Identify the minimum balance sheet items that should be included in financial reportingaccording to the International Accounting Standard 1
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Identify the minimum balance sheet items that should be included in financial reporting
according to the International Accounting Standard 1
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- describe general requirements for fi nancial statements under International Financial Reporting Standards (IFRScompare key concepts of fi nancial reporting standards under IFRS and US generally accepted accounting principles (US GAAP) reporting systemExplain the role of the International Accounting Standards Board (IASB) in relation to International Financial Reporting Standards (IFRS).
- List the types of authoritative pronouncements that constitute International Financial Reporting Standards (IFRS).Present a historical overview of International Financial Reporting Standards (IFRSs) starting with the Statements of Standard Accounting Practice (SSAP)Distinguish between IASB standards and the Conceptual Framework for Financial Reporting
- How is the conceptual framework applied to IAS 1, IAS 8, and IAS 21? IAS is "International Accounting Standards"The US GAAP provides rules and guidance for what two primary financial reporting purposes? A. Recognition and measurement B. Risk assessment and presentation C. Recognition and presentation D. Initial and subsequent meaWhat is the full form of 'IFRS'? a. Informational financial reporting standard b. International financial reporting statement c. International financial reporting standard d. Institutional financial reporting X standard
- Difference between Financial Accounting Standards Board and International Accounting Standards Board. ExplainWhat is the applicable financial reporting framework in the U.S. known as? a. The Internal Revenue Code b. IFRS c. GAAP d. GAASThe US GAAP provides rules and guidance for what two primary financial reporting purposes? A. Recognition and measurement B. Risk assessment and presentation C. Recognition and presentation D. Initial and subsequent measurement
