Financial Accounting
Financial Accounting
15th Edition
ISBN: 9781337272124
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Chapter MJ, Problem 4DQ
To determine

Compare the use of term ‘provision’ used in GAAP and in IFRS.

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