If financial liabilities can be recognised at fair value all gains and losses arising should be reflected
Question:
‘If financial liabilities can be recognised at fair value all gains and losses arising should be reflected in profit or loss.’ Discuss.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (6 reviews)
There is no definitive answer to this question as it depends on the specific financial situation of ...View the full answer
Answered By
Milbert Deomampo
I have been tutoring for over 3 years and have experience with a variety of students, from those who are struggling to keep up with their class to those who are looking to get ahead. I specialize in English and writing, but I am also proficient in math and science. I am patient and adaptable, and I work with each student to find the best methods for them to learn and retain the material.
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial Accounting And Reporting
ISBN: 9781292255996
19th Edition
Authors: Barry Elliott, Jamie Elliott
Question Posted:
Students also viewed these Business questions
-
a. Briefly discuss how unrealized gains and losses arising from at fair value through profit or loss investments that are not designated as cash equivalents are reported on the statement of cash...
-
Does hedging eliminate all gains and losses arising from a foreign currency exposure? Explain.
-
True or False. A corporation recognizes all gains and losses on liquidating distributions of property to noncorporate shareholders. Explain.
-
Onefifth of a hive of bees flew to the Kadamba flower; one-third flew to the Silandhara; three times the difference of these two numbers flew to an arbor, and one bee continued flying about,...
-
Let represent a three- dimensional vector of random variables that is uniformly distributed over the unit sphere. That is, (a) Find the constant c. (b) Find the marginal PDF for a subset of two of...
-
Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next 9 years because the firm needs to plow back its earnings to fuel growth. The company will...
-
Do I plan to look relaxed and fresh during the interview by resting, exercising, and showering as close to interview time as feasible? LO.1
-
The following circuit operates if and only if there is a path of functional devices from left to right. The probability that each device functions is as shown. Assume that the probability that a...
-
Actual 1.400 Units of Production machine hours per unit Machine Hours Sucedes 5000 14.000 Pred overhead rate per machine hour Fixed overhead costs for March 545 S650.000 560.000 Flo Corporation...
-
Suppose that the total number of units produced by a worker in t hours of an 8-hour shift can be modeled by the production function P(t): P(t) = 27t +12t2 - t3 (a)Find the number of hours before...
-
The only true way for balance sheets to be meaningful to users would be for all financial assets and liabilities to be measured at fair value with gains and losses recognised in profit or loss....
-
Companies were permitted in 2008 to reclassify financial instruments that were initially designated as at fair value through profit. Critically discuss the reasons for the standard setters changing...
-
a. Dr. Jones, a dentist, wants to increase the size and profitability of his business by building a reputation for quality and timely service. b. To achieve this, he plans on adding a dental...
-
10.) Steam enters a well-insulated turbine at 6 MPa, 400C and expands to 200 kPa, saturated vapor at a rate of 10 kg/s. (a) Draw a schematic of the process (5 pts). (b) Determine the exergy...
-
4. [8 marks] The tides in the Bay of Fundy are some of the largest in the world. The height, h(t), of the tide in meters after t hourse can be modeled by 39 h(t) = 25 con (77) + 30 4 COS 6 (a) What...
-
Wolfe, Inc. had credit sales for the period of $144,000. The balance in Allowance for Doubtful Accounts is a debit of $653. If Wolfe estimates that 2% of credit sales will be uncollectible, what is...
-
Water at 20C is to be pumped from a reservoir (ZA = 5 m) to another reservoir at a higher elevation (ZB = 13 m) through two 36-m- long pipes connected in parallel as shown. The pipes are made of...
-
Delph Company uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that 53,000 machine-hours would...
-
A calculator is useful but certainly not exciting. Why would someone from 100 years ago vehemently disagree with this statement? We often marvel at a new technology, but how long does this marveling...
-
If the annual fixed costs are 54,000 dinars, the occupation expense represents 20%, the contribution margin is 25%, and the unit selling price is 40 dinars. Required: Calculate the closing point of...
-
Holmen (formerly MoDo), is a Swedish group manufacturing and selling newsprint and magazine paper as well as paperboard. Its financial statements are prepared in accordance with IFRS. The 2010 and...
-
Multiple Choice Questions 1. Provisions for risks and liabilities are recorded (a) In the expenses (b) In the revenues (c) In the shareholders equity and liabilities (d) As a contra-asset (e) None of...
-
ArcelorMittal is a global steel producer headquartered in Luxembourg. The statement of financial position and statement of operations for the years 2006 to 2011 (source: annual reports 20062011),...
-
Practicum Co. pad $1.2 million for an 80% interest in the common stock of Sarong Co. Practicum had no previous equity interest in Sarong. On the acquisition date, Sarong's identifiable net assets had...
-
On Dec 31 2020, Bernice Melson, a partner in ABC Communications, had an ending capital balance of $49,000. Her share of the partnership's profit was $18,000; she made investments of $12,000 and had...
-
Q2R. on account for each depreciable asset. During 2024, Jane VIIS nsactions.) i More Info Apr. 1 Purchased office equipment. 5111,000. Paid 581,000 cash and financed the remainder Jan. 1 with a note...
Study smarter with the SolutionInn App