Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

answer for all of these please thankyou 2 points Interim period: a financial reporting period shorter than a full financial year (most typically a half-year

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

answer for all of these please thankyou

2 points Interim period: a financial reporting period shorter than a full financial year (most typically a half-year or full year). O True O False 2 points Which statement about interim reporting is true? * The integral view is the appropriate O approach in preparing interim financial report. A complete set of financial O statements must be presented for an interim period. The same accounting principles O used for the annual report should be employed for interim report. All entities that issue an annual O report must issue interim financial report. 2 points If the annual financial statements were consolidated (group) statements, the interim statements should be group statements as well. * True O False 2 points Which of the following is correct regarding the provisions of PAS 34?* PAS 34 encourages publicly listed entities to prepare at least three O quarterly financial reports to be issued not later than 45 days after the end of each interim period PAS 34 requires publicly listed entities to prepare at least a semi- O annual financial report to be issued not later than 60 days after the end of the interim period. PAS 34 encourages publicly listed entities to prepare at least a semi- O annual financial report to be issued not later than 60 days after the end of the interim period. O PAS 34 requires both publicly and non-publicly listed entities to prepare at least a semi-annual financial report to be issued not later than 60 days after the end of the interim period. 2 points IAS 34 mandates how soon after the interim period a company should submit its Interim Financial Report. * True O False 2 points If a complete set of financial statements is published in the interim report, those financial statements need not be in full compliance with IFRSs. * O True O False 2 points Which of the following is not an objective of IAS 34?* To prescribe the principles for recognition and measurement in complete or condensed financial statements for an interim period To prescribe which entities are required to publish interim financial O reports, how frequently and how soon after the end of the reporting period O To prescribe the minimum content of an interim financial report O None of these 2 points If the company's business is highly seasonal, IAS 34 encourages disclosure of financial information for the latest 12 months, and comparative information for the prior 12-month period, in addition to the interim period financial statements. * O True O False 2 points What does the International Accounting Standards Committee encourage publicly traded entities to do? * O To make their interim financial reports available not later than 60 days after the end of the interim period O All of these To apply the same accounting policies in its interim financial report as are applied in its annual financial statements, including accounting O policy changes made after the date of the most recent annual financial statements that are to be reflected in the next annual financial statements To provide interim financial reports O at least as of the end of the first quarter of their financial year 2 points What does the International Accounting Standards Committee encourage publicly traded entities to do? O To make their interim financial reports available not later than 60 days after the end of the interim period O All of these To apply the same accounting policies in its interim financial report as are applied in its annual financial statements, including accounting O policy changes made after the date of the most recent annual financial statements that are to be reflected in the next annual financial statements To provide interim financial reports O at least as of the end of the first quarter of their financial year Interim financial report means 2 points a financial report containing for an interim period. * A complete set of financial statements An adjusted set of financial statements O A set of condensed financial statements O EITHER FIRST OPTION OR SECOND OPTION O EITHER FIRST OPTION OR THIRD OPTION

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Modern Internal Auditing An Operational Approach

Authors: Victor Zinn Brink

3rd Edition

0471065242, 978-0471065241

More Books

Students also viewed these Accounting questions

Question

Do Exercise 10-5 for the network

Answered: 1 week ago

Question

Discuss the roles of metacognition in learning and remembering.

Answered: 1 week ago

Question

Do you think physicians should have unions? Why or why not?

Answered: 1 week ago