You are a qualified chartered Accountant with Marvin Co. Ltd, a listed company that manufactures and Distributes Premium audio and visual equipment. The financial statements of Marvin are prepared up to 31th December each year in accordance with International Financial Reporting Standards (IFRS).
You encountered the following outstanding issues while preparing the Financial statements for the year ended 31 December 2016.
Prepare a justification with reference to relevant IFRS of accounting treatment suggested for each of the issues above, preparing supporting calculation and discussing the impact, where appropriate, on the consolidated statement of comprehensive income and consolidated statement of financial position for Marvin Co. for the year ended 30 December 2016.
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