Ask Question
BusinessBusiness
7 May, 09:55

If authoritative U. S. GAAP is not available for a particular research issue, and the researcher looks to IFRS for similar transactions, the researcher is said to be defaulting to IFRS. analogizing to IFRS. applying the IFRS Framework. deferring to IFRS.

+5
Answers (2)
  1. 7 May, 11:15
    0
    Applying FRS Framwork
  2. 7 May, 12:53
    0
    Applying IFRS framework

    Explanation:

    Frameworks are regulations and policies that are put in place to guide the activities of a particular system. GAAP is an accounting framework in the US

    In a situation where a desired framework is not available, another similar framework can be adopted and applied provided it suit the intended purpose.

    This means that the scope, use and governance principle must be considered before adoption.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “If authoritative U. S. GAAP is not available for a particular research issue, and the researcher looks to IFRS for similar transactions, ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
The average price of a gallon of milk increased from $3.00 last year to $3.50 this year. This is most likely due to
Answers (1)
Fly high pilot training academy owns several planes used for instruction to new pilots. it follows accrual basis accounting. when it acquires a new plane it will record it as a (n)
Answers (1)
Owen Company's unadjusted book balance at June 30 is $9,700. The company's bank statement reveals bank service charges of $45.
Answers (1)
Who is one of the first salem residents to be accused of witchcraft in this play?
Answers (1)
16. What size paper should you use for a legal document? A. 3" x 5" B. 8/2" x 11" C. 872" x 14" D. 74" x 1072"
Answers (2)
New Questions in Business
Your firm is a U. K.-based exporter of bicycles. You have sold an order to a Swiss firm for SFr. 1,000,000 worth of bicycles. Payment from the Swiss firm (in Swiss francs) is due in 12 months.
Answers (1)
Assume that the total value of the following items is $600 billion in a specific year for Upper Mongoose: net exports = $50 billion; value of new goods and services produced in the underground economy = $75 billion;
Answers (1)
Managers rarely have to manage multicultural teams within one organization in one location. a. True b. False
Answers (1)
Shares of RossCorp stock are selling for $45 per share. Brokerage commissions are 2% for purchases and 2% for sales. The interest rate on margin debt is 6.25% per year. The maintenance margin is 30
Answers (1)
For each of the goods, identify the characteristics that describe each good. Note that each good will be described with two characteristics. Rivalrous is also referred to as rival in consumption.
Answers (1)
Home » Business » If authoritative U. S. GAAP is not available for a particular research issue, and the researcher looks to IFRS for similar transactions, the researcher is said to be defaulting to IFRS. analogizing to IFRS. applying the IFRS Framework.
Sign Up Forgot Password?