsAareArequiredAforAaccountingAissuesArelatedAtoApurchaseAandAinstallatio
nAofAnewAinformationAsystem,ArevenueArecognition,AconvertibleAdebenturesAandAdoubtfulAaccount
sAreceivable.
CaseA1-5
ThisAcaseAisAadaptedAfromAaACPAACanadaAcase.AAAAAprivateAcompanyAisAplanningAtoAtransitionAfro
mAASPEAtoA IFRS.AAnalysisAandArecommendationsAareArequiredAforAaccountingAissuesArelatedAtoAc
onvertibleAdebentures,A unusualAitem,ArevenueArecognition,AcontingencyAandAimpairment.