International Accounting
5th Edition
ISBN: 9781259747984
Author: Doupnik, Timothy S., Finn, Mark T., Gotti, Giorgio
Publisher: Mcgraw-hill Education,
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Question
Chapter 12, Problem 8Q
To determine
Identify three sections of the Form 10-K potentially affected by the disclosure rule.
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Students have asked these similar questions
The SEC requires a publicly traded company to disclose in its financial statements (Form 10-K) any material economic risk related to the following environmental issue:
(Students should visit the SEC website, www.sec.gov, for supplemental resources.)
What was the SEC’s response to the FASB’s handling of accounting for oil- and gas-producing companies, and why was this action considered so significant?
Which statement is most TRUE regarding
Corporate Social Responsibility (CSR)
Reporting as of April, 2022?
[Most choices are blatantly, outrageously
false. This is a fluid area so next year the
answer may be different]
a. In the U.S., the PCAOB exercises
responsibility for setting CSR standards.
b. There are no requirements for CSR
Reporting for publicly-traded U.S.
companies
c. In the U.S., the SEC has delegated
standard-setting for CSR to the AICPA.
d. The FASB has agreed to endorse the use
of IASB standards, by U.S. companies, for
their CSR reports
Chapter 12 Solutions
International Accounting
Ch. 12 - What is sustainability reporting?Ch. 12 - Prob. 2QCh. 12 - What is the Global Reporting Initiative (GRI)?Ch. 12 - Prob. 4QCh. 12 - Prob. 5QCh. 12 - Prob. 6QCh. 12 - Prob. 7QCh. 12 - Prob. 8QCh. 12 - What is the primary difference between the GRI and...Ch. 12 - Prob. 10Q
Ch. 12 - Prob. 11QCh. 12 - Prob. 12QCh. 12 - What industry dominates the list of the worlds...Ch. 12 - Prob. 14QCh. 12 - Nestl is the worlds largest food producer and is...Ch. 12 - Prob. 5EPCh. 12 - Garner Pharmaceuticals is a U.S. drug company that...Ch. 12 - Clarion Bank and Trust (CBT) is a local bank based...Ch. 12 - Prob. 8EPCh. 12 - Carbon accounting standards allow companies to use...
Knowledge Booster
Similar questions
- Why were several original standards issued by the IASC revised in 1993?arrow_forwardHow do the accounting bodies recommend in relation to the accountant’s work for the assessment and action for climate risks?arrow_forwardWhich of the following best describes the extent to which the SEC requires or permits the use of IFRS by U.S. public companies?a. U.S. public companies are required to use IFRS.b. U.S. public companies may choose between IFRS and U.S. GAAP.c. U.S. public companies may use IFRS, but must also provide a reconciliation to U.S. GAAP.d. U.S. public companies are neither required nor allowed to use IFRS.arrow_forward
- Which is a primary source of the PCAOB independence rules? AICPA Frequently Asked Questions: Nonattest Services. SEC Frequently Asked Questions. AICPA independence rules as of April 16, 2003. International independence standards.arrow_forwardChoose the correct. Which of the following best describes the extent to which the SEC requires or permits the use of IFRS by U.S. public companies?a. U.S. public companies are required to use IFRS.b. U.S. public companies may choose between IFRS and U.S. GAAP.c. U.S. public companies may use IFRS, but must also provide a reconciliation to U.S. GAAP.d. U.S. public companies are neither required nor allowed to use IFRS.arrow_forwardWhich required SEC filing would share the following company information? There were no changes in our internal control over financial reporting during the quarter ended December 31, 2020 that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. Question 36 options: a) Proxy b) 10-K c) 8-Karrow_forward
- Which of the following best describes the extent to which the SEC requires or permits the use of IFRS by U.S. public companies? Multiple Choice U.S. public companies are required to use IFRS. U.S. public companies may use IFRS, but must also provide a reconciliation to U.S. GAAP. U.S. public companies may choose between IFRS and U.S. GAAP. U.S. public companies are neither required nor allowed to use IFRS.arrow_forwardExplain the changes made to Basel regulatory requirements relating to liquidity (NSFR and LCR) following the global financial crisis of 2007-8.arrow_forwardThe International Accounting Standards Board (the IASB or the Board) issued the revised Conceptual Framework for Financial Reporting (the revised Conceptual Framework) on 29 March 2018. The revised version includes comprehensive changes to the previous Conceptual Framework, issued in 1989 and partly revised in 2010. The previous Conceptual Framework (the 2010 Conceptual Framework) was criticised for its lack of clarity, the exclusion of certain important concepts and for being outdated in terms of the IASB’s current thinking. Following the IASB’s agenda consultation in 2011, the Conceptual Framework project was added to the IASB’s work plan in September 2012. Since then, the IASB has issued a discussion paper in July 2013 and an exposure draft in June 2015. In revising the Conceptual Framework, the Board was looking to underpin high level concepts with sufficient detail for it to set standards and to help others to better understand and interpret the standards. a. Evaluate the IASB’s…arrow_forward
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