International Accounting

What are the two fundamental qualitative characteristics of useful financial information?

What is the equation for calculating work capital?

If an asset is still functional but can no longer make profit for the company, it is_______.

A faithful representation should be neutral complete and free from error.

How to calculate return on investment?

Which is NOT an enhancing qualitative characteristic of useful financial information?

When liability = 0, ROI will have the same value as ROE.

Liquidity is also know as short-term solvency.

High liquidity could signify…

Which FS provide information of parent and subsidiaries as one reporting entity?

Which of the following is not considered as “borrowing cost” under IAS 23?

How is the correct treatment for eligible borrowing costs under IAS 23?

If activities to prepare an asset for its sale or use are suspended, borrowing costs must be…

Which of the following is not a condition to commence capitalisation of borrowing costs?

Which of the following is not a “qualifying asset” under IAS 23?

Inventories should be valued at lower of cost and

If inventories are interchangeable you need to account for the inspenses for inventories in the specific amount of cost

Which costs are included in cost of inventories?

If the net realisable value is smaller than the costs, you need to write down inventories.

What is not recognized as an expense?

Which management ratio isn't based on revenues

The time of realizing revenues is not important?

Which statement belongs not to the 5 step-model of IFRS 15?

Which statement belongs not to the 5 step-model of IFRS 15?

The Customer is able to use the goods / services independently, when..

The raltive fair value of a good is calculated as followed

… is action by the government to supply an economic benefit specific to an entity or range of entities.

When a government agency invests in shares of an entity, this is covered by IAS 20.

Which of the following is the correct treatment of government grants related to an asset?

Why is it not possible to credit the grant to income in the period it is received?

A grant becomes repayable in case of …

Gov grants recognised when there is ___ that:
(a) entity will comply conditions attaching to them
(b) grant will be received

Grants should be recognised at … 

Tax breaks are covered by IAS 20 - Government Grants 

Which of the following is not an accurate treatment of government grants related to income?

Which of the following is NOT an example for a contingent liability?

Which of the following methods can NOT be used for measuring a provision?

Can you realize a provision for a liability whose occurrence is still uncertain today?

Classification of intangible assets is based on useful life

When the asset has an indefinite life, the asset should be amortized