# International standards of accounting and reporting (task 5)

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Uploaded: 13.08.2013
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# Description

Task number 1
Write an essay on the topic: "Why do you need to study the international standards of accounting and reporting?"

Task number 2
The company sold 100 units of products and provided a guarantee, in which it will correct any manufacturing defects that are identified during the first 6 months after the sale. If a slight defect is detected, the estimated repair costs 1000 CU If the marriage is found significant, the estimated repair costs will be equal to 3000 CU Previous warranty service company and its projections indicate that 80% of the products sold defects have 15% have minor defects and 5% are significant flaws. (In this example, the risks and time value of money is not taken into account.) Determine the amount of the estimated liability (theme 8).

Task number 3
A company's profit attributable to ordinary shareholders for the year 2010 was 3 000 000. At the beginning of the year the number of ordinary shares was 6,000,000 shares.
01.04.2010 was made an additional share issue in the amount of 900,000 pieces.
It is necessary to calculate basic earnings per share.

Task number 4
During the period the company has three sources of borrowing. Two loan and overdraft. Loan term and amount are respectively 10,000 CU 6 years 9000 CU 25 years. Overdraft bank an average of 5,000 CU Interest expense, respectively, are 1000 CU 1000 CU and 600 CU Based on the terms calculate the capitalization rate:
the appropriate capitalization rate, if all the borrowed funds are used to finance the production of qualifying assets, but none of the loan is not specific to a particular qualifying asset;
loan for 6 years can be directly correlated with the qualifying asset, you must calculate the capitalization rate to be applied in respect of other assets.

Setting №5.
In the account of the company and as of 01.01.2009 are the following assets for the residual value in USD (1 USD = \$ 1. US):
- Fishing quotas 400 000;
- Fishing equipment 200,000.
The Company's accounting policies is provided a method of accounting of fixed assets and intangible assets at historical cost less accumulated depreciation. In 2009, the possibility of fishing in the area fell by half. Quotas are in great demand in the market, they can be sold for 600 000 USD
Fishing equipment is offered to sell for 150 000 USD
What amount will be included in the statements of Company A in 2009?

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