Latest Questions & Answers

Q: What are the five steps to follow in revenue recognition as proposed

What are the five steps to follow in revenue recognition as proposed in the IASB/FASB Exposure Draft on revenue from contracts with customers?

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Q: In its 2003 annual report, Honda Motor Company Ltd. states

In its 2003 annual report, Honda Motor Company Ltd. states: Honda’s manufacturing operations are principally conducted in 25 separate factories, 5 of which are located in Japan. Principal overseas man...

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Q: What is a customer loyalty program, and how is such a

What is a customer loyalty program, and how is such a program accounted for?

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Q: Under what conditions may revenue be recognized on a “bill-

Under what conditions may revenue be recognized on a “bill-and-hold” sale?

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Q: What approaches are used to recognize revenue from the rendering of services

What approaches are used to recognize revenue from the rendering of services? Under what conditions is each of these approaches used?

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Q: What are the criteria that must be met in order to recognize

What are the criteria that must be met in order to recognize revenue from the sale of goods?

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Q: What approaches are available for disclosing the relationship between tax expense and

What approaches are available for disclosing the relationship between tax expense and accounting profit?

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Q: Which income tax rates should be used in accounting for income taxes

Which income tax rates should be used in accounting for income taxes?

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Q: How is an impairment loss on property, plant, and equipment

How is an impairment loss on property, plant, and equipment determined and measured under IFRS? How does this differ from U.S. GAAP?

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Q: How is the revaluation surplus handled under the revaluation model?

How is the revaluation surplus handled under the revaluation model?

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