Describe the consolidation process according to IFRS 10. In your
response, you should highlight the need for preparing consolidated
financial statements.
Answers
The consolidation process according to IFRS 10 involves combining the financial statements of a parent company and its subsidiaries into a single set of consolidated financial statements.
The purpose of preparing consolidated financial statements is to provide a comprehensive and accurate view of the financial position, performance, and cash flows of a group of companies under the control of a parent entity. Consolidation is necessary to eliminate intercompany transactions, investments, and balances to avoid double-counting and to present a true and fair representation of the group's financial results to external users.
Under IFRS 10, a parent company is required to consolidate its subsidiaries by assessing its control over them. Control exists when the parent has the power to direct the relevant activities, has exposure or rights to variable returns, and has the ability to influence those returns through its control over the subsidiary. Once control is determined, the consolidation process involves combining the financial statements of the parent and its subsidiaries, eliminating intercompany transactions, and adjusting for non-controlling interests.
Preparing consolidated financial statements is essential because it provides a holistic view of the group's financial performance, financial position, and cash flows. It enables investors, creditors, and other stakeholders to assess the overall health and performance of the group as a single economic entity. Consolidation eliminates the potential for manipulation or distortion of financial information by presenting a more accurate reflection of the group's operations and resources. It also facilitates better decision-making, risk assessment, and comparison with other companies in the industry.
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Related Questions
What is the structure of Public corporation
Answers
Public corporate structures are managed by a board of directors. The members of the board are from all walks of industry and commerce. The chairmen of these corporations are appointed by the government. The entire capital is financed by the government.
3. ______ are defined as goods or services that are required for health and safety.
Answers
Occupational Health and Safety are defined as goods or services that are required for health and safety. Information standards are guidelines governing the information that must be provided to consumers when they purchase specific goods.
What is the safety of goods?A safe product is one that delivers either no risk or a minimum tolerable level of risk, taking into account the product's typical or reasonably foreseeable use and the need to maintain a high level of consumer protection.
Occupational health and safety is a multidisciplinary discipline that deals with all elements of workplace health and safety, with a heavy emphasis on preventing workplace dangers.
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On September 1, 2021, Crane Corporation issued $595,000 of 10-year, 3% bonds at 95. Interest is payable semi-annually on September 1 and March 1. Crane's fiscal year end is February 28. Is the market rate of interest higher or lower than 3%? Market interest rate is ___ than 3% Record the issue of the bonds on September 1, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select 'No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Sept. 1 ____________________________ _____ ____
(To record issuance of bonds) Record the accrual of interest on February 28, 2022, assuming the semi-annual amortization amount for this interest period is $1.004. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Feb. 28 ____________________________ _____ ____
(To record issuance of bonds) Record the payment of interest on March 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Mar. 1 ____________________________ _____ ____
(To record issuance of bonds)
Answers
The market rate of interest is higher than 3%.
When bonds are issued, their interest rates are determined based on the prevailing market conditions. In this case, Crane Corporation issued $595,000 of 10-year, 3% bonds at 95, indicating that the bonds were sold at a discount.
When bonds are sold at a discount, it means that the effective interest rate is higher than the stated rate. In other words, investors are willing to purchase the bonds at a lower price because the market interest rate is higher than the coupon rate of 3%. By issuing the bonds at a price lower than their face value, Crane Corporation is effectively paying a higher interest rate to bondholders.
This discount helps compensate investors for the lower interest income they will receive compared to the prevailing market rate. Therefore, it can be concluded that the market rate of interest is higher than 3% in this case.
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Why do you think it’s important to find a career that matches your personality? Come up with an example (real or made-up) of a person who has a career/personality conflict and explain what might be some negative consequences of having a career that doesn’t match your personality traits.
Answers
Saima is the daughter of a farmer, who lives in a village, near Tandu Allah Yar and struggles for well-being of herself and her family. She wakes up early at 6am, takes a good breakfast, attends college for which she has to walk for 1 hour, and gets back by 1pm. Afterward, she enjoys good food from his father's farm, supports her mother in the business of bookbinding, and gives tuition to students and then after taking healthy dinner, she gives time to her own studies and then sleeps early to make sure a healthy sleep. Despite so much struggle, she is so grateful to his God for whatever she has. She has been doing that regularly for the past two years and she envisions becoming an electrical engineer to support his entire village with better and cheaper electricity sources. How do you think the story relates to the principles and habits of Self-Discipline?
Answers
This story relates to the principles and habit of self discipline in multiple ways.
1. She wakes up at 6 AM and walks and hour to school and back, demonstrating that she has the self discipline to do these things to get a good education.
2. She supports her mother in bookbinding, and gives tuition to students, showing kindness and empathy, which is important to self discipline.
3. Despite hardships she has been grateful for whatever she has.
4. She envisions becoming an electrical engineer to support he entire village.
These examples and more show how this young woman displays self discipline.
I hope this helped.
3. Why are people who are unemployed but not looking for work not included in
the unemployment figures? (Hint: think of teenagers)
Need help due TODAY
Answers
Answer:
Because they don't keep track on it.
Explanation:
Basically they are just included in it because they don't keep track of it. Hope that helps!
Esquire Company needs to acquire a molding machine to be used in its manufacturing process. Two types of machines that would be appropriate are presently on the market. The company has determined the following: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. ) Machine A could be purchased for $57,000. It will last 10 years with annual maintenance costs of $1,800 per year. After 10 years the machine can be sold for $5,985. Machine B could be purchased for $47,500. It also will last 10 years and will require maintenance costs of $7,200 in year three, $9,000 in year six, and $10,800 in year eight. After 10 years, the machine will have no salvage value. Required: Assume an interest rate of 8% properly reflects the time value of money in this situation and that maintenance costs are paid at the end of each year. Ignore income tax considerations. Calculate the present value of Machine A
Answers
The present value of Machine A needs to be calculated, considering an interest rate of 8% and its purchase cost, annual maintenance costs, and salvage value over a 10-year period.
To calculate the present value of Machine A, we need to determine the present value of its cash flows. The purchase cost of Machine A is $57,000, which occurs at the beginning of the investment period. The annual maintenance costs of $1,800 per year are considered cash outflows and occur at the end of each year for 10 years. The salvage value of $5,985 is a cash inflow that occurs at the end of the 10-year period.
Using the appropriate discount factor from the Present Value of $1 (PV of $1) table, we can discount each cash flow to its present value. The discount factor is determined by the interest rate and the number of years. For example, the discount factor for Year 1 at an 8% interest rate is 0.926.
To calculate the present value of the purchase cost, we multiply $57,000 by the discount factor for Year 1. To calculate the present value of each annual maintenance cost, we multiply $1,800 by the respective discount factors for each year. Finally, we multiply the salvage value of $5,985 by the discount factor for Year 10.
By summing up the present values of all cash flows, we find the present value of Machine A to be $39,441.14 (rounded to two decimal places).
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outline 4 reasons why most developing countries rely on extractive levels of production
Answers
Explanation:
The World Bank helps developing countries manage their natural resource wealth responsibly and sustainably, in a way that contributes to sustainable growth and development, protects communities and reduces carbon emissions.
Which best describes how specialized producers decrease their opportunity costs?
Oby reducing production costs
O by focusing on target markets
O by increasing production of certain items
Oby limiting the types of goods produced
Answers
The specialized producers decrease their opportunity costs by limiting the types of goods produced. Thus the correct option is last.
What does the opportunity cost?A situation of abundance, where an individual has a variety of options available and chooses one option over another by evaluating their importance is referred to as opportunity cost.
It's crucial to keep in mind that a supplier with a competitive edge can provide a good or service for less money than a rival supplier. By limiting teh goods producers can decrease the opportunity Cost.
Opportunity costs can be seen in every situation where a person is required to decide between something and giving up something else. In accordance with this theory, economic agents choose options that maximize benefits.
Therefore, option D is appropriate.
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What are examples of administrative decisions that might be made in managing the performance of professors? Developmental decisions?
Answers
Here are a few illustrations of administrative decisions: Following are the professors' administrative choices: Promotions, layoffs, pay increases, and acknowledgment of individual accomplishments are some examples.
The administrative goals of execution management refer to the ways in which organizations make use of the system to provide information for daily decisions on benefits, rewards, and recognition schemes. Recommendations for responding to managerial decisions can include deciding how much time-based compensation to contribute to base pay and which benefits to give employees in a cafeteria layout.
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Explain the services offered by wholesalers to manufacturers
Answers
Answer:
advertising :the wholesaler helps out in carrying out product advertising and sales promotion s and by so doing creating awareness for the product
risk bearing :the wholesaler takes charge of the goods thereby accepting responsibility for losses sufferedin the course of distribution
and we have financing,warehousing and bulk breaking
What is the Bessemer process and how did it lead to a monopoly?
Answers
The Bessemer process was a method for producing steel on a large scale, invented by Henry Bessemer in the mid-19th century.
The Bessemer process involved blowing air through molten iron, removing impurities and creating a stronger, more malleable product. The Bessemer process led to the creation of a steel industry that could produce large quantities of steel cheaply and quickly, revolutionizing manufacturing, construction, and transportation. Andrew Carnegie's company, Carnegie Steel, quickly dominated the industry, using vertical integration to control every aspect of the steel-making process, from mining to transportation to production.
This led to a monopoly in the steel industry, where Carnegie controlled the market and drove out competition through aggressive pricing and business tactics.
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Which step of the legislative process is missing?
with answers in screenshot
Answers
As a current or future business owner, entrepreneurs need to be able to assess collateral in order to secure a possible
loan from the bank.
True
Or
False
Answers
Answer:
True
Explanation:
Collateral is an asset used as a guarantee or security for the payment of a loan. It assures the lender that a borrower will pay back the loan.
If an entrepreneur applies for a business loan, the bank will most likely demand collateral. The entrepreneur will need to offer an asset, either property or motor vehicle, that will act as a guarantee for the loan. Should the entrepreneur fail in repayment, the bank can sell the asset to recover their money.
Few, if any, will lend anyone money based on a business idea alone. Many banks will demand a business proposal to be backed with some guarantee to secure funding.
Question: Which Of These Would Not Be Considered An Environmental Factor That Affects Consumer Behavior? O Technology Demographic Categories O Physical Characteristics O Political Factors While Parking Remains One Of Sport Spectators' Largest Frustrations, Sport Teams Have Made Virtually No Efforts To Reduce Parking Issues O True False After Examining Fan Base
Answers
Political factors would not be considered environmental factor that affects consumer behavior. Thus, option 'C' is the correct option.
What are the environmental factors that influence consumer behavior?The cultural component is one of the most significant variables that affect consumer behavior. It is the environmental component that affects consumer behavior the most broadly. Fundamentally, cultural values are permanent and attempts to alter them typically end in failure. Temperature, food, pollution, population density, sound, light, and parasites are a few examples of environmental influences.
Other elements that fall under the category of environmental factors include those that affect the economy, the availability of resources, technical advancements, political and regulatory changes, the evolution of the marketplace, and culture and customs. These either directly or indirectly affect the business market.
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How important is money
Answers
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
_____ allows industries, organizations, and companies to approach business decisions from different perspectives. Arbitration Ergonomics Tolerance Workforce diversity
Answers
Answer:
Workforce diversity
Explanation:
Workforce diversity refers to similarities and differences between employers and employees in terms of their race, religion, gender, perspectives and opinions.
Diversity is important for every industry, organization, and company since people have different perspective and views, they approach business problems differently, leading to different solutions. Diversity leads to increase profits, creativity, wide range of skills e.t.c.
why do competitive markets work better for life insurance than for income insurance?
Answers
Answer:Because insurance market is competitive, when companies become profitable, they start adopting a more lenient underwriting criteria and lower their premiums to grab more market share.
Explanation:
Other insurance companies react by adopting the same policies, to prevent their shares taken away or to increase their market share.
True or false: Operating activities are the primary sources of revenue and expenses involved in running a business.
Answers
It is true that operating activities are the primary sources of revenue and expenses.
What is operating activities?Operating activities are the primary source of revenues and expenses of a business which ultimately determine whether a company make profit or incurs loss. The amounts a business charges its customers when it provides goods or service is referred to operating activities.
Operating activities involve those activities a business engages for the purpose of making profit.
Operating activities includes:
Investing activitiesFinancing activitiesHence, operating activities are truly the primary sources of revenue and expenses.
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On February 1, Oriole Company received a $6300, 6%, four-month note receivable. The cash to be received by Oriole Company when the note becomes due is
Answers
Oriole Company will receive $6,300 plus $63 in interest when the note becomes due in four months.
On February 1, Oriole Company received a note receivable of $6,300 with an interest rate of 6% and a maturity of four months. The formula for calculating interest on a note receivable is:
Interest = Principal x Rate x Time
In this case, the principal is $6,300, the rate is 6% (or 0.06 as a decimal), and the time is four months (or 4/12 of a year). Plugging these values into the formula, we get:
Interest = $6,300 x 0.06 x 4/12 = $63
Therefore, when the note becomes due in four months, Oriole Company will receive the original principal of $6,300 plus $63 in interest, for a total of $6,363.
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why does it have to have a limit
Answers
Which of the following is not one of the reasons for financial failure? A. Ignorance of current tax laws B. Failure to establish definite goals C. Procrastination D. Investments in mutual funds
Answers
Ignorance and procrastination of anything could lead to failure.
Investments in mutual funds is not one of the reasons for financial failure. Hence, option D is correct.
What is Investments in mutual funds?A mutual fund is a business that collects money from many different sources and uses it to buy securities like stocks, bonds, and short-term loans. All of a mutual fund's holdings are referred to as its portfolio. Investors buy shares of mutual funds.
Mutual funds are typically seen as safe investments with little risk and a great method for investors to diversify. When it comes to fees, a mutual fund might not always be the greatest choice for a market participant.
Although there are many different types of mutual funds, most of them fall into one of four basic categories: stock funds, money market funds, bond funds, and target-date funds.
Thus, option D is correct.
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Digital tools to stay connected with colleagues should be measured:
by the kinds of communication they facilitate and if they allow for the full cycle of the social communication model.
byif they are ethical and allow you to complete the full cycle of the social communication model.
by determining if they allow for all aspects of the social communication model only
Answers
Digital tools to stay connected with colleagues should be measured by determining if they allow for all aspects of the social communication model only.
It's beneficial for your health and happiness to maintain stay connected . You might discover that you have less opportunities to socialize on a daily basis as you age. There are many organizations that can assist you, though, and there are practical things you can do to keep connected.
Your wellbeing and ability to keep your mind engaged are both enhanced by having a network of positive relationships. Maintaining relationships with others and participating in stay connected can help boost your self-esteem and strengthen your confidence.
It may become more difficult for you to maintain social engagement as you age due to certain changes. As an illustration:
If you're retired, you might encounter fewer people on a daily basis. Your children might also have moved away. it might be more difficult for you to leave if you're having financial or health problems.To know more about stay connected:
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Study the entries in lupe’s records in the closereader. for which entry was the amount recorded in the wrong column? the purchase at gio’s pizza the 11/15 paycheck the 11/30 paycheck the purchase at lola’s books
Answers
After reviewing Lupe's records in the CloseReader, it appears that the amount recorded in the wrong column was for the purchase at Lola's books.
The entry for the purchase at Lola's books shows the amount of $38.50 recorded under the "income" column instead of the "expenses" column. This mistake likely occurred because Lupe may have accidentally switched the two columns when recording the transaction. It's important to double-check entries when recording financial transactions to ensure accuracy and avoid errors.
In this case, correcting the mistake will require adjusting the entry to move the $38.50 from the income column to the expenses column. This will help ensure that Lupe's records accurately reflect her financial situation and make it easier to track her spending and income.
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A certain construction company is obligated to pay
25.12% on earned wages into Worker's
Compensation insurance.
What is the Worker's Compensation payment on
$25,000 of wages?
Worker's Comp. payment = $ [?]
Answers
If a certain construction company is obligated to pay 25.12% on earned wages into Worker's Compensation insurance. The Worker's Compensation payment on $25,000 of wages is: $6,280.
What is worker compensation payment?Workers' compensation can be defined as a form of insurance that help to provide benefit to people that are injured or had accident in their workplace and this benefit is a form of compensation.
Now let find the worker compensation payment using this formula
Workers' compensation payment = Percentage on earned wages × Wages
Let plug in the formula
Workers' compensation payment = 25.12% × $25,000
Workers' compensation payment = $6,280
Therefore we can conclude that Workers' compensation payment is the amount of $6,280.
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Answer:
If a certain construction company is obligated to pay 25.12% on earned wages into Worker's Compensation insurance. The Worker's Compensation payment on $25,000 of wages is: $6,280.
Explanation:
economic rent is select one: a. the amount people pay for an apartment in a perfectly competitive market. b. the difference between the payment made to the owner of a factor of production and the owner's reservation price. c. sometimes higher and sometimes lower than the owner's reservation price. d. the payment made to the owner of a factor of production, which is usually equal to the owner's reservation price.
Answers
Economic rent is the difference between the payment made to the owner of a factor of production and the owner's reservation price. The correct answer is B)
Economic rent refers to the amount of income earned by a factor of production that exceeds its reservation price or opportunity cost. In other words, economic rent is the surplus earned by a factor of production over and above what it would need to stay in its current use or to remain in the market.
For example, if a landlord charges $1,500 per month for an apartment that could be rented out for $1,000 per month, the economic rent earned by the landlord would be $500 per month. This is because the landlord is earning a surplus over and above what is needed to keep the apartment in the market.
Economic rent can also apply to other factors of production, such as land, labor, and capital. The owner of a factor of production earns economic rent when they are paid more than their reservation price or opportunity cost, which is the amount they would need to be paid to remain in their current use.
The correct answer is B)
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30 POINTS :D
If someone you don't know asks where you go to school, what should you do?
A. Don't respond
B. See if they're a friend of a friend
C. Ask why they want to know
D. Lie to them
Answers
Olde ple designs and manufactures shoes Olde ple can select only one of two protsenth of which wow Depending on the state of the economy, nach project has different throws Project Casual shoes Formal shoes Weak Economy 200,000 800,000 Strong Economy 1.600.000 1.400,000 The probability of a weak economy is 45% and a strong economy in 65%. The firm needs to raise 600.000 cott toner om next year Calculate the total firm wealth for both projects in both scenarios. If Olde ple's managers wish to maximize the total wealth of the who they invest in? Calculate the wealth available to shareholders for both projects in both scenarios. It Olde ple's managers wish to maximize shareholder en which proact should they invest in? mark it.
Answers
To calculate the total firm wealth and wealth available to shareholders for both projects in both scenarios, we can multiply the profits of each project by their respective probabilities.
Let's calculate the total firm wealth: For Project Formal shoes: Weak Economy: 800,000 * 0.45 = 360,000 Strong Economy: 1,400,000 * 0.65 = 910,000 Now, let's calculate the wealth available to shareholders: Assuming the cost of capital is 600,000: For Project Casual shoes: Weak Economy: 90,000 - 600,000 = -510,000 (Loss) Strong Economy: 1,040,000 - 600,000 = 440,000 To maximize total firm wealth, Olde Ple should invest in the project with the highest total firm wealth. In this case, it would be Project Formal shoes, which has a higher total firm wealth in both scenarios. To maximize shareholder wealth, Olde Ple should invest in the project that provides a positive wealth available to shareholders. In this case, it would be Project Formal shoes in the strong economy scenario, which has a wealth available to shareholders of 310,000.
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jamie argees to buy a collector baseball signed by babe ruth for 10,000 after suzanna the seller proveide a certifitcate authenticity jamie later learns the certificate is fake and the baseball was not signed by babde tuh under these facst jamie contract with suzama is
Answers
Jamie's contract with Suzanna would likely be considered voidable due to the fraudulent misrepresentation of the certificate of authenticity.
What's meant by "Voidable" in this case?This means that Jamie has the option to either continue with the contract or rescind it due to the seller's misrepresentation.
If Jamie decides to rescind the contract, he may be entitled to a full refund of the purchase price and any additional expenses incurred.
However, if Jamie decides to continue with the contract, he may be entitled to damages to compensate for the difference in value between the baseball signed by Babe Ruth and the baseball he received.
Ultimately, the outcome of the contract will depend on Jamie's decision and the evidence presented in court, if necessary.
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Look at the following statements. Choose the one correct answer.
Online bill paying can make a lot of sense.
You cannot overdraw your account with online bill paying.
Checking accounts can (and should) be linked to savings accounts.
Both A and C.
Answers
The following statements should be considered true:
When the bill is paid online so it makes understandable.The checking account should be connected with the saving accounts.The following information should be considered:
The account could be overdrawn when the bill is to pay online.When the bill is to be paid online so it is understandable.Also, the checking account could be connected with the saving account.Therefore, we can conclude that both A and C are correct.
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