Working Papers, Chapters 1-17 for Warren/Reeve/Duchac's Accounting, 26th and Financial Accounting, 14th
26th Edition
ISBN: 9781305392373
Author: Carl Warren, Jim Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Chapter 15FSI, Problem 1IFRS
(a)
To determine
Revenue: Revenue is the earnings from operations of a business. The operating activities are sale of goods and services, and rent revenue.
To explain: The meaning of ‘turnover’ reported in the consolidated income statement
(b)
To determine
To explain: The differences in the presentation of income statement of Group U and MJ International
(c)
To determine
Generally Accepted Accounting Principles (GAAP): These are the guidelines necessary to create accounting principles for the implementation of financial information reporting in the Country U.
To explain: The presentation of net finance costs’ subtotal at the top of the column than that would be presented under GAAP
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\table[[Current assets, %,.71.1%
Chapter 15FSI Solutions
Working Papers, Chapters 1-17 for Warren/Reeve/Duchac's Accounting, 26th and Financial Accounting, 14th
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