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A number of IASB standards are particularly relevant to financial stability, for example IAS39 financial instruments. As part of IASB’s responses to the GFC, the IASB amended IAS39 during the crisis to allow for reclassification of financial instruments. Identify and analyse what are the potential problems associated with this accounting standard, the IASB’s actions to improve this standard?
A $120,000 write-off of obsolete inventory.? In its 2012 income statement, what amount should James report as total infrequent losses that are not considered extraordinary?
a. What activities are included in the statement of cash flows under the section entitled "Cash flows from financing activities"? What is the difference between U.S. GAAP and IFRS with regard to the correction of accounting errors?
Make a Flexible Budgeted Income Statement using Variable costing and Budgeted Income Statement and Flexible Budgeted Income Statement Variable Costing , Variance Analysis
Prepare the journal entry to record the acquisition of the assets.
Illustrate what is the suggested share price? if the dividends are suspended for 2 years and then continue as before, will the preferred share price rise or fall?
Suppose Green has been using the straight-line method and switches to the sum-of-the-years'-digits method. Ignoring income taxes, what journal entry(s) should Dolley record relating to the machine for 2011?
Is the assets are treated as if they had been purchased outright. Is this policy companies using U.S. GAAP follow in accounting for capital leases? Explain
Evaluate the accounting principles (GAAP) the foreign and domestic companies use to prepare financial statements and List 5 format differences in companies' income statements.
What role does the Internal revenue service paly in interpreting and providing guidance on, the tax law? What types of tax guidance are published by the IRS
Evaluation of unit costs for materials and conversion costs based on equivalent units of production given production costs at beginning, for processing and at ending work-in-process stages
Explain whether you prefer the IFRS or GAAP approach taxes and state why. Discuss how the differences in the two approaches (IFRS and GAAP) might be resolved in the convergence process.
The Taxpayer Compliance Measurement Program has been controversial. Illustrate what public service do you think it provides? Should it be discontinued or changed in any way? If yes, in what ways and why? If not, why not?
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