Concept Introduction:
International financial reporting framework (IFRS):
International
United States generally accepted Accounting Policies (US GAAP):
United States generally Accepted Accounting Policies is the accounting framework/ accounting standards followed in the United States to prepare the financial statements. US GAAPS are issued by Financial Accounting Standards Board (FASB).
Requirement-a:
To Indicate:
Correct Matches for the given like terms under IFRS and US GAAP
Concept Introduction:
International financial reporting framework (IFRS):
International financial reporting framework is the accounting framework/ accounting standards followed internationally to prepare the financial statements. IFRS are issued by the International Accounting Standards Board (IASB). IFRS fulfill the objective of common accounting standards worldwide.
United States generally accepted Accounting Policies (US GAAP):
United States generally Accepted Accounting Policies is the accounting framework/ accounting standards followed in the United States to prepare the financial statements. US GAAPS are issued by Financial Accounting Standards Board (FASB).
Requirement-b:
To prepare:
The
Concept Introduction:
International financial reporting framework (IFRS):
International financial reporting framework is the accounting framework/ accounting standards followed internationally to prepare the financial statements. IFRS are issued by the International Accounting Standards Board (IASB). IFRS fulfill the objective of common accounting standards worldwide.
United States generally accepted Accounting Policies (US GAAP):
United States generally Accepted Accounting Policies is the accounting framework/ accounting standards followed in the United States to prepare the financial statements. US GAAPS are issued by Financial Accounting Standards Board (FASB).
Requirement-c:
To Calculate:
The dividend for the year 2016
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Chapter F Solutions
FUNDAMENTAL ACCOUNTING PRINCIPLES
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