SOLUTION MANUAL
Modern Advanced Accounting In Canada
10th Edition By Darrell Herauf, Chima
Mbagwu
Chapters 1 - 12, Complete
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, Chapter 1 AR
Conceptual & Case Analysis Framewo AR AR AR AR
rks for Financial Reporting AR AR AR
A brief description of the major points covered in each case and problem.CASE
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Case 1-1 AR
In this case, students are introduced to the difference in accounting for R&D costs betweenI
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FRS and ASPE and asked to provide arguments to support the different standards.
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Case 1-2 (adapted from a case prepared by Peter Secord, Saint Mary’s University)
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In this real life case, students are asked to discuss the merits of historical costs vs. replacement cos
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ts. Actual note disclosure from a company’s financial statements is provided as background mater
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ial.
Case 1-3 (adapted from a case prepared by Peter Secord, Saint Mary’s University)
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, A Canadian company has just acquired a non-
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controlling interest in a U.S. public company. It must decide whether to use IFRS or U.S. GAAP for t
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he U.S. subsidiary. Financial statement information is provided under IFRS and U.S. GAAP. The reas
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ons for some of the differences in numbers must be explained and an opinion provided as to whic
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h method best reflects economic reality.
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Case 1-4 AR
This case is adapted from a CPA Canada case. A private company is planning to go public. Analysis
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AR and recommendations are required for accounting issues related to purchase and installation of
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new information system, revenue recognition, convertible debentures and doubtfulaccounts recei
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vable.
Case 1-5 AR
This case is adapted from a CPA Canada case. A private company is planning to transition from A
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SPE to IFRS. Analysis and recommendations are required for accounting issues related to convert
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ible debentures, unusual item, revenue recognition, contingency and impairment.
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