Sultan Qaboos University Intermediate Accounting Questions

Description

2. Identify the type of financial statement used by the company _ Consolidated, Unconsolidated or combined and briefly discuss.

3. According to the conceptual framework, the basic measurements to recognize/report the elements in the financial statements are Historical cost and current value. Which measurement method is used to determine the cost of Property, Plant & Equipment accounts?

4. What is the CASH amount reported in the Balance Sheet and what are the components?

7. What is the book value of each Fixed Assets at the end of the year? Compare it with the Book Value of previous year.

8. Check if the Fair Value Method is used by your companies. If yes, when and what it is used for?

9. According to the company policies, when Property, Plant & Equipment are derecognized?

10. What are the types of inventory and their respective amount?

12. How Trade Receivable provision (allowance) is estimated?

13. How much is the Net Trade Receivable (Net Realizable value)?

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