Question: 16, Explain the requirements when there is a departure from an accounting standard 17.Explain going concern, 18. Explain the accrual basis of accounting. 19. Explain

16, Explain the requirements when there is a departure from an accounting standard

17.Explain going concern,

18. Explain the accrual basis of accounting.

19. Explain materiality and aggregation.

20. What is the new definition of materiality?

21. What are the factors in determining materiality?

22. Explain the rule on offsetting

23. Explain the frequency of reporting financial statements.

24. What are the necessary disclosures when an entity presents financial statements for a period longer or shorter than one year?

25 Explain the requirement for comparable information.

26, What are the circumstances when three statements of financial position are required?

27. What is the consistency of presentation?

28. When is a change in the presentation and classification of items in the financial statements allowed?

29. What is the identification of financial statements?

30. What information shall be prominently displayed in identifying financial statements?

------ . NO PLA GIARISM PLEASE. THANK YOU

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