Which basis of measurement is allowed in standard IFRS16?

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

A: FASB 32 is a statement establishing the guidelines and procedures for reporting leases by lessors…

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: 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: Which of the following is not a required fi nancial statement according to IAS No. 1? A . Statement…

A: IAS 1 deals with the presentation of FS (financial statements). This standard explains all the rules…

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: xplain the general similarities AND differences between GAAP and IFRS.

A: Discussion of general similarity and difference between GAAP and IFRS are as follows

Q: List all the IAS and IFRS Standards and state thier objectives

A: The accounting standards of IAS are as follows:

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: State the key differences between IFRS and U.S. GAAP.

A: IFRS stands for International Financial Reporting Standards. These are accounting standards issued…

Q: What are the elements of control identified by IFRS 10? Illustrating the point using examples. a.

A: IFRS 10 is about Consolidated Financial Statements. It outlines the requirements for the preparation…

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: 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: 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: Which of the following is not a related party as envisaged by PAS24?

A: The related party is the individual or entity that is related to the company. The individual or…

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: hat are the Sarbanes-Oxley Act and GAAP?

A: In order to reduce the fraud in corporations while recording financial transitions or preparing…

Q: statements related to the NYSE is correct

A: NYSE is the New York Stock Exchange.

Q: Identify the differences of Full PFRS from SMEs PFRS. Explain

A: Financial Reporting Standard can be defined as the standards being incorporated by the business…

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

A:

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: What are the rules for SSARS engagements in terms of standards

A: It tells about the rules for SSARS engagements in terms of standards:

Q: Which organization is responsible for promulgating U.S.​ GAAP?

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

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: Which of the following is not a constraint on the fi nancial statements according to the Conceptual…

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: For what purpose Form 2553 is required?

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

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: Differentiate between IFRS vs. U.S. GAAP.

A: International Financial Reporting Standards (IFRS): IFRS are a set of international accounting…

Q: What documents constitute the AP packet? Whatevidence does each document provide?

A: An organization should record a liability in its books of accounts based on the invoice amount after…

Q: Evaluate two (2) major differences between GAAP and IFRS with respect to the statement of

A: The cash flow statement, also known as the statement of cash flows, is a financial statement that…

Q: Explain the measurement attributes employed in GAAP.

A: The measurement attributes employed in GAAP are as follows: Historical Cost Net Realisable Value…

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: 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: What are the scopes of the IPSASs?

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

Procedural Coding: CPT and HCPCS

Computer hardware and accessories nowadays support various types of coding for a variety of purposes. Procedural coding is a straightforward process that combines several steps of a calculative sequence to achieve the desired result. It is a type of medical classification that aids in the identification of specific surgical, medical, or diagnostic procedures. It begins as soon as a patient enters the premises of a healthcare provider. These coding systems have significantly aided the process of insurance claims and billing.