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1. It is simple defines as an entity over which the investors has significant influence.
2. Investment is recognized initially at___.
3. The investment in associate is measured using _.
4. Price that is expected to be received upon sale of an asset.
5. It is measured as the higher between fair value less cost of disposal and value in use.
6. The investors and investee are viewed as what?
7. If the assets of the investee are fairly valued,the excess of cost over carrying amount of the
underlying net assets is attributable to _.
8. The present value of the estimated future cash flows expected to arise from the continuing
use of an asset and from the ultimate disposal.
9. When an associates has outstanding non-cumulative preference shares,the investors shall
compute its share of earnings after deducting the __ only when declared.
10. It is the power to participate in the financial and operating policy decisions of the associate
but not control over those policies.
PAS 28: Investment in Associates
Answers:
1. Associates
2. Cost
3. Equity Method Of Accounting
4. Fair Value
5. Recoverable Amount
6. Single Economic Unit
7. Goodwill
8. Value In Use
9. Preference Dividends
10. Significant Influence
PAS 24: Related Party Disclosure
1. It is the power over the investee or the power to govern the financial and operating policies
of an entity so as to obtain benefits.
2. What is the transfer of resources or obligations between related parties, regardless of
whether a price is charged?
3. It is an example of related party who has an authority and responsibility for planning,
directing, and controlling the activities of the entity, directly or indirectly, including any
executive director or non-executive director?
4. An example of related party wherein the entity over which one party exercise significant
influence.
5. The power to participate in the financial and operating policy decisions of an entity, but not
control of those policies.
6. It is the contractually agreed sharing of control over an economic activity.
7. Give one category in which an entity shall disclose key management personnel
compensation.
8. Related party transactions must be properly ___.
9.____meaning the parent, the subsidiary and fellow subsidiaries.
10. Significant influence may be gained by share ownership of __.
PAS 24: Related Party Disclosure
Answers:
1. Control
2. Related Party Transactions
3. Key Management personnel
4. Associates
5. Significant Influence
6. Joint Control
7. Short-term Employee Benefits
Postemployment Benefits
Other Long-Term Benefits
Termination Benefits
Share-based payment transactions
8. Disclosed
9. Affiliates
10. 20% or more
PAS 29: Reporting in Hyperinflationary Economy
Answers:
1. Price Index
2. Constant Peso Accounting
3. Monetary Assets
4. Judgment
5. Nominal Peso Accounting
6. Purchasing Power
7. Nonmonetary Assets
8. Deflation
9. General Price Index
10. Inflation