What is the indirect effect of a change in accounting policy? Briefly describe the approach to reporting

Question:

What is the indirect effect of a change in accounting policy? Briefly describe the approach to reporting the indirect effects of a change in accounting policy under IFRS.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Intermediate Accounting

ISBN: 978-0470587287

14th Edition

Authors: kieso, weygandt and warfield.

See More Books

Question Posted: Oct 10, 2011 09:20 AM

See More Questions

What is the indirect effect of a change in accounting principle? Briefly describe the reporting of the indirect effects of a change in accounting principle.
What are direct and indirect effects of a change in accounting principle? How does a company account for any direct and indirect effects?
Describe how a change in accounting policy affects the financial statements.
Find the nth, or general, term. a. 1, 3, 9,...... b. 25, 5, 1,....... c. 1, -1, 1, -1, .....
Why would an investor purchase a convertible bond?
The masses, in kilograms, of the animals treated at a veterinary clinic in the past year are illustrated in a histogram. The histogram has four columns of equal height. The following table shows the...
Which of the following errors would cause the balance sheet and statement of owners equity columns of a work sheet to be out of balance? a.Entering a revenue amount in the balance sheet and state...
Gottschalk Company sponsors a defined benefit plan for its 100 employees. On January 1, 2017, the company's actuary provided the following information. Accumulated other comprehensive loss...
need help on these 2 questions Chap. 2. Compute. Use OH Rate. Ex-2-13 Help Save Exit Submit Check my work 1 White Company has two departments, Cutting and Finishing. The company uses a job order...
Jim Jackson, a rate analyst for the Washington Water Power Company, while preparing for a rate case needed to forecast electric residential revenue for 1996. Jim decided to investigate three...
How might differences in presentation of comparative data under GAAP and IFRS affect adoption of IFRS by U.S. companies?
As part of the year-end accounting process and review of operating policies, Cullen Co. is considering a change in the accounting for its equipment from the straightline method to an accelerated...
Youre the general manager of a new NFL team in Oklahoma City. The owner gives you the task of deciding which uniforms the new team will wear in the upcoming season, and suggests you gather data from...
Contract for construction crew and equipment 8 Build parking lots Exterior lighting 11 7 20 12 Build foundation Start Interior Interior 12 9 electrical Final wiring finish Purchase 8 14 12 material...
Mad Hatter Enterprises purchased new equipment for $369,000, terms f.o.b. shipping point. Other costs connected with the purchase were as follows: State sales tax Freight costs Insurance while in...
Write down a C program that takes runs scored by a batsman and prints the status according to the following policy: Runs scored >80 50-79 30-49 10-29 <10 Grade Excellent 4 Very Good Good Average Poor
Consider the standard two-period maximization problem for investor j over s states of nature: Subject to S max u(c) + (s)u(c;}(s)) S=1 Cjo + q(s) C; (s) = Wjo +244) S=1 where all terms are as defined...
At what point should a leader cease gathering data, take the risk, and simply make the decision? Support your position.
Certain defenses can be used against an ordinary holder but are not effective against an HDC. What are these defenses called? Name four defenses that fall within this category. AppendixLO1
For the following arrangements, discuss whether they are 'in substance' lease transactions, and thus fall under the ambit of IAS 17.
Suppose we define the flexible geometric average G F (n) of asset prices at n evenly spaced time instants by and S i is the asset price at time t i . Here, i is the weighting factor associated with...
What follows are the liabilities and shareholders equity sections of the balance sheets for Kao Corp. and Bennington Corp. Each has assets totalling $4.2 million. At year end, the market price of...
What follows are the liabilities and shareholders equity sections of the balance sheets for Kao Corp. and Bennington Corp. Each has assets totalling $4.2 million. At year end, the market price of...
The following account balances are available from the ledger of Yutao Shui Corporation on December 31, 2011: Common Shares (20,000 shares authorized and outstanding) .....$1,000,000 Retained Earnings...
Prepare journal entries to record the following events: Jul. 1 Klemens Company accepted a 5%, 3-month, $8,000 note dated July 1 from Mox Company for the balance due on Mox's account. Jul. 31 Klemens...
FINANCIAL STATEMENT ANALYSIS INSTRUCTIONS 1. PREPARE RATIO ANALYSIS REPORT ( word file) Format 1. Introduction 2. Importance of Financial Statements 3. Importance of Financial statement analysis and...
Let us assume that Europe is in recession, China's economy is slowing down, and the US economy is growing at 1-2%. Use these assumptions to invest in 4 ETFs (electronically traded funds). The 4 ETFs...

What is the indirect effect of a change in accounting policy? Briefly describe the approach to reporting

Question:

Step by Step Answer:

The indirect effect of a change in accounting policy reflects any changes in current or ...View the full answer

Intermediate Accounting

Students also viewed these Accounting questions