Using A Bipolar Consolidation Model - 1487 Words

Control IFRS 10 An investor determines whether it is a parent by assessing whether it controls one or more investees. An investor considers all relevant facts and circumstances when assessing whether it controls an investee. An investor controls an investee when it is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. [IFRS 10:5-6; IFRS 10:8]. Power arises from rights e.g. voting rights or those rooted in contractual arrangements. An investor that holds only protective rights cannot have power over an investee (IFRS 10:11, IFRS 10:14). U.S GAAP ASC 810-10 Uses a bipolar consolidation model. All consolidation decisions are†¦show more content†¦Under this model a reporting entity has a controlling financial interest in VIE if it has power to direct the activities of the VIE’s economic performance or the rights to receive profits or obligation to absorb losses that could be significant to the VIE. 2. Voting interest model-Here controlling financial interest usually exists if a reporting entity has majority voting interest in the other entity. Here the basis for consolidation focuses on control, irrespective of the form of investee. An investor has control over investee when it has rights to variable returns from its involvement with investee and has the ability to affect those returns through its power over the investee. Two firms planning to consolidate their operations must both use one of the two accounting standards i.e. either U.S.GAAP or IFRS in the execution of consolidation. B) The concept of effective control exists in relation with contracts. B) Here the concept of de facto control is recognized by the existence of situations in which a parent company may have control over another entity despite; (a) holding less than 50% voting interest and (b) lacking legal and/or contractual rights to control voting power. An attempt to consolidate two firm using the different standards will lead to several misunderstandings and difficulties to CPAs and other stakeholders Valuation of Non-controlling interest Under US GAAP Under ASC 810, the

Essay On Private Sector - 739 Words

Competing with its neighbor to the south, Canada has become a strong contender in the global market, making the country one of the most sought after places to live. It is one of the fastest growing developed countries in the world. With major emphasis on lenient immigration and foreign direct investment, Canada’s private-sector and public infrastructure has grown tremendously over the past few decades. One interesting aspect of Canada’s private sector is its special terrain that offers abundant oil and natural gas. According to the Central Intelligence Agency (CIA, 2017), Canada now ranks as third in the world in proved oil reserves and the majority of the crude oil production comes from oil sands in the western provinces.†¦show more content†¦Currently, Canada is on course to add 400,000 jobs this year, which if attained, would be the first time at least 400,000 jobs were created in one year since 1979, according to Derek Holt, the Vice President of Capital Ma rkets Economics at Scotiabank (Sevunts, 2017). Despite this phenomenal growth in jobs creation and employment, wages have remained primarily stagnant. Holt weighs in with a sobering message, â€Å"Strip away low inflation, and the average Canadian’s pay cheque is still falling somewhat† (Sevunts, 2017). Interestingly, household consumption has not significantly declined as a result of low wage growth. At the end of 2016, senior economist with TD Economics Brian DePratto noted, â€Å"Canadians opened their wallets both at stores and construction offices, delivering a solid fourth-quarter economic performance† (CBC News, 2017). The unemployment data suggests Canada’s economy is thriving and indicates the possibility of further growth is on the horizon. Derek Holt, however, advises a more cautious outlook given recent uncertainties in the U.S.’s political sphere. As Canada and the U.S. are closely connected not just geographically but also in trade, changes in U.S. government policies may significantly affect Canada’s economic situation. In a March 2017 interview, Holt says, â€Å"One reason for greater caution is that U.S. and global trade policy uncertainty persists, and the Trudeau-Trump meeting did not eradicate it in the face of potentially material ‘tweaks’Show MoreRelatedEssay about Working for the Public Sector versus the Private Sector686 Words   |  3 Pagesworking for both public and private sectors. There are different sets of needs to be met in each criterion but they may slightly relate to each other as well. The public sector mostly relate to Government work. There are special exams a person has to take whenever they apply for any work with the government. There are some very strict rules and requirements to meet in every branch of the government and for every position within that branch. 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Compare and contrast Shakespeare’s presentation of women in Hamlet and Measure for Measure Essay Example For Students

Compare and contrast Shakespeare’s presentation of women in Hamlet and Measure for Measure Essay Hamlet was first performed in 1601 to 1602 during the reign of Elizabeth I. During the time that the play was written it was said that Elizabeth I was not in good health. There was no actual heir to the throne so there was always a possibility that there would be a fight over who would be the next ruler and take over the throne. In the beginning of Hamlet a similar storyline is used after Old Hamlet’s death causes changes to the heirs of the throne and the question of who will take over his role on the throne. In comparison when Measure for Measure was first put on in 1603, James I would have probably gone to see it so Shakespeare may have based the Duke character on him to flatter him. James I had published a book which outlined things that were most important to be a successful ruler. A monarch was advised by him which could be the purpose of in the last scenes from Measure for Measure when the Duke shows that he will obey the New Testament’s approach to morality by tempering justice with mercy. During the Elizabethan era in the 1600’s women were treated in a different manner and were not looked at as equal to men. Within a marriage a women was expected to obey her husband and a husband were expected to be the head of the family household, bring their families up in a good way and treat their wives with respect. Women were said to have needed this sort of masculine guidance as they were spiritually weaker. It may have been Shakespeare’s purpose to use Gertrude getting re-married so soon after the death of her husband, Old Hamlet, to help portray that women needed to have a man by their side in order to gain respect and for guidance throughout their family life. Not only were women in a marriage expected to obey males but even within a family. Shakespeare uses Ophelia to show this when Laertes and Polonius forbid her from seeing hamlet. This shows that women were taught to respect the men and believe that what they told them was going to be in their best interest. Throughout England men were inferior to women so Shakespeare uses this in many of his plays to show that men overpowered the women and makes the men create most of the effect and storyline’s of the play. Even though women being lower than men were like this it meant that the men had more responsibilities than the women which is shown in measure for measure when its Claudio facing the death penalty for Juliet being pregnant even though it was both of their faults.

The Best College Spring Break Concerts

In less than a month, Spring Break 2016 will finally commence! If you have not set any travel plans yet, you’re pretty much going to do nothing. Just kidding. You don’t need to travel out of the country to have a great spring break. Check out some of the music festivals that are going on. It’s not too late to buy tickets!Ultra Music Festival – March 18-20 One of the biggest music festivals in the US, and has about every DJ you can think of. Who needs Vegas when you can see whichever DJ you want in the span of 3 days. Beyond Wonderland SoCal March 18-19 For all those who want a notch down from the huge Ultra festival scene but still want to get out, Beyond Wonderland is the perfect medium. Also, since it is located in Southern California, you can make an extra hour drive to hit up Disneyland after. CRSSD Festival – San Diego March 5 + 6 Sit in the sun with your favorite chill music; CRSSD Fest has all the music guests that will make your spring break as relaxing as it should be. Mini Water Park included. RARE NorCal – SJSU March 12 An Insomniac event, company that puts on Beyond Wonderland and Electric Daisy Carnival, is hosting a mini event at the San Jose Event Center. Bringing in not only DJs, but also the up and coming rapper, Young Thug. If none of those are up your alley (or close by), make sure to check your local concert listings. Shows are always a great way to enjoy your favorite music with friends on your time off. If you want to get tickets on your own, its also a great way to meet likeminded people.