1. Based on the Settled or Not Settled case what are the criteria for recognizing the benefits of an uncertain tax position? Please explain.
2.If a company has a revolving line of credit that they are actively using by borrowing money and making repayments during the year, under what circumstances would it be acceptable to report a net amount for the borrowing and repayment activity associated with the line of credit when preparing the Cash Flow Statement? Please explain.
3.In the Rough Waters Ahead case, what is the appropriate journal entry (if any) that should be recorded if all of the available evidence indicates that the the cruise ship will be subject to a foreclosure in the immediate future? Please explain.
4. How does the IFRS criteria for accounting for a pension plan curtailment differ from the U.S. GAAP criteria? Please explain.
5. In the Commitment to Share case how does IFRS differ from GAAP in regard to reporting the Value Share Committment contingency resulting from BuyCo’s agreement with SellCo to purchase certain assets and liabilities of SellCo in which BuyCo has agreed to transfer an additional 2 million shares of stock to SellCo if the total fair value of the shares held by SellCo (from the purchase transaction) falls below $20 million if BuyCo undergoes an IPO during the period specified? Please explain.
6.Please explain how accountants are expected to address uncertainty in whether deferred tax assets can be used in the future affect income tax expense.
7.Please explain the impact on financial reporting if a lessor grossly inflates the residual value of a capital lease.
8.Please explain the current rules under SFAS 158 (ASC Topic 715 for accounting for the difference between the fair value of plan assets and projected benefit obligations for defined benefit retirement plans.
9.Please explain the changes in the disclosure requirements for defined benefit plans that became effective after December 15, 2009 due to the release of ASC topic 715.
10.Please explain factors that must be considered in determining whether a corporation has control of another entity for the purpose of determining whether consolidated financial statements should be prepared.
Order an Essay Now & Get These Features For Free:
Turnitin Report
Formatting
Title Page
Citation
Outline
