What is the intent of FASB Statement 13 and ASU 2016-02?

Q: oumalize all necessary entries for 2019 and 2020 for CBD Co from the following

A: As per IRS rules if a corporation's estimated tax for the year is $…

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: 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: ACFR 2021- What types of information are included in the Statistical Section?

A: The statistical section generally contain five sections

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: What are management’s responsibilities under Sections 302 and 404?

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: what was austal limited 2019 assest

A: Austal limited is a company involved in business of shipbuilding.

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: What exactly are Institutional Review Boards (IRBs)?

A: This question explains about Institutional Review Boards (IRBs):

Q: Discuss the General overview of IFMIS

A: The IFMIS usually sets up a centralized system to support various management processes.

Q: When should a company begin gathering information about differences between IFRS and its existing…

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

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: Describe the mission of the FASB.

A: Financial Accounting Standards Board (FASB): FASB is an independent 7 member board, of accounting…

Q: Which basis of measurement is allowed in standard IFRS16?

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

Q: The FASB’s conceptual framework sets forth the Board’s views on which topics?

A: This is the organization that creates, develops, and approves accounting standards; and…

Q: What is the standard-setting body responsible for determining IFRS? How does it obtain its funding?

A: The International Accounting Standards Board (IASB) is responsible for determining IFRS. The…

Q: Describe the FASB–IASB convergence process and SEC recognition of IFRS.

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

Q: what is the CIP as of 2021?

A: CIP means Construction in Progress . Under CIP general ledger, the cost of assets and expenses…

Q: The FHA implements its programs with which of the following procedures?

A: FHA has been successful in stabilizing the national housing market. It was created under the federal…

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: Describe the mission of the IASB.

A: The International Accounting Standards Board (IASB) is an independent, private-sector body that…

Q: statements related to the NYSE is correct

A: NYSE is the New York Stock Exchange.

Q: Make a list and indicate the titles and descriptions of the current IASs and IFRSs .

A: List of International Financial Reporting Standards (IFRS) IAS 1 Presentation of Financial…

Q: In addition to EPS numbers themselves, what additional disclosures should be provided concerning the…

A: Earning per share (EPS) refers to the measure of earnings that are available to each share in a…

Q: Discuss the objectives of segmental information and the requirements for the disclosure of segmental…

A: Segmental information is the way of providing the overall information about the functioning and…

Q: What did the FASB and IASB agree to do in the Norwalk Agreement?

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

Q: What is TDS on commission, what is stated under section 194 H?

A: The income statement of the company will be prepared, and maintained by the management which will…

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: What is the chronological order in the evaluation of a typical standard? A. Discussion paper,…

A: Following is the chronological order in the evaluation of a typical standard: The Board issues an…

Q: GENERAL PROVISIONS, BASIC STANDARDS AND POLICIES IMPORTANCE AND SUMMARY AS A WHOLE

A: General Provisions General provisions are balance sheet items representing funds set aside by an…

Q: For what purpose Form 2553 is required?

A: Form 2553   By completing IRS Form 2553, Election by a Small Business Corporation, businesses…

Q: The NEC is published by whom?

A: The question is based on the concept of accounting theory.

Q: How is the date of transition and the date of reporting determined in first-time adoption of IFRS?

A: Date of transition is the beginning of the earliest period for which an entity presents full…

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: What's the working for the first section $49,900?

A: A pension plan is usually an agreement between the employer and employee wherein, the employer…

Q: What is significant influence as defined by IAS 28 and give four examples of how significant…

A: Significant influence seems to be the ability to engage in an entity's operational and financial…

Q: hat are the requirements for government- wide statements on CAFR?

A: Step 1 Governmental financial statements are comply with governmental accounting standards and…

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,…