Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
20 Cards in this Set
- Front
- Back
|
equity security do not include |
preferred stock treasury stock convertible bonds |
|
|
under IFRS foreign exchange gain or losses for AFS |
debt-securities are reported in net income equity-securities are reported in AOCI |
|
|
impairment for AFS and HTM other than temporary write down to I/S |
No subsequent recovery for HTM Subsequent recovery not other than temporary goes to OCI |
|
|
Under IFRS impairment is write down by |
1. reducing the cost basis 2. through the use of a valuation allowance |
|
|
Under IFRS AFS and HTM reversal can be recognized on income statement |
HTM cannot exceed amortized cost of the security |
|
|
available for sale and hold to maturity must be discloused |
in financial statement or in the notes |
|
|
cost method aka fair value method or AFS method |
less than 20% |
|
|
reduce investment in investee for return of capital distributions |
reduce investment . dividend income up-to the R/E declared. |
|
|
Do not record stock dividends in cost method. |
as front |
|
|
CARINBIG |
Common stock APIC R-Beginning r/e I nvestment in sub N-on controlling interest B-B/S adjustment I-dentifiable intangible asset G-gain or goodwill |
|
|
Retained earnings in consolidation must use |
beginning R/E |
|
|
finder's fee, legal fee, indirect cost to cosolidation |
expense |
|
|
registration fee and stock issuerance cost |
reduction to APIC |
|
|
bond issue cost |
capitalized and amortized |
|
|
IFRS partial goodwill method |
NCI= fair value of subsidiary's net identifiable *noncontrolling interest goodwill= acquisition cost - fair value of subsidiary's net asset aquired |
|
|
IFRS full goodwill method |
Fair value of sub- fair value of sub's net asset |
|
|
asset-liability= |
equity=net book value= CAR |
|
|
intercompany depreciable fixed asset |
dr. intercompany gain on sales of machinery cr. machinery cr. accumulated depreciation |
|
|
elimination entry for excess depreciation |
accumulated deprecitation cr. depreciation expense |
|
|
subsequent year elimination |
dr. retained earnings cr. machinery cr. accumulated depreciation dr. accumulated depreciation cr. depreciation expense |
