Question: Examine Notes 2 b ii and 7 Note 7 is in Exhibit
Examine Notes 2(b)(ii) and 7 (Note 7 is in Exhibit 11.4) to Brookfield's financial statements. What is an associate company and how are "associate" companies accounted for? What companies does Brookfield account for as associates? Which associate company had the highest carrying value on December 31, 2011 and what was its carrying value? Is it possible for an associate company to have an ownership interest greater than 50 percent? Explain. Why is equity-accounted income deducted from net income when calculating cash from operations?
Answer to relevant QuestionsExamine Note 27 to Brookfield's financial statements and answer the following questions on segmented information:a. Identify the business segments in which Brookfield operates. Which segment has the most revenues? Which has ...What is net income? Provide an explanation that would be understandable to a person who doesn't have a good understanding of accounting.What are the implications for financial statement analysis of the fact that managers can often choose among different, acceptable accounting methods? Provide examples of some of the accounting choices that managers have to ...In many ways, equity investors need to know everything. Explain why this is true.Describe a situation where a user of a private corporation's financial statements would be interested in segregating permanent and transitory earnings. Explain why the separation of the two types of earnings would be ...
Post your question