To satisfy geographic area disclosure requirements, what are the minimum and maximum numbers of countries for which information should be reported separately?

Q: Which of the following countries uses IFRS?a. Canada.b. Mexico.c. Brazil.d. All of these answer…

A: To follow uniform accounting standards international accounting standards board (IASB) issued IFRS.…

Q: Choose the correct. Which of the following statements is not true under U.S. GAAP?a. Operating…

A: Operating segments can be determined by looking at a company's organization chart Companies that…

Q: Please explain and analyze the effect of major differences between IFRS and U.S. GAAP related to the…

A: International Financial Reporting Standards (IFRS) are issued by International Accounting Standards…

Q: What is the IFRS adoption in the U.S. ? Please explain?

A: Step 1: Understanding IFRSInternational Financial Reporting Standards (IFRS) are a set of accounting…

Q: Why there is a need for exporters to understand “International Commercial Documents” which directly…

A: In international trade, a number of documents are created to protect both parties from  counter…

Q: describe general requirements for fi nancial statements under International Financial Reporting…

A: The IFRS is general standards of financial reporting along with US and UK GAAP.

Q: International fi nancial reporting standards are currently developed by which entity? C . Th e…

A: International Financail Reporting standards, Most commonly Known As IFRS. are group of…

Q: How do I conclude a legal memorandum

A: Legal memorandum:   A legal memorandum in simple words refers to a formal, polished and a…

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: 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: What is the intention of the Financial Market Authority creating Memorandum of Understanding…

A: Memorandum of Understanding (MOU) A memorandum of understanding (MOU) is a document that defines the…

Q: Should the United States also adopt IFRS?

A: International financial reporting framework (IFRS): International financial reporting framework is…

Q: Who are the members of International Integrated Reporting Council (IIRC)??

A: International Integrated Reporting Council (IIRC): The International Integrated Reporting Council,…

Q: How do IAASB audit standards compare to US audit standards?

A: The International Auditing and Assurance Standards Board (IAASB) is an entity which sets standards…

Q: Discuss the primary differences between U.S. GAAP and IFRS with respect to thebalance sheet,…

A: U.S. GAAP    The Generally Accepted Accounting Principles in the US (U S GAAP) refer to the…

Q: In general terms, identify several factors that prompt differ-ent countries to develop different…

A:

Q: How do differences in accounting controls and enforcement impact accounting reports prepared across…

A: Accounting controls are the procedures which are applied by a company for ensuring validity ,…

Q: Would the worldwide adoption of IFRS result in the worldwide comparability of financial statements?…

A: The IASB (International accounting standards board) is a board which is engaged in preparation of…

Q: How might differences in presentation of comparative data under GAAP and IFRS affect adoption of…

A:

Q: Which of the following statements is not true under U.S. GAAP?a. Operating segments can be…

A: Definition:   Generally Accepted Accounting Principles (GAAP): These are the guidelines necessary…

Q: what are disadvantages of national or international accounting uniformity?

A: National or International accounting uniformity means same accounting standards and accounting…

Q: What is a reportable segment in accordance with IFRS 8? What criteria are used in determining what…

A: The question is related to IFRS 8 Operating Segement.

Q: What is the relation of harmonization in international accounting

A: In accounting each country follows different types of accounting practices and standards.…

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: nting standards of a country with that of IASB is a

A: The Accounting Standard Board (ASB) of the Institute of Chartered Accountants of India (ICAI)…

Q: Detail and discuss the impact of cultural factors on differences in accounting between countries.

A: Accounting is the recording, classifying, summarizing of the monetary transactions in order to…

Q: What are some of the problems created by differences in accounting across countries and the reasons…

A: If different countries will adopt different standards of accounting, it will create a panic…

Q: What are three difference between IFRS and U.S. GAAP with respect to the measurement of financial…

A: Three differences between IFRS and US GAAP with respect to the measurement of financial statement…

Q: Explain the ‘qualifying asset’ and how do we treat exchange rate differences relating to the…

A: A qualifying asset is an asset that necessarily takes a substantial period of time to get ready for…

Q: Discuss regulatory disclosure requirements

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

Q: For whom were IAASB International Auditing Standards created?

A: IAASB International Auditing standards (ISA) were introduced for the setting an international…

Q: identify steps in reporting for foreign operations including sustainabity repirt

A: 1. Collect and Organise Data: Gather information related to foreign operations, including economic,…