Effective interest method gaap
[DOC File]The GAP, Inc
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Subsequent to capitalization, the leased assets are depreciated and the liability is paid using the effective interest method similar to the recognition of interest expense and principle payments in the accounting for bonds. Following is a page from the FedEx 2005 annual report. Use this information to answer the following questions:
[DOC File]Table of US GAAP, IFRS and Intermediate Textbook chapters ...
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Discuss the method used under IFRS and US GAAP to account for uncollectible accounts receivable. US GAAP and IFRS have a similar loans and receivables category of financial assets. True or False. Subsequent measurement of loans and receivables is at amortized cost using the effective interest method under IFRS. True or False
[DOC File]MULTIPLE CHOICE QUESTIONS
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a. to interest expense over the remaining term of the bonds. b. only if the effective-interest method is used. c. to interest revenue over the remaining term of the bonds. d. if the investor owns 20% or more of the bonds. Use the following information for questions 36 – 38.
[DOC File]CHAPTER 1
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The effective interest method is more difficult to apply than the straight-line method, but it must be used when the results of the two methods differ significantly. To apply the effective interest method to the amortization of a discount, it is first necessary to determine the market interest rate for similar securities on the issue date.
[DOC File]Risk Transfer in Reinsurance Contracts
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Dec 07, 2004 · We have included the GAAP reference in chronological order based on the effective date of each pronouncement. FAS No. 5 - Accounting for Contingencies - (07/75) FAS No. 5 defines the criteria for accruing loss contingencies.
[DOC File]Universitat Pompeu Fabra - Pompeu Fabra University
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Under U.S. GAAP all interest charges relating to debt instruments whose interest rates are scheduled to change or have interest "holidays" or forgiven in periods are required to be calculated in accordance with the "effective interest method" This method calculates the estimated interest charges over the life of the debt, and allocates this ...
[DOC File]Chapter 7
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When bonds are issued at a discount, the firm will amortize a portion of the discount each year according to the effective interest rate method. Each period the firm’s recognized interest expense will exceed the cash outflow for the coupon payments made by the company. ... According to U.S. GAAP these interest payments are classified as ...
[DOCX File]Statutory Accounting Principles Working Group
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Staff Note – Although explicit detail is not planned for the SSAP, the short-cut method and critical terms match method are current methods permitted under U.S. GAAP retained under ASU 2017-12. Under these methods, an entity may qualitatively assume, in very limited circumstances, that a hedging relationship is highly effective and that there ...
[DOC File]Understanding GAAP, GAAS, and the Accounting Cycle
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One key aspect of GAAP is an emphasis on "general" as a practical realization of variability in method. GAAP accommodates some variation in applied accounting methods as long as the methods generally adhere to this set of principles, which are more broad than specific. GAAP embodies the historical cost, accrual basis of accounting (although ...
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