Discuss the primary differences between U.S. GAAP and IFRS with respect to current liabilities and contingencies.

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: Identify any differences between U.S. GAAP and International Financial Reporting Standards in the…

A: Research and development costs:

Q: One measure of "ability to pay" the national debt is the debt to

A: Debt/GDP  Debt to GDP ratio indicates that ability of country to pay national Debts. By comparison…

Q: What is the requirement on Federal Truth-in-Lending (FTL)?

A: Following are the requirements of Federal Truth-in-Lending (FTL):   The financial data: The plan of…

Q: With regard to the correction of accounting errors, what is the difference between U.S. GAAP and…

A: Generally Accepted Accounting Principles:   GAAP (Generally Accepted Accounting Principles) is a…

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

A:

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: Define Temporarily Restricted Contributions based on the U.S. GAAP SFAS.

A: Statements of Financial Reporting Standards were created to address particular accounting concerns…

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

A: IFRS stands for International Financial Reporting Standards. These are accounting standards issued…

Q: Explain the roles of various US government bones and how bond returns are measured. Explain in…

A: These are also known as treasury bonds which pay the fixed interest payment every 6 months until…

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: 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: Which are the Federal and State Securities Authorities?

A: The question is based on the concept of security authorities working in United State. The law of…

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: 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: What financial statements are report

A: The consolidated financial statements of the U.S. government were prepared using GAAP. These…

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: Discuss the primary differences between U.S. GAAP and IFRS with respect to accounting for…

A: Under IFRS, defined benefit plan assets are valued at fair value. Under U.S. GAAP, defined benefit…

Q: Compare the purchase and sale of government securities with the purchase and sale of agency…

A: Government Securities are the securities which are often sold by the government. Purchase and sale…

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: n the United States, the __________, a government agency, has the legal authority to set GAAP.

A: Financial Accounting Standard board (FASB) is a government body established for the purpose of…

Q: Distinguish between the Customs Act, Customs Tariff Act, an EIPA Further, what is the purpose of…

A: Customs Act: Customs Act deals with the administration part of the customs transactions and general…

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: discuss the prospects and consequences of trade protection, citing relevant and recent examplesI)

A: For the purpose of increase and decrease in the trade activities of the country, the implementation…

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

A:

Q: differentiate between the Customs Act, Customs Tariff Act, and EIPA

A: Customs Act: Customs Act deals with the administration part of the customs transactions and general…

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: How do U.S. GAAP and IFRS differ in their use of present values when measuring contingent…

A: Contingent Liability Contingent liability is one form of liability that arises based on a particular…

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: EXPLAIN THE MODE OF PAYMENT IN FOREIGN CONTRACTS.

A: A foreign exchange contract is a legal arrangement in which the parties agree to exchange a defined…

Q: Should the Federal Reserve be subject to having their Balance Sheet audited?

A: The Federal Reserve System as a whole is subjected to several levels of audit review.

Q: What are the differences in accounting for a forward contract used as (a) a cash flow hedge and (b)…

A: a.

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

A: IFRS and GAAP:

Q: What are Statutory Legal Reserve and revenue reserve?

A: A reserve refers to the amount that is put aside by the Company for following purposes that 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: Define Historical exchange rates

A: exchange rates: value of one currency for the purpose of conversion into another currency.

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…