Question: QUESTION Chapter 15 Atlantic Properties (AP) is a property development company based in Halifax, Nova Scotia. They have an extensive portfolio, with residential and commercial

QUESTION Chapter 15 Atlantic Properties ("AP") is a property development company based in Halifax, Nova Scotia. They have an extensive portfolio, with residential and commercial properties in every major Atlantic Canadian city. AP is publicly traded and follows IFRS. You, CPA, work in the accounting department at Atlantic Properties, and have been tasked with classifying the financial instruments listed in Appendix 1 as either equity, liability, or compound. The Board is also concerned about AP's debt to equity ratio. Can you explain how improper classification of a financial instrument may impact this ratio? ASSESS the Situation: ANALYZE Major Issues: CONLUDE: & ADVISE

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