Kim is a member of a project team that reviews financial reporting issues, exchanges views with national standard setters, consults with relevant bodies within the IFRS Advisory Council and, after publishing discussion papers, drafts and publishes for public comment, an Exposure Draft.Within the development of IFRSs, which one of the following best describes the actions taken by Kim and her team?
参考答案(由小熊题库网聘请的专业题库老师提供的解答)
请点击↑↑↑ 查看官方参考答案 按钮
习题解析
请点击 查看官方参考答案 按钮
您可能感兴趣的题目
1 .Which of the following factors could cause a company’s gross profit percentage on sales to fall below the expected level?
A Overstatement of closing inventories B The incorrect inclusion in purchases of invoices relating to goods supplied in the following period C The inclusion in sales of the proceeds of sale of non-current assets.
2 .Based on these figures, what is Orset’s sales figure for the year ended 30 June 2011?
A USD2,352,000 B USD1,038,000 C USD1,008,000 D USD917,280
4 .The issue of a new IFRS means that: (1) An existing standard may be partially or completely withdrawn (2) Issues that are not in the scope of an existing standard are covered (3) Issues raised by users of existing standards are explained and clarified (4) Current financial reporting practice is modifiedWhich combination of the above will most likely be the result of issuing a new IFRS?
A 1, 2 and 3 only B 2, 3 and 4 only C 1, 3 and 4 only D 1, 2 and 4 only
5 .Which of the following most closely describes the meaning of prudence in the IASB’s “Framework for the Preparation and Presentation of Financial Statements”?
A The use of a degree of caution in making estimates required under conditions of uncertainty. B Ensuring that accounting records and financial statements are free from material error. C Understating assets and gains and overstating liabilities and losses. D Ensuring that financial statements comply...
6 .Which of the following statements about accounting concepts are correct? (1) The entity concept requires that a business is treated as being separate from its owners.(2) The prudence concept means that the lowest possible values should be applied to income and assets and the highest possible values to expenses and liabilities.(3) The money measurement concept means that only assets capable of being reliably measured in monetary terms can be included in the financial statements.
A 1 and 2 only B 1 and 3 only C 2 and 3 only D All three statements
7 .Which of the following statements about accounting concepts are correct? (1) The money measurement concept requires all assets and liabilities to be accounted for at original (historical) cost.(2) The substance over form convention means that the economic substance of a transaction should be reflected in the financial statements, not necessarily its legal form.(3) The realisation concept means that profits or gains cannot normally be recognised in profit or loss until realised.(4) The application of the prudence concept means that assets must be understated and liabilities must be overstated in preparing financial statements.
A 1 and 3 B 1 and 4 C 2 and 3 D 2 and 4
