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Does IFRS require that companies disclose information about the assumptions and estimates they make in their financial statements? Explain. A . IFRS requires a disclosure
Does IFRS require that companies disclose information about the assumptions and estimates they make in their financial statements? Explain.
A IFRS requires a disclosure about the assumptions made in the financial statements. However, IFRS does not require that companies disclose the estimates and judgments that management has made in determining appropriate accounting treatment for amounts reported on the financial statements.
B IFRS requires a disclosure about the assumptions and estimates made in the financial statements. IFRS also requires that companies disclose the judgments that management has made in determining appropriate accounting treatment for amounts reported on the financial statements.
C IFRS does not require a disclosure about the assumptions and estimates made in the financial statements. However, IFRS does require that companies disclose the judgments that management has made in determining appropriate accounting treatment for amounts reported on the financial statements.
D IFRS requires only entities in manufacturing businesses to disclose the assumptions and estimates made in the financial statements. However, IFRS does not require disclosure in manufacturing companies under $M in revenue.
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Intermediate Accounting Volume 2
Authors: Hanlon, Hodder, Nelson, Roulstone, Dragoo
2nd Edition
1618533134, 9781618533357
