FINANCE LEASE - LESSEE
a. Record of lease
3. WITH BPO/GRV = lease liability,
leased asset, depreciable amount
PVOA of annual rentals
PV of 1 of BPO/GRV
Total lease liability
FINANCIAL ASSET (FA) AT AMORTIZED COST (PFRS 9)
Requisites to measure financial asset at amortized cost:
1. Business model is to collect contractual cash flows on specified dates
2. Contractual cash flows are solely payments of principa
Overview of the Flat-File vs. Database Approach
Many so-called legacy systems are characterized by the flat-file approach to data management. In this environment, users
own their data files. Exclusive ownership of data is a natural consequence of two prob
AUDITING THEORY SOLUTION MANUAL
1. It is an audit sampling selection method in which the auditor selects the sample without following a structured
technique and is not appropriate when using statistical sampling.
Compare and contrast the following disaster recovery options: mutual aid pact, empty shell, recovery operations center, and internally provided
backup. Rank them from most risky to least risky, as well as most costly to least costly.
1 = highest
Which one of the following is not one of the three General Standards?
a. Proper planning and supervision.
b. Independence of mental attitude.
c. Adequate training and proficiency.
d. Due professional care.