Sample Finance Assignments

Running head: FINANCE ASSIGNMENT 1
Finance Assignment
Student’s Name
Institution Affiliation

FINANCE ASSIGNMENT 2
Ques. 2A: BS Transaction
Answer: A and B
The IFRS book keeper should modify the financial statements of the current financial
year when there is enough information to show that a balance sheet item will be misstated if a
consideration is not given to post-balance sheet events. In scenarios A & B, the events occasion a
necessity to amend the balance sheet. The stock values in scenario A should be reduced by 50
million UHF and the loss posted to income statement. In scenario B, the unrecoverable
receivables of 20 million UHF should be written off. Scenarios C and D do not have an effect on
the financial statements.
Ques. 2B: Intangible Assets
The true statements are as shown below:
in case a) this the research cost is an expense and cannot be capitalized
In case b) this can be recognized as intangible assets, but amortization cannot be recognized
In case c) this can be recognized as intangible asset, but amortization can be recognized
Que. C)
Answer: A and B
The company should make amendment for case A and case B for as both cases will affect the
accuracy of information being reported in the balance sheet. The inventory balance should be
reviewed downwards by 20million HUF and the receivable balance written-off by 20 million
UHF
Question D
Answer: B
The asset will be classified as investment property for the company is earning rental income.