How do the non-GAAP measures differ from related official GAAP measures?

Q: How is a financial statement under IFRS different from

A: Solution- In IFRS you need to provide Other Comprehensive Income Statement also in addition to…

Q: What disclosure is made if a loss contingency is reasonably possible?

A: Contingent Liability: Contingent liability is one form of liability that arises based on a…

Q: Are there circumstances in which the cost method is required under U.S. GAAP but not under IFRS?…

A: IFRS: International Financial Reporting Standard is abbreviated as IFRS. The IFRS is set up to bring…

Q: Describe several tariff and nontariff barriers to trade

A: What are tariff barriers  These are government induced barriers on international trade. These…

Q: Why should granted emission allowance be measured at fair value?

A: The emission allowance is a special type of allowance that companies get from the government.  This…

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: Explain the Treatment of Priority and “Unusual “Cross Border Claims.

A: Cross-border claims are disputes between two or more parties located in different jurisdictions.…

Q: What qualitative and quantitative disclosures arerequired related to revenue recognition?

A: Revenue recognition is a generally accepted accounting principle (GAAP) that identifies the specific…

Q: What is the guiding objective is that lessees and lessors provide disclosures?

A: Lease: Lease is a contractual agreement whereby the right to use an asset for a particular period of…

Q: Based on Appendix 12B) How does IFRS differ from current U.S. GAAP in accounting for…

A: When the asset value reduces due to market or technological factors which it turn fall below its…

Q: What is the difference in program revenues and general revenues? Why is that distinction important?

A: Program revenues refer to the revenues that are attributable directly to a specific functional…

Q: What are the general jurisdictional rules? Discuss some of the exceptions to these rules.

A: Jurisdiction Rules Jurisdiction in the law which implies that the right of the court to hear the…

Q: What are the quantitative disclosures that must be done by lessor?

A:

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: What is Umbrella Excess Liability?

A: Umbrella Excess Liability policy refers to a liability insurance policy that safeguards the assets…

Q: What does an acknowledgment certify?

A: An acknowledgment is a formal declaration made by an individual to verify the genuineness and…

Q: Why GAAP requires the allowance method

A: while accounting the uncollectible accounts  in the books of accounts GAAP requires the allowance…

Q: What are three difference between IFRS and U.S. GAAP with respect to the measurement of financial…

A: Three differences between IFRS and US GAAP with respect to the measurement of financial statement…

Q: Explain and analyze the effect of differences between IFRS and U.S. GAAP related to the financial…

A: In the United States, financial reporting practices are prescribed by Financial Accounting Standards…

Q: How do the passive losses rules and the at risk rules work in conjunction to limit losses?

A: Passive losses: These are the losses that take place when expenses exceed the income in the passive…