Questions from International Accounting


Q: What is the benefit provided to an individual taxpayer through the foreign

What is the benefit provided to an individual taxpayer through the foreign earned income exclusion?

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Q: What are the different ways in which financial statements differ across countries

What are the different ways in which financial statements differ across countries?

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Q: Indicate whether each of the following describes an accounting treatment that is

Indicate whether each of the following describes an accounting treatment that is acceptable under IFRS, U.S. GAAP, both, or neither, by checking the appropriate box.

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Q: When a previously recognized impairment loss is subsequently reversed, what is

When a previously recognized impairment loss is subsequently reversed, what is the maximum amount at which the affected asset may be carried on the balance sheet?

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Q: What is a provision, and when must a provision be recognized

What is a provision, and when must a provision be recognized?

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Q: What are the alternative methods used internationally to present fixed assets on

What are the alternative methods used internationally to present fixed assets on the balance sheet subsequent to acquisition?

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Q: Under what conditions should a firm claim to prepare financial statements in

Under what conditions should a firm claim to prepare financial statements in accordance with IFRS?

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Q: To what extent have IFRS been adopted by countries around the world

To what extent have IFRS been adopted by countries around the world?

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Q: As expressed in IAS 1, what is the overriding principle that

As expressed in IAS 1, what is the overriding principle that should be followed in preparing IFRS-based financial statements?

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Q: What is the current treatment with respect to borrowing costs?

What is the current treatment with respect to borrowing costs?

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