In general terms, how does IFRS for SMEs differ from full IFRS?

Q: What is the difference between ER and REA model

A: ER model stands for Entity Relationship model which is a high-level data model. This model defines…

Q: Provide examples of how finacial statments are useful and or how they are used?

A: Financial statements refer to such statements which report the profitability and the financial…

Q: Why are CMOs overcollateralized?

A: CMO is the abbreviation used for collateralized mortgage obligation. It uses collaterals which are…

Q: What are the similarities between MRP and DRP?

A: Material Requirement Planning and Distribution Requirement Planning are the essential components…

Q: What are the differences between MIRR method and IRR method?

A: The question is related to MIRR and IRR.

Q: Why does the FASB recommend the direct method over the indirect method?

A: Definition:   Financial accounting standards board (FASB): This is the organization that creates,…

Q: Explain all differences between GAAP and IFRS

A: Generally accepted accounting principle (GAAP) It is the common set of procedures, principles, and…

Q: What are the major differences between the IFRS conceptual framework and the FASB conceptual…

A: ANSWER     The components of the conceptual framework for ­financial reporting include recognition…

Q: What standards govern SSARS engagements?

A: American Institute of Certified Public Accountants (AICPA):   It is an association of certified…

Q: What approaches may be employed in applying the LCNRVprocedure? Which approach is normally used and…

A: Lower-of-cost-or-net realizable value: The lower-of-cost-or-net realizable value (LCNRV) is a method…

Q: Explain NAREIT Index?

A: NAREIT Index Rate: It implies the compound dividend yield which is communicated as far as a yearly…

Q: What are the IFRS and IAS standards trying to accomplish, and how broad is their scope?

A: In the era of globalization, businesses around the world work together. Investors have more…

Q: When is independence impaired under PCAOB standards?

A: Independence would be considered to be impaired if a covered member accepts more than a token gift…

Q: ) What deficiencies in IRR can be overcome by using MIRR?

A: Introduction : Internal rate of return, commonly referred to as the IRR, can be understood as the…

Q: Should VAS be completely replaced by IFRS? Why/ Why not?

A: IFRS stands for International Financial Standards where as VAS stands for Vietnamese Accounting…

Q: Explain the purpose of IFRS for SMEs and how it differs from full IFRS.

A: IFRS or International Financial Reporting Standards are the guidelines of accounting given by the…

Q: What are the similarities and differences (if any) between the IPSASs and the IASs/IFRSs?

A: The international public sector accounting standard board (IPSASB) seems to be an unbiased…

Q: What are the functions of the PCAOB?

A: Introduction PCAOB stands for Public Company Accounting Oversight Board. This is a private…

Q: How can sensitivity analysis be incorporated in DCF analysis?

A:

Q: What are ESOPs? What are some of their advantages anddisadvantages?

A: ESOP: Employee stock ownership plan is retirement plans for employees of the company wherein the…

Q: Explain the differences between IFRS and GAAP

A: GAAP is a common set of accepted accounting principles, standards, and procedures that companies and…

Q: Does the IRR analysis yield the results consistent with PW and other equivalence methods?

A: Yes, the IRR analysis gives the results consistent with PW analysis and Equivalence methods.

Q: What is GAAP and why it is needed?

A: GAAP - Generally Accepted Accounting Principles

Q: What is the difference between the Codification and the Codification Research System?

A: FASB: The FASB is an independent, designated and non-profit organization established by SEC for…

Q: What are the differences between GAAP and IFRS?

A: The companies are required to follow a set of guidelines and rules in the presentation of financial…

Q: Explain the limitations of CAPM.

A: A mathematical model that describes the link between a security's expected return and risk is…

Q: What are the CVP assumptions?

A:

Q: What is multiple discriminant analysis?

A: Multiple discriminant analysis (MDA) is a statistical method used by many financial planners to…

Q: Identify some potential problems with the CAPM.

A: The CAPM is a model that depicts the connection between the expected return and risk of putting…

Q: What is the difference between the CML and the SML?

A: The term CML refers to capital market line. Whereas the term SML refers to security market line.

Q: What is the primary difference between the APT and the CAPM?

A: APT is an abbreviation used for arbitrage Pricing Theory whereas CAPM is an acronyms used for…

Q: What is the decision rule for IRR?

A:

Q: What are representative strengths of NPO?

A: Non Profit Organisations (NPO) are expected to be driven by a need to fulfill a social purpose…

Q: What is an XBRL taxonomy?

A:

Q: What are the common benefits of GSIS and SSS?

A: GSIS is termed as a "government service insurance system" and it provides coverage of insurance to…

Q: Difference Between Traceability and Controllability? Explain briefly in points.

A: Traceability and controllability are two concepts used in cost accounting. These are the forms of…

Q: What is the difference between FMS - CMS?

A: The differences between dedicated flexible manufacturing system and random-order flexible…

Q: Is there are any relation between the CFPS, EPS, and DPS?

A: The financial statements of a firm is used and analysed by determining various types of financial…

Q: What are the scopes of the IPSASs?

A: INTRODUCTION TO IPSASs :  International Public Sector Accounting Standards Board (IPSASB) has…

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.