ACCG308 Study Guide - Final Guide: Squid, Accounts Payable, Tute

64 views22 pages

Document Summary

Purchase of a note on 1/7/2013 for ,334,315. One economic entity exists if there is control over the other smaller individual entities. An investor represents its interest in the investee entity depending on the kind of relationship it has with that entity. Interest revenue 186,745: no special relationship investment as per aasb 139 and aasb 9 measured as an asset at cost or amortised cost at fv, significant influence associate and. Investor accounted for in equity as proportional share of associates profits: control parent and subsidiary relationship. Consolidation occurs combination of all the e(cid:374)tities" fi(cid:374)a(cid:374)(cid:272)ial state(cid:373)e(cid:374)ts: common control joint venture proportionate consolidation or equity method. That is 2 companies that have 50% of the control over another company. Enron employed spes to: bear risk of certain assets and liabilities, deceive debt as equity. This: deceived stakeholders, overstated profits, damaged creditors, debtors and financial institutions. Enron was allowed to use spe as the us gaap allowed it.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers

Related Documents

Related Questions