COMM 313 Study Guide - Midterm Guide: Accrual, Income Statement, Income Tax
12 Nov 2015
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Test 2: comm 313: forward contract: foreign currency at inception no journal entry at year end, record change in derivative. Gain on currency derivative: future, at inception cost of contract. Cash: year-end same as forward except balance should deduct purchase price, convertible bond issuance, proportional method. : fv, by reliability (contributed surplus) ifrs & aspe: on issuance. : zero value to common equity aspe: on issuance. Dr. cash (# warrants exercised x shares/warrant x 29918/share) Contributed surplus warrants (# exercised warrants x price/warrant) Common shares (sum: employee stock options, recognized on grant date fv, exercisable vesting date, on purchase (every year end) Compensation expense (# options x $/option # yrs) Contributed surplus expired stock options: on exercise. Dr. cash (# of options x share/option x $ per share) Dr. cash (forward amount x current forward rate) Cash (current forward rate x value: hedging cash-flow, year-end adjustments. Dr. land (current value x current forward rate)
