CPA Handbook Assignment - Fall 2020   Description Student are required to find and use the CPA Handbook to review the recommended handling of Bonds Payable

CPA Handbook Assignment - Fall 2020

Description

Student are required to find and use the CPA Handbook to review the recommended handling of Bonds Payable. Specifically, in chapter 10 of our textbook, a description Provisions and Contingent Liabilities is given. The purpose of this assignment is to research the prescribed handling of Contingent Liabilities in the CPA Handbook with regard to disclosure and/or provisions. Your research of this topic should include the following:

1. Confirm the specific instructions found in the text regarding the handling of contingent liabilities;
2. Determine if the Handbook permits alternative treatment other than presented in the textbook, or;
3. Show that the Handbook does not address the handling of contingent liabilities.

Evaluation

The quality of your response will depend on specific references to the Handbook (i.e. paragraph reference numbers) to support your analysis and conclusion (i.e. one of the three conclusions above). The length of your submission should be no less than two pages and no more than five (double spaced).

Due Date

Several weeks are allowed to complete this assignment (due no later than last class – week 14).

Hints

The CPA Handbook is a Humber College provided resource and can be found online.  To access the Handbook browse the Humber “Database List” and search for “CPA Canada Standards and Guidance Collection”. You are permitted to limit your search (under “Accounting” section) to either: “Part I -IFRS Standards” or “Part II – Accounting Standards for Private Enterprises”.

Submission

The submission of your completed assignment must be uploaded in Blackboard assignments prior to the due date.