IFRS 9 Financial Instruments (AASB 9) was issued to replace IAS 39 (AASB 139) Discuss critically the shortcomings and criticisms of IAS 39 (AASB 139) which have given rise to IFRS 9 (AASB 9). How will the application of IFRS 9 (AASB 9) impact on the accounting for financial instruments in financial reports? Your discussion should be illustrated and informed by reference to two listed companies (ASX or other sources for the most recent years)‚ that are either using IAS 39 (AASB 139) or that have
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Exercise 6-1 Part A (1) Sales 2‚700‚000 Purchases (Cost of Goods Sold) 2‚700‚000 To eliminate intercompany sales of 2011 (2) 12/31 Inventory-Income Statement (Cost of Goods Sold) 487‚500 12/31 Inventory (Balance Sheet) 487‚500 To eliminate unrealized intercompany profit in inventory Exercise 6-2 Reported Net Income- S Company $ 525‚000 Noncontrolling Interest Percentage 0
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Chapters 9-11 Review Questions Chapter 11 1. Describe the current tax law for sale of residence. Married taxpayers may exclude up to $500‚000 of gain upon the sale of their residence and single taxpayers may exclude up to $250‚000 of their gain. Taxpayers must own and occupied the residence for two out of the last five years prior to the sale. The exclusion applies to only one sale or exchange every two years. 2. Why might a taxpayer wish to elect out of the new exclusion on the sale of residence
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Begin at 4:30 Daughters working for wages (what does that do in terms of family life?) Daughters do a lot of chores‚ so brother can study Creates many opportunities Women are working outside and bringing money back into household Changes in authority in household Working sisters over brothers‚ sisters in control Working daughter & mother decide how to spend money Employing a female work force Microchip assembly is done by all women Keep wages low‚ avoid benefits‚ etc. Wage
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9-Step Problem Solving Model Scenario One Reflection Paper This paper discusses the effectiveness‚ challenges‚ and application of the 9-Step Problem Solving Model with respect to the scenario involving USAuto and AutoMex. The effectiveness of USAuto’s attempt demonstrates the importance of correctly following each step of the model to obtain maximum success. Effectively applying the 9-step model shows faults that USAuto made during their initial problem-solving attempt. We also discuss challenges
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2a) a) Increasing the difference between the sample mean and the original. The z score represents the distance of each X or score from the mean. If the distance between the sample mean and the population mean the z score will increase. b) Increasing the population standard deviation. The standard deviation is the factor that is used to divide by in the equation. the bigger the SD‚ then the smaller the z score. c) Increasing the number of scores in the sample. Should bring the samples mean
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Question Number Your Answer Answer Reference 1. B Correct 2. D Correct 3. C Correct 4. A Correct 5. A Correct 6. B Correct 7. D Correct 8. D Correct 9. C Correct 10. A Correct 11. B A PAGE 35 12. B A PAGE 28 13. B Correct 14. A B PAGES 13-14 15. B C PAGE 7 16. D Correct 17. D Correct 18. A Correct
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weighted-average method‚ prior period costs are not combined with current period costs. F 8. The "costs to be accounted for" portion of the cost reconciliation report includes the cost of ending work in process inventory and the costs added during the period. F 9. The "costs accounted for" portion of the cost reconciliation report includes the cost of beginning work in process inventory and the costs added to production during the period. F 10. Incremental analysis is generally the most complicated and least
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Chapter 6 Cost-Volume-Profit Relationships Solutions to Questions 6-1 The contribution margin (CM) ratio is the ratio of the total contribution margin to total sales revenue. It can be used in a variety of ways. For example‚ the change in total contribution margin from a given change in total sales revenue can be estimated by multiplying the change in total sales revenue by the CM ratio. If fixed costs do not change‚ then a dollar increase in contribution margin will result in a dollar
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statements about managerial accountants is false? A. Managerial accountants more and more are considered "business partners." B. Managerial accountants often are part of cross-functional teams. C. An increasing number of organizations are segregating managerial accountants in separate managerial-accounting departments. D. In a number of companies‚ managerial accountants make significant business decisions and resolve operating problems. E. The
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