Financial Reporting

 Advanced Accounting
Part 2

TEACHER’S MANUAL

2015
BASED ON
PHILIPPINE FINANCIAL REPORTING STANDARDS (PFRSs)
Dear fellow teacher,

This “Teacher’s Manual” should be used solely by the teacher and for
classroom purposes only. This manual should NOT be reproduced
either manually (e.g., printing or photocopy) or electronically (e.g.,
copying or uploading to the net) without my written consent (or the
publisher’s written authorization).

If you have comments, queries or suggestions, please do not hesitate

to contact me (mobile no. 09178706962; email ad:
zeus.millan@yahoo.com).

Thanks and God bless.

Sincerely,

Zeus Vernon B. Millan

“ 

 ANONYMOUS
 TABLE OF CONTENTS

CHAPTER 13 – BUSINESS COMBINATIONS (PART 1) .............................................1

Multiple Choice – Theory ....................................................................... 1
Multiple Choice – Computational  ......................................................... 1
Exercises ................................................................................................. 7 
CHAPTER 14 – BUSINESS COMBINATIONS (PART 2) ........................................... 15
Multiple Choice – Theory ..................................................................... 15
Multiple Choice – Computational  ....................................................... 15
Exercises ............................................................................................... 22
CHAPTER 15 – BUSINESS COMBINATIONS (PART 3) ........................................... 31
Multiple Choice – Theory ..................................................................... 31
Multiple Choice – Computational  ....................................................... 31
Exercises ............................................................................................... 35
CHAPTER 16 – CONSOLIDATED FINANCIAL STATEMENTS (PART 1) ........................ 39
Multiple Choice – Theory ..................................................................... 39
Multiple Choice – Computational  ....................................................... 39
Exercises ............................................................................................... 45
CHAPTER 17 – CONSOLIDATED FINANCIAL STATEMENTS (PART 2) ........................ 56
Multiple Choice – Computational  ....................................................... 56
CHAPTER 18 – CONSOLIDATED FINANCIAL STATEMENTS (PART 3) ........................ 62
Multiple Choice – Theory ..................................................................... 62
Multiple Choice – Computational  ....................................................... 62
CHAPTER 19 – CONSOLIDATED FINANCIAL STATEMENTS (PART 4) ........................ 88
Multiple Choice – Theory ..................................................................... 88
Multiple Choice – Computational  ....................................................... 88
CHAPTER 20 – SEPARATE FINANCIAL STATEMENTS ...........................................105
Multiple Choice – Theory ................................................................... 105
Multiple Choice – Computational  ..................................................... 105
Exercises ............................................................................................. 106
CHAPTER 21 – THE EFFECTS OF CHANGES IN FOREIGN EXCHANGE RATES ............. 107
Multiple Choice – Theory ................................................................... 107 
Multiple Choice – Computational  ..................................................... 107 
Exercises ............................................................................................. 127 
CHAPTER 22 – ACCOUNTING FOR DERIVATIVES AND HEDGING TRANSACTIONS (PART
1) ............................................................................................................ 159
Multiple Choice – Theory ................................................................... 159
Exercises ............................................................................................. 159
CHAPTER 23 – ACCOUNTING FOR DERIVATIVES AND HEDGING TRANSACTIONS (PART
2) ............................................................................................................ 160
Multiple Choice – Theory ................................................................... 160
Multiple Choice – Computational  ..................................................... 160
 Exercises............................................................................................. 171
CHAPTER 24 – ACCOUNTING FOR DERIVATIVES AND HEDGING TRANSACTIONS (PART
3) ............................................................................................................ 183
Multiple Choice – Computational  ..................................................... 183
Exercises ............................................................................................. 197 
CHAPTER 25 – ACCOUNTING FOR DERIVATIVES AND HEDGING TRANSACTIONS (PART
4) ............................................................................................................ 219
Multiple Choice – Theory ................................................................... 219
Multiple Choice – Computational  ..................................................... 219
CHAPTER 26 – CORPORATE LIQUIDATION AND REORGANIZATION ....................... 228
Multiple Choice – Theory ................................................................... 228
Multiple Choice – Computational  ..................................................... 228
Exercises ............................................................................................. 236