SOLUTION MANUAL
Modern Advanced Accounting In Canada,
10th Edition By Darrell Herauf, Chima
Mbagwu,
Chapters 1 - 12, Complete
,
, 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
In this case, students are introduced to the difference in accounting for R&D costs
between 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.
replacement costs. Actual note disclosure from a company’s financial statements is provided
as background 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 opinion 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 public.
Analysis and recommendations are required for accounting issues related to purchase and
installation of new information system, revenue recognition, convertible debentures and
doubtfulaccounts receivable.
Case 1-5
This case is adapted from a CPA Canada case. A private company is planning to transition
from ASPE to IFRS. Analysis and recommendations are required for accounting issues
related to convertible debentures, unusual item, revenue recognition, contingency and
impairment.
Modern Advanced Accounting In Canada,
10th Edition By Darrell Herauf, Chima
Mbagwu,
Chapters 1 - 12, Complete
,
, 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
In this case, students are introduced to the difference in accounting for R&D costs
between 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.
replacement costs. Actual note disclosure from a company’s financial statements is provided
as background 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 opinion 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 public.
Analysis and recommendations are required for accounting issues related to purchase and
installation of new information system, revenue recognition, convertible debentures and
doubtfulaccounts receivable.
Case 1-5
This case is adapted from a CPA Canada case. A private company is planning to transition
from ASPE to IFRS. Analysis and recommendations are required for accounting issues
related to convertible debentures, unusual item, revenue recognition, contingency and
impairment.
