58. According to the Preface to International Financial Reporting Standards, which of the following are objectives of the IASB? I. To harmonize financial reporting between IFRS and US GAAP and European II. To work actively with national standard setters Page 12 of 17 III. To promote the use and strict application of financial accounting standards A. I and II C. II and III B. I and III D. I, II and III

58. According to the Preface to International Financial Reporting Standards, which of the following are objectives of the IASB? I. To harmonize financial reporting between IFRS and US GAAP and European II. To work actively with national standard setters Page 12 of 17 III. To promote the use and strict application of financial accounting standards A. I and II C. II and III B. I and III D. I, II and III

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Discuss the impact of globalization on accounting theory and the need for harmonization of accounting standards across different jurisdictions.
In an audit of financial statements , the suitable criteria consists of, EXCEPT A. Philippine Accounting Standards B. Philippine Standards of Auditing C. Tax Regulations D. Philippine Financial Reporting Standards
Please help me. Thankyou.
Discuss about Regulatory authority for monitoring accounting standards and Financial Reporting in Oman and other GCC countries.
International fi nancial reporting standards are currently developed by which entity? B . Th e International Accounting Standards Board.
Identify and discuss the current regulatory framework or regulations encompassing the preparation of financial statements by reporting entities in Australia
IFRS stands for: a. International Federation of Reporting Services. b. Independent Financial Reporting Standards. c. International Financial Reporting Standards. d. Integrated Financial Reporting Services.
The International Accounting Standards Board (Board) issued the revised Conceptual Framework for Financial Reporting (Conceptual Framework), a comprehensive set of concepts for financial reporting, in March 2018.Required:Discuss the importance of the Conceptual Framework for financial reporting.
Discuss the impact of globalization on financial reporting, including the challenges and opportunities presented by international accounting standards and the need for harmonization of financial reporting practices.
Discuss the use of liquidity ratios (in accordance to BASEL III) as a valid focus for international regulations.