Name and detail 3 types of differences that exist between IFRS and U.S. GAAP.

Q: etail the primary goals of FASB codification,its structure and content.

A: For nonprofit organizations, the FASB Accounting Standards Codification® is the excellent feature of…

Q: Conceptual framework was 1st adopted by IASB, on what particular date?

A: The Conceptual Framework sets out the fundamental concepts for financial reporting that helps to…

Q: Do U.S. GAAP and IFRS (under IAS No. 39) differ in how they account for otherthan- temporary…

A: Generally Accepted Accounting Principles (GAAP): These are the guidelines necessary to create…

Q: section 1231 summary

A: Tax is the liability which has to be paid by the individual and the corporation to the Federal…

Q: Discus basic methods used to settle international transactions.

A: When the goods and services are traded outside the national boundaries it is known as international…

Q: What are the major differences between U.S. GAAP and IFRS 8 with respect to the disclosures that are…

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

Q: IFRS9-1.   Briefly describe some of the similarities and differences between GAAP and IFRS with…

A: Inventory: Inventory refers to the raw materials, work-in progress, and the finished goods products…

Q: the differencwe between the new IFRS 15 and old IFRS 15

A: The acronym IFRS stands for International Financial Reporting Standards that provide the rules,…

Q: Which mutually exclusive project below would you recommend?

A: The internal rate of return (IRR) is the rate of return where Net present value of the project is…

Q: To satisfy geographic area disclosure requirements, what are the minimum and maximum numbers of…

A: Segment Reporting It is the reporting of the operating segment of several business of a company that…

Q: Define R&D according to U.S. GAAP.

A:

Q: Regulation S-K:

A: The Regulation S-K specifies the disclosure to be made by the company related to the periodic…

Q: Two examples of means of internationalisation?

A: Internationalization is described as the method of product designing process through which customer…

Q: Analysing the likely reasons why the USA has not yet fully adopted IFRS

A: International Financial Reporting Standard (IFRS) : Intended to make financial statements of…

Q: Explain how to set the date of the first adoption of IFRS and first reporting date in accordance…

A: The International Financial Reporting Standards (IFRS) were developed to ensure that accounting…

Q: the recognition and measurement  of IFRS 10 and

A: The answer has been mentioned below.

Q: tate two (2) main criticisms against the adoption of IFRSs in some countries.

A: IFRS was established to give a single view to the balance sheet prepared by the companies globally.…

Q: Why were several original standards issued by the IASC revised in 1993?

A: Several original standards issued by the International accounting standard committee (IASC) were…

Q: Find the net exposure of the U.S. MNC with the following intra-affiliate transactions shown. -$20…

A: For calculating net exposure, we need to subtract one position within the hedge fund from another.…

Q: Provide proffesional argument as to why IFRS 16 is preffered for us over IAS 17, and three examples…

A: IFRS 16 and IAS 17 are accounting standards related with leases. On January 2016, IASB issued a…

Q: Purpose of the Codification project.  Name some pros and cond

A: The answer is stated below:

Q: 64. According to the pny In upn should prepare which of the follow statements? Statement of Changes

A: The American Institute of Certified Public Accountants (AICPA) is the United States' primary…

Q: e applicable to the pla

A: A statement showing the item-wise amount of all the money received by an individual from the…

Q: statements related to the NYSE is correct

A: NYSE is the New York Stock Exchange.

Q: a different technologies acturing. Determine the mpanys MARR = 14.5%. B. C 900

A: Given as,

Q: D6) Describe and explain the matters which the remuneration committee should consider when preparing…

A: Remuneration- Remuneration is the whole amount paid to an employee. It may contain a salary or…

Q: difference between IFRS standardization and harmonization

A: Financial Reporting (IFRS) are a set of accounting principles for financial reporting published by…

Q: Define R&D according to U.S. GAAP.Define R&D according to U.S. GAAP.

A: Property, Plant, and Equipment: Property, Plant, and Equipment refers to the fixed assets, having a…

Q: ment-mandated non-exchange transactions.

A: Given: To explain the correct option as,

Q: Where is the reconciliation of Beginning PBO to ending PBO found in the codification (give topic,…

A: Here discuss about the accounting codification related with the accounting standard for the…

Q: What is the difference between the terms of the definition and the terms of recognition in the…

A: The purpose of the conceptual framework is to assist the IASB in preparing and revising the…

Q: g detailed substantive procedures

A: Option a is wrong because search of evidence about the effectiveness of the internal control system…

Q: Why is the FASB Codification Project so important to the U.S. adoption of IFRS? What is the status…

A: IFRS termed as International Financial Reporting Standards which are the accounting standards issued…

Q: In what ways does the IASB differ from the IASC?

A:

Q: list and explain differences and similarities between Us GAAP and IFRS in recording process

A: Accounting is a process of recording financial transactions pertaining to a business.

Q: Explain with relevant examples  1. Primary Apportionment

A: Primary Apportionment is a concept related to the allocation and apportionment of overhead costs to…