Deck 29 Flashcards Preview

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Flashcards in Deck 29 Deck (14):

Journal entry to record the net settlement of a cash flow hedge?

Dr. Cash and Cr. Cash flow hedge for the difference between original price and the price when it is settled


Goodwill method for admission of a new partner

Calculate implied FMV and then subtract original capital amounts and capital from new partner


Rule for DTA and DTL under IFRS:

Net all together and report as noncurrent


Valuation allowance is reported for what kind of securities?

Trading and available for sale (record at FV)


The purchase price of an asset includes:

The purchase price + appraisal costs


Deciding whether an item is considered cash or cash equivalents is based on?

The original maturities, not when they actually matured


Changes in the funded status of a pension plan must be reported where?

Decrease OCI and Decrease pension benefit assets


Property dividends declared do not effect:

APIC (excess FV over BV effects NI)


Examples of executory costs for leases?

Real estate taxes paid (exclude from the amount to be capitalized for the lease liability)


Loans to other entities and the collection of loans is included in what section of the Statement of Cash Flows

Investing section


A/R collections and tax refund collections should be included in what section of the Statement of cash flows?

Operating section


At the acquisition date, all balance sheet accounts must be adjusted to:

Fair value


Dividends in arrears

Undeclared dividends on cumulative preferred stock (record in the notes)


Under IFRS, where should foreign exchanges gains and losses related to stocks and bonds be reported?

Stocks: OCI; Bond: income statement