Answer to Question #287600 in Accounting for Hase

Question

1, Bonds with a nominal rate of interest of 7% are issued to yield 8% will bond sell at a premium or a discount?

2, Compare and contrast Petty Cash and Voucher Payable by giving tangible examples how to undertake both systems.

3, Write at least six types of short-term investment (discuss detail distinction features of each security). 

4, Write history of IFRS adoption in Ethiopia: role of IFRS in the development of accounting standards in Ethiopia and challenges of adopting IFRS.

Answer 1

1. Sold at a discount
2. A voucher is a special payment document of a certain denomination, which can be accepted for payment of orders on a par with cash. This is a non-cash type of settlement, which can be both fiscal and non-fiscal. That is, vouchers can first be distributed for cash, for example, at a discount (or the discount will be provided upon payment), and then accepted for payment. Or distributed free of charge, for example, in the case of marketing campaigns.Cashier is cash only
3. Securities: stocks, bills, futures, forwards, short-term bond
4. The study showed that some companies in Ethiopia have started to voluntarily use IFRS to prepare their financial statements since 2002/03 without the necessary preparation, but at the national level; IFRS were formally adopted in December 2014 through the adoption of the Proclamation