2023-06-27T12:15:26+00:00

Accounting for special purpose entities

This paper concentrates on the primary theme of Accounting for special purpose entities in which you have to explain and evaluate its intricate aspects in detail. In addition to this, this paper has been reviewed and purchased by most of the students hence; it has been rated 4.8 points on the scale of 5 points. Besides, the price of this paper starts from £ 79. For more details and full access to the paper, please refer to the site.

3. HP describes is pending litigation in note 17 (pp 136-143). Under what conditions can HP avoid recognition of these pending liabilities in its financial statements? 4. In its statement of stockholders` equity (p. 88), HP reports a cumulative translation adjustment (CTA) of $22 million, up from $2 million in 2003. a. Assuming that the company`s subsidiaries are solvent, how does a positive CTA arise? b. How has this cumulative equity adjustment affected reported profit? c. What does the increase in the CTA from 2003 imply about the relative value of the $US vis-à-vis other world currencies? 5. In its summary of the financial statement impact of recent accounting pronouncements (p 97), HP indicates that FIN 46(R) has not had a material impact. a. Briefly discuss how FIN 46(R) has affected the accounting for special purpose entities (SPEs). b. Briefly discuss the financial statement implications of the increasing use of qualifying special purpose entities (QSPEs). The attached has study questions around FIN 46(R) and SPEs. Please help me understand what the impact is as it related to HPs 10k.

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