Full name ID

Nguyễn Thị Thảo Trang 31221021691

Lê Hồng Trinh 31221024160
Nguyễn Ngọc Nguyên Phương 31221025316
Nguyễn Thị Thanh Huệ 31221022867
1.1 Qualitative characteristics of useful information
1
(1) Accountants record this transaction based on the characteristics of faithful representation according to th
framework.
Because this transaction has complete and accurate information about the arising of an obligation to be perfo
future, which is to lease assets to be recorded as a liability.
(2) Accountants record this transaction according to relevance according to the conceptual framework.
Because the decision to revalue assets is based on the values determined in the income statement combined
anticipated assessment of asset values and future income, this operation is Recorded according to relevance.
(3) Accountants record this transaction according to characteristics that can be compared according to the co
framework.
When preparing the 2020 financial statements, the accountant changes the beginning inventory balance acco
weighted average method so that the inventory account figures are measured in the same way during the fisc

2
Because many stores are operating at a loss, Lee doubts the company's assumption of continuous operations
31, 2020. According to the conceptual framework, shows what the company accountant should do at the tim
financial statements for the accounting year ending December 31, 2020.
 The company should reevaluate assets as well as prepare financial statements based on a different assump
 ation according to the conceptual

obligation to be performed in the

ual framework.
statement combined with the
cording to relevance.
d according to the conceptual

ventory balance according to the

me way during the fiscal year. that's it.

ontinuous operations as of December

t should do at the time of preparing

on a different assumption.
 1.2
(1) According to the conceptual framework, 1.8 billion is not recorded as a reduction in account receivables
Sunny is obliged to refund the account receivables that Finease cannot recover after 6 months (Sunny stills i
this Asset, so it cannot be written off), must be recognized as a liability. Additionally, Sunny will have to re
million in administrative cost with Finease as the liability management for Sunny at a fee of 10 million/mon
Sunny will record the interest expense of 36 million VND (1.8 billion * 2%) as a financial expense because
customers are due or have paid in September. And record an increase 36 million VND for account payable t
company.
(2) In this transaction, 10 billion cannot be recorded as sales revenue because Sunny still has control over th
with the right to buy back the goods at any time within two years. Sunny is still liable for carrying costs asso
this batch of goods. Therefore, this 10 billion is considered as a secured loan payable by inventory. And reco
million as carrying costs.
 account receivables because
months (Sunny stills in control of
Sunny will have to record 10
ee of 10 million/month. Next,
cial expense because no
for account payable to Finease

ll has control over the goods,

or carrying costs associated with
y inventory. And record 60
Calculate present value according to 4 measurement models

Historical cost = purchase price - accumulated depreciation

Net realizable value = selling price - selling costs
Current price = purchase price of equivalent asset - accumulated depreciation of
equivalent asset
Asset value according to current value
1. present value of cash flows in the
first 2 years

2. present value of cash flows in

year N+2

Asset value according to current value asset value at current prices

60000 (trđ)
49500 (trđ)

66000 (trđ)

43,388,43 (trđ)

63,397,3 (trđ)

95,782,89 (trđ)
( 100,000 - 40 000)
(50,000 - 500)

(110,000-40,000*110,000/100,000)

(25,000/1,1)+(25,000/1,1^2)

(20,000/1,1) + (20,000/1,1^2) + ( 20,000/1,1^3) +(20,000/1,1^4)

(43,388,43+ 63,397,3 / 1,1^2)

1.7 Capital maintenance

Enterprise A started business on January 1, x1 with initial equity of 2,000 M VND, used to purchase
200 products at a price of 10 M VND/product. On December 31/x1, 200 of these products were sold
outside at a selling price of 2,200 M VND. In year x1, the price of this product increased to 10.75 M
VND/product and the price index increased by 5%.

Case 1
FCM Physical CM
Acc items
Monetary term Constant PP
Inventory (1.1.x1) 2,000 2,000 2,000
Inventory (31.12.x1) 2,200 2,100 2,150
Revenue 2,200 2,200 2,200
Profit or Loss 200 100 50

Case 2

FCM Physical CM
Acc items
Monetary term Constant PP
Revenue 2,200 2,200 2,200
COGS (2,000) (2,000) (2,150)
Profit activity 200 200 50
Adjust inflation on the
capital at the beg. - (100) -
Total profit 200 100 50
 VND, used to purchase
ese products were sold
ct increased to 10.75 M

2100 = 2000*105%
2150 = 200*10.75