Questions from International Accounting

Q: What is the IASB’s principles-based approach to accounting standard-

What is the IASB’s principles-based approach to accounting standard-setting?

Q: Refer to Exhibit 3.6 in this chapter and note the

Refer to Exhibit 3.6 in this chapter and note the countries that do not permit domestic listed companies to use IFRS. Required: Identify three countries from this group that are likely to have differ...

Q: D o you see a major change of emphasis in the harmonization

D o you see a major change of emphasis in the harmonization process since the establishment of the IASB? Explain.

Q: How does the classification of interest and dividends in the statement of

How does the classification of interest and dividends in the statement of cash flows differ between IFRS and U.S. GAAP?

Q: What are the three major types of intangible asset, and how

What are the three major types of intangible asset, and how does the accounting for them differ?

Q: What are the guidelines on selecting and changing accounting policies?

What are the guidelines on selecting and changing accounting policies?

Q: How are internally generated intangibles handled under IFRS? How does this

How are internally generated intangibles handled under IFRS? How does this differ from U.S. GAAP?

Q: What is the process for determining whether goodwill allocated to a specific

What is the process for determining whether goodwill allocated to a specific cash-generating unit is impaired?

Q: What are the differences in the amount of borrowing costs that can

What are the differences in the amount of borrowing costs that can be capitalized under IFRS and U.S. GAAP?

Q: How do the criteria for determining whether a lease qualifies as a

How do the criteria for determining whether a lease qualifies as a finance (capitalized) lease differ between IFRS and U.S. GAAP?