In what ways/How can making accounting standards compulsory cause problems in financial presentation according to the International Accounting Standards 1?
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- Do the conceptual frameworks of the International Accounting Standards Board and the Financial Accounting Standards Board vary in terms of the function of financial reporting?What contemporary factors are contributing to the internationalization of the subject of accounting?Difference between Financial Accounting Standards Board and International Accounting Standards Board. Explain
- Which factor explaining why accounting practices differ across countries do you think is most important? Explain why.Is there an indirect consequence to a change in accounting policy? Introduce the methodology for reporting the indirect consequences of a change in accounting policy under International Financial Reporting Standards (IFRS).How do you think accounting standards should be set? Is that the approach currently taken by the IASB?
- What can be understood from International Accounting Standards Board (IASB)?How do accounting standards and regulations (such as GAAP or IFRS) impact financial reporting? What is the purpose of these standards and why are they important?When a change in accounting policy occurs, what is the indirect effect? Briefly discuss the technique used by the International Financial Documenting Standards (IFRS) to reporting the indirect consequences of a change in accounting policy.
- In what ways does revenue recognition differ from other financial accounting practices?What is the role of accounting theory in the development and implementation of accounting standards?Changes to accounting policy may have both direct and indirect effects. List the methods used to record indirect consequences of a change in accounting policy under International Financial Reporting Standards.
