financial accounting revision question

Revision question on advantages of adopting accounting standards.



It is sometimes argued that companies should be given a choice in matters of financial reporting on the grounds that accounting standards are detrimental to the quality of such reporting.

Required:

Identify FIVE points in favor of the adoption of accounting standards.                   … Read the rest

Revision question on IAS 10 (NBAA May 2017)

(a) Consider the following list of events that occurred between 31st December 2016(reporting date) and 31st March 2017 (date of authorization of financial statement for issue) and decide which one you would classify as adjusting events and which are non-adjusting events.  You should also state clearly the treatment that you are proposing in each case.
(i) The … Read the rest