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AC 551 Unit 6 Codification Case Venus Cellular
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codification-case-venus-cellular
Analysis of Statement of Comprehensive Income: Venus Cellular
Venus Cellular Limited (“Venus”) is the leading, worldwide provider of a
wide variety of telecommunications equipment and services. Its
telecommunications equipment and services enable its customers to
send or receive virtually any type of voice or data transmission. Its
customers include fixed line and wireless telecommunication operators,
Internet service providers, governments, and businesses. Venus
prepares its financial statements in accordance with International
Financial Reporting Standards (IFRSs).
Question 1 — Identify whether the analysis of expenses in profit or loss
is presented by nature or function.
— Identify the alternative performance (operating)
measures presented in the statement of comprehensive income and
document your conclusions with regard to the appropriateness of the
various performance measures.
— Discuss any additional issues you have identified or
other observations.