Management and Organizational Studies 1023A/B Study Guide - Midterm Guide: Promissory Note, Working Capital, Issued Shares

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1023A/B
• Professor: Barry Hawn

Document Summary

Real values and international standards: all public companies in canada use ifrs, under ifrs assets are reported at current market value not historical cost. Ifrs lowers cost of doing international business for canadian companies: private companies have the option of following aspe set by acsb. The classified statement of financial position (balance sheet: balance sheet sub categories, assets. Investments: current assets, property, plant, and equipment, goodwill. Depreciation is used to calculate estimated useful life and their cost should be reported as cost minus accumulated depreciation (the amount of depreciation over entire life of asset). The difference between cost and accumulated depreciation is called carry amount or net book value. Intangible assets and goodwill: non-current assets that don"t have physical substance and represent a privilege fair value of the purchased company"s net identifiable or grant. Intangible assets are divided into two groups: those with definite lives and those with indefinite lives. The term amortization is used instead of depreciation.