Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Financial Accounting Expert

problem 1: You are the management accountant of Clean, an entity listed in a country that permits entities to publish financial statements in accordance with IFRS. Clean is considering seeking a listing on a US stock exchange in the near future. Your Chief Executive Officer takes a keen interest in fi nancial reporting but he is not a professionally qualified accountant. He has recently sent you a memorandum that raises the following issue:

My political contacts tell me that government ministers are very interested in extending the practice of environmental reporting. What exactly does ‘environmental reporting’ mean, and to what extent is it mandatory? Why does there seem to be a trend towards greater environmental reporting? You don’t need to go into massive detail, just give mean outline of what is involved.

Requirements:

Draft a reply that deals with this issue. You should refer to the provisions of IFRS, and any other relevant documents where you consider them to be of assistance in supporting your reply.

problem 2: You are the Management Accountant of Clean, an entity listed in a country that permits entities to publish financial statements in accordance with IFRS. Your Chief Executive Officer takes a keen interest in financial reporting but he is into a professionally qualified accountant. He has recently sent you a memorandum that includes the following query.

One of the phrases I often hear is ‘our employees are our most important asset’. I largely agree with this sentiment, but if it is true, then surely this should be reflected in some way on the statement of financial position. I do not recall seeing such an asset in previous statement of financial position and would be most grateful for your advice.

Requirement:

Draft a reply to the Chief Executive Officer’s query. You should refer to the provisions of IFRS and any other relevant documents.

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M91757

Have any Question? 


Related Questions in Financial Accounting

Given the following information period may june july august

Given the following information: Period May June July August Demand 62K 73K 68K what is the August forecast for a 3-period weighted moving average if the weights for May, June and July are 1, 2, and 3, respectively?

Jolly company uses the fifo method in its process costing

Jolly Company uses the FIFO method in its process costing system. Beginning stock in the mixing processing centre consisted of 4,000 units, 75% complete with respect to conversion costs. Ending work in process stock cons ...

The two original shareholders of a llc issue 40000 shares

The two original shareholders of a LLC issue 40,000 shares of common stock to a valued employee (vice-president of marketing) who was being wooed by a rival company. The employee pays nothing for the shares, but the empl ...

Road corporation acquired all of conger corporations voting

Road Corporation acquired all of Conger Corporation's voting shares on January 1, 20X2, for $478,000. At that time Conger reported common stock outstanding of $94,000 and retained earnings of $135,000. The book values of ...

Morganton company makes one product and it provided the

Morganton Company makes one product and it provided the following information to help prepare the master budget for its four months of operations: (a) The budgeted selling price per unit is $70. Budgeted unit sales for J ...

Time value concepts applied to solve business problems

(Time Value Concepts Applied to Solve Business Problems) Answer the following questions related to Dubois Inc. (a) Dubois Inc. has $600,000 to invest. The company is trying to decide between two alternative uses of the f ...

If a contract contains elements of both a service and a

If a contract contains elements of both a service and a good: a. The UCC says such a contract is always considered a sale of a good and thus subject to the UCC b. The UCC says such a contract is always considered a servi ...

Financial accounting assignment-learning objectives-to

FINANCIAL ACCOUNTING ASSIGNMENT- LEARNING OBJECTIVES- To understand the basic concepts/terminologies required for understanding the financial accounting QUESTION- Mr. Akram started a business with cash of Rs. 500,000 and ...

A liquidator or off-price storeis more likely to locate in

A liquidator or off-price store is more likely to locate in a remote area than in a busy downtown or suburban shopping area. sources from manufacturers for overruns and from retailers with excess seasonal merchandise. te ...

An investment fund has a balance of 100 at the beginning of

An investment fund has a balance of 100 at the beginning of the year and of 145 at the end of the year. A 30 contribution to the fund is made at time t=1/3. The balance just prior to this contribution is 105. Let the ann ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate