In your opinion, when should the following be recognised as assets or liabilities? Explain whether, how and

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In your opinion, when should the following be recognised as assets or liabilities? Explain whether, how and why your answer deviates from IFRS.

(a) accounts payable

(b) put options

(c) call options

(d) raw materials inventory

(e) finance lease obligations

(f) operating lease obligations (g) warranty commitments AppendixLO1

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Accounting Theory

ISBN: 9780470818152

7th Edition

Authors: Jayne Godfrey, Ann Tarca, Allan Hodgson, Jane Hamilton, Scott Holmes

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