the trade payable was still outstanding and the goods were still held by Misson. Similarly Misson has sold goods
to a foreign customer for 4 million euros on 31 July 2006 and it received payment for the goods in euros on
31 October 2006. Additionally Misson had purchased an investment property on 1 November 2005 for
28 million euros. At 31 October 2006, the investment property had a fair value of 24 million euros. The company
uses the fair value model in accounting for investment properties.
Misson would like advice on how to treat these transactions in the financial statements for the year ended 31
October 2006. (7 marks)
Required:
D.iscuss the accounting treatment of the above transactions in accordance with the advice required by the
directors.(Candidates should show detailed workings as well as a discussion of the accounting treatment used.)
[试题]Mr. White has been_____(缺席的)from work for days, so he knows nothing about our new plan.
[试题]2 Misson, a public limited company, has carried out transactions denominated in foreign currency during the financialyear ended 31 October 2006 and has conducted foreign operations through a foreign entity. Its functional andpresentation currency is t
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[多选题]Apart from the degree of development of the local infrastructure, on the di
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