SOLUTION MANUAL# tt # tt
Modern Advanced Accounting In Canada,
#tt #tt #tt #tt
tt
,
, Chapter 1 #
Conceptual & Case Analysis Framewor # # # #
ks for Financial Reporting
# # #
A brief description of the major points covered in each case and prob
# # # # # # # # # # # #
lem.CASES
Case# 1-1
In#this#case,#students#are#introduced#to#the#difference#in#accounting#for#R&D#costs# betwee
n#IFRS#and#ASPE#and#asked#to#provide#arguments#to#support#the#different#standards.
Case# 1-2# # (adapted# from# a# case# prepared# by# Peter# Secord,# Saint# Mary’s# University)
In# this# real# life# case,# students# are# asked# to# discuss# the# merits# of# historical# costs# vs.#replace
ment# costs.# Actual# note# disclosure# from# a# company’s# financial# statements# is# provided# as# ba
ckground# material.
Case# 1-3# # # (adapted# from# a# case# prepared# by# Peter# Secord,# Saint# Mary’s# University)
, A# Canadian# company# has# just# acquired# a# non-
controlling# interest# in# a# U.S.# public#company.# It# must# decide# whether# to# use# IFRS# or# U.S.#
GAAP# for# the# U.S.# subsidiary.# Financial# statement# information# is# provided# under# IFRS# and# U
.S.# GAAP.# The# reasons# for#some# of# the# differences# in# numbers# must# be# explained# and# an# o
pinion# provided# as# to#which# method# best# reflects# economic# reality.
Case# 1-4
This# case# is# adapted# from# a# CPA# Canada# case.# A# private# company# is# planning# to# go#p
ublic.# Analysis# and# recommendations# are# required# for# accounting# issues# related# to#purchase
# and#installation#of#new#information#system,#revenue#recognition,#convertible#debentures# and# d
oubtfulaccounts# receivable.
Case# 1-5
This# case# is# adapted# from# a# CPA# Canada# case.# # A# private# company# is# planning# to#transitio
n# from# ASPE# to# # IFRS.# Analysis# and# recommendations# are# required# for#accounting#issue
s#related#to#convertible#debentures,#unusual#item,#revenue#recognition,#contingency# and# impair
ment.
Modern Advanced Accounting In Canada,
#tt #tt #tt #tt
tt
,
, Chapter 1 #
Conceptual & Case Analysis Framewor # # # #
ks for Financial Reporting
# # #
A brief description of the major points covered in each case and prob
# # # # # # # # # # # #
lem.CASES
Case# 1-1
In#this#case,#students#are#introduced#to#the#difference#in#accounting#for#R&D#costs# betwee
n#IFRS#and#ASPE#and#asked#to#provide#arguments#to#support#the#different#standards.
Case# 1-2# # (adapted# from# a# case# prepared# by# Peter# Secord,# Saint# Mary’s# University)
In# this# real# life# case,# students# are# asked# to# discuss# the# merits# of# historical# costs# vs.#replace
ment# costs.# Actual# note# disclosure# from# a# company’s# financial# statements# is# provided# as# ba
ckground# material.
Case# 1-3# # # (adapted# from# a# case# prepared# by# Peter# Secord,# Saint# Mary’s# University)
, A# Canadian# company# has# just# acquired# a# non-
controlling# interest# in# a# U.S.# public#company.# It# must# decide# whether# to# use# IFRS# or# U.S.#
GAAP# for# the# U.S.# subsidiary.# Financial# statement# information# is# provided# under# IFRS# and# U
.S.# GAAP.# The# reasons# for#some# of# the# differences# in# numbers# must# be# explained# and# an# o
pinion# provided# as# to#which# method# best# reflects# economic# reality.
Case# 1-4
This# case# is# adapted# from# a# CPA# Canada# case.# A# private# company# is# planning# to# go#p
ublic.# Analysis# and# recommendations# are# required# for# accounting# issues# related# to#purchase
# and#installation#of#new#information#system,#revenue#recognition,#convertible#debentures# and# d
oubtfulaccounts# receivable.
Case# 1-5
This# case# is# adapted# from# a# CPA# Canada# case.# # A# private# company# is# planning# to#transitio
n# from# ASPE# to# # IFRS.# Analysis# and# recommendations# are# required# for#accounting#issue
s#related#to#convertible#debentures,#unusual#item,#revenue#recognition,#contingency# and# impair
ment.
