The Following Financial Information Is for Pasha Company,a Non-U

question 43

Essay

The following financial information is for Pasha Company,a non-U.S.firm with shares listed on a U.S.stock exchange:

If Pasha Company were following U.S.GAAP,the minority interest would have been classified as a liability instead of as part of stockholders' equity.In addition,minority interest income of $5,000 for the year would have been excluded from the computation of net income.Under U.S.GAAP the investment securities would have been classified as trading securities and the interest on financing of self-constructed assets would have been capitalized rather than expensed.
Prepare reconciliations of Pasha's reported stockholders' equity and net income to U.S.GAAP.

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Definitions:

Foreign Assignments

Work roles or projects assigned to employees which require them to live and work in a country different from their own.

American Employees

Workers employed in the United States, representing a diverse workforce subject to the labor laws and cultural practices of the country.

Cultural Discrimination

Prejudice or differential treatment based on cultural differences, often leading to the marginalization of a particular group.

Gender Discrimination

Unfair treatment or bias against individuals based on their gender, often resulting in unequal opportunities and impacts on professional and personal lives.