Решение задач «Task 1 the bank issued a loan to the company rose for 3 months...»,
МСФО в Санкт-Петербурге

Task 1 The Bank issued a loan to the Company Rose for 3 months period (January – March 2021). Interest is paid to the Bank at the end of the loan agreement period (=end of March). Total amount of the interest is EUR 1 500. Please present the accounting entries related to the interest accounting at the Bank using the accrual basis method of accounting and explain the advantages of such method for the Banks’ financials. Task 2 At October 01st, 2021 the Central Bank started an on-side inspection of the Bank and, in particular, the completeness of loan loss provision. The credit analyst Vasily knows that the Bank understated the IFRS LLP on the loan to the Company ‘Star’ (the understated LLP is amounted to RUR 100 000 000). Vasily is in process of assessing the following scenarios: 1. To create the LLP for the understated amount today; 2. Not to create LLP today, to present the current situation to the Central Bank inspectors as it is now. 3. To create the LLP as of the past date i.e. when it should have been created. Please assess the possibility to use each of these three scenarios and the impact of each scenario on the Banks’s financial position, financials and reporting. Choose the appropriate scenario out of these three. Task 3 Balance sheets of two banks "Rose" и "Tulip" as at 31.12.2018 (in USD) presented below. Additional info: 1) As at 31.12.2017 the Rose acquired 48 000 shares of the Tulip for USD 80 000 which were paid in cash. 2) As at 31.12.2018 the Rose sent a check to the Tulip for the amount USD 500, which has not been received by the Tulip until January 31, 2019. 3) Starting from the acquisition date the goodwill did not depreciate. Please prepare the consolidated BS of the Group. BS item Rose Tulip Long-term assets: Fixed assets 84 000 58 200 Investments 80 000 0 Current assets: Current account – Rose 0 3 200 Accounts with other banks 10 000 3 000 Financial investments 0 2 500 Loans 62 700 21 100 Settlements 18 000 12 000 Goodwill Total assets 254 700 100 000 Liabilities: Current account– Tulip 2 700 0 Customer deposits 35 000 11 000 Equity: Paid-in capital (share nominal 1 USD) 120 000 60 000 Share premium 18 000 0 Revaluation reserve as at 01.01.2018 23 000 16 000 REas at 01.01.2018 40 000 8 000 Profit for 2018 16 000 5 000 Non-controlling share Total Liabilities and Equity 254 700 100 000 Task 4 Your task is to identify each company based on your knowledge of its industry structure. Even if you are not familiar with the individual companies, collectively you know enough about their industries to do this exercise. ·Airline ·Car manufacture ·Bank Explain your reasoning. Balance sheet A B C Cash and cash equivalents 11,4% 12,2% 11,9% Receivables 7,3% 58,8% 5,1% Inventories 16,6% 1,2% Other current assets 11,8% 1,4% Total current assets 47,1% 71,0% 19,6% Plant & equipment 29,6% 1,3% 62,3% Investments 3,8% 23,5% 11,3% Intangible assets (goodwill) 9,5% 1,0% Other noncurrent assets 9,9% 4,2% 5,8% Total noncurrent assets 52,9% 29,0% 80,4% Total assets 100,0% 100,0% 100,0% Account Payables 12,1% 51,5% 4,4% Short term debt 5,4% 18,7% 6,9% Other current liabilities 9,2% Total current liabilities 17,5% 70,2% 20,6% LT debt (+leases) NA 13,6% 52,6% Other noncurrent liabilities 46,6% 14,0% 10,1% Total liabilities 64,1% 97,7% 83,3% Common stock 9,3% 0,3% 5,9% Retained earnings 26,5% 2,0% 10,8% Total equity 35,9% 2,3% 16,7% Total liabilities & equity 100,0% 100,0% 100,0% Annual Sales growth 4,6% 18,7% 10,0% Gross profit/Sales (%) 23,5% SG&A/Sales (%) 12,1% 27,7% Op profit/ Sales (%) 6,1% 10,7% 4,3% Net profit/Sales (%) 3,5% 5,6% 2,7% Operating performance: Op profit / Sales 6,1% 10,7% 4,3% Op profit / Total assets 8,5% 0,9% 2,0% Asset productivity: Revenue/Current assets 2,98 0,12 2,40 Inventory (days) 56 9 Receivables (days) 19 40 Payables (days) 41 35 Cash cycle (days) 34 14 ROE decomposition: Net profit/Sales 3,5% 5,6% 2,7% Sales/Total assets 1,41 0,08 0,47 Total assets/equity 2,79 43,37 6,00 Net profit/equity 13,8% 19,9% 7,6% Risk measures: Liquidity: Current ratio 2,68 1,01 0,95 Quick ratio 1,74 1,01 0,90