IFRS 3 module

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Uploaded: 31.07.2013
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Task 3.1

The company is developing a new manufacturing process. During 2007, the associated cost is 2000 rubles., Of which 1 800 thousand rubles. incurred prior to 1 November 2007 and 200 tys.rub.- between November 1 2007 and December 31, 2007. As of November 1, 2007, the company is able to demonstrate the availability of the necessary financial resources, concluded a loan agreement. The fair value of the know-how related to the production process is 1000 rubles.
During 2008, costs associated with developing a new manufacturing process, make 5000 rubles. In late 2008, the fair value of the know-how in this process, based on forecasting future cash flows, is 4500 rubles.
What is the cost of this object in rubles. It will be reporting for 2007 and 2008?
Task 3.2
Provision for doubtful receivables
According to the credentials of organization "A" account balance "Trade receivables" at 30 June 2008 amounted to 32 589 thousand. Rub. The distribution of the aging of receivables, see. Table. 3.1.
The organization uses the aging of accounts for the allowance for doubtful receivables. History of collection of receivables in the past three years shows that the debt with incurring period:
• up to a month is paid off 99%;
• from one month to two - 98%;
• two to four months - 95%;
• from four to seven months - 90%;
• seven to ten months - 50%.
The older the debt, as a rule, generally not recoverable.
According to the Company's accounting policies, these data are used for the calculation of the total provision for doubtful accounts receivable when reporting in 2007 and in 2008.
The organization there is evidence that the debt of the debtor "B" in May 2008 in the amount of 1 320 thousand. Rub. and in April 2008 at the 500 th. rub., probably will not be repaid, as the debtor "B" is experiencing serious financial difficulties. In addition, it is known that in relation to senior management and the owners of the debtor's "B" initiated a criminal case on fraud, and it temporarily stopped paying their bills. The debts of the debtor "B" to the organization "A" for January 2008 is 827 thousand. Rub., In November 2007 - the 500 th. Rub.
The balance of the account "Provision for doubtful accounts receivable" of June 1, 2008 amounted to 2000 thousand. Rub. In June 1115 the amount outstanding on the thousand. Rub. It was written off against previously created provision. Other operations in the provision was not carried out in June.
Required to fill in Table 3.1 and determine:
1) The balance of the account "Provision for doubtful receivables" at 30 June 2008.
2) Turnover on the loan account "Provision for doubtful accounts receivable" in June 2008 and write the necessary wiring to accrue a reserve.
Table 3.1
The calculation of the balance of the account "Provision for doubtful accounts receivable" on June 30, 2008
Period occurrence Accounts receivable, RUR. Debt subject to special reserve, rub. The value of the total reserve% of the total reserve, rub. The amount of special and general reserves, RUB.
1 2 3 4 5 = (2 - 3) × June 4 = 3 + 5
Июнь 2008 16 535 400
Май 2008 4 333 800
Апрель 2008 5 447 200
Март 2008 2 100 000
Февраль 2008 900 500
Январь 2008 827 000
December 2007 -
Ноябрь 2007 500 000
Октябрь 2007 744 900
Сентябрь 2007 53 000
Август 2007 69 400
Июль 2007 90 200
Until July 2007 987 600
Total 32,589,000 -

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