Q: Is it necessary and useful to have different valuation bases for different
Is it necessary and useful to have different valuation bases for different assets?
See AnswerQ: ‘Substance over form is a recipe for failing to achieve comparability
‘Substance over form is a recipe for failing to achieve comparability between financial statements of different enterprises.’ Discuss.
See AnswerQ: Explain why it is necessary to define either ‘asset’ or ‘
Explain why it is necessary to define either ‘asset’ or ‘expense’ from first principles, but not both. Why has the IASB chosen to define the former?
See AnswerQ: ‘In recent years, the IASB has clearly been moving towards
‘In recent years, the IASB has clearly been moving towards the use of current values rather than historical costs.’ Discuss.
See AnswerQ: Explain the difference between ‘hedging’ and ‘hedge accounting’. In
Explain the difference between ‘hedging’ and ‘hedge accounting’. In each case, what are the arguments in favor of doing them?
See AnswerQ: Explain the differences between an allowance, a liability, a contingent
Explain the differences between an allowance, a liability, a contingent liability, an obligation, a provision, an accrual, a fund and a reserve. State which set of accounting rules you have been using...
See AnswerQ: What factors have led to the establishment of multinational enterprises (MNEs
What factors have led to the establishment of multinational enterprises (MNEs)?
See AnswerQ: Compare the degrees of prudence found in accounting for employee benefits in
Compare the degrees of prudence found in accounting for employee benefits in Germany, Italy and the United States.
See AnswerQ: Explain, using various examples, the causes of deferred tax assets
Explain, using various examples, the causes of deferred tax assets and deferred tax liabilities.
See AnswerQ: Examine whether a deferred tax liability arising from temporary differences on the
Examine whether a deferred tax liability arising from temporary differences on the revaluation of an asset meets the IFRS definition of a liability.
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