Derecognition Study guides, Class notes & Summaries

FAC3702 - Assignment 1 Suggested solution Question 1 FUN & GAMES LIMITED NOTES FOR THE YEAR ENDED 30 JUNE 2013 1. Profit before tax Income Fair value adjustment 1,605,000 Rental income 75,000 Profit on exchange of asset 25,000 Expenses Depreciation 90,741 Direct operating expense wrt investment property 27,500 2. Property, plant and equipment Land Buil...

Exam (elaborations) TEST BANK Advanced Accounting Part 2 ZEUS VERNON B. MILLAN 2015 Edition TEST BANK Advanced Accounting Part 2 ZEUS VERNON B. MILLAN ii ALL RIGHTS RESERVED 2015 No part of this work covered by the copyright hereon may be reproduced or used in any form or by any means - electronic or mechanical, including photocopying – without the written permission of the author. ISBN 978-621-95096-5-7 Published by: BANDOLIN ENTERPRISE No. 100 Montebello Village, Bakakeng Sur, B...

Property, plant and equipment (PPE) constitutes a significant portion of the total assets of a company. It is therefore very important to keep proper records of the PPE items and to account for them accurately in the financial statements. The aim of this study is to investigate the accounting treatment for property, plant and equipment. Then the results must be analysed to discuss the international critique with respect to the standard. This study also aims to give recommendations on how the sta...

Evaluated CFAs Revision Questions Which statement is incorrect regarding the Conceptual Framework for Financial Reporting? A. Describes the objective of, and the concepts for, general purpose financial reporting B. Serves as a guide in developing future PFRSs and as a guide to resolving accounting issues that are not addressed directly in existing PFRSs C. Is not a PFRS and hence does not define standards for any particular measurement or disclosure nature D. Prevails in cases where t...

this document is a complete and concise summary on how to do complex PPE questions. It contains many examples with step by step guidance on how to do the calculations

Exam (elaborations) TEST BANK Advanced Accounting Part 2 (2015 Edition) ZEUS VERNON B. MILLAN BANK Advanced Accountin g Part 2 ZEUS VERNON B. MILLAN ALL RIGHTS RESERVED 2015 No part of this work covered by the copyright hereon may be reproduced or used in any form or by any means - electronic or mechanical, including photocopying – without the written permission of the author. ISBN 978-621-95096-5-7 Published by: BANDOLIN ENTERPRISE No. 100 Montebello Village, Bakakeng Sur...

Which ONE of the following statements best describes 'residual value'? 1. The estimated net amount currently obtainable if the asset were at the end of its useful life 2. The present value of estimated future cash flows expected to arise from the continuing use of the asset and from its ultimate disposal 3. The amount at which the asset could be exchanged between knowledgeable, willing parties in an arm's length transaction 4. The amount of cash or cash equivalents that could currently ...

Exam elaborations with questions and answers at the third-year level on IAS 16 with regards to property plant and equipment for an individual to practically understand the nuances and challenges of IFRS 16 and how this would work..

CPA BOARD QUESTIONS - Theory of Accounts General-purpose financial statements are the product of; a. financial accounting b. managerial accounting c. both financial and managerial accounting d. neither financial accounting nor managerial accounting -[Ans A Which of the following statements is NOT an objective of financial reporting? a. To provide information that is useful in investment and credit decisions. b. To provide information about resources, claims against those resources and ch...

FAC3702/501/3/2021 Tutorial letter 501/3/2021 Distinctive Financial Reporting FAC3702 Semesters 1 & 2 Department of Financial Accounting FAC3702/501/3/2021 2 CONTENTS INTRODUCTION iv LECTURERS AND CONTACT DETAILS iv LEARNING UNIT 1 – PROPERTY, PLANT AND EQUIPMENT 2 LEARNING UNIT 2 – INVESTME...