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Accounting-7801197

Accounting-7801197 - ASSIGNMENT CODE 7801197 1 Which of the...

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ASSIGNMENT CODE: 7801197 1. Which of the following is not currently the subject of a joint IASB-FASB project? a. Financial statement presentation b. Research and development c. Revenue recognition d. Conceptual framework Solution: Correct option is b. Research and Development Explanation : Currently, the FASB and IASB are conducting joint projects to address Financial Statement Presentation, Revenue Recognition, Conceptual Frame-work and Business Combinations. 2. Under the SEC;s IFRS roadmap, which of the following is a criterion that would make a U>S> company eligible for the early use of IFRS? a. The company is one of the 20 largest companies in the United States b. The company is one of the 50 largest companies in the world c. The company is one of the 20 largest companies in its industry worldwide d. The company is in one of the 10 largest industries in the world Solution: Correct option is( c) :The company is one of the 20 largest companies in its industry worldwide Explanation : . The SEC;s IFRS Roadmap proposes early adoption for years ending after 15
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