Professional Documents
Culture Documents
FR Theory 3 Marks
Uploaded by
Safal BhandariCopyright
Available Formats
Share this document
Did you find this document useful?
Is this content inappropriate?
Report this DocumentCopyright:
Available Formats
FR Theory 3 Marks
Uploaded by
Safal BhandariCopyright:
Available Formats
Compiled by : Binay Bhattarai
1. Barriers to global harmonization of financial reporting standards
Ans: It is widely argued that global harmonization of financial reporting standardswillbringabout
uniformity in financial reporting and ensure consistency and comparability in published financial
information by enterprises. However there are some barriers to global harmonization.
These are as follows:
➢ Different purposes of financial reporting
ai
➢ Different legal system
➢ Different user groups
r
tta
➢ Needs of developing countries
➢ Nationalism demonstrated in the unwillingness to accept another country‘s standards
➢ Cultural differences resulting in different objectives for accounting systems
a
➢ Unique circumstances
Bh
➢ The lack of strong accountancy bodies
y
2. The concept of fund theory and fund based accounting
Ans: a
Not-for-profit organizations, such as government institutions, colleges, and hospitals,usefund
in
theory in their accounting. This theory is based on theequationAssets=Restrictionsonassets,where
assets represent services to the fund and liabilities represent restrictions on these assets. The balance
:B
sheet serves as an 'inventory statement' of assets and their associated restrictions. Revenues increase
assetswithoutequityrestrictions,andtheresidualequityisthefinalrestriction,ensuringassetandequity
equality. Expenses release services for designated purposes. Fund theory focuses on fund-based
by
accounting rather than entity-based accounting, where each fund is a distinct accounting entity with
specificpurposesandservices.Financialstatementsarepreparedforeachfundandthenconsolidatedto
d
represent the organization as a whole.
le
3. Banking liquidity risk and its warning indicators
pi
Ans: Liquidity is the ability of an institution to transform its assets into cash or its equivalentina
om
timelymanneratareasonablepricetomeetitscommitmentsastheyfalldue.Liquidityriskisconsidered
amajorriskforbanks.Itariseswhenthecushionprovidedbytheliquidassetsarenotsufficientenough
tomeetitsobligation.Liquidityriskcanbestbedescribedastheriskofafundingcrisis.Givenbeloware
C
some early warning indicators that have potential to ignite liquidity problem for a bank.
• A negative trend or significantly increased risk in any area or product line.
• Concentrations in either assets or liabilities.
• Deterioration in quality of credit portfolio.
• A decline in earnings performance or projections.
• Rapid asset growth funded by volatile large deposit.
Compiled by : Binay Bhattarai
• A large size of off-balance sheet exposure.
• Deteriorating third party evaluation (negative rating) about the bank and negative publicity.
• Unwarranted competitive pricing that potentially stresses the banks.
4. Environmental accounting
Ans: Environmental accounting is a system for measuring and communicating a business's
environmental performance. It helps track the use of natural resources, associated costs, and income
ai
transparently. This concept aims to record and document environmental impacts to enhance
environmental management, compliance, safety, and quality control. It also provides a database for
r
tta
corrective actions and future strategies, giving organizations a competitive edge. Environmental
accounting is evolving and promoted by various enterprises globally.
a
5. Possible objections to segmental reporting
Bh
Ans: The possible objections to segmental reporting can be enumerated as below:
(i) It is generally felt that segmental revenues andexpensesarenotdistinguishableobjectivelyinmany
y
cases.Revenuesofaweakproductlinemaybederivedonlybecauseoftheexistenceofastrongproduct
a
line. Also many joint costs are only separable arbitrarily.
in
(ii)Much of segmental results depend on the inter-departmental transfer pricingswhicharenotalways
logically established.
:B
(iii)Various segments of anenterprisemayusecommonresourceswhichmakesitdifficulttoarriveata
segment wise performance ratio.
(iv)Since the users are in no position to know the proper base for cost allocation, the segment results
by
would be less than meaningful.
(v)The last objection consists ofthecompetitiveimplicationstothefirm.Someacademicscontendthat
d
company secrets will be disclosed while others referred to the competitive hardship suffered by some
le
firmsifsegmenteddataisrequired.SupposethatCompanyX,asmallcompany,hasasegmentidentical
to one in Company Y, a huge conglomerate. Company X would have to disclose the segment while
pi
Company Y would not because the segment is not considered material to Y's operations.
om
6. Explicit Statement of Compliance with NFRS
Ans: AnentitywhosefinancialstatementscomplywithNFRSsshallmakeanexplicitandunreserved
C
statementofsuchcomplianceinthenotes.Anentityshallnotdescribefinancialstatementsascomplying
withNFRSsunlesstheycomplywithalltherequirementsofNFRSs.Thefinancialstatementswithsuch
disclosure are accepted as financial statements prepared in compliance with NFRS. An entity cannot
rectifyinappropriateaccountingpolicieseitherbydisclosureoftheaccountingpoliciesusedorbynotes
or explanatory material.
Compiled by : Binay Bhattarai
7. Interest in another entity.
Ans: Nepal Financial Reporting Standard(NFRS) 12 on Disclosure of Interest in Other Entities‟
describethisasacontractualandnon-contractualinvolvementofanentityinanotherentitythatexposes
anentitytovariabilityofreturnsfromtheperformanceoftheotherentity.Aninterestinanotherentity
canbeevidencedby,butisnotlimitedto,theholdingofequityordebtinstrumentsaswellasotherforms
ai
ofinvolvementsuchastheprovisionoffunding,liquiditysupport,creditenhancementandguarantees.It
includes the means by which an entity has control or joint control of, or significant influence over,
r
tta
another entity.
8. Stress testing for banks
a
Ans: An analysis conducted under unfavorable economic scenarios which is designed to determine
Bh
whether a bank has enough capital to withstand the impact of adverse developments. Stress tests can
either be carried out internally by banks as part of their own risk management, or by supervisory
y
authorities as part of their regulatory oversight of the banking sector. These tests are meant todetect
a
weak spots in thebankingsystematanearlystage,sothatpreventiveactioncanbetakenbythebanks
in
andregulators.Stresstestingshouldbedesignedtoprovideinformationonthekindsofconditionsunder
which strategies or positions would be most vulnerable, and thus may be tailored to the risk
:B
characteristics of the bank. Possible stress scenarios might include:
• abrupt changes in the general level of market rates;
• changes in the relationships among key market rates (i.e. basis risk);
by
• changes in the slope and the shape of the yield curve (i.e. yield curve risk);
• changes in the liquidity of key financial markets or changes in the volatility of market rates; or
d
• conditions under which key business assumptions and parameters break down
le
9. Debt Securitisation
pi
Ans: Debt securitisation is a method of recycling of funds. It is especially beneficial to financial
om
intermediariestosupportthelendingvolumes.Assetsgeneratingsteadycashflowsarepackagedtogether
andagainstthisassetspoolmarketsecuritiescanbeissued.Theprocesscanbeclassifiedinthefollowing
three functions.
C
1.Theoriginationfunction:Aborrowerseeksaloanfromfinancecompany,bankorhousingcompany.
On the basis of credit worthiness repayment schedule is structured over the life of the loan.
Compiled by : Binay Bhattarai
2.Thepoolingfunction:Similarloansorreceivablesareclubbedtogethertocreateanunderlyingpoolof
assets.ThispoolistransferredinfavourofaSPV(SpecialPurposeVehicle),whichactsasatrusteeforthe
investor. Once, the assets are transferred they are held in the organizers portfolios.
3. The securitisation function: It is the SPV‟s jobtostructureandissuethesecuritiesonthebasisof
assetpool.Thesecuritiescarrycouponandanexpectedmaturity,whichcanbeassetbasedormortgage
based. These are generally sold to investorsthroughmerchantbankers.Theinvestorsinterestedinthis
type of securities are generally institutional investors like mutual fund, insurance companies etc. The
ai
originator usually keeps the spread. Generally, the process of securitisation iswithoutrecoursei.e.the
investorbearsthecreditriskofdefaultandtheissuerisunderanobligationtopaytoinvestorsonlyifthe
r
tta
cash flows are received by issuer from the collateral.
10. Operating Segment As per Nepal Financial Reporting Standard 8.
a
Ans: Operation Segments‟, an operating segment is a component of an entity
Bh
➢ that engages in business activities from which it may earn revenues and incur expenses (including
revenues and expenses relating to transactions with other components of the same entity),
y
➢whoseoperatingresultsareregularlyreviewedbytheentity‟schiefoperatingdecisionmakertomake
a
decisions about resources to be allocated to the segment and assess its performance, and
in
➢ for which discrete financial information is available
:B
11. List of contingent liabilities of Banks and Financial Institutions.
Ans: Contingent Liabilities of Banks and Financial Institutions are:
• Claims on Institution but not accepted by the institution
by
• Letter of credit • Rediscounted bills
• Full value of pre-matured guarantees
d
• Unpaid amount, if any, against investment in shares
le
•Ifthelicensedinstitutionhasenteredintoaforwardexchangecontractwithitscustomers,thefullvalue
of immature contract
pi
• The amount of Acceptances and Endorsements, Underwriting Commitments, Loan Commitments
om
• Unpaid Guarantee Claim
• Performance bonds, bid bonds, warranties, indemnities and standby letters of credit in relation to a
non-monetary obligation of counterparty under a particular transaction
C
• Counter Guarantee of Internationally Rated Banks
12. Features of service concession arrangements.
Ans: Some common features of service concession arrangements are described below:
•Thegrantorisapublicsectorentity,includingagovernmentalbody,oraprivatesectorentitytowhich
the responsibility for the service has been devolved.
Compiled by : Binay Bhattarai
• The operator is responsible for at least some of the management of the infrastructure and related
services and does not merely act as an agent on behalf of the grantor.
• The contract sets the initial prices tobeleviedbytheoperatorandregulatespricerevisionsoverthe
period of the service arrangement.
•Theoperatorisobligedtohandovertheinfrastructuretothegrantorinaspecifiedconditionattheend
of the period of the arrangement, for little ornoincrementalconsiderationirrespectiveofwhichparty
initially financed it.
ai
13. Define investment property and explain how the treatment of an investment property carried
r
tta
under the fair value model differs from an owner-occupied property carried under the revaluation
model.
Ans: An investment property is a property held to earn rentals or for capital appreciation or both,
a
rather than for:
Bh
▪ use in the production or supply of goods or services or for administration purposes; or
▪ sale in the ordinary course of business Theaccountingtreatmentforinvestmentpropertyisdifferent
y
from that of owner occupiedpropertybecauseinvestmentpropertiesareacquiredtoearnrentalsorfor
a
capitalappreciationorbothandthustheircashflowsarelargelyindependentofthosefromotherassets
in
heldbytheenterprise.Afterinitialrecognition,iffairvaluationmodelisadopted,anentitymustmeasure
all investment properties at that value with any gains/losses being included in net profit/loss for the
:B
periodinwhichitarises.Thisdiffersfromanowneroccupiedpropertycarriedunderrevaluationmodel
because inthecaseofthelatter,theresultantgain/surplusisdealtwithinothercomprehensiveincome
and held in equity.
by
14. Opportunity cost in the context of human resource accounting.
d
Ans: Itisoneoftheeconomicvaluemodelsusedformeasurementandvaluationofhumanassets.As
le
per this model,opportunitycostisthevalueofanemployeeinhis/heralternativeuse.Thisopportunity
cost is used as a basis for estimating the value of Human Resources. Opportunity cost value may be
pi
established by competitive bidding within the firm so that in effect, managersmustbidforanyscarce
om
employee.Ahumanassetwillhaveavalueonlyifitisascarceresource,thatis,whenitsemploymentin
one division denies it to anotherdivision.Thismethodexcludesemployeesofthetypeofwhichcanbe
readily hired from outside the firm. Also,itisinveryrarecasesthatmanagerswouldliketobidforan
C
employee.
15. Currency Option
Ans: Currencyoptiongivestheclienttheright,butnottheobligation,tobuy/sellaspecifiedamountof
currency at a specified price on a specified date. Currency option provides a tool for hedging foreign
exchangeriskarisingoutofthefirm’soperation.Currencyoptionsenablethebusinesshousetoremove
Compiled by : Binay Bhattarai
downside risk without limiting the upside potential. Options can be put option or call option. A put
option is a contract that specifies the currency that the holder has the right to sell. A call optionisa
contract that specifies the currency that the holder has the right to buy.
16.YouworkforLaliguransLtd.andtheFinanceDirectorofthecompanyhasaskedyouradviceon
the preparation of the financial statement for the fiscal year ended 32nd Ashadh, 2075 on the
following:
ai
i)Theinventoryatthefiscalyear-endincludesgoodsthatwerepurchasedbyLaliguransLtd.undera
consignmentagreement.TheagreementisthatLaliguransLtd.canreturnthegoodsatanytimeand
r
tta
the price will be determined by market change.
ii)TheBoardofDirectorsofLaliguransLtd.meton1stAshadh,2075andagreedonadecisiontosell
a warehouse. At the fiscal year end, the warehouse is on the market and a saleisconsideredtobe
a
highlylikely.Required:Explaintheaccountingtreatmentandtheimpactonthefinancialstatements
Bh
referring to the relevant provision of Nepal Financial Reporting Standards.
Ans: a) i) The consignment inventory should be accounted for by reference to the substance of the
y
transaction, which means by looking at the commercial substance rather than the legal form of the
a
transaction.LaliguransLtd.needstoconsiderwhethertheyhaveriskandrewardsofthisinventory.The
in
factthattheLaliguransLtd.hastherighttoreturnthegoodsatanytimealongwiththefactthattheprice
may change would indicate that Laligurans Ltd. does not have the risk of ownership. The inventory
:B
should not be included within Laligurans Ltd.’s inventory and the transaction should be reversed.
ii) The following conditions need tobemettodecideifthewarehouseshouldbeclassifiedasanassets
by
held for sale under NFRS 5. The conditions are that management are committed to a plan and the
warehouseareavailableforimmediatesale.Theyshouldbeactivelylookingforabuyerandasaleneeds
d
to be highly probable with no expected changes. Basedonthefactsgiven,itseemsthatthewarehouse
le
meetstheseconditionsbutthiswouldneedtobeconfirmed.Ifthisisthecase,thenthewarehouseshould
be moved from non-current assets into assets held for sale. The warehouse should bemeasuredatthe
pi
lower of carrying value and fair value less cost to sale. Depreciation on warehouse should cease.
om
17. Human resource accounting and its need
Ans: Humanresourceaccountingistheprocessofidentifyingandreportinginvestmentsmadeinthe
C
human resources of an organization that are presently unaccountedforintheconventionalaccounting
practices. It is an extension of standard accounting principles. Measuring the value of the human
resources can assist organizations in accurately documenting their assets.
Need for human resource accounting:
Compiled by : Binay Bhattarai
i)Underconventionalaccounting,noinformationismadeavailableaboutthehumanresourcesemployed
in an organization, and without people the financial and physical resources cannot be operationally
effective.
ii)Humanorganizationexpensesareexpensedimmediately,distortingnetincomeandcomplicatingfirm
and inter-firm comparisons.
iii)Firmsuccessdependsonhumanassets,leadingtovaryingreturnsevenwithidenticalphysicalassets.
Ignoring human asset value makes firm valuation challenging.
ai
iv)Ifthevalueofhumanresourcesisnotdulyreportedinprofitandlossaccountandbalancesheet,the
important act of management on human assets cannot be perceived.
r
tta
v) Conventional accounting treatsrecruitmentandtrainingexpensesasimmediateexpenses.However,
they should be considered investments because their benefits are realized over time.
a
18. Option contract and its features
Bh
Ans: Optioncontractisaderivativeinstrumentunderwhichabuyergetstherighttobuyorsellanda
sellerundertakesanobligationtosellorbuyagivenquantityoftheunderlyingassetatagivenpriceata
y
given future dateforapaymentofoptionpremiumbythebuyertotheseller.Forexample;equityshare
a
option (eg. Nabil Bank option), commodity options (eg. Gold/silver option). Features of option contract:
in
i)Onlythesellerofanoptionisunderanobligationtosell/buytheunderlyingassetasandwhenthebuyer
exercise his right.
:B
ii)Buyerofanoptionpaystheoptionpremiuminfulltothesellerofanoptionatthetimeofbuyingan
option.
iii)Forbuyerofanoption,profitsarepotentiallyunlimitedandlossesarelimitedtotheoptionpremium
by
paid to the seller. For seller of an option, profits are limited to the option premiumreceivedfromthe
buyer and losses are potentially unlimited. iv) Only seller/writer is required to pay the margin.
d
le
19. Limitations of value added statement
Ans: Following are the limitations of value added statement:
pi
i) Preparation and presentation of value added statement (VAS) may lead to information overload and
om
confusion, as an ordinary employee reading his company's corporate annual report may notbeableto
reconcile the value added statement with the earnings statement.
ii) It raises a danger that management may take the maximization of value added as theirgoali.e.the
C
inclusion of the value added may wrongly lead management to pursue maximization of firms value.
iii)Itsinclusioninthecorporateannualreportwouldinvolveextrawork,therefore,extracostsanddelay
and also a slight loss of confidentiality in view of the additional disclosure involved.
iv) The mostseverelimitationofvalueaddeddataemergesfromlackofanyuniformityandconsistency
amongst different companies in the preparation and presentation of VAS.
Compiled by : Binay Bhattarai
v)SincetherearevariousmethodsofcalculatingVA,itisdifficulttomakeinter-firmcomparisons.Even
intra-firmcomparisonisnotpossibleifthetreatmentoftheseitemsischangedinthesubsequentyears.
vi) VAS may lead to confusion especially in the cases where wealth or value added isincreasingwhile
earnings are decreasing.
20. Arguments for accounting of share-based payment.
Ans: Where shares are issued for no cash consideration, it can be argued that there isacosttothe
owners of the business by dilution of their holding. Accounting for share-based payment allows
ai
comparisonbetweencompaniesthatremuneratetheirstaffindifferentways,someincashconsideration,
whileothersuseamixtureofcashconsiderationandshare-basedpayment.Theshareoptionshavebeen
r
tta
issuedinreturnforvaluableresources(e.g.employeeservices).Theseresourcesarenotreceivedincash,
as they are for othercapitalbecausetheresourcesareconsumedbytheentityastheyareprovided,but
nevertheless they have been received and should be accounted for. This consumption of resources
a
providedmeetstheConceptualFrameworkdefinitionofanexpensesoashare-basedpaymentexpenseis
Bh
justified.
y
21. Techniques of inflation accounting
Ans: a
Inflation accounting refers to theprocessofadjustingthefinancialstatementsofacompanyto
in
show the real financial position of the company during an inflationary period.
i) Current Purchasing Power (CPP) Method – It involves adjustment of financial accounts to price
:B
changes. A general price index is used to convert the valuesofvariousitems.Ittakesintoaccountthe
purchasingpowerofmoneyandignorestheriseandfallinthepriceofanitem.Itinvolvesadjustmentof
historical figures at current purchasing power which is done through multiplication of the historical
by
figures by a conversion factor.
ii) CurrentCostAccounting(CCA)Method–Underthismethodassetsareshownatcurrentcostsand
d
profits are determined on the basis of costs at the date of sale rather than the actual cost. CCA isan
le
alternativetotheCPPmethod.TheCCAmethodmatchescurrentrevenueswiththecurrentcostofthe
resources which are consumed in earning them.
pi
om
22. M Ltd. is amanufacturingcompanywhichpreparesitsfinancialstatementsincompliancewith
Nepal Financial Reporting Standards (NFRS). The following transactions took place for the year
ended 32nd Ashadh, 2075:
C
i)MLtd.hastraditionallyrepainteditspremiseseveryfiveyears.Thenextpaintingisdueinayear’s
time. The entity proposes to accrue as a provision the expected cost of repainting the premises.
ii) M Ltd. has guaranteed the debts of its associate company up to a maximum amount of Rs. 75
million. The associate is in excellent financial healthandthedirectorsareoftheopinionthatitis
unlikely the guarantee will ever be called in.
Compiled by : Binay Bhattarai
Required: Explain in briefhoweachoftheabovetransactionsandeventsshouldberecordedbyM
Ltd. in compliance with the requirements of NAS 37 Provisions, Contingent Liabilities and
Contingent Assets.
Ans: a) i) No present obligation exists to paint the premises; hence the accrualofaprovisionisnot
permitted by NAS 37. No contingent liability exists either, unless a commitment has been made to a
supplier to carry out the work.
ii) There is a present obligation, as the entity has undertaken to guarantee the debts ofanotherparty.
ai
However,itseemsunlikelythatthisguaranteewillbecalledin.Hence,itisnotprobableatthereporting
datethatanoutflowofresourceswillberequiredtosettletheobligation.Thereforethesecondcondition
r
tta
has not been met, and no provision should be recognised in the financial statements. If an outflowof
resourcesisjudgedpossiblebutnotremote,disclosureofacontingentliabilityofRs.75millionshouldbe
made in the notes.
a
Bh
23. Explain the circumstances under which a provision should be recognized in the financial
statements according to the International Accounting Standards.
y
Ans: As per NAS 37, provisions must be recognized in the following circumstances:
a
1. There is a legal or constructive obligation to transfer benefits as a result of past events.
in
2. It is probable an outflow of economic resources will be required to settle the obligation.
3. A reasonable estimateoftheamountrequiredtosettletheobligationcanbemade.Ifacompanycan
:B
avoid expenditure by its future action, no provision should be recognized.
24. ABC Ltd., a company belonging to theprocessindustrycarriesoutthreeconsecutiveprocesses.
by
The output of the first process is taken as input of the second process and output of the second
process is taken as the input of the third process. It is also possible tooutsourcetheintermediate
d
products. It has been observed that over the period of time, cost of production of first process is
le
substantiallyhigherthanthemarketpriceoftheintermediateproductfreelyavailableinthemarket.
The Board of Directors (BOD) of ABC Ltd. decided to close down the process as the cost saving
pi
strategy and outsource the intermediate products for further processing.
om
Required: Should the decision of the BOD amounts to discontinuing operation? Explain with the
relevant provision of Nepal Accounting Standard.
Ans: The decision of the Board of Directors of the ABC Limited is to outsource the intermediate
C
productsofoneprocessintheseriesofprocesses.Thedecisionresultsintotheclosureoffirstprocessof
the company. The decision of the company is made in the ground of cost savings and to achieve the
productivityimprovements.Theclosureoftheprocessdoesn’tmeetthecriteriaofNFRS-5,“Non-Current
Assetsheldforsaleanddiscontinuedoperation”namelydisposingmajorlineofbusinessorgeographical
areasorsubsidiaryacquiredforresale.Hence,thedecisionoftheBoardofDirectorsoftheABCLimited
is merely a cost saving decision not the discontinued operation.
Compiled by : Binay Bhattarai
25. Entity A is preparing its groupaccountsfortheyearendedAshadhend2071,andhasacquired
investment in B entity. The whole of the share capitalofBwasacquiredonMagh01,2070,witha
view to selling the subsidiary within a year. Atthedateofacquisition,theestimatedfairvalueless
costtosellofBisRs.27crore.(ThefairvalueoftheliabilitiesisRs.8crore.)Atyearend,(Ashadhend
2071),theestimatedfairvaluelesscoststosellisRs.26crore.(ThefairvalueoftheliabilitiesisRs.7
crore.). Required: Discuss how the investment should be treated in the consolidated financial
ai
statements of a group for the year ended Ashadh end 2071.
Ans: Entity B, whichwasacquiredonMagh01,2070,willhavetobeaccountedforunderNFRS5.It
r
tta
willmeetthecriteriaasbeingheldforsaleand,therefore,mustbeaccountedforinthisway:Initially,the
fairvalueoftheassetswouldberecordedatRs.27croreplusRs.8crore,whichisRs.35crore.Thefair
value of the liabilities would be recorded at Rs. 8 crore. At the first balance sheetdate,Awillhaveto
a
re-measuretheinvestmentinentityBatthelowerofitscostandfairvaluelesscosttosell,whichwillbe
Bh
Rs. 26 crore. The assetsandliabilitieswillhavetobepresentedseparatelyintheconsolidatedfinancial
statements from any other assets and liabilities. The total assets at yearend Ashad end will be shown
y
separately as Rs. 33 crore and the total liabilities will be shown separately Rs. 7 crore. Obviously the
subsidiary is not consolidated as such. a
in
26.Howarecapitalexpenditures,notrepresentedbyanyspecificortangibleassets,dealtinfinancial
:B
statements?
Ans: Sometimes,projectsarerequiredtoincurcapitalexpendituresthataren'tassociatedwithspecific
tangible assets. For instance, a project might have to cover the cost of laying pipelines, which are
by
considered property of relevant authorities like a port trust, even if the company pays for them to
facilitateitsoperations.Insuchcases,thiscapitalexpenditureshouldberecordedinthebooksunderthe
d
heading of "Capital Expenditure," provided that two conditions are met: the balancesheetdescription
le
shouldmakeitclearthattheexpenditureisn'trepresentedbycompany-ownedassets,andtheexpenditure
should be amortized over its utility period or a relatively brief duration, not exceeding five years,
pi
whichever is shorter. This classification is more suitable than expending it torevenueorlabelingitas
om
"Miscellaneous Expenditure."
27. Give an account of the growing scope of human capital reporting.
C
Ans: The growing scope of human capital reporting is on account of:
1. Recent Reporting Trends: ln the recent years, there isagrowingtrendofshiftfromthetraditional
focus on financial reporting of such resources, which can be measured in monetary terms, to a more
comprehensive approach.
2. Purpose: Human Capital Reporting Provides scope for planning and decision making inrelationto
proper manpower planning.
Compiled by : Binay Bhattarai
3. HR policies:lt is a basis for HR policies, Such as training policy wage policy etc.
4. Inter-firm Comparison: lt also provides help in inter- firm comparison with general industry
standards.
5. Use of fund: Human Capital reporting provides information for allocation and use of funds. It
identifies and reports the investment to be made in human resources.
28. Discuss the advantages and disadvantages of setting of accounting standards.
ai
Ans:AccountingStandardsareprescribedbyICAN,whicharetobefollowedinperformingaccounting
transactions. Various accounting principles, techniques and methods are described in these standards,
r
tta
whichassisttheusersinpreparationandpresentationoffinancialstatements,withatrueandfairview.
The various advantages of setting accounting standards are as follows:-
1. Accounting standards reduces the possibilities of variation in the accounting treatment used while
a
preparing financial statements.
Bh
2.Accountingstandardscallforcertaindisclosureswhichmakesthefinancialstatementmoretrue&fair.
3. Accounting standard makes comparison of financial statements possible.
y
Disadvantages of setting Accounting Standard:
a
1.Accountingproblemsmayhavealternativesolutions.AccountingStandardsmakesthechoicebetween
in
different alternative accounting treatments difficult.
2. Accounting standards leads to rigidity and is less flexible.
:B
3. Accounting standards are framed within the limits set by statutes. It cannot overrule the statutes.
29. Treatment of the cost of internally generated software.
by
Ans: Internally generated software should be treated according to provisionsofNAS38,Intangible
Assets. As per NAS 38, Intangible Assets an Intangible asset shall be recognized if, and only if,
d
➢ Itisprobablethattheexpectedfutureeconomicbenefitthatareattributabletotheassetwillflowto
le
the entity; and
➢ The cost of the asset can be measured reliably.
pi
To assess whether as internally generated intangible asset meets the recognition criteria, an entity
om
classifiesthegenerationofassetintoaresearchphaseandadevelopmentphase.Intangibleassetarising
from research shall not be recognized and theexpenditureonresearchphaseshallberecognizedasan
expenses when it is incurred. An intangible asset arising from developmentshallberecognizedif,and
C
only if, an entity can demonstrate all of the following:
• The technical feasibility of completing the intangible asset so that it will be available for use or sale;
• Its intention to complete the intangible asset and use or sell it;
• Its ability to use of sale the intangible asset;
Compiled by : Binay Bhattarai
• How the intangible asset will generate probable future economic benefits. Among other things, the
entitycandemonstratetheexistenceofamarketfortheoutputoftheintangibleassetor,ifitistobesued
internally, the usefulness of such asset;
•Theavailabilityofadequatetechnical,financialandotherresourcestocompletethedevelopmentandto
use or sale the software;
•Itsabilitytomeasurereliablytheexpenditureattributabletothesoftwareduringitsdevelopment.Ifthe
entitycannotdistinguishtheresearchphasefromthedevelopmentphaseofaninternalprojecttocreate
ai
anintangibleasset,orisnotabletodemonstratetheoccurrenceofdevelopmentphase,theentitycharges
the expenditure incurred on software to the statement of income.
r
tta
30. Matters to be included in annual reports in cases of material environmental impacts by
actions/operations of a company.
a
Ans: In cases where there are material environmental impacts, they will normally expect to see a
Bh
statement of corporate commitment, policies and strategy, showing the importance attached to such
issues. There could well be a competitive advantage to be gained from being seen as a leader in
y
responsibleenvironmentalpractices.Thestatementwouldusuallydealwiththeoverallcontroloversuch
a
issues, whether through a committee of the board or a senior manager with practical experience of
in
environmental issues in a corporate context. Most users,particularlyinvestorsandlenders,willalsobe
concerned to know whether there are any material financial impacts, actual or potential, arising from
:B
environmental issues. Where thisisthecase,discussionofenvironmentalrisksanduncertaintiesinthe
annualreport,togetherwiththerelatedactiontaken,maythereforebeappropriateaswellasinformation
about environmental performance. Depending on the nature of the entity, there could be a call for
by
informationaboutmatterssuchassiteremediation,disposalofwaste,resourcerecyclingorsupplychain
performance.Inidentifyingtheenvironmentalmatterslikelytobeofparticularconcerntoreportusers,
d
some form of stakeholder engagement is beneficial. In reviewing a company’s annual report, the
le
environmentalmattersattractingattentionwilltendtovaryaccordingtoitsnature,sizeandgeographical
location but, where environmental matters are significant, willgenerallyfallwithinthefollowingmain
pi
areas:
om
• Commitments, policies and strategies.
• Environmental management
• Principal environmental impacts.
C
• Environmental performance – absolute and relative.
• Fines, penalties or awards. In appropriate cases, it is often helpful to users if reference is made to
compliance with environment laws, or The Natural Step, or certification to a particular standard or
Project Acorn(life). This would normally help to demonstrate the adoption of desirable environmental
policies.
Compiled by : Binay Bhattarai
31. Embedded derivatives
Ans: An embedded derivative is a component ofahybrid(combined)instrumentthatalsoincludesa
nonderivativehostcontractwiththeeffectthatsomeofthecashflowsofthecombinedinstrumentvary
in a way similar to a standalone derivative.
An embedded derivative causes some or all of the cash flows that otherwise would be requiredbythe
contract to be modified according to a specified interest rate, financial instrument price, commodity
price, foreign exchange rate, index of prices or rates, credit rating or credit index, or other variable,
ai
provided in the case of a nonfinancial variable that the variable is not specific to a party to the contract.
r
tta
Aderivativethatisattachedtoafinancialinstrumentbutiscontractuallytransferableindependentlyof
thatinstrument,orhasadifferentcounterpartyformthatinstrument,isnotanembeddedderivative,but
a separate financial instrument.
a
Bh
An embedded derivative should be separated from the host contractandaccountedforasderivativeif,
and only if;
y
(i) The economic characteristics and risks of the embedded derivative are not closely related to the
economic characteristics and risks of the host contract.a
in
(ii)Aseparateinstrumentwiththesametermsastheembeddedderivativewouldmeetthedefinitionofa
derivative; and
:B
(iii) The hybrid instrument is not measured at fair value with changes in fair value recognized in the
statementofprofitandloss(i.e.aderivativethatisembeddedinafinancialassetorfinancialliabilityat
fair value through profit or loss is not separated).
by
32. During the year ended 31 Ashadh, 2077, Dorjee provided consultancy service to a customer
d
regarding the installation of a new production system. The system has caused the customer
le
considerable problems, so the customer has taken legalactionagainstDorjeeforthelossofprofits
thathasarisenasaresultoftheproblemswiththesystem.Thereisa25%chancethattheclaimcan
pi
be successfully defended, but a 75% chance that Dorjee will be required to pay damage of Rs. 1.6
om
millions.Dorjeeiscoveredbyinsuranceagainstthistypeoflossandaclaimwillbemadeassoonas
theoutcomeofthecaseisconfirmed.Noaccountinghastakenplacebecausetheclaimisexpectedto
exactly offset against the damages payable. Advise Dorjee about accounting treatment.
C
Ans: Itisnecessarytoconsiderthetwopartsofthisissueseparately.Theclaimmadebythecustomer
needstoberecognisedasaliabilityinthefinancialstatementsfortheyearended31Ashad,2077.NAS37,
Provisions,ContingentliabilitiesandContingentAssetsstatesthataprovisionshouldbemadewhen,at
the reporting date:
(i) An entity has a present obligation arising out of past events
ii) There is a probable outflow of economic benefits.
Compiled by : Binay Bhattarai
iii)Areasonableestimatecanbemadeoftheoutflow.Allthreeofthoseconditionsaresatisfiedhere,and
soaprovisionisappropriate.Theprovisionshouldbemeasuredastheamounttheentitywouldrationally
pay to settle the obligation of the reporting date. Where there is a range of possible outcomes, the
individual most likely outcomeisoftenthemostappropriatemeasuretouse.Inthiscaseaprovisionof
Rs. 1.6 millions seems appropriate, with corresponding charge to profit or loss The insurance claim
against Dorjee’s supplier is a contingent asset. NAS 37 states that contingent assets should not be
recognised until their realization is virtually certain, but should be disclosed wheretheirrealizationis
ai
probable.Thisappearstobethesituationhere.Thereforethecontingentassetwouldbedisclosedinthe
financial statement. Any credit to profit or loss arises when the claim is settled.
r
tta
33. Economic entity principle of accounting
Ans: The economic entity principle requires keeping the financial activities of a business entity
a
separate from those of its owner(s) and other entities. This means maintaining separate records, bank
Bh
accounts,andnotmixingassetsandliabilitieswithpersonalfinances.Variousformsofbusinessentities
must adhere to this principle, and commonly-owned groups are often treated as a single entity for
y
consolidated financial statements. Sole proprietorships can face challenges in maintaining this
a
separation, especially during the initial stages. In such cases, professional accountants may need to
in
untangle and properly categorize transactions.
:B
34. Objectives of financial reporting
Ans: The following are the objectives of financial reporting:
(i) To provide information that is useful to presentandpotentialinvestors,creditorsandotherusersin
by
making rational investment, credit and similar decisions.
(ii) To provide information to help investors, creditors and others to assess the amount, timing and
d
uncertainty of prospective net cash inflows to the related entity.
le
(iii) To provide information about an entity’s financial performance during a period.
(iv) To give information about an entity’s performance provided by measures of earnings and its
pi
components.
om
(v) To provide information about how management of an entity has discharged its stewardship
responsibility to owners for the use of entity resources entrusted to it.
C
35. Recognition of impairment losses in the financial statements
Ans: An impairment loss is normally charged immediately in the Income Statement / Statement of
ComprehensiveIncome,tothesameheadingastherelateddepreciation(i.e.costofsales,administration
or distribution). That is: Debit Income Statement and Credit Asset Account with the amount of the
impairment loss.
Compiled by : Binay Bhattarai
But,iftheassethaspreviouslybeenrevaluedupwards,theimpairmentshouldbetreatedasarevaluation
decrease (and shown in “Other Comprehensive Income”).
Thatis,thelossisfirstsetagainstanyrevaluationsurplusforthatassetuntilthesurplusrelatingtothat
asset has been exhausted.
Then,anyexcessisrecognisedasanexpenseintheIncomeStatement.Afteradjustingfortheimpairment
loss, the new carrying amount is written off over the remaining useful life of the asset.
Any related deferred tax assets or liabilities are determined under NAS 12 by comparing the revised
ai
carrying value of the asset with its tax base.
r
tta
36. Cash generating unit and reason of impairment based on it rather than individual assets.
Ans: A cash generating unit is defined as the smallest possible identifiable group of assets that
generatescashinflowsthatarelargelyindependentofthereportingentity’sothercashgeneratingunits.
a
Identifying the smallest possible group of assets is important as this means there will be fewerassets
Bh
within each cash generating unit.
Todeterminewhetherimpairmentofacashgeneratingunithasincurred,itisnecessarytocomparethe
y
carrying amount of the asset with its recoverableamount.Therecoverableamountisthehigheroffair
value less costs of disposal and value in use. a
in
It is not always easy to estimate value in use.Inparticular,itisnotalwayspracticabletoidentifycash
flowsarisingfromanindividualnoncurrentasset.For,example,theindividualassetsinasupermarketare
:B
unlikely to generate cash flows in their own right,butwhencombined(asacashgeneratingunit),itis
possibletoidentifythecashflows.Ifthisisthecase,valueinuseshouldbecalculatedatthelevelofcash
generating unit.
by
37. Is hedging a diversification? Explain with examples.
d
Ans: It'simportanttonotethathedgingisnotthesameasportfoliodiversification.Diversificationisa
le
portfolio management strategy that investors use to smooth out specific risk in one investment,while
hedginghelpstodecreaseone'slossesbytakinganoffsettingposition.Ifaninvestorwantstoreducehis
pi
overallrisk,theinvestorshouldnotputalloftheirmoneyintooneinvestment.Investorscanspreadout
om
their money into multiple investments to reduce risk.
Forexample,supposeaninvestorhasRs.500,000toinvest.Theinvestorcandiversifyandputtheirmoney
into multiple stocks in various sectors, real estate and bonds. This technique helps to diversify
C
unsystematicrisk;inotherwords,itprotectstheinvestorfrombeingaffectedbyanyindividualeventin
an investment.
When an investor is worried about anadversepricedeclineintheirinvestment,theinvestorcanhedge
theirinvestmentwithanoffsettingpositiontobeprotected.Forexample,supposeaninvestorisinvested
in100sharesofstockinoilcompanyXYZandfeelsthattherecentdropinoilpriceswillhaveanadverse
effect on itsearnings.Theinvestordoesnothaveenoughcapitaltodiversifytheirposition;instead,the
Compiled by : Binay Bhattarai
investordecidestohedgetheirpositionbybuyingoptionsforprotection.Theinvestorcanpurchaseone
putoptiontoprotectagainstadropinthestockprice,andpaysasmallpremiumfortheoption.IfXYZ
missesitsearningsestimatesandpricesfall,theinvestorwilllosemoneyontheirlongposition,butwill
make money on the put option, which limits losses.
38. When does debt seem to be equity?
Ans: Many financial instruments have both features of debt and equity that this can lead to
inconsistencyofreporting.Itisnotalwayseasytodistinguishthedebtandequityinanentity'sstatement
ai
of financial position.
Thekeyfeatureofdebtisthattheissuerisobligedtodelivereithercashoranotherfinancialassettothe
r
tta
holder. In contrast, equity is any contract that evidences a residual interest in the entity's assets after
deductingallofitsliabilities.Thus,Afinancialinstrumentisanequityinstrumentonlyiftheinstrument
includes nocontractualobligationtodelivercashoranotherfinancialassettoanotherentity,andifthe
a
instrument will or may be settled in the issuer's own equity instruments.
Bh
Acontractisnotanequityinstrumentsolelybecauseitmayresultinthereceiptordeliveryoftheentity's
own equity instruments. The classification of this type of contract is dependent on whether there is
y
variabilityineitherthenumberofequitysharesdeliveredorvariabilityintheamountofcashorfinancial
a
assetsreceived.Acontractthatwillbesettledbytheentityreceivingordeliveringafixednumberofits
in
own equity instruments in exchange for a fixed amountofcash,oranotherfinancialasset,isanequity
instrument.
:B
However,ifthereisanyvariabilityintheamountofcashorownequityinstrumentsthatwillbedelivered
orreceived,thensuchacontractisafinancialassetorliabilityasapplicable.Otherfactorsthatmayresult
in an instrument being classified as debt are:
by
- Is redemption at the option of the instrument holder?
- Is there a limited life to the instrument?
d
- Is redemption triggered by a future uncertaineventthatisbeyondthecontrolofboththeholderand
le
issuer of the instrument?
- Are dividends non-discretionary?
pi
Similarly,otherfactorsthatmayresultintheinstrumentbeingclassifiedasequityarewhethertheshares
om
are non-redeemable, whether there is no liquidation date or where the dividends are discretionary.
Some instrumentsarestructuredtocontainelementsofbothliabilityandequityinasingleinstrument.
C
Suchinstruments–forexample,bondsthatareconvertibleintoafixednumberofequitysharesandcarry
interest – are accounted for as separate liability and equity components. 'Split accounting' is used to
measuretheliabilityandtheequitycomponentsuponinitialrecognitionoftheinstrument.Thismethod
allocates the fair value of the consideration for the compound instrument into its liability and equity
components.
Compiled by : Binay Bhattarai
40. Minimum components of an interim financial report.
Ans: An interim financial report may consist of a condensed versionofthefullfinancialstatements
andshouldincludeanexplanationoftheeventsandtransactionsthataresignificanttoanunderstanding
of the interim financial statements. At a minimum, they should include:
i) Condensed balance sheet
ii) Condensed income statement
iii) Condensed statement showing changes in equity
ai
iv) Condensed cash flow statement; and
v) Selected explanatory note
r
tta
If the entity publishes a set of condensed financial statements in its interim financial report, those
condensed statements should include, at a minimum each of the headings and subtotals that were
a
included in its most recent annual financial statements, together with selected explanatory notes as
Bh
outlinedbyNAS34.Therecognitionandmeasurementprincipleshouldbethesameasthoseusedinthe
main financial statements.
y
Additional line items or notes should be included if their omission would render the interim reports
a
misleading.Basicanddilutedearningspershareshouldbepresentedonthefaceofanincomestatement
in
for an interim period.
If, however, an entity chooses to publish a complete set of financialstatementsinitsinterimfinancial
:B
report, theformandcontentofthosestatementsmustconformtoNAS1foracompletesetoffinancial
statements.
by
41. Difference between Market Value Added and Economic Value Added.
Ans: MarketValueAdded(MVA)isthedifferencebetweenthecurrentmarketvalueofafirmandthe
d
capitalcontributedbyinvestors.IftheMVAispositive,thefirmhasaddedvalue.Ifitisnegative,thefirm
le
hasdiminishedvalue.Theamountofvalueaddedneedstobegreaterthanthefirm'sinvestorscouldhave
achievedinvestinginthemarketportfolio,adjustedfortheleverage(betacoefficient)ofthefirmrelative
pi
to the market.
om
The formula for MVA is:MVA = V-K
Where: MVA is market value added,Visthemarketvalueofthefirm,includingthevalueofthefirm's
equity and debt, and K is the capital invested in the firm.
C
Incorporatefinance,EconomicValueAdded(EVA),isanestimateofafirm'seconomicprofit–beingthe
value created in excess of the required return of the company's investors (beingshareholdersanddebt
holders).Quitesimply,EVAistheprofitearnedbythefirm,lessthecostoffinancingthefirm'scapital.
Theideaisthatvalueiscreatedwhenthereturnonthefirm'seconomiccapitalemployedisgreaterthan
the cost of that capital.
Compiled by : Binay Bhattarai
EVA is net operating profitaftertaxes(orNOPAT)lessacapitalcharge,thelatterbeingtheproductof
thecostofcapitalandtheeconomiccapital.Thebasicformulais:EVA=(r-c)*K=NOPAT-c*Kwhere
risthereturnoninvestmentcapital(ROIC);cistheweightedaverageofcostofcapital(WACC);Kisthe
economic capital employed; NOPAT is the net operating profit after tax.
Thefirm'smarketvalueaddedisthediscountedsum(presentvalue)ofallfutureexpectedeconomicvalue
added: MVA = Present Value of a series of EVA values.
ai
42. Classification of assets held for sale
Ans: Anon-currentasset(ordisposalgroup)shouldbeclassifiedasheldforsaleifitscarryingamount
r
tta
willberecoveredprincipallythroughasaletransactionratherthanthroughcontinuinguse.Anumberof
detailed criteria must be met:
a) The asset must be available for immediate sale in its present condition.
a
b) Its sale must be highly probable (i.e. significantly more likely than not). For the sale to be highly
Bh
probable for immediate sale in itspresentcondition.a)Managementmustbecommittedtoplantosell
the asset.
y
c) There must be an active programme to locate a buyer.
a
d) The asset must be marketed for sale at a price that is reasonable in relation to its current fair value.
in
e)Thesaleshouldbeexpectedtotakeplacewithinoneyearfromthedateofclassification.Itisunlikely
that significant changes to the plan will be made or that the plan will be withdrawn.
:B
Anassetcanstillbeclassifiedasheldforsale,evenifthesalehasnotactuallytakenplacewithinoneyear.
However, the delay must have been caused by events or circumstances beyond theentity’scontroland
by
there must be sufficient evidence that the entity is still committed to sell the asset or disposal group.
Otherwise the entity must cease to classify the asset as held for sale.
d
Ifanentityacquiresanasset(adisposalgroup)(e.g.asubsidiary)exclusivelywithaviewtoitssubsequent
le
disposalitcanclassifytheassetasheldforsaleonlyifthesaleisexpectedtotakeplacewithinoneyear
anditishighlyprobablethatalltheothercriteriawillbemetwithinashorttime(normallythreemonths).
pi
An asset that is to be abandoned should not be classified as held for sale. Thisisbecauseitscarrying
om
amountwillberecoveredprincipallythroughcontinuinguse.However,adisposalgrouptobeabandoned
may meet the definition of a discontinued operation and therefore separate disclosure may be required.
C
43.AdirectorofRhivamCementLtd.hasexpressedconcernabouttheaccountingtreatmentofsome
of the company’s items of property, plant and equipment which have increased in value. Hismain
concernisthatthestatementoffinancialpositiondoesnotshowthetruevalueofassetswhichhave
increasedinvalueandthatthis‘undervaluation’iscompoundedbyhavingtochargedepreciationon
these assets, which alsoreducesreportedprofit.Hearguesthatthisdoesnotmakeeconomicsense.
Respond to the director’s concern in line with relevant NAS.
Compiled by : Binay Bhattarai
Ans: The requirements of NAS 16, Property, Plant and Equipment may, inpart,offerasolutiontothe
director’s concerns. NAS 16 allows (but does not require) entities to revalue their property, plant and
equipmenttofairvalue;however,itimposesconditionswhereanentitychoosestodothis.First,wherean
itemofproperty,plantandequipmentisrevaluedundertherevaluationmodelofNAS16,thewholeclass
ofassetstowhichitbelongsmustalsoberevalued.Thisistopreventwhatisknownas‘cherrypicking’
whereanentitymightonlywishtorevalueitemswhichhaveincreasedinvalueandleaveotheritemsat
their (depreciated) cost. Second, where an item of property,plantandequipmenthasbeenrevalued,its
ai
valuation(fairvalue)mustbekeptup-to-date.Inpractice,thismeansthat,wherethecarryingamountof
the asset differssignificantlyfromitsfairvalue,a(new)revaluationshouldbecarriedout.Evenifthere
r
tta
are no significant changes, assets should still be subject to a revaluation every three to five years.
Arevaluationsurplus(gain)shouldbecreditedtoarevaluationsurplus(reserve),viaothercomprehensive
a
income,whereasarevaluationdeficit(loss)shouldbeexpensedimmediately(assuming,inbothcases,no
Bh
previousrevaluationoftheassethastakenplace).Asurplusononeassetcannotbeusedtooffsetadeficit
on a different asset (even in the same class of asset). Subsequent to a revaluation, the asset should be
y
depreciatedbasedonitsrevaluedamount(lessanyestimatedresidualvalue)overitsestimatedremaining
a
usefullife,whichshouldbereviewedannuallyirrespectiveofwhetherithasbeenrevalued.Anentitymay
in
choose totransferannuallyanamountoftherevaluationsurplusrelatingtoarevaluedassettoretained
earnings corresponding to the ‘excess’ depreciation caused by an upwards revaluation. Alternatively,it
:B
may transfer all of the relevant surplus at the time of the asset’s disposal.
The effect of this, on company’s financial statements, is that itsstatementoffinancialpositionwillbe
by
strengthened by reflecting the fair value of its property, plant and equipment. However, the downside
(fromthedirector’sperspective)isthatthedepreciationchargewillactuallyincrease(asitwillbebased
d
on thehigherfairvalue)andprofitswillbelowerthanusingthecostmodel.Althoughthedirectormay
le
notbehappywiththehigherdepreciation,itisconceptuallycorrect.Thedirectorhasmisunderstoodthe
purpose of depreciation; it is not meant to reflect the change (increase in this case) in thevalueofan
pi
asset, but rather the cost of using up part of the asset’s remaining life.
om
44. Interest rate swaps.
Ans: Interest rate swap can be defined as a financial contract between two parties (called counter
C
parties)toexchangeonaparticulardateinthefuture,oneseriesofcashflows(fixedinterest)foranother
series of cash flows(variableorfloatinginterest)inthesamecurrencyonthesameprincipal(anagreed
amountcallednotionalprincipal)foranagreedperiodoftime.Thecontractwillspecifytheinterestrates,
the benchmarkratetobefollowed,thenotionalprincipalamountforthetransaction,etc.Interestrates
are of two types, fixed interest rates and floating rates which vary according to changes inastandard
Compiled by : Binay Bhattarai
benchmarkinterestrate.Aninvestorholdingasecuritywhichpaysafloatinginterestrateisexposedto
interest rate risk. The investor can manage this risk by entering into an interest rate swap.
45. Indicators of Finance Lease.
Ans:The indicators of finance lease are:
ai
1.Attheinceptionoftheleasethepresentvalueoftheminimumleasepaymentsamountstosubstantially
all of the fair value of the asset.
r
tta
2. The lease agreement transfers ownership of the asset to the lessee by the end of the lease.
3. The leased asset is of a specialized nature.
4. The lessee has theoptiontopurchasetheassetatapriceexpectedtobesubstantiallylowerthanthe
a
fair value at the date the option becomes exercisable.
Bh
46. Functional currency and key factors determining it.
y
Ans: Functional currency is the currency of the primary economic environment in which the entity
a
operates.Theprimaryeconomicenvironmentinwhichanentityoperatesisnormallytheoneinwhichit
in
primarily generates and expends cash.
An entity considers the following factors in determining its functional currency.
:B
(a) The currency:
(i)thatmainlyinfluencessalespricesforgoodsandservices(thiswilloftenbethecurrencyinwhichsales
prices for its goods and services are denominated and settled); and
by
(ii)ofthecountrywhosecompetitiveforcesandregulationsmainlydeterminethesalespricesofitsgoods
and services.
d
(b) The currency that mainly influences labour, material and other costsofprovidinggoodsorservices
le
(this will often be the currency in which such costs are denominated and settled).
pi
47. Corporate Social Responsibility.
om
Ans: Corporate social reporting is information communique with respect to discharge of social
responsibilitiesofcorporateentity.Through„CorporateSocialReport‟thecorporateenterprisesdisclose
themannerinwhichtheyaredischargingtheirsocialresponsibilities.Morespecifically,itisaddressedto
C
the public or society at large, although it can be squarely used by other user groups also.
In the given case, the group of companies has positively contributed to the social cause and the
commercial activities undertaken by them come under the purview of corporate social reporting.
Normally,suchinformationisnotrequiredtobegivenmandatorilyinthefinancialreportduetothelack
ofanygenerallyacceptedstandardofsocialresponsibilityforbusinessentities.However,everyoneagrees
Compiled by : Binay Bhattarai
thatallbusinessentitiesshouldbesociallyresponsiblebuthowtheindividualentityweighsitspriorities
of social responsibility depends on the personal choice or preference of the group of persons in the
management of an enterprise.
The group of companies (referred in the question) can highlight the results of various commercial
activities,undertakenbythemthrougha“notetoaccounts”whilepublishingfinancialstatementsforthe
year ended 2071-2072. In fact bringing out the results of such earth quake reliefactivitiesintheearth
ai
quakeaffectedareasmayimbibeasenseofsocialresponsibilityamongotherentitiesthrough“Corporate
Social Report”.
r
tta
48. Explain the concepts of ‘Fixed budget’, ‘rolling budget’ and ‘zero-based budget’.
Ans: A fixed budget is prepared before the budget period and remains unchanged throughout that
a
period. It's a periodic approach to budgeting, typically renewed annually,andissuitableforstableand
Bh
predictable environments.
A rolling budget, alsoknownascontinuousbudgeting,involvesregularlyreplacingaportionof
y
the budget period whilekeepingtheoverallperiodunchanged.Forinstance,inaone-yearbudget,each
a
quarter is updated at the end of that quarter to maintain a one-year projection. Thismethodisuseful
in
whendealingwithuncertaintyandchangingenvironments,makingitpopularamongneworganizations.
It's often employed for cash management and is facilitated by modern information technology.
:B
A zero-based budget rejects the incremental approach by requiring all plannedactivitiestobe
justifiedbasedontheircontributiontoorganizationalobjectives.Decisionpackagesareusedtocompare
andrankactivitiesfromacost-benefitperspective,offeringafreshperspectiveeachbudgetperiod.This
by
method is most beneficial for services and discretionary activities, commonly used in the public sector.
d
49. Write notes on forward contract and its accounting treatment.
le
Ans: Aforwardcontractisbasicallyacontractualagreementinwhichonepartybuysandotherparty
sells designated currency at a forward ratemutuallyagreedupononthedateofcontractfordeliveryat
pi
designated future date. Accordingly, An enterprise mayenterintoaforwardcontractorotherfinancial
om
instrumentthatisinsubstanceaforwardexchangecontracttoestablishtheamountofreportingcurrency
requiredoravailableatsettlementdateofatransaction.Thedifferencebetweentheforwardrateandthe
exchange rate at the date of transaction shouldberecognisedasincomeorexpenseoverthelifeofthe
C
contract,exceptinrespectofliabilitiesincurredforacquiringfixedassets,inwhichcase,suchdifference
should be adjusted in carrying amount of the respective fixed assets.
50. Challenges faced by BFI undergoing NFRS implementation.
Ans: Challenges faced by BFI undergoing NFRS implementation:
1. Technical Challenges:
Compiled by : Binay Bhattarai
a. Impairment of financial assets
b. Fair value measurement criteria for assets and liabilities
c. Consolidation of financial statements
d. Disclosures requirement
e. Income recognition
2. Other Challenges:
ai
a. Amendment to existing legal framework and policies
b. Shortage of trained and experienced resources
r
tta
c. Complexity in financial reporting
d. Increased initial cost
e. Measurement of business performance
a
Bh
51. Corporate Governance Reporting.
Ans: Corporate governance is about balancing the interests of a company's stakeholders, including
y
shareholders, management, customers, suppliers, financiers, government, and the community. It
a
encompasses various aspects of management, from internal controls to performance measurementand
in
disclosure, serving as the framework for achieving a company's goals. Profitability alone is no longer
sufficient;companiesalsoneedtoexhibitgoodcorporatecitizenshipbybeingenvironmentallyconscious,
:B
ethical, and practicing sound corporate governance. Achieving this involves transparency from
promoters, active shareholder participation, and effective regulation to protect stakeholder rights and
promote a culture of good corporate governance.
by
52. The significance of the earnings per share(EPS)figuretotheanalysisofcompanyperformance
d
based on NAS 33.
le
Ans: Significance of EPS.
1. EPS measures a company's profit per share, providing a relevant indicator for shareholders.
pi
2.EPSisusedintheprice/earningsratio,estimatinghowmanyyearsittakesforaninvestmentinashare
om
to return its value.
3. NAS 33 sets standard guidelines for calculating earnings and the number of shares for EPS.
4. Alternative EPS measures can be used, but NAS 33 must receive equal or greater prominence.
C
5. Relying on a single performance measure is risky, as no one measure captures all aspects of a
company's performance.
6. EPS is subject to accounting estimates and judgments, potentially misleading unsophisticated
investors.
7. NAS 33 is generally considered a fair method for calculating EPS, offering consistency andvalueto
investors and analysts.
Compiled by : Binay Bhattarai
53. Types of Hedging Relationship
Ans: Types of Hedging Relationship: There are three types of hedgeaccounting:fairvaluehedges,
cash flow hedges and hedges of the net investment in a foreign operation.
1.FairValueHedges:Theriskbeinghedgedinafairvaluehedgeisachangeinthefairvalueofanasset
oraliability.Forexamples,changesinfairvaluemayarisethroughchangesininterestrates(forfixed-rate
loans), foreign exchange rates, equity prices or commodity prices.
ai
2.CashFlowsHedges:Theriskbeinghedgedinacashflowhedgeistheexposuretovariabilityincash
flows that is attributable to a particularriskandcouldaffecttheincomestatement.Volatilityinfuture
r
tta
cash flows will result from changes in interest rates, exchange rates, equity prices or commodity prices.
3.Hedgesofnetinvestmentinaforeignoperation:Anentitymayhaveoverseassubsidiaries,associates,
joint ventures or branches (‘foreign operations’). It may hedge the currency risk associated with the
a
translation of the net assets of these foreign operations into the group’s currency.
Bh
54. Joint venture arrangement.
y
Ans: A joint venture is an association of two or more businesses established for a special purpose.
a
Somejointventuresareintheformofpartnershipsorotherunincorporatedformsofbusiness.Othersare
in
in the form of corporations jointly owned by two or more other firms.
:B
Theaccountingprinciplesforjointventuresareflexiblebecauseoftheirmanyforms.Thetypicalproblem
concernswhetherajointventureshouldbecarriedasaninvestmentorconsolidated.Somejointventures
are very significantinrelationtotheparentfirm.Thereistypicallyaquestionastowhethertheparent
by
firm has control or onlysignificantinfluence.Whentheparentfirmhascontrol,itusuallyconsolidates
jointventuresbyusingaproratashare.Otherjointventuresareusuallycarriedinaninvestmentaccount
d
by using the equity method. In either case, disclosure of significant information often appears in a note.
le
When a firm entersintoajointventure,itfrequentlymakescommitmentssuchasguaranteeingabank
pi
loanforthejointventureoralong-termcontracttopurchasematerialswiththejointventure.Thistype
om
ofactioncangivethecompanysignificantpotentialliabilitiesorcommitmentsthatdonotappearonthe
faceofthebalancesheet.Thispotentialproblemexistswithalljointventures,includingthosethathave
been consolidated. To be aware of these significant potential liabilities orcommitments,readthenote
C
thatrelatestothejointventure.Thenconsiderthisinformationinrelationtotheadditionalliabilitiesor
commitments to which the joint venture may commit the firm.
55.EvaluatethetreatmentofdevelopmentexpendituresetoutinNAS38'IntangibleAssets'against
the characteristics of relevance and reliability.
Compiled by : Binay Bhattarai
Ans: UnderNAS38developmentexpenditureshouldberecognizedasanasset,butonlywhereitmeets
a number of stringent (firm) conditions. These relatetothetechnicalfeasibilityoftheproject,howthe
probable future economic benefits will be generated and the availability of resources to complete the
development. It must also be possible to measure the development expenditure reliably.
Themostreliableinformationwouldbeprovidedifthecostsarerecognizedintheincomestatementas
they are incurred (indeed this is the approach to be taken toresearchexpenditureandtodevelopment
expenditure where the recognition criteria are not met).
ai
However, this does notproviderelevantinformationwherebenefitsfromtheexpenditurewillflowinto
theentityoverseveralaccountingperiods.However,thereliabilityofthismorerelevantinformationcan
r
tta
be seriously compromised wherethereareuncertaintiessurroundingthefutureoutcomeoftheproject.
Hence,NAS38adoptstherelevanceapproachbutonlywheretheinformationbackingupthatapproach
is reliable, i.e. there is sufficient certainty surrounding the viability/profitability of the project.
a
Bh
56.Describefourcircumstancesinwhichaparententitymaynotberequiredtopresentconsolidated
financial statements under Nepal Financial Reporting Standards.
y
Ans: NFRS10ConsolidatedfinancialStatementsoutlinesthefollowingexemptionswhentheparent
a
entity need not present consolidated financial statements:
in
(i)Theparentitselfisawhollyownedsubsidiaryorapartiallyownedsubsidiaryanditsownershavebeen
informed about it and do not object to the parent not preparing the consolidated financial statements.
:B
(ii) The parent‘s debt or equity instruments are not traded in a public market.
(iii)Thefinancialstatementsoftheparentarenotfiledwithanyregulatoryorganizationforthepurpose
of issuing debt or equity instruments on any stock exchange.
by
(iv) The ultimateorimmediateparentoftheentityproducespubliclyavailablefinancialstatementsthat
comply with NFRSs.
d
le
57. Briefly explain how lessee must account for leases within the scope of NFRS 16 Leases.
Ans: NFRS16requiresthatallleaseswithitsscopemustbecapitalisedbylesseebyrecognisinglease
pi
liabilities and Right Of Use Assets (ROUA). However, a lessee may not capitalise a lease but merely
om
account for lease rentals if any of the two exemptions has been used:
• The lease is of a small value asset
• Short term Lease Lease liabilities must initially be measured at the present value of the lessee‘s
C
Minimum LeasePayments(MLPs)payableinfuturediscountedattheinterestrateimplicitinthelease.
The ROUA is initially measured at the aggregate of:
• Cash incurred at inception of the lease
• Initial carrying amount of lease liability
•Provisionfordecommissioningthelease.Subsequently,leaseliabilitiesmustbemeasuredatamortized
cost using the interest rate implicit in the lease, charging the finance costs in the SPL. ROUA must
Compiled by : Binay Bhattarai
normallybeamortizedonastraightlinebasisovertheshorteroftheassetunderlease‘susefuleconomic
life and the lease term.
58. Explain 'Plain Vanilla Swap' with example.
Ans: A plain vanilla swap is one of the simplest financial instruments contracted in the
over-thecounter market between two private parties, both of which are usually firms or financial
ai
institutions. There are several types of plain vanilla swaps,includinganinterestrateswap,commodity
swap, and a foreign currency swap. The term plainvanillaswapismostcommonlyusedtodescribean
r
tta
interest rate swap in which a floating interest rate is exchanged for a fixed rate or vice versa.
Aplainvanillainterestrateswapisoftendonetohedgeafloatingrateexposure,althoughitcanalsobe
a
done to take advantage of a declining rateenvironmentbymovingfromafixedtoafloatingrate.Both
Bh
legs of the swap are denominatedinthesamecurrency,andinterestpaymentsarenetted.Thenotional
principal does not change during the life of the swap, and there are no embedded options.
a y
In a plain vanilla interest rate swap, Company AandCompanyBchooseamaturity,principalamount,
in
currency, fixed interest rate, floating interest rate index, and rate reset and payment dates. On the
specified payment dates for the life of the swap, Company A pays Company B an amount of interest
:B
calculated by applying the fixed rate to the principal amount, and Company B pays Company A the
amount derived from applying the floating interest rate to the principal amount. Only the netted
difference between the interest payments changes hands.
by
59.Business Combination : Reverse Aquisition :
d
Vajra Ltd. and Zoro Ltd. both are in the business of manufacturing and selling of Lubricant. The
le
shareholders of both companies agree to joinforcestobenefitfromlowerdeliveryanddistribution
costs.ThebusinesscombinationiscarriedoutbysettingupanewentitycalledMeeraLtd.thatissues
pi
100 shares to Vajra Ltd. shareholdersand50sharestoZoroLimited‘sshareholdersinexchangefor
om
thetransferofthesharesinthoseentities.Thenumberofsharesreflectstherelativefairvaluesofthe
entities before the combination. Also respective company‘s shareholders get the voting rights in
Meera Ltd. based on their respective shareholding. Required: Provide the provisionanddetermine
C
the acquirer by applying the principles of NFRS 3 Business Combinations.
Ans: AsperNFRS3,inabusinesscombinationeffectedprimarilybyexchangingequityinterests,the
acquirer is usually the entity that issues its equity interests. However, in some businesscombinations,
commonly called ‘reverse acquisitions’, the issuing entityistheacquiree.Page42of42Otherpertinent
facts and circumstances shall also be considered in identifying the acquirer inabusinesscombination
effectedbyexchangingequityinterests,including:Therelativevotingrightsinthecombinedentityafter
Compiled by : Binay Bhattarai
thebusinesscombination-Theacquirerisusuallythecombiningentitywhoseownersasagroupretain
orreceivethelargestportionofthevotingrightsinthecombinedentity.Basedonabovementionedpara,
acquirershallbeeitherofthecombiningentities(i.e.VajraLtd.orZoroLtd.),whoseownersasaGroup
retain or receive the largest portion of the voting rights in the combined entity. Hence, in the above
scenario Vajra Ltd.‘s shareholder gets 66.67% share (100 / 150 x 100) and Zoro Ltd.‘s shareholder gets
33.33% share in Meera Limited. Hence, Vajra Ltd. is acquirer as per the principles of NFRS 3.
r ai
a tta
Bh
a y
in
:B
by
d
le
pi
om
C
You might also like
- Benchmarking Public Procurement 2016: Assessing Public Procurement Systems in 77 EconomiesFrom EverandBenchmarking Public Procurement 2016: Assessing Public Procurement Systems in 77 EconomiesNo ratings yet
- Essay Regarding Our Webinar On AASI (Asset and Wealth Management)Document2 pagesEssay Regarding Our Webinar On AASI (Asset and Wealth Management)Roland Vincent JulianNo ratings yet
- ConceptualDocument11 pagesConceptualAruxi YoshiNo ratings yet
- Suggested Solution Far 660 Final Exam December 2019Document6 pagesSuggested Solution Far 660 Final Exam December 2019Nur ShahiraNo ratings yet
- CFAS - Chapter 1-8Document10 pagesCFAS - Chapter 1-8John Rafael Reyes PeloNo ratings yet
- AC3102 Jan2018 Seminar 1 Concepts Context LKW 8jan2018Document17 pagesAC3102 Jan2018 Seminar 1 Concepts Context LKW 8jan2018Shawn TayNo ratings yet
- Chap 2 - SFARDocument6 pagesChap 2 - SFARApril Joy ObedozaNo ratings yet
- Financial Accounting 2017 Ist Semester FinalDocument100 pagesFinancial Accounting 2017 Ist Semester FinalLOVERAGE MUNEMONo ratings yet
- Advanced Financial Reporting ModuleDocument15 pagesAdvanced Financial Reporting ModuleMax MasiyaNo ratings yet
- Cfas Chapeter Exam 123Document7 pagesCfas Chapeter Exam 123CASTILLO, MA. CHEESA D.No ratings yet
- Intermediate - Accounting - Spiceland - Sepe - Nelson - 8th - Ed - CHPT - 01 - Exercises AnswerDocument27 pagesIntermediate - Accounting - Spiceland - Sepe - Nelson - 8th - Ed - CHPT - 01 - Exercises AnswerMelissaNo ratings yet
- Solutions For Chapter 1 Auditing: Integral To The Economy: Review QuestionsDocument26 pagesSolutions For Chapter 1 Auditing: Integral To The Economy: Review QuestionsStefany Mie MosendeNo ratings yet
- Test 1Document4 pagesTest 1Leslie CarrollNo ratings yet
- Chapter 2Document67 pagesChapter 2Adam MilakaraNo ratings yet
- Guidelines in Fs PreparationDocument4 pagesGuidelines in Fs PreparationanacldnNo ratings yet
- AAS Chapter-1Document30 pagesAAS Chapter-1ABM12-Paulyn Andrea MoncadaNo ratings yet
- Conceptual FrameworkDocument5 pagesConceptual FrameworkMaica PontillasNo ratings yet
- Overview of Accounting (CFAS)Document9 pagesOverview of Accounting (CFAS)JennicaBailonNo ratings yet
- This Study Resource Was: Accounting Profession Serve in Performing This Special Function?Document5 pagesThis Study Resource Was: Accounting Profession Serve in Performing This Special Function?Chelle HullezaNo ratings yet
- Auditors: - in Fact - in AppearanceDocument12 pagesAuditors: - in Fact - in AppearanceKlo MonNo ratings yet
- Auditing and Corporate GovernanceDocument10 pagesAuditing and Corporate GovernancealexandraNo ratings yet
- CH2: Conceptual Framework Conceptual Framework Is:: Specific Requirements For A Particular AreaDocument4 pagesCH2: Conceptual Framework Conceptual Framework Is:: Specific Requirements For A Particular Area7th libraryNo ratings yet
- Conceptual Framework IFRS 2022Document27 pagesConceptual Framework IFRS 2022Ánh Nguyễn Thị NgọcNo ratings yet
- Iii. Conceptual FrameworkDocument4 pagesIii. Conceptual FrameworkKawaii SevennNo ratings yet
- AT Answer Key-CombinedDocument11 pagesAT Answer Key-CombinedA PNo ratings yet
- Cfas ReadingDocument11 pagesCfas ReadingMaricar CachilaNo ratings yet
- Fhycrx DKLKFCN RF N.,J CFT VNJG X RFVGNTKJ Cvnfe432Document10 pagesFhycrx DKLKFCN RF N.,J CFT VNJG X RFVGNTKJ Cvnfe432Leslie EchinNo ratings yet
- ACC 203 Module 2 Conceptual FrameworkDocument26 pagesACC 203 Module 2 Conceptual FrameworkMitch Giezcel DrizNo ratings yet
- CFAS Module 1 - ReviewerRRRDocument4 pagesCFAS Module 1 - ReviewerRRRAthena LedesmaNo ratings yet
- Cfas Material 1 PDFDocument6 pagesCfas Material 1 PDFErmelyn GayoNo ratings yet
- Financial Statement AnalysisDocument9 pagesFinancial Statement AnalysisSitio BayabasanNo ratings yet
- BSBSTR602 Asessment SupportDocument68 pagesBSBSTR602 Asessment SupportDaniela CabralNo ratings yet
- 3 Concepts in AccountingDocument59 pages3 Concepts in Accountingedward peraltaNo ratings yet
- IntroductionDocument8 pagesIntroductionIsaac MbaiNo ratings yet
- 02 Conceptual Framework For Financial ReportingDocument5 pages02 Conceptual Framework For Financial ReportingJAMES ANDROE TANNo ratings yet
- Classification and Factors Influencing Accounting SystemsDocument7 pagesClassification and Factors Influencing Accounting SystemsAreebaNo ratings yet
- Financial Ratios Topic (MFP 1) PDFDocument9 pagesFinancial Ratios Topic (MFP 1) PDFsrinivasa annamayyaNo ratings yet
- Ey Ongoing Due Due Diligence White PaperDocument8 pagesEy Ongoing Due Due Diligence White PaperManoj SNo ratings yet
- CFASDocument25 pagesCFASkaiaav.i09No ratings yet
- Conceptual Framework 2020Document14 pagesConceptual Framework 2020Aryadna Sandi CimarraNo ratings yet
- Solution Manual For Auditing A Business Risk Approach 8th Edition by Rittenburg Complete Downloadable File atDocument35 pagesSolution Manual For Auditing A Business Risk Approach 8th Edition by Rittenburg Complete Downloadable File atmichelle100% (1)
- FABM1Document3 pagesFABM1Kyla BallesterosNo ratings yet
- Reassessing Value PDFDocument16 pagesReassessing Value PDFanushanNo ratings yet
- Credit Analysis and Distress PredictionDocument57 pagesCredit Analysis and Distress Predictionrizki nurNo ratings yet
- Auditing 2020 21 Cabrera 1 5Document148 pagesAuditing 2020 21 Cabrera 1 5MisshtaCNo ratings yet
- Chapter 1audi 2015 DUDocument10 pagesChapter 1audi 2015 DUMoti BekeleNo ratings yet
- Chapter 1 Conceptual FrameworkDocument5 pagesChapter 1 Conceptual FrameworkJOMAR FERRERNo ratings yet
- CFASDocument3 pagesCFASMeybilene BernardoNo ratings yet
- Chapter 1 Supa My NotesDocument12 pagesChapter 1 Supa My NotesAmit Kumar AroraNo ratings yet
- Unit - 4 Study Material ACGDocument21 pagesUnit - 4 Study Material ACGAbhijeet UpadhyayNo ratings yet
- VCM Chap 1Document9 pagesVCM Chap 1Ivory ClaudioNo ratings yet
- Financial Statement Anlysis 10e Subramanyam Wild Chapter 4Document43 pagesFinancial Statement Anlysis 10e Subramanyam Wild Chapter 4Muhammad HamzaNo ratings yet
- Chapter 2: The Conceptual Framework: Fundamentals of Intermediate Accounting Weygandt, Kieso, and WarfieldDocument36 pagesChapter 2: The Conceptual Framework: Fundamentals of Intermediate Accounting Weygandt, Kieso, and WarfieldAppu KhanNo ratings yet
- F7 ACCA Summary + Revision Notes 2017Document89 pagesF7 ACCA Summary + Revision Notes 2017aynkaransenthilkumaranNo ratings yet
- FandI CA11 201009 Examiners' Report FINALDocument17 pagesFandI CA11 201009 Examiners' Report FINALSaad MalikNo ratings yet
- Revised AccountingDocument46 pagesRevised AccountingAli NasarNo ratings yet
- International Financial Reporting 1Document42 pagesInternational Financial Reporting 1Jemmie PhamNo ratings yet
- Materi Presentasi Audit GabunganDocument39 pagesMateri Presentasi Audit GabunganRenny NNo ratings yet
- Orca Share Media1668925931673 6999982710921667804Document26 pagesOrca Share Media1668925931673 6999982710921667804Chekani Kristine MamhotNo ratings yet
- ScheduleDocument1 pageScheduleSafal BhandariNo ratings yet
- 06 - Test 6 Mission 80+Document4 pages06 - Test 6 Mission 80+Safal BhandariNo ratings yet
- Marginal Costing and Decision Making-1Document49 pagesMarginal Costing and Decision Making-1Safal BhandariNo ratings yet
- Labour Control: Ashim Bhatta (CA, MBS, ISA)Document41 pagesLabour Control: Ashim Bhatta (CA, MBS, ISA)roshinaNo ratings yet
- Material Control: Ashim Bhatta (CA, MBS, ISA)Document49 pagesMaterial Control: Ashim Bhatta (CA, MBS, ISA)Safal BhandariNo ratings yet
- Job Costing: CA. Ashim BhattaDocument12 pagesJob Costing: CA. Ashim BhattaSafal BhandariNo ratings yet
- Integrated and Non Integrated Accounting System: Amazing Journey of Logic and ConceptsDocument17 pagesIntegrated and Non Integrated Accounting System: Amazing Journey of Logic and ConceptsSafal BhandariNo ratings yet
- Integrated and Non Integrated Accounting System: Amazing Journey of Logic and ConceptsDocument17 pagesIntegrated and Non Integrated Accounting System: Amazing Journey of Logic and ConceptsSafal BhandariNo ratings yet
- Affidavit of WaiverDocument1 pageAffidavit of Waivergelbert palomarNo ratings yet
- Fuzzy Based Techniques For Handling Missing ValuesDocument6 pagesFuzzy Based Techniques For Handling Missing ValuesFarid Ali MousaNo ratings yet
- E-Business & Cyber LawsDocument5 pagesE-Business & Cyber LawsHARSHIT KUMARNo ratings yet
- 08147-416H - LEGEND - Wahl - Fact Sheets - 5StarSeries - GBDocument1 page08147-416H - LEGEND - Wahl - Fact Sheets - 5StarSeries - GBChristian ParedesNo ratings yet
- BBA - Study On Gold As A Safer Investment CommodityDocument94 pagesBBA - Study On Gold As A Safer Investment CommoditySANJU GNo ratings yet
- ANT A794517R0 1470 DatasheetDocument2 pagesANT A794517R0 1470 DatasheetRobertNo ratings yet
- 0x08. C - RecursionDocument13 pages0x08. C - RecursionElyousoufi hakim0% (1)
- Asme B31.8Document8 pagesAsme B31.8deepndeepsi100% (1)
- Evolution of Human Resource ManagementDocument13 pagesEvolution of Human Resource Managementmsk_1407No ratings yet
- Modelling and Simulation of Armature ControlledDocument7 pagesModelling and Simulation of Armature ControlledPrathap VuyyuruNo ratings yet
- Inception Report - Performance Management and Measurement Including Monitoring & EvaluationDocument16 pagesInception Report - Performance Management and Measurement Including Monitoring & EvaluationDepartment of Political Affairs, African Union CommissionNo ratings yet
- BF PP 2017Document4 pagesBF PP 2017Revatee HurilNo ratings yet
- Marathi Typing 30 WPM Passage PDF For Practice Arathi Typing 30 WPM Passage PDF For PracticeDocument1 pageMarathi Typing 30 WPM Passage PDF For Practice Arathi Typing 30 WPM Passage PDF For Practiceshankar jonwalNo ratings yet
- Lecture 02 Running EnergyPlusDocument29 pagesLecture 02 Running EnergyPlusJoanne SiaNo ratings yet
- WS Soln 2 6A RationalFunctionsDocument6 pagesWS Soln 2 6A RationalFunctionsSiddhant ShahNo ratings yet
- ADM2341 CH 8 Capstone QDocument2 pagesADM2341 CH 8 Capstone QjuiceNo ratings yet
- Delivery For OutSystems Specialization Sample Exam - enDocument8 pagesDelivery For OutSystems Specialization Sample Exam - enmahesh manchalaNo ratings yet
- Local Training Companies DBDocument8 pagesLocal Training Companies DBMohammad MuhannaNo ratings yet
- Thesis HealthDocument5 pagesThesis Healthcreasimovel1987100% (1)
- قدرة تحمل التربةDocument3 pagesقدرة تحمل التربةjaleelNo ratings yet
- V3 Hyundai Price ListDocument4 pagesV3 Hyundai Price Listdeepu kumarNo ratings yet
- Masonry: Department of EducationDocument6 pagesMasonry: Department of EducationFatima AdilNo ratings yet
- Application & Registration Form MSC International Business Management M2Document11 pagesApplication & Registration Form MSC International Business Management M2Way To Euro Mission Education ConsultancyNo ratings yet
- Vehicle T-Atv1200 Mil Specs 2015 Tech DescrDocument22 pagesVehicle T-Atv1200 Mil Specs 2015 Tech DescrpeiyingongNo ratings yet
- CPS Fitting Stations by County - 22 - 0817Document33 pagesCPS Fitting Stations by County - 22 - 0817Melissa R.No ratings yet
- Prince SopDocument3 pagesPrince Sopvikram toorNo ratings yet
- Flight Eticket - PdfaaaDocument3 pagesFlight Eticket - PdfaaaIgnacio Gonzalez PastranoNo ratings yet
- PCAR Part 1 ReviewerDocument75 pagesPCAR Part 1 ReviewerMaybelyn ConsignadoNo ratings yet
- Rtcclient Tool Quick Guide: Date Jan. 25, 2011Document3 pagesRtcclient Tool Quick Guide: Date Jan. 25, 2011curzNo ratings yet
- Bafb1023 Microeconomics (Open Book Test)Document4 pagesBafb1023 Microeconomics (Open Book Test)Hareen JuniorNo ratings yet
- Business Process Mapping: Improving Customer SatisfactionFrom EverandBusiness Process Mapping: Improving Customer SatisfactionRating: 5 out of 5 stars5/5 (1)
- A Pocket Guide to Risk Mathematics: Key Concepts Every Auditor Should KnowFrom EverandA Pocket Guide to Risk Mathematics: Key Concepts Every Auditor Should KnowNo ratings yet
- Guide: SOC 2 Reporting on an Examination of Controls at a Service Organization Relevant to Security, Availability, Processing Integrity, Confidentiality, or PrivacyFrom EverandGuide: SOC 2 Reporting on an Examination of Controls at a Service Organization Relevant to Security, Availability, Processing Integrity, Confidentiality, or PrivacyNo ratings yet
- (ISC)2 CISSP Certified Information Systems Security Professional Official Study GuideFrom Everand(ISC)2 CISSP Certified Information Systems Security Professional Official Study GuideRating: 2.5 out of 5 stars2.5/5 (2)
- A Step By Step Guide: How to Perform Risk Based Internal Auditing for Internal Audit BeginnersFrom EverandA Step By Step Guide: How to Perform Risk Based Internal Auditing for Internal Audit BeginnersRating: 4.5 out of 5 stars4.5/5 (11)
- Bribery and Corruption Casebook: The View from Under the TableFrom EverandBribery and Corruption Casebook: The View from Under the TableNo ratings yet
- The Layman's Guide GDPR Compliance for Small Medium BusinessFrom EverandThe Layman's Guide GDPR Compliance for Small Medium BusinessRating: 5 out of 5 stars5/5 (1)
- Financial Statement Fraud Casebook: Baking the Ledgers and Cooking the BooksFrom EverandFinancial Statement Fraud Casebook: Baking the Ledgers and Cooking the BooksRating: 4 out of 5 stars4/5 (1)
- Audit. Review. Compilation. What's the Difference?From EverandAudit. Review. Compilation. What's the Difference?Rating: 5 out of 5 stars5/5 (1)
- Scrum Certification: All In One, The Ultimate Guide To Prepare For Scrum Exams And Get Certified. Real Practice Test With Detailed Screenshots, Answers And ExplanationsFrom EverandScrum Certification: All In One, The Ultimate Guide To Prepare For Scrum Exams And Get Certified. Real Practice Test With Detailed Screenshots, Answers And ExplanationsNo ratings yet
- Guidelines for Organization of Working Papers on Operational AuditsFrom EverandGuidelines for Organization of Working Papers on Operational AuditsNo ratings yet
- Electronic Health Records: An Audit and Internal Control GuideFrom EverandElectronic Health Records: An Audit and Internal Control GuideNo ratings yet
- GDPR for DevOp(Sec) - The laws, Controls and solutionsFrom EverandGDPR for DevOp(Sec) - The laws, Controls and solutionsRating: 5 out of 5 stars5/5 (1)
- GDPR-standard data protection staff training: What employees & associates need to know by Dr Paweł MielniczekFrom EverandGDPR-standard data protection staff training: What employees & associates need to know by Dr Paweł MielniczekNo ratings yet
- Executive Roadmap to Fraud Prevention and Internal Control: Creating a Culture of ComplianceFrom EverandExecutive Roadmap to Fraud Prevention and Internal Control: Creating a Culture of ComplianceRating: 4 out of 5 stars4/5 (1)
- Audit and Assurance Essentials: For Professional Accountancy ExamsFrom EverandAudit and Assurance Essentials: For Professional Accountancy ExamsNo ratings yet
