Briefly explain how IFRS disclosures about accounting-related issues differ from U.S. GAAP disclosures
What will be an ideal response?
Answer: IFRS further requires that companies disclose additional information about the assumptions and estimates it made at the end of the reporting period. IFRS also requires that companies disclose the judgments (apart from those involving estimates and assumptions) that management has made in determining appropriate accounting treatments for amounts reported on the financial statements.
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Consider a single cash flow of 100 in five years. If the futurity is extended to six years, holding spot rates constant:
a) its price rises b) its price falls c) its price is unchanged d) none of the above
________ make their money by collecting data and designing research products that fit the information needs of more than one organization
A) Data processing services B) Syndicated services C) Field services D) Qualitative research services E) Pooling services