ADMS 3595 Study Guide - Midterm Guide: Contingent Liability, Goods And Services Tax (Canada), Accrued Interest

• School: York University
• Department: Administrative Studies
• Course: ADMS 3595
• Professor: Sung Kwon

Document Summary

Income tax payable estimate: corporations instalments (revenue/expense approach) Income tax expense / receivable / payable: common difference taxable income tax law & gaap. Ifrs interest expense / aspe accretion expense: revaluate & increase in aro increase obligation. Ifrs measure fv (premium by guarantor) later measured estimate payment to settle / unamortized premium: commitments, executor contract / disclose abnormal commitments. Ifrs fv only if relevant: change in fv aspe net income / ifrs oci. Issue shares (882-883: transfer non cash asset (882, modify terms reduced rate / extend maturity / reduce face / reduce. In-substance defeasance creditor not released (not extinguishment: off-balance sheet financing, financing deal - obligations not recorded sfp, non-consolidated entities / special purpose entities & variable interest entities. Instead debt issue preferred (reduce debt to equity ratio) If large (20~25% increase) stock split: cbca stock dividend treated as dividend. Derivatives: financial instrument create financial asset/liability, derivative instrument derive value underlying instrument/item.