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WorksheetsMinigame - IFRS Challenge 2021 - Final Round
Total questions: 14
Worksheet time: 7mins
How many teams are there in the final round of the IFRS Challenge 2021?
3
4
5
6
How many rounds are there in the final round of the IFRS online challenge?
2
3
4
5
Is it mandatory for enterprises to adopt IFRS in 2022?
Yes
No
Could enterprises adopt IFRS now, in 2021?
Yes
No
According to the training syllabus, are students, who are studying in the Accounting Faculty of the Academy of Finance, received training on IFRS/IAS?
Yes
No
According to the Decision No. 345/QĐ-BTC, which types of enterprise could adopt IFRS after 2025?
Listed enterprises
State-owned enterprises
Large-sized enterprises
All types of enterprise
Can the Conceptual Framework override requirements in a Standard?
Yes
No
Information needed to assess management's stewardship is always different from information needed to assess the prospects for future net cash inflows to the entity. True or false?
True
False
If an IFRS Standard sets out requirements that are inconsistent with the Conceptual Framework, preparers have to apply the Conceptual Framework for affected transactions. True or false?
True
False
Only a legal entity can be a reporting entity. True or false?
True
False
The Conceptual Framework defines an asset as:
A resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity
A present economic resource controlled by the entity as a result of past events
A right to receive income or reduce expenses in the future
None of the above
A trade-off between the fundamental qualitative characteristics of relevance and faithful representation may need to be made in order to meet the objective of financial reporting. True or false?
True
False
Does the ICAEW is the first and only international organisation in Vietnam to receive funding from the British government via the British Embassy in Vietnam to implement the project to support the application of the IFRS in Vietnam in 2016 and 2017?
True
False
What does IFRS stand for?
International Financial Reporting Standards
International Financial Recording Standards
