Accounting policy , Accounting Standards

Assignment Help:

As of 2005, consolidated financial statements of listed companies in the European Union are required to be prepared in accordance with IFRSs.

Complete the following accounting policy note on the use of IFRSs in the financial statements of a company listed on a stock exchange within the European Union:

"The consolidated financial statements of Company X plc have been prepared in accordance with International Financial Reporting Standards (IFRSs).

International Financial Reporting Standards comprise standards and interpretations approved by the International Accounting Standards Board (IASB)."


Related Discussions:- Accounting policy

Current liabilities, Current Liabilities We have studied about liabili...

Current Liabilities We have studied about liabilities are claims of outsiders against the business. Conversely, these are amounts owed through the business to people who have

Issue of shares, What take place in a rights issue of shares? 1. Any pre...

What take place in a rights issue of shares? 1. Any premium on issue is added to a capital reserve. 2. Any type of premium on the issue is added to a revenue reserve. 3. A

Changing nature of generally accepted accounting principles, GAAP are usual...

GAAP are usually developed through professional accounting bodies as American Institute of Certified Public Accountants (AICPA) and ICAI that is Institute of Chartered Accountants

Accounting principles, Accounting like a field of study in its developmenta...

Accounting like a field of study in its developmental process has evolved a theoretical framework consisting of concepts or principles over period of time. Such concepts enjoy a wi

Financial statement, describe why a high stock turnover is considered to be...

describe why a high stock turnover is considered to be a good thing

Give an example of a purely reactive system, Question : (a) One of the...

Question : (a) One of the characteristics of an agent is "proactiveness". Briefly explain the effect of this characteristic. (b) Give an example of a purely reactive syste

Closing stock, The Opening Stock of goods is the stock of goods in hand at ...

The Opening Stock of goods is the stock of goods in hand at the start of an accounting year. It may contain stock of raw material, work-in-progress and finished goods. It appears i

Inventory, Inventory Within a trading firm, inventory is merchandise he...

Inventory Within a trading firm, inventory is merchandise held for sale to customers into the ordinary course of business. In condition of manufacturing firms, inventory would

Transactions with the proprietor, You have learned about the business and i...

You have learned about the business and its proprietor is reacted as separate entities. It implies that separate accounts must be kept in the ledger for recording transactions amon

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd