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  • Alamco Is A Canadian Public Company With Its Head Office

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    hassan taimour
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    Alamco is a Canadian public company with its head office in Saskatoon, Saskatchewan and shares listed on the Toronto and Shanghai stock exchanges. It has a wholly owned Chinese subsidiary that uses Canadian GAAP accounting except that it expenses all research and development costs, whereas IFRS allows certain development costs to be capitalized and amortized. The controller wants to know the required currency for financial reporting and the accounting effect of the difference in R&D cost treatment.

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    Alamco is a Canadian Public Company With Its Head Office

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    Alamco is a Canadian public company with its head office in Saskatoon, Saskatchewan and shares listed on the Toronto and Shanghai stock exchanges. It has a wholly owned Chinese subsidiary that uses Canadian GAAP accounting except that it expenses all research and development costs, whereas IFRS allows certain development costs to be capitalized and amortized. The controller wants to know the required currency for financial reporting and the accounting effect of the difference in R&D cost treatment.

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    © All Rights Reserved
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    7 views1 page

    Alamco Is A Canadian Public Company With Its Head Office

    Uploaded by

    hassan taimour
    Alamco is a Canadian public company with its head office in Saskatoon, Saskatchewan and shares listed on the Toronto and Shanghai stock exchanges. It has a wholly owned Chinese subsidiary that uses Canadian GAAP accounting except that it expenses all research and development costs, whereas IFRS allows certain development costs to be capitalized and amortized. The controller wants to know the required currency for financial reporting and the accounting effect of the difference in R&D cost treatment.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Alamco is a Canadian public company with its head office

    #83
    Alamco is a Canadian public company with its head office located in Saskatoon, Saskatchewan.
    Its common shares are listed on both the Toronto and Shanghai stock exchanges. Alamco has
    a wholly owned subsidiary in China.The subsidiary uses accounting principles consistent with
    Canadian GAAP except for one item. It expenses all research and development costs whereas
    IFRS would allow certain development costs to be capitalized and amortized over the period
    when the development costs provide benefit. The controller would like to understand the
    currency of financial reporting that would be required for presentation to the users of Alamco’s
    financial statements. In addition, she is unsure of the accounting effect of the difference in the
    treatment of the research and development costs.RequiredRespond to the controller’s
    questions.View Solution:
    Alamco is a Canadian public company with its head office

    ANSWER
    http://paperinstant.com/downloads/alamco-is-a-canadian-public-company-with-its-head-office/

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