ACC100 Lecture Notes - Lecture 1: Interest Expense, Deferred Income, Accrued Interest
Document Summary
The bring-it-home inc. (bihi) case presents transactions that shows several topics explained in the chapter as well as other chapters and this includes leases which is talked about in this chapter. I have to review the condensed financial statement draft for. 31 december 20x4 and make any adjustments needed based on ifrs that and give reasons. Then prepare a revised statement of financial position. Presented below is the analysis of my observations and suggested adjustments in relations to the transactions outlined. My revised statement of financial position then follows my detailed explanations. The following explanations are the deductions i made from the transactions and the adjustments needed: bank indebtedness. Since bihi"s parent company deals with an international consortium of banks and thus is able to negotiate a better rate than bihi, the loan from canadiana holds a higher interest rate when compared to the rate by.