In what ways does the IASB differ from the IASC?

Q: Why is the concept of independence such an internal part of AICPA Code?

A: AICPA is American Institute of Certified Public Accountants, which is the leading organisation and…

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: Explain Regulatory Provisions?

A: Regulations: The regulation is processed by which a complex system is managed under a set of rules.

Q: Which is the primary source of SEC independence rules?

A: The primary source of SEC independence rules is Rule 2-01   Rule 3526 deals with the communication…

Q: Which of the following is not a required fi nancial statement according to IAS No. 1? A . Statement…

A: IAS 1 deals with the presentation of FS (financial statements). This standard explains all the rules…

Q: What are International Ethical Standards?

A: Ethics:   In business, ethics refer to implementation of business policies and practices that an…

Q: What exactly are Institutional Review Boards (IRBs)?

A: This question explains about Institutional Review Boards (IRBs):

Q: Why should regulatory regimes be ‘proportionate’ and ‘real-time’? What are the fundamental building…

A:

Q: How do the non-GAAP measures differ from related official GAAP measures?

A: Generally Accepted Accounting Principles  or GAAP  provides an uniform set of rules and formats…

Q: What are some of the differences in elements in the IASB and FASB conceptual frameworks?

A: Financial accounting standards board (FASB): This is the organization which creates, develops, and…

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: What are the powers of the BIR Commissioner?

A: Powers of BIR commissioner are as follows,  1. He can require additional procedures and documents.…

Q: What is the main objective of IASB?

A: IASB: International Accounting Standards Board is abbreviated as IASB.  IASB is the organization…

Q: What are the general jurisdictional rules? Discuss some of the exceptions to these rules.

A: Jurisdiction Rules Jurisdiction in the law which implies that the right of the court to hear the…

Q: How are IFRS and the codification related? Do you feel that IFRS adoption could happen without…

A: The question is related to International Financial Reporting Standards (IFRS) and Codification. The…

Q: What is the important differences that exist between U.S. GAAP and IFRS?

A: U.S. GAAP is the accounting standards laid forth by the Financial Accounting Standards Board (FASB).…

Q: Are the differences between IFRS and U.S. GAAP significant? Explain

A: IFRS:-These are the International Financial Reporting Standards which followed by the companies,…

Q: Describe the FASB–IASB convergence process and SEC recognition of IFRS.

A: IASB: International Accounting Standards Board is abbreviated as IASB.  IASB is the organization…

Q: What are the different ways a country might use IFRS?

A: International Financial Reporting Standards refers to the accounting standards which is issued by…

Q: In the United States, GAAP comes under the purview of the

A: In United states, GAAP comes under the purview of the Financial Accounting Standards Board (FASB).

Q: What statutes does the Commerce Commission have oversight of?

A: In the year 1986, a commission known as commerce commission was established with an aim to regulates…

Q: IPSASB What are the scopes of the IPSASs? What are the similarities and differences (if any) between…

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

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: Mention and describe some FASB concepts, principles, standards, and rules and how they differ from…

A: Given: The concept of FASB and their differences.

Q: Is the threshold for recognizing a provision under IFRS different than it is under U.S.GAAP?…

A:

Q: What is the primary difference between commissions and referrals?

A: Referral fee refers to referring a service or recommending a service of CPA to other person or…

Q: difference between IFRS standardization and harmonization

A: Financial Reporting (IFRS) are a set of accounting principles for financial reporting published by…

Q: What did the FASB and IASB agree to do in the Norwalk Agreement?

A: Financial accounting standards board (FASB): This is the organization which creates, develops, and…

Q: What is TDS on commission, what is stated under section 194 H?

A: The income statement of the company will be prepared, and maintained by the management which will…

Q: Why is independence the main conduct the most important in the GAAS

A: Generally Accepted Auditing Standards (GAAS) are a set of detailed instructions that auditors follow…

Q: Which of the following is not a recognized approach to standard-setting? A . A rules-based approach

A: Answer:   Recognized approach to standard setting

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: What is the purpose of the IPSASB and what are the reasons for its establishment?

A: This question tells about the purpose of the IPSASB and what are the reasons for its establishment .

Q: Why is the FASB Codification Project so important to the U.S. adoption of IFRS? What is the status…

A: IFRS termed as International Financial Reporting Standards which are the accounting standards issued…

Q: What are the overall IFRS and IAS standards' aims and scope?

A: This question tells about the overall IFRS and IAS standards' aims and scope:

Q: What is covered by Regulation S–K?

A: Securities and Exchange Commission (SEC):   The board which set rules for the companies for…

Q: What are some exceptions to UBIT provided by legislation?

A: The question is related to some exceptions to Unrelated Business Income tax .Unrelated business…

Q: Has the IASB-FASB convergence process been successful?

A: Financial accounting standards board (FASB): This is the organization which creates, develops, and…