Indicate whether each of the following describes an accounting treatment that is acceptable under IFRS, U.S. GAAP,
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Acceptable Under IFRS US, GAAP Both Neither Bank overdra fts are netted against cash rather than being recognized as a liability when overdrafts are a nomalpart of cashmanagement. Uncertain legal obligations, but not constructive obligations, contingent upon a future event are recognized as liabilities when certain criteria are met. A defined benefit pension liability is measured asthe excess of the present value of the defined benefit obligation (PVDBO) over the fair value of plan assets (FVPA). Actuarial gains andlosses in a defined benefit pension plan are amor tized to net income over a period oftime. The compensation cost associated with graded-vesting stock optionsis amortizedto expense on a straight-line basis over the vesting period. The minimum amount recognized as compensation expense on a stodcl option plan is the compensation cost as measured at the grant date, even ifa subsequent modification to the plan decreases the total compensation cost Deferred taxes are classified as current or noncurrent based on the classification ofthe related asset or liability The stage-of-completion method is used to recognize revenue from service transactions when specified criteria are met. Nonredeemable prefered shares are classified as a liabiity on the balance sheet Costs associated with the issuance of debt are amortizedon a straight-line basis over the life ofthe debt.
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