Questions from General Accounting

Q: What do we mean when we say that capital market research involves

What do we mean when we say that capital market research involves a joint test of both market efficiency and the model used to estimate abnormal returns?

Q: The EU opted to use exclusively IASB standards for consolidated financial statements

The EU opted to use exclusively IASB standards for consolidated financial statements beginning in 2005. What drove this decision?

Q: Compare the true and fair view of the United Kingdom, the

Compare the true and fair view of the United Kingdom, the “present fairly” outlook of the United States, and the legalistic view of the Continental model.

Q: What is the relationship between the IFAC and IASB?

What is the relationship between the IFAC and IASB?

Q: What are the main distinctions between the Anglo-Saxon and the

What are the main distinctions between the Anglo-Saxon and the continental models?

Q: How does the role of government differ in the United Kingdom and

How does the role of government differ in the United Kingdom and the United States relative to financial reporting?

Q: Evaluate the IASB’s approach to convergence.

Evaluate the IASB’s approach to convergence.

Q: As Schipper seets it, why do the rules based and principles

As Schipper seets it, why do the rules based and principles based approaches to standard setting tend to converge?

Q: Is the “available for sale” category for debt and equity

Is the “available for sale” category for debt and equity securities used in SFAS No. 115 a homogeneous category?

Q: Based on your reading of this chapter, plus your general knowledge

Based on your reading of this chapter, plus your general knowledge of accounting standards, identify five examples of measurement flexibility in the statement of financial position.