Worksheetsch 6 Harmonisasi dan Konvergensi
Total questions: 10
Worksheet time: 8mins
Commercial benefits of one set of global financial accounting standards.
A. Easier and less costly: Mergers and acquisitions
B. Easier and less costly: Raising of international finance
C. Easier and less costly: Corporate communications; and
Financial statement preparation.
D. Easier and less costly: Financial statement preparation.
E. Global comparability and transparency.
The composition of the oversight body (the Trustees of the International Accounting Standards Committee (IASC) Foundation), the advisory body (the Standards Advisory Council) and the interpretative body (IFRIC) represents the wider community by reflecting a diversity of geographical or professional backgrounds and membership of the standard-setting body (IASB) is ....
A. based on the principles of technical competence and independence.
B. Based on the rules
C. Based on Agreement
D. Based on Regulations
Different Accounting Systems :
A. B, C, D Semua Benar
B. Each country has own GAAP and Financial Statement format
C. Underlying reasons for differences
D. Implications for different accounting practices
Different Accounting Systems :Implications for different accounting practices
A. Terminology & reporting differences
B. Amount and type of disclosures (especially social & environmental) may differ
C. Lack of comparability
D. A, B, C Benar semua
Capital market implications :
A. More efficient access to capital for global corporations
B. Improved comparability across borders and within global industries
C. Reduced cost of compliance
D. Improved transparency of non-US companies
E. Streamlined M&A activity
Impact of IFRS on businesses :
A. Changes to information systems
B. The adoption of IFRS affects all facets of a business
C. Adequate and sufficient resources
D. A,B,C Salah Semua
Impact of international developments :
A. Cross-border deals that involve IFRS on the buyer’s or the seller’s side
B. Sell-off or carve-out of overseas operations likely to present information under IFRS
C. More Easy
D. More Difficult
Impact of international developments :
A. Cross-border deals that involve IFRS on the buyer’s or the seller’s side
B. Sell-off or carve-out of overseas operations likely to present information under IFRS
C. Information needs of investors
D. Uniform intra-group reporting
Key differences - IFRS and US GAAP
A. IFRS base on Principles and US GAAP base on rules
B. However, US GAAP is more prescriptive and rules-based addressing specific industries and types of transactions in many areas
C. US GAAPuse Fair value accounting
D. US GAAP base on priciples
What reason is there for needing 50 different sets of financial reporting standards?
A. Expensive to create and maintain quality standards
B. Financial Reporting not need set standard high quality
C. Hard to compare businesses reporting using different standards
D. Every country have one standard IFRS
