When is a lease a “green lease”? The term “green lease” is actually an umbrella term which captures any lease which contains or refers to environmental provisions. For example, it would include a commercial lease with a non-binding environmental memorandum of understanding which sits alongsid...
What is the advantage or disadvantage of a corporation partnering with an NGO? Discuss the main advantages/disadvantages of financial regulations. What are the differences between the IFRS and US GAAP on the Treatment of Restructuring Provisions? Explain. What are some advantages and disadvantages of...
What is the significant difference between accounting for a bond under U.S. GAAP and IFRS? What are the negative consequences, if any, that an account can expect who fails to follow GAAP? Compare GAAP to the IFRS. How do they relate to the practice of accounting and its u...
Onerous contracts If you assessed the lease as onerous contract under IAS 37 immediately before the date of initial application, you do NOT have to perform the impairment test on right-of-use asset, but you can adjust its carrying amount by the amount of provision for onerous contract instead....
Provisions under IAS 37– maybe you will need to think of any restructuring plans, or provisions for onerous contracts; Measurement of inventories under IAS 2– maybe the value of inventories of different kinds will go down, just because some of them might have an expiry period (and you are...
There were relatively generous provisions for the manumission of slaves – even for “sojourner” slaves – those who were not born Israelites. Slavery was not viewed as a permanent condition, but an unfortunate circumstance from which the slave might achieve release. Roman law also provided for ...
What is the difference between U.S. GAAP and i-GAAP on reporting assets on the balance sheet? How is the term reserve used under IFRS, and how does it differ from its meaning under U.S. GAAP? How is the term provision used...
Create an account Ask a question Our experts can answer your tough homework and study questions. Ask a question Search AnswersLearn more about this topic: International Financial Reporting Standards | Meaning & History from Chapter 7 / Less...