Semester “FALL 2011”
“Financial Statement Analysis (FIN 621)”
This is to inform that Graded Discussion Board (GDB) has been opened according to the following schedule

Opening Date
October 21

Closing Date and Time
October 26, 2011 At 11:59 P.M. (Mid-Night)

Note: No extra or bonus/grace period is available for attempting GBD.

Discussion Question

“Mr. Jahanzaib has set up a new sole proprietorship business one year ago. At the end of the financial year, he has to prepare financial statements of the business. In the last month of the closing year, he had an offer to sell the freehold land for Rs. 600,000/- which was previously purchased for Rs. 400,000/-. Mr. Jahanzaib had reported the land in his balance sheet at Rs. 600,000/- considering the offered value. Requiredo you think that Mr. Jahanzaib has rightly reported the land’s value in the Balance Sheet? Justify your answer in the light of accounting principle(s) discussed in the video lectures. You are only required to mention the name of applied principle(s).

Details are not required.” Note: Your comments should not be more than 40 words.

Read the following instructions before giving your comments on GDB:

Use the font style “Times New Roman” and font size “12”.

Your answer should be relevant to the topic i.e. clear and concise.

Do not copy or exchange your answer with other students. Two identical / copied comments will be markedZero (0) and may damage your grade in the course.

Books, websites and other reading material may be consulted before posting your comments but copying or reproducing the text from books, websites and other reading materials is strictly prohibited. Such comments will be marked as Zero (0).

Obnoxious or ignoble answer should be strictly avoided.

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