In the near future, there is a possibility that certain companies may be required to adopt...
In the near future, there is a possibility that certain companies may be required to adopt international accounting standards, including standards regarding the treatment of leases. If so, the entities affected would include:
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all companies that issue financial statements used for external purposes. |
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U.S. publicly held companies. |
||
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all companies that issue financial statements used for external purposes and U.S. publicly held companies. |
||
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None of these is correct. |
Homework Answers
(C) all companies that issue financial statements used for external purposes and U.S. publicly held companies.
Because the companies which may be required to adopt international accounting standards, including standards regarding the treatment of leases, include the companies whose Financial statements are used by external users. The companies that issue financial statements used for external purposes, may be required to adopt international accounting standards, to be comparable with the Industry standards. Also , U.S. publicly held companies are required to publish their Financial Statements publicly. General Public who are Investors or Prospective Investors of such company may use it's financial statements for analysis purpose. Thus it should also adopt international accounting standards , to be comparable with other companies.
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In the near future, there is a possibility that certain
companies may be required to adopt...
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companies that are listed on a stock exchange are required
to
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Please help me to figure out which 5 are correct answers. Thanks For more than a...
Please help me to figure out
which 5 are correct answers. Thanks
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companies and readers of a company’s financial
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Match the items below by entering the appropriate code
letter.
A.
Internal users
B.
Proprietorship
C.
Expenses
D.
Investing activities
E.
Financing activities
F.
Assets
G.
Liabilities
H.
Private corporation
I.
Dividends
J.
Public corporation
1.
Consumed assets or services.
2.
Ownership is limited to one
person.
3.
Officers and others who manage the
business.
4.
Creditor claims against the assets
of the company.
5.
A separate legal entity under
provincial or federal laws that is...
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companies that are listed on a stock exchange are required
to
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Please help me to figure out
which 5 are correct answers. Thanks
For more than a century, financial accounting has followed many paths throughout the world. Each country established its own standard-setting body to codify generally accepted accounting principles (GAAP) for entities operating in that country. (Click the icon to view additional information.) Requirement Evaluate the merits (both for and against) of having one set of financial accounting standards across the world. Select the arguments for having one set of...
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A. Undeniably, profitability is the ultimate goal of
companies and readers of a company’s financial
statements are very much interested in the reported profit figure.
The profit figure is achieved by the
preparation of the statement of profit or loss and the statement of
financial position. If the foregoing is the case, why then bother
about the statement of cash flows?
B. Globally, accounting standards are developed based
on different methods. It is generally agreed that the
nature of accounting...
Match the items below by entering the appropriate code
letter.
A.
Internal users
B.
Proprietorship
C.
Expenses
D.
Investing activities
E.
Financing activities
F.
Assets
G.
Liabilities
H.
Private corporation
I.
Dividends
J.
Public corporation
1.
Consumed assets or services.
2.
Ownership is limited to one
person.
3.
Officers and others who manage the
business.
4.
Creditor claims against the assets
of the company.
5.
A separate legal entity under
provincial or federal laws that is...
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