275 275
Discussion Questions
Evaluation
vii CHAPTER XI – PROVISIONS, CONTINGENCIES, AND IMPAIRMENT 391 Chapter Opener: Uncertainty 391 Chapter Learning Objectives 392 Introduction 393 Lesson 11.1: Business Entity as Actual Debtor, Possible Debtor, and Creditor (PAS 37/ PFRIC 6) 403 Lesson 11.2: Business Entity as Asset-Owner (PAS 36) 414 Visual Chapter Summary 415 Discussion Questions 415 Evaluation CHAPTER IX – PROPERTY, LEASES, AND INTANGIBLE ASSETS 281 Chapter Opener: The “Cup” That Holds the “Coffee” 281 Chapter Learning Objectives 282 Introduction 283 Lesson 9.1: Business Entity as Owner of Tangible Property (PAS 16/ PAS 40/PAS 23) 298 Lesson 9.2: Business Entity as Lessee or Lessor (PFRS 16) 304 Lesson 9.3: Business Entity as Owner of Intangible Property (PAS 38/ PFRIC 12/SIC-29/SIC-32) 319 Lesson 9.4: Business Entity with Discontinued Operations and Assets for Disposal (PFRS 5) 323 Visual Chapter Summary 324 Discussion Questions 324 Evaluation CHAPTER X – INVESTMENTS IN BUSINESS ORGANIZATIONS, CONSOLIDATION, AND GOODWILL 335 Chapter Opener: Interdependence and Connection: Ultimate Goal of the Mature Person 336 Chapter Learning Objectives 336 Introduction 337 Lesson 10.1: Business Entity as Acquirer and Parent (PFRS 3/PFRS 10) 359 Lesson 10.2: Business Entity as Investor in Joint Arrangements and Associates (PFRS 11/PAS 28) 374 Lesson 10.3: Other Business Investor Reporting with Disclosure Requirements (PAS 27/PFRS 12) 381 Visual Chapter Summary 382 Discussion Questions 382 Evaluation
CONCEPTUAL FRAMEWORK AND ACCOUNTING STANDARDS
208 210 215 216 216
PAS 10 Events After the Reporting Period
Lesson 6.4: Lesson 6.5:
PAS 8 Accounting Policies, Changes in Accounting Estimates, and Errors
Visual Chapter Summary Discussion Questions
Evaluation
CHAPTER VII – FINANCIAL INSTRUMENTS 223 Chapter Opener: Liquidity in Nature 223 Chapter Learning Objectives 224 Introduction 226 Lesson 7.1:
Business Entity as Holder or Issuer of Financial Instruments (PAS 32) Business Entity as Holder or Issuer of Financial Assets and Liabilities (PFRS 9) Disclosure Requirements for the Business Entity’s Financial Instruments (PFRS 7)
234
Lesson 7.2:
243
Lesson 7.3:
248 249 249
Visual Chapter Summary Discussion Questions
Evaluation
vi CHAPTER VIII – INVENTORIES, AGRICULTURE, AND MINERAL RESOURCES 255 Chapter Opener: Goods and Services, Business’ Main Contact Point to the World 255 Chapter Learning Objectives 256 Introduction 257 Lesson 8.1: Business Entity as Manufacturer or Merchandiser (PAS 2) 262 Lesson 8.2: Business Entity as Producer (PAS 41) 269 Lesson 8.3: Business Entity as Miner (PFRS 6/PFRIC 20) 274 Visual Chapter Summary 275 Discussion Questions 275 Evaluation CHAPTER IX – PROPERTY, LEASES, AND INTANGIBLE ASSETS 281 Chapter Opener: The “Cup” That Holds the “Coffee” 281 Chapter Learning Objectives 282 Introduction 283 Lesson 9.1: Business Entity as Owner of Tangible Property (PAS 16/ PAS 40/PAS 23) 298 Lesson 9.2: Business Entity as Lessee or Lessor (PFRS 16) 304 Lesson 9.3: Business Entity as Owner of Intangible Property (PAS 38/ PFRIC 12/SIC-29/SIC-32) 319 Lesson 9.4: Business Entity with Discontinued Operations and Assets for Disposal (PFRS 5) 323 Visual Chapter Summary 324 Discussion Questions 324 Evaluation CHAPTER X – INVESTMENTS IN BUSINESS ORGANIZATIONS, CONSOLIDATION, AND GOODWILL 335 Chapter Opener: Interdependence and Connection: Ultimate Goal of the Mature Person 336 Chapter Learning Objectives 336 Introduction 337 Lesson 10.1: Business Entity as Acquirer and Parent (PFRS 3/PFRS 10) 359 Lesson 10.2: Business Entity as Investor in Joint Arrangements and Associates (PFRS 11/PAS 28)
CHAPTER XII – EQUITY-RELATED TRANSACTIONS 421 Chapter Opener: For the Sake of Owners 421 Chapter Learning Objectives 422 Introduction 423 Lesson 12.1:
Business Entity as Equity Instrument Issuer (PFRS 2/ PFRIC 19) Business Entity as Dividend Distributor or as Cooperative (PFRS 17/PFRIC 2)
430
Lesson 12.2:
431 435 436 436
Business Entity as Profit-Generator (PAS 33)
Lesson 12.3:
Visual Chapter Summary Discussion Questions
Evaluation
CHAPTER XIII – REVENUE TRANSACTIONS 443
Chapter Opener: The Circulatory System of the Business
443 444 444 458
Chapter Learning Objectives
Introduction Lesson 13.1: Lesson 13.2:
Business Entity as Seller/Service Provider (PFRS 15)
Business Entity as Insurer (PFRS 17)
viii
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