Give and discuss at least 3 principles of international law.

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

A:

Q: Answer the below questions using the FASB Codification. Make sure that you properly cite the ASC…

A: According to ASC 410-20-25-1, an Asset Retirement Obligation (ARO) is a legal obligation associated…

Q: Which of the following statements is true? a. Both the SEC and the PCAOB require the use of the COSO…

A: Committee of Sponsoring Organization (COSO):  Committee of Sponsoring Organizations (COSO) is a…

Q: How do I conclude a legal memorandum

A: Legal memorandum:   A legal memorandum in simple words refers to a formal, polished and a…

Q: e ATO’s ‘Test Case Litigation Program

A: Tax litigation:Tax litigation can be defined as the process settling tax issues, conflicts and…

Q: Discuss a case law to explain the above answer

A: Based on the information provided, it is likely that the gains made by Mr. Peter on the sale of the…

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

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

Q: Briefly discuss the main provisions of the SOX, and then explain Section 404 in detail.

A: SOX stands for Sarbanes-Oxley Act and it established protocols related to the assessment of internal…

Q: Which groups are covered under the three sections of the International Ethical Standards?

A: IES are the standards which are issued by the Internation Ethics Standard Board For Accountants…

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: What is the goal of codification

A: Codification refers to the process of organizing and consolidating laws, rules, or standards into a…

Q: What are the different ways a country might use IFRS?

A: International Financial Reporting Standards refers to the accounting standards which is issued by…

Q: In the United States, GAAP comes under the purview of the

A: In United states, GAAP comes under the purview of the Financial Accounting Standards Board (FASB).

Q: fundamental principles outlined by MIA Bye-laws’ Part A.

A: Malaysian Institute of Accountants (MIA) Bye-laws were issued by the Council Of The Institute and…

Q: What is FASB ASC Topic 842 about?

A: FASB ASC is the authoritative source of U.S. Generally Accepted Accounting Principles (GAAP)…

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: Describe the support for, and the use of:  IFRS accross countries  GAAP accross countries

A: International Financial Reporting Standards (IFRS) are a set of accounting standards that govern by…

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

A: IFRS (International financial reporting standard): These are the set of guidelines and rules which…

Q: Choose three out of six differences on page 55, (attached) and, for each of these three differences,…

A: US GAAP is preferred over IFRS due to the following reasons of difference:Shipping and handling…

Q: What Is Section 1031? A brief explanation on this?

A: Answer : Section 1031 Provision of Internal Revenue Code Allows the Owners of Investment Property…

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

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