Questions from Intermediate Accounting

Q: How can management create an impediment to the exercise of good judgment

How can management create an impediment to the exercise of good judgment?

Q: Does U.S. GAAP require that companies disclose information about

Does U.S. GAAP require that companies disclose information about the assumptions and estimates they make in their financial statements? Explain.

Q: Does IFRS require that companies disclose information about the assumptions and estimates

Does IFRS require that companies disclose information about the assumptions and estimates they make in their financial statements? Explain.

Q: Does U.S. GAAP require that companies disclose their accounting

Does U.S. GAAP require that companies disclose their accounting policies? Explain.

Q: Does IFRS require that companies disclose their accounting policies? Explain.

Does IFRS require that companies disclose their accounting policies? Explain.

Q: What is the difference between the availability and confirmatory biases?

What is the difference between the availability and confirmatory biases?

Q: What types of biases are individual decision makers subject to when exercising

What types of biases are individual decision makers subject to when exercising judgment in addressing accounting issues?

Q: What types of biases are individual decision makers subject to when exercising

What types of biases are individual decision makers subject to when exercising judgment in addressing accounting issues?

Q: How does a principles-based standard differ from a rules-

How does a principles-based standard differ from a rules-based standard?

Q: Describe the accounting cycle.

Describe the accounting cycle.