“Solution Manual for Modern Advanced Accounting in Canada 10th Edition by Chima Mbagwu & Darrell Herauf – Latest 2025/2026 Update”

SOLUTION MANUAL
Modern Advanced Accounting In Canada,
10th Edition By Darrell Herauf, Chima Mbagwu,
Chapters 1 - 12, Complete

,
, Chapter 1 H




Conceptual & Case Analysis H H H




H Frameworks for Financial Reporting H H H




A brief description of the major points covered in each case and problem.
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CASES
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Case 1-1H



In this case, students are introduced to the difference in accounting for R&D costs between
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IFRS and ASPE and asked to provide arguments to support the different standards.
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Case 1-2 (adapted from a 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
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costs. Actual note disclosure from a company’s financial statements is provided as background
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material.
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Case 1-3 (adapted from a 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
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must decide whether to use IFRS or U.S. GAAP for the U.S. subsidiary. Financial statement
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information is provided under IFRS and U.S. GAAP. The reasons for some of the differences
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in numbers must be explained and an opinion provided as to which method best reflects
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economic reality.
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Case 1-4 H



This case is adapted from a CPA Canada case. A private company is planning to go public.
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Analysis and recommendations are required for accounting issues related to purchase and
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installation of new information system, revenue recognition, convertible debentures and doubtful
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accounts receivable.
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Case 1-5 H



This case is adapted from a CPA Canada case.
H H H H H H H H H H H A private company is planning to transition
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from ASPE to IFRS. Analysis and recommendations are required for accounting issues related
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to convertible debentures, unusual item, revenue recognition, contingency and impairment.
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