Financial Report 2011 Financial Report 2011 Financial Report 2011 - 1 2 Financial Report 2011 - 1 Consolidated Financial Statements Management’s discussion and analysis year ended December 31‚ 2011 Consolidated Financial Statements year ended December 31‚ 2011 Notes Statutory Auditors’ report on the Consolidated Financial Statements 4 19 25 108 Financial Report 2011 - 3 1 Consolidated Financial Statements Management’s discussion and analysis year ended December 31
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differences between IFRS and Canadian GAAP. In this issue‚ consolidation and business combinations will be presented‚
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CHAPTER 3 CONSOLIDATIONS—SUBSEQUENT TO THE DATE OF ACQUISITION Answers to Discussion Questions How Does a Company Really Decide which Investment Method to Apply? Students can come up with literally dozens of factors that should be considered by Pilgrim in making the decision as to the method of accounting for its subsidiary‚ Crestwood Corporation. The following is simply a partial list of possible points to consider. Use of the information. If Pilgrim does not monitor its own income levels
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It is well established that a vibrant and balanced financial system plays key role in promoting economic efficiency‚ achieving higher economic growth and stabilizing the economy. An efficient financial system not only reduces uncertainty and transactions costs‚ but also provides a more investor-friendly environment and promotes a better allocation of resources for investment. In contrast‚ regulated financial systems lead to underdeveloped and uncompetitive markets. A weak and inefficient financial
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| |2. (TCO B) Lewis Co. paid cash for all of the voting common stock of Pastini Corp. Pastini will continue to exist as a separate | |corporation. Consolidation entries for the business combination of Lewis and Pastini would be recorded in (Points
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Brighten are U.S.-based companies with their functional currency being the American dollar. Sparkle Companies functional currency is that of Nigeria‚ being the Naira. During 2009‚ Sparkle had several transactions with its joint venture owners and outside parties. The details of Sparkle’s transactions are three loans‚ three expenditures‚ and one revenue stream. The loans the company took out were $1 million from Brighten‚ $1 million from Shine‚ and 300 million Naira from a local Nigerian bank. The
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valued using the fair-value-based method (FASB‚ n.d). According to FASB 123(R) (n.d.) “By requiring the fair-value-based method for all public entities‚ this Statement eliminates an alternative accounting method; consequently‚ similar economic transactions will be accounted for similarly” (para. 4). Special purpose entities or SPEs are defined by Crawford and Fredericks (2003) as “A separate legal structure created by a firm to provide liquidity and/or obtain favorable external funding” (para. 4)
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recording‚ classifying‚ and summarizing in a significant manner and in terms of money‚ transactions and events which are‚ in part at least‚ of financial character‚ and interpreting the results thereof.(AICPA) * the universal language used by businesses to communicate economic information to the users of such information. Accountancy therefore encompasses the recording‚ classification‚ and summarizing of transactions and events in a manner that helps its users to assess the financial performance and
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CHAPTER 2 REPORTING INTERCORPORATE INVESTMENTS AND CONSOLIDATION OF WHOLLY OWNED SUBSIDIARIES WITH NO DIFFERENTIAL ANSWERS TO QUESTIONS Q2-1 (a) An investment in the voting common stock of another company is reported on an equity-method basis when the investor is able to significantly influence the operating and financial policies of the investee. (b) The cost method normally is used for investments in common stock when the investor does not have significant influence and for investments
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Fill in the Blank Questions 1. (p. 2) People ____________ all the time. negotiate 2. (p. 3) The term ____________ is used to describe the competitive‚ win-lose situations such as haggling over price that happens at yard sale‚ flea market‚ or used car lot. bargaining 3. (p. 6) Negotiating parties always negotiate by __________. choice 4. (p. 6‚ 7) There are times when you should _________ negotiate. not 5. (p. 8) Successful negotiation involves the management of ____________ (e
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