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

Q: What would happen if both GAAP and IFRS adopted fiar value accounting? Consider both consoldiation…

A: GAAP GAAP, or usually Accepted Accounting Principles, could be a commonly recognized set of rules…

Q: Describe any differences in segment disclosure requirements between U.S. GAAP and IFRS.

A: International Financial Reporting Standards IFRS is a set of global accounting standards issued by…

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: What follows is a very explicit discussion of like-kind exchanges under IRC provisions?

A: Section 1031 of IRS  refer to the exchange of one financial property for another that allows…

Q: what are the requirements for registration for TMCs/TAs with the Securities and Exchange Commission

A: Securities and Exchange Commission means the board which control all the activities of a company .…

Q: Discus basic methods used to settle international transactions.

A: When the goods and services are traded outside the national boundaries it is known as international…

Q: Discuss the primary differences between U.S. GAAP and IFRS with respect to investments.

A: GAAP: It is the standard guidelines that are commonly used for financial reporting. These guidelines…

Q: what does it mean by " How secure are documentary payment terms" in international trade?

A: International trade refers to exchange of the services and the goods between nations. Consumers and…

Q: state the importance of Balance of International Payment

A: The Balance of International Payment (or simply the Balance of Payment or BoP) is that statement…

Q: Briefly discuss the differences between (A) adoption of IFRS by the U.S. Securities and Exchange…

A: IFRS stands for International Financial Reporting Standards are the set of standards designed with…

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: 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 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: How does IFRS differ from current U.S. GAAP with respect to accounting for impairments?

A: When the asset value reduces due to market or technological factors which it turn fall below its…

Q: Two examples of means of internationalisation?

A: Internationalization is described as the method of product designing process through which customer…

Q: Analysing the likely reasons why the USA has not yet fully adopted IFRS

A: International Financial Reporting Standard (IFRS) : Intended to make financial statements of…

Q: Some say that IFRS are now GAAP in the European Union. How is this statement true, and how is it…

A: IFRS is the organization which set up the accounting standards to be followed by all the companies…

Q: aims of the Basel II capital accords

A: The Basel Committee on Bank Supervision (BCBS) established the Basel Accords, a series of three…

Q: Explain the mode of delivery in foreign contracts.

A: It is defined as the delivery as a part of the contract of trade between the seller and the buyer.…

Q: How are IFRS currently used in the United States?

A: International Financial Reporting Standards:   They are commonly known as IFRS. It is a set of…

Q: difference between IFRS standardization and harmonization

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

Q: [Based on Appendix 4] What is the primary difference between interim reports under IFRS and U.S.…

A: Generally Accepted Accounting Principles (GAAP): Generally Accepted Accounting Principles are the…

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: 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 organization is responsible for promulgating U.S.​ GAAP?

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

Q: Discuss the Legislative Authority of VAT in Trinidad and Tobago

A: Tax Revenue: Tax revenue is the pay acquired by the public authorities through tax collection. The…

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 is the primary difference between interim reports under IFRS and U.S. GAAP?

A: IFRS and GAAP:

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

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

Q: (Based on Appendix 3) Describe any differences in segment disclosure requirements between U.S. GAAP…

A: Definition: International Financial Reporting Standards: IFRS is a set of global accounting…

Q: How might a license for symbolic intellectual property be treated differently under IFRS as compared…

A: International Financial Reporting Standards: They are commonly known as IFRS. These are set of…

Q: Define Eurobond.

A: Eurobonds allows corporations to raise funds by issuing bonds in a foreign currency. The bonds are…

Q: Discuss the need to include the leverage ratio and off-balance sheet assets in Basel III

A: Leverage ratio in Basel III was introduce to reduce the risk of such periods of deleveraging in…

Q: list and explain differences and similarities between Us GAAP and IFRS in recording process

A: Accounting is a process of recording financial transactions pertaining to a business.

Q: Briefly discuss the differences between (a) adoption of IFRS by the U.S. Securities and Exchange…

A: There are two possible paths for the United States to align the U.S Generally Accepted Accounting…