SOLUTION MANUAL d d
Modern Advanced Accounting In Canada,
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10thEditionBy Darrell Herauf, Chima Mbagwu,
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Chapters 1 - 12, Complete
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,
, Chapter 1 d
Conceptual &Case Analysis d d d
FrameworksforFinancialReporting
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A brief description of the major points covered in each case and problem.CASES
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Case 1-1 d
In this case, students are introduced to the difference in accounting for R&D costs betweenIFRS and
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ASPE and asked to provide arguments to support the different standards.
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Case 1-2 (adapted froma case prepared by Peter Secord, Saint Mary’s University)
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In this real life case, students are asked to discuss the merits of historical costs vs. replacement costs. Actual
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note disclosure from a company’s financial statements is provided as background material.
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Case 1-3 (adapted froma case prepared by Peter Secord, Saint Mary’s University)
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, A Canadian company has just acquired a non-controlling interest in a U.S. public company. It must decide
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whether to use IFRS or U.S. GAAP for the U.S. subsidiary. Financial statement information is provided
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under IFRS and U.S. GAAP. The reasons for some of the differences in numbers must be explained and an
d d d d d d d d d d d d d d d d d d d
opinion provided as to which method best reflects economic reality.
d d d d d d d d d d
Case 1-4 d
This case is adapted from a CPA Canada case. A private company is planning to go public. Analysis and
d d d d d d d d d d d d d d d d d d
recommendations are required for accounting issues related to purchase and installation of new
d d d d d d d d d d d d d
information system, revenue recognition, convertible debentures and doubtfulaccounts receivable.
d d d d d d d d d d
Case 1-5 d
This case is adapted from a CPA Canada case. A private company is planning to transition from ASPE to
d d d d d d d d d d d d d d d d d d d d
d IFRS. Analysis and recommendations are required for accounting issues related to convertible
d d d d d d d d d d d
debentures, unusual item, revenue recognition, contingencyand impairment.
d d d d d d d d
Modern Advanced Accounting In Canada,
d d d d
10thEditionBy Darrell Herauf, Chima Mbagwu,
d d d d d d
Chapters 1 - 12, Complete
d d d d d
,
, Chapter 1 d
Conceptual &Case Analysis d d d
FrameworksforFinancialReporting
d d d d
A brief description of the major points covered in each case and problem.CASES
d d d d d d d d d d d d d
Case 1-1 d
In this case, students are introduced to the difference in accounting for R&D costs betweenIFRS and
d d d d d d d d d d d d d d d d
ASPE and asked to provide arguments to support the different standards.
d d d d d d d d d d d
Case 1-2 (adapted froma case prepared by Peter Secord, Saint Mary’s University)
d d d d d d d d d d d d
In this real life case, students are asked to discuss the merits of historical costs vs. replacement costs. Actual
d d d d d d d d d d d d d d d d d d
note disclosure from a company’s financial statements is provided as background material.
d d d d d d d d d d d d
Case 1-3 (adapted froma case prepared by Peter Secord, Saint Mary’s University)
d d d d d d d d d d d d
, A Canadian company has just acquired a non-controlling interest in a U.S. public company. It must decide
d d d d d d d d d d d d d d d d
whether to use IFRS or U.S. GAAP for the U.S. subsidiary. Financial statement information is provided
d d d d d d d d d d d d d d d d
under IFRS and U.S. GAAP. The reasons for some of the differences in numbers must be explained and an
d d d d d d d d d d d d d d d d d d d
opinion provided as to which method best reflects economic reality.
d d d d d d d d d d
Case 1-4 d
This case is adapted from a CPA Canada case. A private company is planning to go public. Analysis and
d d d d d d d d d d d d d d d d d d
recommendations are required for accounting issues related to purchase and installation of new
d d d d d d d d d d d d d
information system, revenue recognition, convertible debentures and doubtfulaccounts receivable.
d d d d d d d d d d
Case 1-5 d
This case is adapted from a CPA Canada case. A private company is planning to transition from ASPE to
d d d d d d d d d d d d d d d d d d d d
d IFRS. Analysis and recommendations are required for accounting issues related to convertible
d d d d d d d d d d d
debentures, unusual item, revenue recognition, contingencyand impairment.
d d d d d d d d
