How recording assets, liabilities, provisions and foreign exchange transactions in the books of mining companies different when compared to manufacturing companies ?
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How recording assets, liabilities, provisions and foreign exchange transactions in the books of mining companies different when compared to manufacturing companies ?
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- How mining industries record the assets, liabilities, provisions and foreign exchange transactions in their books? How recording these transactions is different when compared to manufacturing companiesHow assets, liabilities, provisions and foreign exchange transactions are recorded in the books of manufacturing companies ?How mining industries record the assets, liabilities, provisions and foreign exchange transactions in their books?
- What accounting issues arise for a company as a result of engaging in international trade (imports and exports)?What type of firms or businesses under industry membership and asset size?What are the acceptable methods of accounting for business operations in a foreign country? Choose a publicly-traded company that operates internationally and identify the impact that the foreign operations have on the financial statements. Explain.
- Functional currency is the currency that influences sales price, labour, material and other costs of a company’s goods and services. (a) Explain factors that should also be considered to determine the functional currency of a foreign operation. (b) Explain what will happen if a business transaction is denominated in foreign currency but reported in functional currency.How does the accounting treatment differ for exploration and development costs in extractive activities? Explain the significance of these accounting distinctions and their impact on financial reporting for companies engaged in extractive industries.Using practical examples describe how International Accounting Standard 23 would apply to Assets in your company?
- How does accounting theory address the challenges and complexities of multinational corporations, including issues related to currency translation, transfer pricing, and global financial reporting standards?How do German firms use accounting reservesWhich of the following is true regarding GAAP and IFRS? None of the answers are correct. GAAP and IFRS require specific information be presented in the financial statements for U.S. and international companies. GAAP and IFRS require specific terminology be used in the financial statements. GAAP and IFRS determine the financial reporting requirements for specialized companies in a limited number of industries. GAAP and IFRS are not similar in their reporting requirements.