Comprehensive Case Study$$

$($Attempt the following integrated case.$)$

Case Scenario: International Partnership, Government Grants, and NFP Consolidation

In $2025,$ Global Partnership LLP was formed between partners in the U$.$S$.,$ India, and Germany. Each contributed assets in local currency equivalent to $$100,000.$ The firm offers consultancy services across borders.

In the same year:

It established a not$-$for$-$profit educational trust to promote research, which received $$300,000$ in restricted donations.

It received a state grant of $$150,000$ for hosting a sustainability seminar.

The firm operates within a municipality and used local infrastructure supported by state$-$provided assets valued at $$80,000.$

Questions:

a$.$ Identify the accounting considerations related to international contributions and foreign currency translation$$

b$.$ Discuss audit and compliance issues relevant to the trust and government funding$$

c$.$ Prepare a consolidated report extract showing how the partnership might report the NFP activity for transparency$$