he following are based on FASB Codification.  #1. Describe the accounting for refund liabilities.

Q: Describe the accounting for refund liabilities.

A: Liabilities:   The liabilities are the amount of money which a business has to pay to the outside…

Q: Define the ECL model for accounts receivable. How does it differ from the CECL model?

A: Accounts receivable (AR) is the amount of cash yet to be received by a firm for products or services…

Q: Differentiate between Current liabilities, Non-Current Liabilities and Provisions. Provide an…

A: The liabilities are the amount payable by the business to the outsiders or creditors.

Q: Most agreements involving factoring of accounts receivable are made on a. O a. notification O b.…

A: Factoring, often referred to as accounts receivable financing, is a financial transaction in which a…

Q: Explain the measurement principles for provisions in IAS No: 37, for " Provisions, Contingent…

A:

Q: financial plan which serves as a framework of accounts A. Appropriation act B. Budget C.…

A: Introduction:- A financial plan is the heart of any business. It gives clear financial picture of…

Q: describe general principles of revenue recognition and accrual accounting, specifi c revenue…

A: According to IFRS, a company should recognize revenue from the sale of goods whenever the following…

Q: Explain the components of balance of Payments Accounts and describe the  impact of deficit and…

A: The balance of payments (BOP), sometimes known as the balance of international payments (BIP), is a…

Q: Can you please describe contingent liabilities and how to account for and/or report

A: Contingent liabilities are defined as liabilities that occur in the future. These liabilities are…

Q: The alternative treatment in reporting Subscription Receivable is addition to Current Assets…

A: The amount receivable from the subscriptions revenue is termed as "subscription receivable".

Q: what are the legal aspects concerning bill discounting?discuss the decision analysis for factoring…

A: Bill Discounting is a business-related activity in which unpaid bills from a firm that are expected…

Q: definition and the use/s of SWOT Analysis

A: Since you have posted multiple sub-part questions, we will solve the first question for you. To get…

Q: What are the reasons for statutory debt limits and explain the terms debt margin and overlapping…

A: A debt service fund is a type of governmental fund used to account for the payment of principal and…

Q: What is a promissory note, and what terms are normally included in promissorynotes?

A: A document or agreement that promises the payment of a specific sum of money at a later date to the…

Q: Define debt service requirements

A: Debt service requirement is very much essential for a company if it wants to maintain a good credit…

Q: Which of the following is classified as nonmonetary? a. Warranty liability b. Accrued expense c.…

A: The question is multiple choice question Required  Choose the Correct Option.

Q: What are the criteria for determining whether a sale of receivables has occurred?

A: Receivables: Receivables refer to an amount to be received in future. General classifications of…

Q: ASPE and IFRS.

A: Introduction: Revenue recognition: Revenue recognition is an accounting theory that defines the…

Q: The alternative treatment in reporting Subscription Receivable is     a. deduction to Current Assets…

A: Subscription receivable is a revenue receivable that is an asset for the company.