ACCT6010 CS.docx - Criteria Discussion Application(Y\/N Specific economic activity Contractual agreement connecting venturers Venturers share both

ACCT6010 CS.docx - Criteria Discussion Application(Y/N...

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Criteria Discussion Application (Y/N) Specific economic activity Contractual agreement connecting venturers Venturers share both strategic fin & operating policy decisions Unanimous decision making Conclusion: x investment in y can/cant be classified as a J venture as there is/ist JC between the venturers. 是的话要满足 all. 不是的话陈述哪 些没满足 . Contribution entry Dr Interest in jointly controlled operation Cr Gain on sale of non current assets Cr …… Book Value Dr Interest in jointly controlled operation Cr Cash Additional contribution entry Disaggregation entry (根据 F/Ss 按比例 分配) Dr Assets 以及 Production costs Cr Liabilities Cr Interest in jointly controlled operation Adjust management fee ( 收到钱的那一 ) Dr Cash CrManagement fee revenue 按比例 Cr Production costs Record dep’n and amortisation DrDep’n / Amortisation (Lease) - FV 按比例再按比例) Cr Accum. dep’n/ amortisation - Recognise total costs of production Dr Cost of sales ( 卖出的数 ) Dr Inventories-finished goods Cr Costs of production (allocation of production costs+dep’n/amor- management fee reimbursement) Evaluation of the Line by line method Imposes fin performance of JV into venturer’s F/Ss. (Total cost of production) Reflects the substance od economic reality of a venturer’s interest in a JV. (Total value of assets) Conflicts of defi of assets in the Framework Distort ratios analysis AASB 11 Changes (131) When classifying types of J arrangements, focus on the exposure. Para 6.(JOperation 15&JVenture 16) No choice between line by line and equity method. (JO: Line by Line method 20; JV: Equity acct method 24) Para. 11 financer A particular JV disclosure standard AASB12 “Notional ledger account” Ledger accounts 4 a group r not maintained as they r 4 a single entity. That is, there is no such thing as consolidated general ledgers. The consolidation issue: investing activities; ‘double counting’ problem; Cash paid for purchase of assets ( non-current assets T) Cash receipts from customers ( provision for doubtful debts T, 再做 a/c rec T) Cash payments to suppliers etc ( inventoryT ;做 a/c payable T) Cash payments for income tax ( income tax payable T) ITE(current + deferred)=Income tax payable + Δ DTL- Δ DTA (Income tax payable & DTL 此消彼长 ) PPE 记得减掉 Accum. dep’n; Goodwill 也有 cash payments Direct Method (XX Ltd Group) Consolidated Statement of Cash Flows for the yr ended 30 June 20XX Cash flows from operating activities Cash receipts from customers Cash payments to suppliers,employees etc Income tax Interest payments Interest received Net cash from OA Cash flows from investing activities Purchase of PPE Purchase of goodwill Proceeds from sale of equipment Cash used to acquire sub the amt of the cash consolidation paid less the cash balance of the sub at the date of its acq.
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