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2.75) The financial statement that uses cost accounting is called: - statement of cash flows - statement of retained earnings balance sheet income statement ???

2.75) The financial statement that uses cost accounting is called: - statement of cash flows - statement of retained earnings balance sheet income statement ???

Corporate Financial Accounting
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
ChapterC: International Financial Reporting Standards (ifrs)
Section: Chapter Questions
Problem 6DQ: How is property, plant, and equipment measured on the balance sheet under IFRS? How does this differ...
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2.75 ques

O 2.71) What is covered by PPE under IFRS? IAS 16 is the IFRS Standard that covers PPE. IAS 16 establishes principles for recognis and equipment as assets, measuring their carrying amounts, and measuring the deprec impairment losses to be recognised in relation to them. Property, plant and equipment a that: 1- are held for use in the production or supply of goods or services, for rental to ot administrative purposes; 2- are expected to be used during more than one period. 490 • 2.72) What is not an intangible asset? company - copyrights that are provided - company software - registered patent 2.73) If an intangible asset is revalued, the increase in the value should be credited heading of revaluation reserve, should be recognised as income 2.74) An intangible asset with a finite useful life should be amortised over: - a period determined by management - it is not amortised, but checked for impairment annually not afportised at all ???????????????????? - it is expected useful lifetime 2.75) The financial statement that uses cost accounting is called: - statement of cash flows - statement of retained earnings - balance sheet income statement ??? -direct ???? > 2.76) Which method can be used for determining the financial cash flow: indirect?????? - working capital - cost benefit method - corporate tax 2.77) Which can be considered a product cost in a manufacturing company? - sales commissions - property rate - equipment depreciation
Transcribed Image Text:O 2.71) What is covered by PPE under IFRS? IAS 16 is the IFRS Standard that covers PPE. IAS 16 establishes principles for recognis and equipment as assets, measuring their carrying amounts, and measuring the deprec impairment losses to be recognised in relation to them. Property, plant and equipment a that: 1- are held for use in the production or supply of goods or services, for rental to ot administrative purposes; 2- are expected to be used during more than one period. 490 • 2.72) What is not an intangible asset? company - copyrights that are provided - company software - registered patent 2.73) If an intangible asset is revalued, the increase in the value should be credited heading of revaluation reserve, should be recognised as income 2.74) An intangible asset with a finite useful life should be amortised over: - a period determined by management - it is not amortised, but checked for impairment annually not afportised at all ???????????????????? - it is expected useful lifetime 2.75) The financial statement that uses cost accounting is called: - statement of cash flows - statement of retained earnings - balance sheet income statement ??? -direct ???? > 2.76) Which method can be used for determining the financial cash flow: indirect?????? - working capital - cost benefit method - corporate tax 2.77) Which can be considered a product cost in a manufacturing company? - sales commissions - property rate - equipment depreciation
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