Ifrs consolidated without Study guides, Class notes & Summaries

Chapter 02 Investments in Equity Securities Multiple Choice Questions 1. Which of the following types of share investment does NOT qualify as a strategic investment? A. Significant influence investments. B. Joint Control investments. C. Investments without significant influence. D. Controlled investments. Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 02-01 Describe the main changes in the reporting of equity investments over...

1. Which of the following would NOT be a reason to obtain a greater understanding of accounting practices in other nations? A. Financial results are disclosed in different currencies. B. One needs to be aware of differing disclosure requirements from nation to nation, as this impacts the preparation of financial statements. C. Income-smoothing may have affected a foreign subsidiary's results; such smoothing practices are not permitted in North America. D. Departures from the historical c...

Conceptual and Case Analysis Frameworks for Financial Reporting Multiple Choice Questions 1. Which of the following would NOT be a reason to obtain a greater understanding of accounting practices in other nations? A. Financial results are disclosed in different currencies. B. One needs to be aware of differing disclosure requirements from nation to nation, as this impacts the preparation of financial statements. C. Income-smoothing may have affected a foreign subsidiary's results; such smo...

CPA Examination Fundamental Characteristics of Accounting Information - Correct Answer-1. Relevance 2. Reliability (faithful representation) Comprehensive Income - Correct Answer-NI + OCI Unrealized G/L AFS Securities - Correct Answer-OCI: Not on income statement Unusual, frequent items - Correct Answer-No separate disclosures Aspects of Relevance - Correct Answer-Predictive Value, Confirmatory Value, Materiality Aspects of Reliability - Correct Answer-Comparability (cons...

. In Financial Close Manager, when would you choose to define tasks in a Template rather than create a new Schedule each month? A. when the tasks are repeatable over multiple close cycles B. when the tasks require consistent definition across close schedules C. when the tasks are often late in completion and they need to be monitored more closely D. when the tasks require multiple levels of approvers - Correct answer-A. when the tasks are repeatable over multiple close cycles 2. Which tw...

ZDSFFSDF 21212 BUSINESS COMBINATION AND CONSOLIDATED FIINANCIAL STATEMENTS Exam 2020 – Saint Paul School of Business & law 14. Which of the following statements is TRUE? A. The intercompany profit in inventory transfer between affiliates is computed by multiplying the inventory held by the buying affiliate which was acquired from the selling affiliate by the gross profit rate based on sales of the buying affiliate. B. The income and expenses of a subsidiary are included in the consolidated fin...

CONCEPTUAL FRAMEWORK UNDERLYING FINANCIAL ACCOUNTING IFRS questions are available at the end of this chapter. TRUE-FALSE—Conceptual Answer No. Description F 1. Nature of conceptual framework. T 2. Conceptual framework definition. F 3. Levels of conceptual framework. T 4 International conceptual framework. F 5. Statements of Financial Accounting Concepts. T 6. Decision usefulness.Objective of financial reporting. F 7. Financial statement users. T 8. Relevance and reliabilityfaithful r...

CHAPTER 14 LONG-TERM LIABILITIES IFRS questions are available at the end of this chapter. TRUE-FALSE—Conceptual Answer No. Description T 1. Bond interest payments. F 2. Debenture bonds. T 3. Definition of serial bonds. F 4. Market rate vs. coupon rate. F 5. Definition of stated interest rate. T 6. Stated rate and coupon rate. F 7. Amortization of premium and discount. F 8. Issuance of bonds. F 9. Interest paid vs. interest expense. T 10. Accounting for bond issue costs. T 11....

CHAPTER 14 LONG-TERM LIABILITIES IFRS questions are available at the end of this chapter. TRUE-FALSE—Conceptual Description T 1. Bond interest payments. F 2. Debenture bonds. T 3. Definition of serial bonds. F 4. Market rate vs. coupon rate. F 5. Definition of stated interest rate. T 6. Stated rate and coupon rate. F 7. Amortization of premium and discount. F 8. Issuance of bonds. F 9. Interest paid vs. interest expense. T 10. Accounting for bond issue costs. T 11. Refunding...