What are the scopes of the IPSASs?

Q: Why is the concept of independence such an internal part of AICPA Code?

A: AICPA is American Institute of Certified Public Accountants, which is the leading organisation and…

Q: Discuss briefly the definitions,objective and scope of all IAS and the IFRS standards

A:

Q: What are the objectives and scope of all the standards of IFRS and IAS?

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

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

A: International Financial Reporting Standards:   IFRS (International Financial Reporting Standards) is…

Q: Describe the purpose of the AICPA. What is the AICPA’s primary function?

A: The American Institute of CPA (AICPA) is a non-profit organization of Certified Public Accountants…

Q: which MACRS convention is generally applicable to PP&E (equipment), and what other two MACRS…

A: MACRS stands for modified accelerated cost recovery system. It is the current system allowed in the…

Q: What is the IPSASB and reason(s) it was established?

A: IPSASB : INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS BOARD (IPSASB). It plays a significant…

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 are some of the differences in elements in the IASB and FASB conceptual frameworks?

A: Financial accounting standards board (FASB): This is the organization which creates, develops, and…

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 is the main objective of IASB?

A: IASB: International Accounting Standards Board is abbreviated as IASB.  IASB is the organization…

Q: How are IFRS and the codification related? Do you feel that IFRS adoption could happen without…

A: The question is related to International Financial Reporting Standards (IFRS) and Codification. The…

Q: List all the IAS and IFRS Standards, discuss briefly their definitions, thier objective and their…

A: The Accounting standards are the set of principles and procedures to be compulsorily adopted by the…

Q: Are the differences between IFRS and U.S. GAAP significant? Explain

A: IFRS:-These are the International Financial Reporting Standards which followed by the companies,…

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: Explain the differences between IFRS and GAAP

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

Q: IPSASB What are the scopes of the IPSASs? What are the similarities and differences (if any) between…

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

Q: What are circumstance-imposed scope limitation and client-imposed scope limitation?

A: Accounting:   Accounting is a system, or a process of collecting and organizing economic…

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: Which organization initiated the convergence process between GAAP and IFRS and why?

A: GAAP -: GAAP is a mixture of definitive standards (established by policy boards) and the normally…

Q: Mention and describe some FASB concepts, principles, standards, and rules and how they differ from…

A: Given: The concept of FASB and their differences.

Q: IPSASB

A: What is IPSAB REASON IT WAS ESTABLISHED WHAT OBJECTIVE OF THE IPSASB WHY THE IPSASB DEVELOPED THE…

Q: Which method(s) are required for external reporting? For internal reporting?

A:

Q: Why the IPSASB developed the IPSASs?

A: SOLUTION- IPSAB = INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS BOARD WORKS TO IMPROVE PUBLIC…

Q: What is the importance of a Form 8-K? What is the importance of a proxy statement?

A: Importance of a Form 8-K:   Form 8-K is issued by a company when there is something unique or…

Q: developed the IPSASs? d.What are the scopes of the IP

A: International Public Sector Accounting Standards (IPSAS) are a collection of accounting standards…

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 standards govern Review engagements?

A: Audit means independent examination of books of accounts or financial information  so so as to…

Q: What is covered by Regulation S–X?

A: Regulation S-X is a U.S. Securities and Exchange Commission rule that covers annual reports from…

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

A:

Q: What are the overall IFRS and IAS standards' aims and scope?

A: This question tells about the overall IFRS and IAS standards' aims and scope:

Q: What are the different comparison standards that can be used by the entities?

A: Net profit analysis .. Significant ratios and trends with the competitor and previous year…

Q: What is covered by Regulation S–K?

A: Securities and Exchange Commission (SEC):   The board which set rules for the companies for…

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: Explain the concepts and principles which underlie the SMEs standard

A: The concept and principle of sme standard are as follows

Q: What indexes does Target use to measure the LIFO provision?

A: Inventory:   Inventory for a business refers to stock in hand, work in process, raw materials,…

Q: Has the IASB-FASB convergence process been successful?

A: Financial accounting standards board (FASB): This is the organization which creates, develops, and…