According to the IFRS Foundation, approximately how many countries either require or permit the use of IFRS by publicly traded companies?a. 40 countries.b. 80 countries.c. 115 countries.d. 195 countries.
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According to the IFRS Foundation, approximately how many countries either require or permit the use of IFRS by publicly traded companies?
a. 40 countries.
b. 80 countries.
c. 115 countries.
d. 195 countries.
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- A foreign-based company must use US GAAP if it wants to have its stock traded on a US stock exchange. Group of answer choices True FalseGhana adopted IFRSs wholly in 2007, to replace the Ghana National Accounting Standards. State four (4) benefits that the country is expected to derive from adopting these international standards.Which of the following events caused international accounting standards to become more widely adopted? A. The creation of the International Accounting Standards Committee in 1973. B. The announcement by the European Union (EU) that listed companies within EU countries would have to adopt international reporting standards.' C. The creation of the International Accounting Standards Board in 2001. D. the U.S. Securities and Exchange Commission acceptance of international reporting standards for companies listed on the U.S. securities exchanges.
- Choose the correct. What is the so-called Norwalk Agreement?a. An agreement between the FASB and SEC to allow foreign companies to use IFRS in their filing of financial statements with the SEC.b. An agreement between the U.S. FASB and the U.K. Accounting Standards Board to converge their respective accounting standards as soon as practicable.c. An agreement between the SEC chairman and the EU Internal Market commissioner to allow EU companies to list securities in the United States without providing a U.S. GAAP reconciliation.d. An agreement between the FASB and the IASB to make their existing standards compatible as soon as practicable and to work together to ensure compatibility in the future.What is the so-called Norwalk Agreement?a. An agreement between the FASB and SEC to allow foreign companies to use IFRS in their filing of financial statements with the SEC.b. An agreement between the U.S. FASB and the U.K. Accounting Standards Board to converge their respective accounting standards as soon as practicable.c. An agreement between the SEC chairman and the EU Internal Market commissioner to allow EU companies to list securities in the United States without providing a U.S. GAAP reconciliation.d. An agreement between the FASB and the IASB to make their existing standards compatible as soon as practicable and to work together to ensure compatibility in the future.23 - Which institution determines the official exchange rates in our country?A) Official Banks B) Council of Ministers C) Ministry of Trade D) Ministry of FinanceE) Central Bank
- 8 What role insurance companies can play role in export and import among the countries.13 XYZ Corporation is a U.S.-based corporation. It has decided to move some of its accounting operations abroad. The company will continue to use U.S. GAAP for external reporting purposes. Should the company insist that the employees located in the international locations follow the U.S.-based corporate culture? Explain?What does it mean by "Financial Services" when pertaining to the North American Free Trade Area?
- Where are the EU regulations successful in ensuring financial statement comparability between enterprises based in many countries? What are your reasons for or against?at least 150 words in which you discuss the differences between GAAP and IFRS. · What are implications of the differences in these two different financial reporting systems? · What are two benefits and two challenges with each? Using your preferred search engine (such as Google), enter one or more of the following keywords: · · IFRS · U.S. GAAP conversion · U.S. GAAP convergence · U.S. GAAP v. IFRS1) What is Balance of Payments? What are the major components of BOP? Explain. 2) What are "Special Drawing Rights"? 3) What are factors affecting international trade flows? Explain each one briefly. 4) What are factors affecting international capital flows? Explain each one briefly.