Question
The Treasury Department of Drof Motors invests excess funds daily (e.g., in foreign currencies). It, thus, earns profits and losses, which are included in the
The Treasury Department of Drof Motors invests excess funds daily (e.g., in foreign currencies). It, thus, earns profits and losses, which are included in the companys consolidated financial statements. Should Drof consider its Treasury operations as a (distinct) segment in preparing its external financial statements?
The research assignments require examining a given fact situation, identifying and researching (using FASB Codification, Lexis/Nexis Academic Access, etc.) the accounting issues raised by the situation, and preparing a memorandum. The paper for each case to be submitted will be in the form of a file memorandum. It will require recitation of the relevant facts, identification of the specific accounting issue(s) raised in the case, a discussion of the relevant authorities (be specific) and their application to the given facts, and a conclusion.
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