https://myindividualtutor.com/wp-content/uploads/2020/05/output-onlinepngtools-300x60.png 0 0 admin https://myindividualtutor.com/wp-content/uploads/2020/05/output-onlinepngtools-300x60.png admin2023-03-20 23:48:302023-03-20 23:48:30intermediate accounting 15
intermediate accounting 15
– due today
You have just joined a CPA firm. This is your first time working with the client. The client has asked for help in reporting some securities, and the audit manager on the job has asked you for recommendations on the reporting.
Provide a report that includes your recommendations on reporting, and its effect on carrying value and earnings in each of the following situations:
- The client has an equity security that has declined in value (i.e., the market value is less than what he or she paid for it [cost]). It is currently classified as available-for-sale, but the client would like to change its reporting to a trading security.
- The client has a combination of investments in a portfolio that are long-term investments. The portfolio has increased in value on the whole, but there is one stock whose value has fallen by more than 60%. The client thinks that this decline in value is permanent.
- The client has a portfolio of trading securities that has dropped 20% in value. He or she has another portfolio that is available-for-sale and its fair value has increased by 40%.
Looking for solution of this Assignment?
WHY CHOOSE US?
We deliver quality original papers
|Our experts write quality original papers using academic databases.|
|We offer our clients multiple free revisions just to ensure you get what you want.|
|All our prices are discounted which makes it affordable to you. Use code FIRST15 to get your discount|
|We deliver papers that are written from scratch to deliver 100% originality. Our papers are free from plagiarism and NO similarity|
|We will deliver your paper on time even on short notice or short deadline, overnight essay or even an urgent essay|