Recognition and Measurement?

Which THREE of the following statements are true in relation to financial assets designated as fair value through profit or loss under IAS 39 Financial Instruments: Recognition and Measurement?A . Shares in another entity held for short term trading purposes fall within this category.B . Transaction costs in relation to these assets are expensed...

CORRECT TEXT

CORRECT TEXT LK acquired 100% of the equity shares of TU on 1 January 20X4. LK disposed of 60% of TU for £2,400,000 on 30 September 20X4. The sale proceeds reflected the fair value of TU’s shares on that date. The remaining 40% shareholding gave LK the ability to exercise significant influence over the...

From the information provided, which of the following ratios would be reliably comparable for AB andCD?

AB and CD are separate entities that prepare financial statements to 31 May using international accounting standards. AB and CD provide technical support services to the financial services industry and operate in the same country. The financial statements are identical except for the following: • AB purchased all operating equipment, paying $100,000, using a...

If considered individually, which of the following would limit the usefulness of these ratios in assessing the comparative financial performances of PQ and WX?

PQ and WX are similar sized entities and operate in the same industry within Country X. Both operate from a single warehouse and have similar levels of non current asset resources. The following ratios have been calculated at 31 October 20X8: If considered individually, which of the following would limit the usefulness of these...