Explain how to set the date of the first adoption of IFRS and first reporting date in accordance with IFR

Q: What is the intent of FASB Statement 13 and ASU 2016-02?

A: FASB 32 is a statement establishing the guidelines and procedures for reporting leases by lessors…

Q: Briefly describe the FASB/IASB convergence process and the principles that guide their convergence…

A: Definition:   International Accounting Standards Board (IASB): IASB is the board which frames,…

Q: What are the objectives and scope of all the standards of IFRS and IAS?

A: IFRS or International Financial Reporting Standards are the guidelines of accounting given by the…

Q: Indicate the organization related to IFRS that performs each of the following functions:1. Obtains…

A: International Financial Reporting Standards:   IFRS (International Financial Reporting Standards) is…

Q: Define declaration date

A: Answer: Declaration data is nothing a date the dividends are declared. This is usually done first…

Q: Explain The role of the IIRC & The integrated reporting under the CPA.

A: integrated reporting is considered to be an important tool in the understanding the relationship…

Q: State the key differences between IFRS and U.S. GAAP.

A: IFRS stands for International Financial Reporting Standards. These are accounting standards issued…

Q: of any Two updated IFR

A: The field of financial reporting in India has seen major changes in the last 5 years. As the trade…

Q: Define Disclosure notes.

A: Disclosure notes in accounting refers to the footnotes which are included in financial statements.

Q: List all the IAS and IFRS Standards, discuss briefly their definitions, thier objective and their…

A: The Accounting standards are the set of principles and procedures to be compulsorily adopted by the…

Q: FRSC Due Process 1. Approval of a standard or an interpretation by a majority of the FRSC members.…

A: FRFC Due Process - Correct Sequence: Consideration of pronouncement of IASB An exposure draft…

Q: To satisfy geographic area disclosure requirements, what are the minimum and maximum numbers of…

A: Segment Reporting It is the reporting of the operating segment of several business of a company that…

Q: What are the similarities and differences (if any) between the IPSASs and the IASs/IFRSs?

A: The international public sector accounting standard board (IPSASB) seems to be an unbiased…

Q: Discuss the implementation process or stages of GIFMIS In Ghana

A: The Gold Coast Integrated money Management system (GIFMIS) are disbursed in 156 metropolitan, town…

Q: ning Please answer questions c) What are the scopes of the IPSASs?  d)What are the similarities…

A: What are the scopes of the IPSASs? IPSASs set out recognition, measurement, presentation and…

Q: a) What is the IPSASB and reason(s) it was established?  b)What are the objectives of the IPSASB?…

A: Answer to the Part (a) The IPSASB stands for the International Public Sector Accounting Standards…

Q: 1. The Conceptual Framework may be revised from time to time. Revisions in the Conceptual Framework…

A: Disclaimer:- “Since you have asked multiple question, we will solve the first question for you. If…

Q: What is the importance of date of declaration, date of record, and date of payment?

A: Following are the importance of declaration date, record date and payment date in accordance with…

Q: The FHA implements its programs with which of the following procedures?

A: FHA has been successful in stabilizing the national housing market. It was created under the federal…

Q: FASB process of coding and issuing pronouncements.

A:

Q: Discuss regulatory disclosure requirements

A: Rules that must be abided by in disclosure statements provided to clients or customers. These…

Q: C. Select an organization. Prepare a list of measures (Any five )that could be benchmarked for any…

A: Benchmarking is a technique of identifying, understanding and adapting superior practices from…

Q: Describe the mission of the IASB.

A: The International Accounting Standards Board (IASB) is an independent, private-sector body that…

Q: statements related to the NYSE is correct

A: NYSE is the New York Stock Exchange.

Q: Discuss the objectives of segmental information and the requirements for the disclosure of segmental…

A: Segmental information is the way of providing the overall information about the functioning and…

Q: describe implications for fi nancial analysis of diff ering fi nancial reporting systems and the…

A: Financial report may be defined as the collection of major financial statements which are prepared…

Q: What is the difference between the terms of the definition and the terms of recognition in the…

A: The purpose of the conceptual framework is to assist the IASB in preparing and revising the…

Q: Arrange the following according to the correct sequence. 46. IASB Due Process 1. An exposure draft,…

A: Before any IFRS is issued or any changes for the existing IFRS is issued, the International…

Q: How is the date of transition and the date of reporting determined in first-time adoption of IFRS?

A: Date of transition is the beginning of the earliest period for which an entity presents full…

Q: Differentiate between IFRS vs. U.S. GAAP.

A: International Financial Reporting Standards (IFRS): IFRS are a set of international accounting…

Q: Identify and analyze the challenges you may face in reconciling the concept Bill of Lading and…

A: SOLUTION- Document of title:   Document of title refers to an instrument in writing that acts as…

Q: What are the Copies of all approved requisitions?

A: Requisition:-It is a process where one person requests using service or item. A requisition is a…

Q: S or amending for existing IFRS.

A: The International Accounting Standards Board (IASB) is an independent, private-zone frame that…

Q: journal entries to account for the rights issue with

A: Journal entry: A journal entry is used to record day-to-day transactions of the business by…

Q: What is interim reporting?

A: Financial Reporting:   It refers to the disclosure of the financial results of the organization to…