a) As per US GAAP = 6,800,000
a) As per IFRS = (6,800,000 + 11,800,000)/2
=9,300,000
b)As per US GAAP = 4,800,000
b) As per IFRS = (4,800,000 + 9,800,000)/2
=7,300,000
c)As per US GAAP = Do not Accrue Liability
c)As per IFRS = (4,800,000 + 10,800,000)/2
=7,800,000
d)As per US GAAP = 11,800,000
d) As per IFRS = 11,800,000
US GAAP | IFRS | |||
a | Accure Liability | 6,800,000.00 | Accure Liability | 9,300,000.00 |
b | Accure Liability | 4,800,000.00 | Accure Liability | 7,300,000.00 |
c | Do Not Accrue Liability | - | Accure Liability | 7,800,000.00 |
d | Long term Liability | 11,800,000.00 | Short Term Liability | 11,800,000.00 |
Total | 23,400,000.00 | 36,200,000.00 |
2) US GAAP
HolmesWatson (HW) is considering what the effect would be of reporting its liabilities under IFRS rather...
HolmesWatson (HW) is considering what the effect would be of reporting its liabilities under IFRS rather than U.S. GAAP. The following facts apply: a. HW is defending against a lawsuit and believes it is virtually certain to lose in court. If it loses the lawsuit, management estimates it will need to pay a range of damages that falls between $5,000,000 and $10,000,000, with each amount in that range equally likely. b. HW is defending against another lawsuit that is identical...
HolmesWatson (HW) is considering what the effect would be of reporting its liabilities under IFRS rather than U.S. GAAP. The following facts apply: a. HW is defending against a lawsuit and believes it is virtually certain to lose in court. If it loses the lawsuit, management estimates it will need to pay a range of damages that falls between $5,200,000 and $10,200,000, with each amount in that range equally likely. b. HW is defending against another lawsuit that is identical...
HolmesWatson (HW) is considering what the effect would be of reporting its liabilities under IFRS rather than U.S. GAAP. The following facts apply: HW is defending against a lawsuit and believes it is virtually certain to lose in court. If it loses the lawsuit, management estimates it will need to pay a range of damages that falls between $6,600,000 and $11,600,000, with each amount in that range equally likely. HW is defending against another lawsuit that is identical to item...
HolmesWatson (HW) is considering what the effect would be of reporting its liabilities under IFRS rather than U.S. GAAP. The following facts apply: HW is defending against a lawsuit and believes it is virtually certain to lose in court. If it loses the lawsuit, management estimates it will need to pay a range of damages that falls between $6,100,000 and $11,100,000, with each amount in that range equally likely. HW is defending against another lawsuit that is identical to item...
HolmesWatson (HW) is considering what the effect would be of reporting its liabilities under IFRS rather than U.S. GAAP. The following facts apply ed a. HW is defending against a lawsuit and believes it is virtually certain to lose in court. If it loses the lawsuit, management estimates it will need to pay a range of damages that falls between $6,100,000 and $11,100,000, with each amount in that range equally likely. b. HW is defending against another lawsuit that is...
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