Explain the accounting for loss carryforwards.

Q: Distinguish between losses from transaction exposure, operating exposure, and translation exposure?…

A: Investors get into contract for the future as well as the current transactions. The company will be…

Q: Define net operating loss.

A: For income tax purposes, a net operating loss (NOL) is the result when a company's allowable…

Q: Depreciation measurement should be based on

A: Depreciation expense is a charge against the profit that is reported on the income statement of the…

Q: Distinguish between losses from transaction exposure, operating exposure, and translation exposure?…

A: The Answer :

Q: Describe the types of depreciation methods.

A:

Q: Write the definition, recognition, measurement and derecognition of Impairment of assets.

A: IFRS nine money Instruments gave on twenty four July 2014 is that the IASB's substitution of IAS…

Q: Explain the conditions under which assets and liabilities are derecognized

A: The answer for the theory question on the conditions under which assets and liabilities are…

Q: at is the difference between depreciation and im

A: Depreciation: Depreciation is an accounting methodology of allocating the price of a tangible or…

Q: Explain how losses on intangible assets that are impaired should be recorded in income.

A: When the carrying amount of the asset is less than the recoverable Amount it should be provided for…

Q: What is the impairment loss to be allocated to the equipment?

A: An impaired loss is the loss which results to the asset of the company as a result that the market…

Q: Define misappropriation of assets and give two examples of misappropriation of assets.

A: Asset: It represents the resources that are owned by the business.

Q: Find the FASB ASC reference that explains how to measure an asset's impairment loss.

A: ASC- 360 provides guidance on accounting for the impairment or disposal of long-lived assets. The…

Q: What is the total loss on realization of assets?

A: Loss that is recognized when the assets are sold for a price is lower than the original purchase…

Q: Explain the accounting for loss carrybacks and loss carryforwards.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: How does Target record repairs and maintenance expense?

A: Revenue expenditures:   These costs are incurred to maintain the long-term asset in good condition…

Q: Explain the accounting for gain and loss ­contingencies.

A: Contingencies:   Contingency is a situation where the outcome becomes uncertain and is resolved in…

Q: Define asset impairments.

A: Property, Plant, and Equipment:   Property, Plant, and Equipment refers to the fixed assets, having…

Q: items into normal loss or abnormal loss.

A: Normal loss occurs naturally and cannot be avoided during manufacturing process. Abnormal loss…

Q: WHAT IS FUNCTIONAL OBSOLECENSE OF ASSETS?

A: Functional obsolescence of assets is discussed hereunder : The term ' Obsolescence' refers to…

Q: Explain Treatment of Depreciation Expenses?

A: Depreciation is the total charging of the cost of an asset over its normal valuable life. The method…

Q: Explain the term Treatment of Depreciation Expenses?

A: Depreciation is a charge calculated on the value of fixed assets, based on normal wear and tear due…

Q: Provide an explanation of how losses on damaged intangible assets should be recorded in income

A: Intangible Assets are those that cannot be quantified. An intangible asset is a positive name and…

Q: When are loss contingencies recorded?

A: Definition:   Contingent liability: This is an uncertain obligation which might be incurred on a…

Q: differences in the accounting treatments of depreciation and cost depletion.

A:

Q: Determine an asset's depreciable life?

A: A tangible asset is a substantial resource. Tangible resources incorporate fixed resources including…

Q: List and briefly describe the three categories of likelihood that a future event(s) will confirm the…

A: Loss contingency: Loss contingency is contingency where existing situation or circumstances where…

Q: why is there a need to re evaluate impairment of assets due to trigger events?

A: The impairment refers to the decrease in the value of assets of the company. This reduction is…

Q: Define a loss contingency. Provide three examples

A: Loss Contingency:   It is a form of contingency where an existing situation or circumstance where…

Q: on remeasurement nvestment is

A: Given as, To find the gain on the investment as,

Q: Explain how losses on impaired intangible assets shouldbe reported in income.

A: Intangible Assets: An intangible asset refers to the good name and reputation of an organization…

Q: List (a) the similarities and (b) the differences in the accounting treatments of depreciation and…

A: (a) The following are the similarities in the accounting treatment of depreciation and cost…

Q: What is the total loss on realization of noncash assets?

A: Noncash assets are assets that would not be easily converted into cash by the company.

Q: A provision of % should be made on loss assets

A: A loss asset is an asset that remains as a non-performing asset(NPA) for more than 36 months.

Q: How to calculate operating loss?

A: A net operating loss is occurred when the gross deductions are more than its total income of the…

Q: ide a

A: As per the IAS 36 Impairment of asset we need to identify the asset that may be impaired and for…

Q: Difference between depreciation and depletion.

A: Depreciation: Depreciation is the loss in the value of the asset caused due to its usage, wear, and…

Q: Define Impairment Losses.

A: Impairment loss: An impairment loss is an expense reported on the income statement, it is the…

Q: What disclosure is required for a probable loss contingency?

A: Contingent liability: This is an uncertain obligation which might be incurred on a future date as a…

Q: Define depletion and compare it with depreciation.

A: Definition:   Depreciation: Depreciation refers to the reduction in the monetary value of a fixed…

Q: .    In determining the amount of a provision, a company using IFRS should generally measure: a.…

A: An economic obligation created and maintained to cover the future liability is termed as provisions.…

Q: Actuarial (Remeasurement) gains and losses are reported as OCI as they occur using a. U.S. GAAP. b.…

A: Both US GAAP and IFRS requires to record acturial gains or losses through other comprehensive income…

Q: What is the main function of depreciation accounting?

A: Depreciation is the estimated consumption of fixed assets that are recognized in the income…