Chapter 1 assignments and solutions

Chapter 1 assignments and solutions - True/False: 1. iGAAP...

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CHAPTER 1 HOMEWORK - SOLUTIONS Ex. 1-87 —Publications and organizations. Significant accounting publications are listed below (1-9). Sources or sponsors of accounting publications are identified next by alphabetical character (a-f). Match the publications with their sources. Publications _____ 1. Accounting Research Bulletins (1953-1959) _____ 2. Statements on Auditing Standards _____ 3. Journal of Accountancy _____ 4. Emerging Issues Task Force Statements _____ 5. Opinions (1962-1973) _____ 6. Technical Bulletins _____ 7. Statements of Financial Accounting Standards _____ 8. Statements of Financial Accounting Concepts _____ 9. Statements of Position (SOPs) Sources/Sponsors a. Auditing Standards Board d. Committee on Accounting Procedure b. Accounting Standards Executive Committee e. Accounting Principles Board c. The AICPA f. Financial Accounting Standards Board Solution 1-87 1. d 4. f 7. f 2. a 5. e 8. f 3. c 6. f 9. b
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Unformatted text preview: True/False: 1. iGAAP includes both International Financial Reporting Standards and International Accounting Standards. 2. International Financial Reporting Standards preceded International Accounting Standards 3. The standard-setting structure used by the International Accounting Standards Board is very similar to that used by the Financial Accounting Standards Board. 4. The rules-based standards of iGAAP are more detailed than the simpler, principles-based standards of U.S. GAAP. 5. The International Accounting Standards Board issues International Financial Reporting Standards. 6. International Accounting Standards are no longer considered part of iGAAP because they have been replaced by International Financial Reporting Standards. Answers to True/False questions: 1. True 2. False 3. True 4. False 5. True 6. False...
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This note was uploaded on 11/17/2010 for the course ACC ACC 305 taught by Professor Rogero during the Spring '10 term at University of Dayton.

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Chapter 1 assignments and solutions - True/False: 1. iGAAP...

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