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please answer all questions in details 2. From p. 81, QS 2-10 a. What type of journal entry system is applied when accounting follows IFRS?
please answer all questions in details
2. From p. 81, QS 2-10 a. What type of journal entry system is applied when accounting follows IFRS? (see p. 50, Transaction Analysis, p. 96) b. Identify the number and usual titles of the financial statements prepared under IFRS. (see p. 73, 96) C. How do differences in accounting controls and enforcement impact accounting reports prepared across different countries? ( see p. 97) 3. From p. 145, QS 3-28 a. Do financial statements prepared under IFRS normally present assets from least liquid to most liquid or vice versa? (see p. 166, including the Piaggio Balance Sheet) b. Do financial statements prepared under IFRS normally present liabilities from furthest from maturity to nearest to maturity or vice versa? (see p. 166, including the Piaggio Balance Sheet) 4. From p. 209 QS 4-23 a. Explain how the accounting for merchandise purchases and sales is different between accounting under IFRS versus U.S. GAAP. (see p. 224) b. Income statement prepared under IFRS usually report an item titled finance costs. What do finance costs refer to? (see p. 224) c. U.S. GAAP prohibits alternative measures of income reported on the income statement. Does IFRS permit such alternative measures on the income statement? (see p. 224) 2. From p. 81, QS 2-10 a. What type of journal entry system is applied when accounting follows IFRS? (see p. 50, Transaction Analysis, p. 96) b. Identify the number and usual titles of the financial statements prepared under IFRS. (see p. 73, 96) C. How do differences in accounting controls and enforcement impact accounting reports prepared across different countries? ( see p. 97) 3. From p. 145, QS 3-28 a. Do financial statements prepared under IFRS normally present assets from least liquid to most liquid or vice versa? (see p. 166, including the Piaggio Balance Sheet) b. Do financial statements prepared under IFRS normally present liabilities from furthest from maturity to nearest to maturity or vice versa? (see p. 166, including the Piaggio Balance Sheet) 4. From p. 209 QS 4-23 a. Explain how the accounting for merchandise purchases and sales is different between accounting under IFRS versus U.S. GAAP. (see p. 224) b. Income statement prepared under IFRS usually report an item titled finance costs. What do finance costs refer to? (see p. 224) c. U.S. GAAP prohibits alternative measures of income reported on the income statement. Does IFRS permit such alternative measures on the income statement? (see p. 224) Step by Step Solution
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