How shall an entity subsequently measure financial liabilities?  Is IFRS measurement of financial liabilities similar to that of U.S. GAAP? Also briefly describe the requirements regarding an option to designate a financial liability at fair value through profit and loss. Q: Does U.S. GAAP allow fair value option for financial assets and liabilities? Q; What is “own credit” issue related to financial liabilities measured at fair value through profit and loss? Q: How does IFRS 9 address this “own credit” issue?

Q: What is National Savings Certificate? A. Short-term U.S. government debt obligation B. A fixed-…

A: The correct answer is B. A fixed-income investment scheme:One such investment product that the…

Q: definition and recognition criteria of liabilities

A: Liability is the obligation to be repaid or loss to be met in future.

Q: What is the requirement on Federal Truth-in-Lending (FTL)?

A: Following are the requirements of Federal Truth-in-Lending (FTL):   The financial data: The plan of…

Q: a. Capital Adequacy is at the heart of BASEL II & II accords and Tier 1 & Tier 2 capital plays a…

A: Capital adequacy ratio is defined as the measurement of an availability of capital of the banks,…

Q: Which of the following statements is true?(a) The fair value option requires that some types of…

A: Answer:   Option c.

Q: How can we summarize the firm's ability to meet debt repayment obligations?

A: Debt repayment obligations: It means the repayment obligation for the debt held by the corporation.…

Q: Discuss the primary differences between U.S. GAAP and IFRS with respect to investments.

A: GAAP: It is the standard guidelines that are commonly used for financial reporting. These guidelines…

Q: EasyWriter manufactures an erasable ballpoint pen, which sells for $1.75 per unit. Management…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Discuss the primary differences between U.S. GAAP and IFRS with respect to current liabilities and…

A: Generally Accepted Accounting Principles (GAAP): Generally Accepted Accounting Principles are the…

Q: 10) Some contingencies/provisions are recorded, some are disclosed and some are not addressed in the…

A: This question focuses on identifying the treatment variations between US GAAP and IFRS and how…

Q: Discuss the concept of accounting for financial instruments, including the classification and…

A: A financial instrument is basically a contract between two entities which gives rise to asset for…

Q: Which of the following way to classify and measure financial instruments do you favor?  Justify your…

A: IFRS 9.

Q: The federal government is required to recognize liabilities from nonexchange transactions     When…

A: Liabilities refer to the obligations that are required to fulfilled in the future by the business.

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: In relation to investments and fair value, what are the two categories of investments that companies…

A: Investment: It refers to the process of using the currently held excess cash to earn profitable…

Q: Explain the ‘qualifying asset’ and how do we treat exchange rate differences relating to the…

A: A qualifying asset is an asset that necessarily takes a substantial period of time to get ready for…