1 . State five ( 5 ) reasons for the differences in national accounting standards 2 ....
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State five reasons for the differences in national accounting standards
What are International Financial Reporting Standards IFRSs
Many countries are adopting IFRSs although they are not under compulsion to do so Some are however reluctant to adopt IFRSs. State and explain briefly five factors or reasons that may influence a countrys decision to adopt IFRSs.
IFRS are relevant to various stakeholders. State the relevance of IFRSs to each of the following stakeholders:
Investors
Multinational companies
Governments
State four main criticisms against the adoption of IFRSs in some countries.
Ghana adopted IFRSs wholly in to replace the Ghana National Accounting Standards. State five benefits that the country is expected to derive from adopting these international standards.
What are the objectives of the International Accounting Standards Board IASB
Explain the relationship between the following international bodies: IASB, IASC Foundation, SAC and the IFRIC.
Accounting standards are developed based on a well laid process to ensure they stand the test of time. Explain the standard setting process.
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1111822361
1st edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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