21.1 ……… is applied by an entity to identify its joint ……….. and the type of joint arrangement that it is involved in by assessing the...

22.1 The use of accounting software is …….. method of generating accounting information. 22.2 ………… is a technology-based protocol used...

23.1 Corporate social and environmental reporting has been used to describe a broad range of information about how ….. affects people...

Deep Exploration Company Limited has been operating in Umukobia, a town in South-South Nigeria. Due to the pollution caused by...

Explain any other benefits of blockchain accounting technology. Suggested answer to practice activity 22.4

Assume that a manual or paper system of processing financial transactions is in use by ABC Ltd. Remember to use folio columns when...

On 1 January 2022, Sunny Bright Wears Limited and Made to Last Leather Limited entered into a contractual arrangement to produce leather...

Practice Activity 21.6 IFRS 11 implications of the presence of several joint arrangements in a contractual arrangement Assume that People...

Assume that People Furniture Limited, Good Steel Limited, and Fine Glass Limited enter into a contract to produce furniture and related...

Assume that People Furniture Limited and Good Steel Limited enter into a contract to produce the furniture and related accessories....

On 1 March, 2021, the directors of Nkirukaazu Leather Limited have agreed to reacquire its shares for ₦45,000,000. Required: Journalise...

Practice Activity 20.12 Issue of shares by a company – Recognising the financial instrument in the books of the issuer On 3 January 2021,...

Practice Activity 20.10 Issue of shares by a company – Recognising the financial instrument in the books of the investor Nkemdinakachukwu...

Nkumedinakachukwu Farms Plc has been operating in Awka, a town in South-East Nigeria since 2010. On 1 January 2017, Nkumedinakachukwu...

Nkemdinakachukwu Electronics Plc issued 1,000,000 ordinary shares to the public at ₦1.50 each. The company does not have an obligation to...

Assume that a Munachim Limited acquires a part of Odumegwu Limited’s ordinary shares. Required: What is the nature of the financial...

Assume that Oganiru Limited issued 10 percent 500,000 loan notes at ₦1.00 each to Ekenedilichukwu Limited. Required: Identify the...

Practice Activity 19.4 Preparation of statements of profit or loss for the head office and foreign branch combined The facts are the same...

Practice Activity 19.3 Conversion of a foreign branch’s trial balance to the head office’s functional currency Abbey Limited was...

Bay Limited was incorporated on 4 January 2018. The Company operates in Nairobi, Kenya. On 31 January 2019, the Company opened a branch...