Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Active Tutors
Asked Questions
Answered Questions
What meant by the term one-line consolidation? What differences occur in financial statement when one-line consolidation rather than full consolidation is used?
Why does the FASB's reporting entity project logically precede any conelusion regarding consolidated financial reporting?
How are minority interests handled in consolidations? What is an equity carve-out? Distinguish among sell-offs, spin-offs, split-offs, and split-ups.
Why does the elimination of pooling improve representational faithfulness and comparability? What are the main issues surrounding the special purpose entity?
How do accounting exposure and economic exposure differ? Why would balance sheets prepared under. SFAS No. 8 lack additivity?
What does harmonization of accounting standards mean? What is convergence and how does it differ from harmonization?
What is the relationship between the IFAC, lASC? What are the main distinctions between the Anglo-American and the continental models?
Why do the six criteria or guidelines for determining the functional currency in SFAS No. 52 provide a good example of finite uniformity?
Why is the choice of accounting policies (expensing vs. Capitalization) more likely to affect smaller companies?
What is the critical issue in interpreting the nature of this transaction? How does interpretation of the critical issue lead to the two different viewpoints?
Should incentive and non qualified stock options be treated the same on financial? What is the purpose of pro forma earnings and why does it present a problem?
Why do you think earnings is managed when it appears that-actual in come might be less than management's voluntary forecasts of earnings?
Is earnings per share an example of finite or rigid uniformity? Why is the handling of troubled debt restructuring under SFAS No.
Why is comprehensive income an application of proprietary theory? Describe the incentives that might motivate income smoothing, and the ways it could be done.
Why might the distinction between revenues and gains, and between expenses and losses, be important to report yet unimportant as to how they are reported?
Why is there no matching problem for periodic COSTS, and what are some examples?
Determine the fair value of the derivative and state whether it would be an asset or a liability.
What would be the amount, if anv, that should be written offer because the asset is impaired under SF.AS No. 12I?
Based on your review, what level of user sophistication do you think is necessary to understand how the balance sheet numbers have been derived?
Why do derivatives create difficult problems relative to balance sheet classification and valuation?
What is a securitization and why do firm's use this technique? Of the various reasons for dealing in treasury stock which do you think is the most questionable?
Identify as many examples as you can of measurement flexibility in the statement of financial position.
What is meant by this? Give some examples. Why is the accounting classification system the foundation of the accounting discipline?
What are deferred charges and deferred credits, how do they come about, and do they conform to asset and liability definitions?
What is the purpose of balance sheet classification? How useful is the information produced from a classified balance sheet?