Answer each of the following related to international accounting standards. 1. Which method, indirect or direct, is
Question:
1. Which method, indirect or direct, is acceptable for reporting operating cash flows under IFRS?
2. For each of the following four cash flows, identify whether it is reported under the operating, investing, or financing section (or some combination) within the indirect format of the statement of cash flows reported under IFRS and under U.S.GAAP.
Transcribed Image Text:
Cash Flow Source US GAAP Reporting FRS Reporting b. Dividends paid... c. Interest receved.. d. Dividends recelved a
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (13 reviews)
1 Under IFRS as with US GAAP both the indirect method and direct method of reporting operatin...View the full answer
Answered By
SUBODH VERMA
For the last 20 years I remain highly professional faculty in different organisations and have produced thousands of results in IIT JEE which is supposed to be one of the toughest entrance exam. I remained as HOD as well as director in reputed institutions. my weakness is that I am inclined only towards Organic Chemistry. I love solving the questios of Organic part, the reason may be I have been dealing this part for more than 20 years.
0.00
0 Reviews
10+ Question Solved
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
Question Posted:
Students also viewed these Managerial Accounting questions
-
Answer each of the following related to international accounting standards. a. In general, how similar or different are the definitions and characteristics of current liabilities between IFRS and...
-
Answer each of the following related to international accounting standards. a. Accounting for plant assets involves cost determination, depreciation, additional expenditures, and disposals. Is plant...
-
Answer each of the following related to international accounting and analysis. a. Identify an advantage to using horizontal and vertical analyses when examining companies reporting under different...
-
Oil flows through the 100-mm-diameter pipe with a velocity of 5 m/s. If the pressure in the pipe at A and B is 80 kpa, determine the x and y components of force the flow exerts on the elbow. The flow...
-
Consider the direct beat transfer from a heal reservoir at T1 to another heat reservoir at temperature T2, where T1 > T2 > T(. It is not obvious why the Inst work of this process should depend on T(....
-
The Twombly Court gives no weight to the allegation of conspiracy in assessing the sufficiency of the complaint because "conspiracy" is a legal conclusion. Yet the Twombly Court approves of Form 11....
-
What is the process for starting an appeal?
-
Paladin Parabolics Company produces high-quality microscopes for education and health care uses. The company uses a job order costing system. Because the microscopes' optics require significant...
-
Paubaya Co. uses standard costing for the accounting of its product. The budget officer provided the following standard data imposed by the top-level management concerning the direct materials:...
-
In the investment world, commodities are typically pretty boring. From livestock to grains to steel and other metals, commodities have their ups and downs. But long term, the world will always need...
-
Use the following financial statements and additional information to (1) Prepare a statement of cash flows for the year ended December 31, 2012, using the indirect method, and (2) Analyze and briefly...
-
Rasheed Company reports net income of $390,000 for the year ended December 31, 2011. It also reports $70,000 depreciation expense and a $10,000 gain on the sale of machinery. Its comparative balance...
-
Two isolated rock outcrops share a few similar characteristicssequence of layers, mineralogy, and certain fossil communitiesbut not all layers are present. The rocks are separated by 300 km. Could...
-
All of the following are core attributes of an effective corporate governance system except: A. fairness and accuracy in identifying inherent conflicts of interest. B. clearly defined governance...
-
Your friend says that scientific theories cannot be believed because they are always changing. What can you say to counter this argument?
-
With regard to net present value (NPV) profiles, the point at which a profile crosses the horizontal axis is best described as: A. the point at which two projects have the same NPV. B. the sum of the...
-
When was a control used in the investigation of the amphipods and sea butterflies? Why was a control necessary?
-
Which of the following is a core attribute that the Wall Street analyst left out of his analysis of AMC? A. Corporate governance systems rely on checks and balances among managers, directors, and...
-
Ecuador is the worlds leading exporter of bananas, which are grown and harvested by a large labor force that includes many children. Assume Ecuador now outlaws the use of child labor on banana...
-
Refrigerant R-12 at 30C, 0.75 MPa enters a steady flow device and exits at 30C, 100 kPa. Assume the process is isothermal and reversible. Find the change in availability of the refrigerant.
-
Which statement is true about the following figure while ensuring the code continues to compile? (Choose two.) A. can be inserted at positions P and R without making any other changes. B. can be...
-
Refer to information in QS 9-9. Assume a target income of 12% of average invested assets. Compute residual income for each division. In QS 9-9 Investment Center Cameras and camcorders Phones and...
-
The management of Samsung is planning to invest in a new companywide computerized inventory tracking system. What makes this potential investment risky?
-
A company is considering investing in a new machine that requires a cash payment of $47,947 today. The machine will generate annual cash flows of $21,000 for the next three years. Assume the company...
-
based on the article How Chili's Is Prepping for Tough Times, Starting With the Fries by Heather Haddon. What is corporate social responsibility, and what is one way that Chili's can better pursue...
-
A rocket takes off vertically from the Launchpad with no initial velocity but a constant upward acceleration of 2.25 m/s. At 15.4 s after blastoff, the engines fail completely so the only force on...
-
At the beginning of year 1, a company acquires a $1,000,000 term loan with an interest rate of 7.50% and an annual payment based on a 15-year amortization. The total liabilities section of the...
Study smarter with the SolutionInn App