Distinguish between the Customs Act, Customs Tariff Act, an EIPA Further, what is the purpose of the CCI, CCD, forms?

Q: Describe several tariff and nontariff barriers to trade

A: What are tariff barriers  These are government induced barriers on international trade. These…

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: 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: (c) Show clearly how the trade payables should be recognised initially and how the subsequent…

A: Entity 2 purchased a specialist machine from a US Supplier on 1st Jan 2021. The price of the machine…

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: 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: Hedging a foreign

A: A record may be a budget that reports a company's assets, liabilities, and stockholder equity. The…

Q: Briefly describe how IFRS guidelines for recognizing revenue from multiple-deliverable arrangements…

A: Definition: Revenue recognition principle: Revenue recognition principle emphasizes, that the…

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: ill of exchange important? Why

A: Bill of exchange is some sort of promise to other that he will pay the given amount on a given date…

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: 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: (Based on Appendix 9) Define purchase commitments. What is the advantage(s) of these agreements to…

A:

Q: Differentiate between spot and forward exchange rates

A: Introduction: The spot rate is the rate at which the actual deal or sale is to take place…

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: Give a detailed answer to the theoretical question Display graphically and explain the mechanism of…

A: Bills of exchange indicate a written agreement stating the obligation of one party to pay the due…

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: 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: ment-mandated non-exchange transactions.

A: Given: To explain the correct option as,

Q: Make an acronym or a mnemonic on the new revenue recognition standards and make a comparison with…

A: Revenue recognition is a generally accepted accounting principles, that identifies…

Q: Discuss the sanctions associated with issue of dud cheques

A: Dud cheque is the cheque which is worth nothing because the person who wrote the cheque it does not…

Q: Discuss the features that differetiateorganised exchanges from the over-the-counter market

A: the question is based on the concept of stock exchange trading mechanism and over the counter…

Q: Define Securities and Exchange Commission (SEC)

A: The SEC was established in 1934 by the reference of The securities exchange act,1934 in response to…

Q: Define trade credit

A: Trade refers to the buying and selling of the goods and services. Trade can be between business to…

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: 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: 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: Briefly describe the concepts of; Letter of credit, trade deficit, negotiable instrument and credit.

A: Letter of credit is a financial instrument that is used as a mode of payment specifically for…

Q: ASPE and IFRS.

A: Introduction: Revenue recognition: Revenue recognition is an accounting theory that defines the…

Q: Explain the meaning of a "trade balance"

A: Answer: Trade Balance is basically the difference between the country's imports and exports. It is…

Q: difference between Trade Payable and Other Payable with relevant examples

A: Trade Payable and Other Payable are current liabilities of a business to be payable within one…

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…