Questions from International Accounting


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?

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Q: ‘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.

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Q: 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?

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Q: ‘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.

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Q: 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?

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Q: 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...

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Q: What factors have led to the establishment of multinational enterprises (MNEs

What factors have led to the establishment of multinational enterprises (MNEs)?

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Q: 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.

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Q: Explain, using various examples, the causes of deferred tax assets

Explain, using various examples, the causes of deferred tax assets and deferred tax liabilities.

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Q: 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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