Which body is primarily responsible for the establishment of GAAP in the United States? What body serves this function on an international basis?

Q: What would happen if both GAAP and IFRS adopted fiar value accounting? Consider both consoldiation…

A: GAAP GAAP, or usually Accepted Accounting Principles, could be a commonly recognized set of rules…

Q: U.S. GAAP accounting different from

A: International Financial reporting standards: IFRS can be defined as set of accounting standards used…

Q: International fi nancial reporting standards are currently developed by which entity? C . Th e…

A: International Financail Reporting standards, Most commonly Known As IFRS. are group of…

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: What is the intention of the Financial Market Authority creating Memorandum of Understanding…

A: Memorandum of Understanding (MOU) A memorandum of understanding (MOU) is a document that defines the…

Q: Should the United States also adopt IFRS?

A: International financial reporting framework (IFRS): International financial reporting framework is…

Q: Who are the members of International Integrated Reporting Council (IIRC)??

A: International Integrated Reporting Council (IIRC): The International Integrated Reporting Council,…

Q: Explain whether or not the adoption of IFRS by different countries will result in the adoption of…

A: IFRS :       It stands for International Financial Reporting Standards, as the name suggests they…

Q: What is the relation of harmonization in international accounting

A: In accounting each country follows different types of accounting practices and standards.…

Q: What statutes does the Commerce Commission have oversight of?

A: In the year 1986, a commission known as commerce commission was established with an aim to regulates…

Q: What organizations are the two key international players in the development of international…

A: Accounting Standards:   Accounting standards are set for the purpose of financial reporting. The…

Q: What is the implication of AMLA in the international business?

A: The Anti-Money Laundering Act or the AMLA is a regulatory act that is implemented by the authorities…

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: Exercise 2: Draw up a flexible budget for overhead expenses on the basis of the following data and…

A: Budget means the expected value of future. Budget is not affected by the actual value as it is…

Q: Who are the domestic stakeholders in Mexico?

A: Domestic stakeholders in Mexico are people or organisations that have a stake in the nation's future…

Q: hich

A: GDPA is the highest regulatory standard which regulating how companies of Europe and US are…

Q: The major key players on the international side are the: a.    IASB and FASB. b.    IOSCO and the…

A: Accounting exchanges are those exchanges that legitimately influence the financial statements of a…

Q: hat are the requirements for government- wide statements on CAFR?

A: Step 1 Governmental financial statements are comply with governmental accounting standards and…

Q: How do differences in accounting standards and regulations across countries pose challenges for the…

A: Differences in accounting standards and regulations across countries can significantly impede the…