Convergence of us gaap and ifrs

Reference no: EM13129926

Once the convergence of US GAAP and IFRS has been completed, should US companies restatement their financials for a better comparsion for prior years? Why/why not?

Reference no: EM13129926

Questions Cloud

Illustrate what amount should clay report as capitalized : the total amount of interest incurred by Clay during Year 8 was $102,000. Illustrate what amount should Clay report as capitalized interest at December 31, Year 8?

True regarding nicotine-sexual discrimination and addiction : True regarding nicotine usage and True concerning sexual discrimination and True concerning the dynamics of sexual discrimination.

What are the steps taken in the evolution of an fasb : To ensure achievement of these goals, what are the steps taken in the evolution of an FASB Statement of Financial Accounting Standards.

Assessing cash flows for present value : What is the present value of the cash flows? (Do not round intermediate calculations and round your final answer to 2 decimal places.

Convergence of us gaap and ifrs : Once the convergence of US GAAP and IFRS has been completed, should US companies restatement their financials for a better comparsion for prior years? Why/why not?

What percent of ball bearings on line will have diameter : The standard deviation, over a long period of time, was computed to be 0.150 mm. What percent of the ball bearings on this line will have diameters of 20.27 mm or more?

Explain how is the functional currency determined under ifrs : What does th e term functional currency mean? Explain how is the functional currency determined under IFRS and under US GAAP?

Estimating breakdown of costs : Develop a model to represent the total profit for selling x necklaces. How many necklaces will the student have to sell to break-even?

What is the third characteristic : Recognized gains and losses must be properly classified. Proper classification depends on three characteristics, including the tax status of the property and the holding period of the property. What is the third characteristic?

User Account

All Pages