entity and a related party, regardless of whether a price is charged. Who are the related parties of the company? Based on MFRS 124 (paragraph 9) - A related party is a person or entity that is related to the entity that is preparing its financial statements (in this Standard referred to as the ‘reporting entity’). a) A person or a close member of that person’s family is related to a reporting entity if that person: i. has control or joint control over the reporting entity; ii. has
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chief lending money financial officers, other e.g., suppliers, bankers employees Government and regulatory bodies e.g., ATO, ASIC 11 GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP) In order to measure, process and communicate financial information, accountants follow rules, principles and standards. These rules, principles and standards are set by International Accounting Standards Board (IASB) Australian Accounting Standards Board (AASB) Financial Reporting Council (FRC)
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revenue recognized in the financial statements? Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 363 Week 2 DQ 3 in order to ace their studies. ACC 363 WEEK 2 DQ 3 To purchase this visit here: http://www.nerdypupil.com/product/acc-363-week-2-dq-3/ Contact us at: nerdypupil@gmail.com ACC 363 WEEK 2 DQ 3 What is unearned revenue and why is it considered a liability? When is unearned revenue recognized in the financial statements? Home Work Hour aims to
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entity, it is required to release financial reports that comply with the Australian Accounting Standards Board (AASB) (Deegan 2008:83). Two companies have been chosen to analyse their reports, in particular the disclosures made in their respective reports. The two companies chosen to analyse are Commonwealth Bank of Australia (CBA) and Macquarie Bank Limited (MBL). CBA The Commonwealth Bank is one of Australia’s leading providers of integrated financial services including retail, business
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Corporate InformatIon Board of directors Mr. Mahesh r. shetty - Chairman and Managing Director Mr. Naarayanan iyer - Non-Independent, Non-Executive Director dr. chhaya shastri - Non-Independent, Non-Executive Director Mr. cyrus driver - Independent, Non-Executive Director* Ms. drushti desai - Independent, Non-Executive Director Mr. Yatin samant - Independent, Non-Executive Director Mr. Uday Lajmi - Independent, Non-Executive Director * Resigned w.e.f. 17 June, 2013 Ms. Drushti Desai (Chairperson)
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is estimated as a loss and also include a disclosure note in the financials explaining the situation. The ethical dilemma regarding this case has to do with the loss contingencies and whether or not to accrue for unsettled litigations. Stakeholders in this situation are myself, as the CFO, Camp Industries, stockholders in Camp Industries as well as any financial institution that may being using the upcoming financial statements for whatever reason may be. As the facts state above
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Consolidated BALANCE SHEET As at 31st March, 2012 (All amounts in Rs.Crores, unless otherwise stated) Note EQUITY AND LIABILITIES Shareholders' funds Share capital Reserves and surplus Minority Interests Non-current liabilities Other long term liabilities Long-term provisions Current Liabilities Trade payables Other current liabilities Short-term provisions Total ASSETS Non-current assets Fixed Assets Tangible assets Intangible assets Capital work-in-progress Intangible assets under development
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Corporate Information Corporate Structure Chairman’s Statement Financial Highlights Directors’ Profile Statement on Corporate Governance Statement of Directors’ Responsibilities in Relation to Financial Statement Other Compliance Information Audit Committee Board Committee Statement on Internal Control Financial Statements List of Group Properties Statement of Shareholdings Notice of Annual General Meeting Appendix A Form of Proxy 02 03 04 06 07 13 18 19 20 25 27 29 82 86 89 91 Corporate Information
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Chapter 3 The Balance Sheet and Financial Disclosures AACSB assurance of learning standards in accounting and business education require documentation of outcomes assessment. Although schools, departments, and faculty may approach assessment and its documentation differently, one approach is to provide specific questions on exams that become the basis for assessment. To aid faculty in this endeavor, we have labeled each question, exercise, and problem in Intermediate Accounting, 7e with
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Note: Sentences beginning with a * are using material or quotes from the text or Investopedia.com 1. Companies present four related financial statements and their accompanying footnotes: * The Balance Sheet: * Is a financial statement that summarizes a company's financial condition at a specific point in time, * Follows the formula Assets = Liabilities + Shareholder’s Equity, which makes sense because the company must pay for the resources it owns (assets) by either borrowing money (liabilities)
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