Accounting-7801175

Accounting-7801175 - filing of financial statements with...

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QUESTIONS: 1. According to the IASB, IFRS are composed of a. International financial reporting standards issued by the IASB only b. International accounting standards issued by the IASC only c. International financial reporting standards issued by the IASB and international accounting standards issued by the IASC d. International financial reporting standards issued by the IASB and statements of financial accounting standards issued by the FASB. 2. After 2012, which of the following countries will be using IFRS? a. Canada b. Mexico c. Brazil d. All of the above 3. What is the so-called Norwalk agreement? a. An agreement between the FASB and SEC to allow foreign companies to use IFRSs in their
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Unformatted text preview: filing of financial statements with the SEC. b. An agreement between the U.S. FAS and the U.K. accounting standards board to converge their respective accounting standards as soon as practicable. c. An agreement between the SEC chairman and the EU internal market commissioner to allow EU companies to list securities in the United States without providing a U.S. GAAP reconciliation d. An agreement between the FASB and the IASB to make their existing standards compatible as soon as practicable and to work together to ensure compatibility in the future....
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This note was uploaded on 02/21/2012 for the course ACT 492 taught by Professor Ngo during the Fall '11 term at Colorado.

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