Questions from Financial Reporting


Q: Comment on the responsibility of private companies under the Sarbanes-Oxley

Comment on the responsibility of private companies under the Sarbanes-Oxley Act.

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Q: If its accounting period ends December 31, would a company be

If its accounting period ends December 31, would a company be using a natural business year or a fiscal year?

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Q: Describe the book Accounting Trends & Techniques. Answer:

Describe the book Accounting Trends & Techniques.

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Q: Comment on the materiality implications of the Sarbanes-Oxley Act.

Comment on the materiality implications of the Sarbanes-Oxley Act.

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Q: Briefly describe the PCAOB. Answer: The

Briefly describe the PCAOB.

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Q: The SEC released for public comment a proposed road map for adoption

The SEC released for public comment a proposed road map for adoption of IFRS by public companies in the United States. What were the serious concerns?

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Q: Describe the Norwalk Agreement. Answer: The

Describe the Norwalk Agreement.

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Q: The following information for Decher Automotives covers the year ended 2012:

The following information for Decher Automotives covers the year ended 2012: Administrative expense………………………….. $ 62,000 Dividend income…………………………………… 10,000 Income taxes $...............................

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Q: The SEC announced that it would accept financial statements from private issuers

The SEC announced that it would accept financial statements from private issuers without reconciliation to U.S. GAAP if they are prepared using IFRS, as issued by the International Accounting Standard...

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Q: Professor Ball noted a number of problems with implementing IFRS. What

Professor Ball noted a number of problems with implementing IFRS. What were the problems noted by Professor Ball?

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