New PDF release: Advanced Accounting, 10th Edition

By Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik

The procedure utilized by Hoyle, Schaefer, and Doupnik within the new version permits scholars to imagine severely approximately accounting, simply as they are going to do whereas getting ready for the CPA examination and of their destiny careers. With this article, scholars achieve a well-balanced appreciation of the Accounting occupation. As Hoyle 10e introduces them to the field’s many facets, it frequently makes a speciality of earlier controversies and current resolutions. The textual content maintains to teach the advance of economic reporting as a made of severe and thought of debate that keeps this present day and into the long run. The writing type of the 9 earlier variations has been hugely praised. scholars simply understand bankruptcy ideas end result of the conversational tone used through the publication. The authors have made each attempt to make sure that the writing variety continues to be enticing, vigorous, and constant which has made this article the industry best textual content within the complicated Accounting industry. The 10th variation contains a rise integration of IFRS in addition to the up to date accounting criteria.

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Example text

Percentage of book value acquired ($200,000 ϫ 30%) . . . . $90,000 60,000 Payment in excess of book value . . . . . . . . . . . . . Excess payment identified with specific assets: Equipment ($60,000 undervaluation ϫ 30%) . . . . . . . Patent ($40,000 undervaluation ϫ 30%) . . . . . . . . . 30,000 Excess payment not identified with specific assets—goodwill . . qxd 1/22/10 12:43 AM Page 15 The Equity Method of Accounting for Investments 15 Of the $30,000 excess payment made by the investor, $18,000 is assigned to the equipment whereas $12,000 is traced to a patent and its undervaluation.

04 per diluted share). The financial statements for the prior fiscal years were restated for the change in accounting method. . Retained earnings as of the beginning of fiscal year 2005 were increased by $207,000 for the effect of retroactive application of the equity method. To further illustrate this restatement procedure, assume that Giant Company acquires a 10 percent ownership in Small Company on January 1, 2010. Officials of Giant do not believe that their company has gained the ability to exert significant influence over Small.

Percentage of book value acquired ($200,000 ϫ 30%) . . . . . $125,000 60,000 Payment in excess of book value . . . . . . . . . . . . . Excess payment identified with specific assets: Equipment ($60,000 undervaluation ϫ 30%) . . . . . . . Patent ($40,000 undervaluation ϫ 30%) . . . . . . . . . 65,000 Excess payment not identified with specific assets—goodwill . . $18,000 12,000 30,000 $ 35,000 As this example indicates, any extra payment that cannot be attributed to a specific asset or liability is assigned to the intangible asset goodwill.

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