interpret or compare its results from 2018 to 2019

Q: When fair value is used in the measurement of assets in the financial statements, current GAAP…

A: Fair value is used in the measurement of assets in the financial statements, Under current GAAP…

Q: Catégorie each of the following activities into the expenditures, conversion or revenues cycle and…

A: An company's monetary activities are documented, processed, and summarized using a set of procedures…

Q: What is the IFRS adoption in the U.S. ? Please explain?

A: Step 1: Understanding IFRSInternational Financial Reporting Standards (IFRS) are a set of accounting…

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: Explain why reclassification adjustments are necessary.

A:

Q: Discuss the federal government’s contracting programs.

A: Introduction: Contractors are allowed under federal government contracts to set aside certain…

Q: Name three events that might change the balance of the plan assets.

A: Plan assets: Plan assets refers to the assets which are used to satisfy the postretirement…

Q: In what circumstance must entities register for GST in Australia?

A: GST is goods and services tax which is a form of indirect taxes. This is charged on goods and…

Q: Determine when and what types of information must be disclosed for geographic areas.

A: Definition:   Segment reporting: Presenting the financial statements along with the necessary…

Q: When fair value is used in measuring assets in the financial statements, current GAAP provides…

A: (1) Full form of GAAP - Generally Accepted Accounting Principles. (2) It is a collection of the…

Q: hich of the following statement about expected vesting period agrees with IFRS 2?

A:

Q: What minimum information must an enterprise provide in an interim report?

A: The following minimum information enterprise must provide in an interim report: A condensed…

Q: The North American Free Trade Agreement (NATFA, The USMCA entered into force on July 1, 2020,…

A: The US,  Mexico and Canada which is USMCA  this is the new agreement which replace the NAFTA. THIS…

Q: Which type of report would you prepare when engaged to prepare forecasted statements?

A: Forecasted statements refers to the statements or reports that estimate the expected future income…

Q: What factors should be considered in determining the issue price of a debenture ?

A: Debentures are the long term debt issued to pursue a new project. Interest paid in debentures are…

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: Assuming IASB board is considering amendment to the IAS 16: Property, Plant and Equipment, what…

A: The primary objective of IAS 16 is to prescribe the accounting treatment of property plant equipment…

Q: Which is the proper time period to record the effect of a change in accounting estimated? A.…

A: Accounting is the process of work of keeping financial accounts. It is a process of recording…

Q: Define additional funds needed (AFN)

A: AFN or additional funds needed is very much important for the organization because it helps them to…

Q: ________________________ is the financial statement element that captures amounts to be recognized…

A: Financial Statement Items: Financial statements are written documents that represent a company's…

Q: O IAS 40 INVESTMENT PROPERTY SHOULD BE TAKEN UP IN SOPL OR OCI

A: Step 1 As per the provisions of IAS 40, investment property is means land or building or both which…

Q: The margin requirement is set by the ________. Select one: a. Federal Reserve b. SEC c. FDIC d. SIPC…

A: Margin requirement is an important concept in the world of investing and finance. It refers to the…

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: Evaluate the recoverability test used in U.S. GAAP.

A: Recoverability test is used for determining and accounting for impairments in the value of fixed…

Q: what us the 2021 general entry?

A: An employer agrees to provide employees with a predetermined amount of retirement benefits upon…

Q: What types of proposals might a reorganization plan include?

A: 1) Changes in the company's operations as a proposed plan: New product lines introduced,…

Q: Define semiannual compounding

A: Compounding is the interest charged on interest. When any investment is made for certain years, the…

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: Events Affecting the 2018 Accounting Period 1. Acquired $65,000 cash from the issue of common stock.…

A: AE refers to Accounting Equation is considered as the foundation of the accounting system, under…

Q: Discuss the need for reformulating financial statements in preparation for valuation

A: Financial statement analysis gives information about a company's financial situation and…

Q: n the United States, the __________, a government agency, has the legal authority to set GAAP.

A: Financial Accounting Standard board (FASB) is a government body established for the purpose of…

Q: differentiate calculations BETWEEN leasing payment at END-OF-THE YEAR and BEGINNING OF THE YEAR?

A: The lease payment calculations are different for the beginning of the period and end of period…

Q: Briefly explain the purposes of adjustments.

A: Adjustments (Adjusting entries) : These are made to record the business transactions that has been…