The board of directors of ABC Inc. decided on December 15, 20XX, to wind up international operations in the Far East and move them to Australia. The decision was based on a detailed formal plan of restructuring as required by IAS 37. This decision was conveyed to all workers and management personnel at the headquarters in Europe. The cost of restructuring the operations in the Far East as per this detailed plan was $2 million. How should ABC Inc. treat this restructuring in its financial statements for the year-end December 31, 20XX?

  

Answer rating: 100% (QA)

ABC Inc should treat the restructuring cost of 2 million related to moving international operations ... View the full answer