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  • An Noun 11987

    Transféré par

    avdeshpande77
    5 vues12 pages
    Unrealized gain on foreign currency translation should be presented in a cash flow statement. When a public shareholding company changes an accounting policy voluntarily, it has to (a) Inform shareholders prior to taking the decision. The effect of a change in accounting policy should be treated as an extraordinary item.

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    Unrealized gain on foreign currency translation should be presented in a cash flow statement. When a public shareholding company changes an accounting policy voluntarily, it has to (a) Inform shareholders prior to taking the decision. The effect of a change in accounting policy should be treated as an extraordinary item.

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    Attribution Non-Commercial (BY-NC)
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    5 vues12 pages

    An Noun 11987

    Transféré par

    avdeshpande77
    Unrealized gain on foreign currency translation should be presented in a cash flow statement. When a public shareholding company changes an accounting policy voluntarily, it has to (a) Inform shareholders prior to taking the decision. The effect of a change in accounting policy should be treated as an extraordinary item.

    Droits d'auteur :

    Attribution Non-Commercial (BY-NC)
    Téléchargez comme PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 12

    a) b) c)

    a)

    b)

    Q.45 Which of the following is not a qualitative characteristic of financial statements according to the Framework? (a) Materiality. (b) Understandability. (c) Comparability. (d) Relevance.

    Q.46. How should an unrealized gain on foreign currency translation be presented in a cash flow statement? (a) As an inflow in the financing activities section of the cash flow statement because it arises from a foreign currency translation. (b) It should be ignored for the purposes of the cash flow statement as it is an unrealized gain. (c) It should be ignored for the purposes of the cash flow statement as it is an unrealized gain but it should be disclosed in the footnotes to the financial statements by way of abundant precaution. (d) As an adjustment to the net income in the operating activities section of the statement of cash flows.

    When a public shareholding company changes an accounting policy voluntarily, it has to (a) Inform shareholders prior to taking the decision. (b) Account for it retrospectively. (c) Treat the effect of the change as an extraordinary item. (d) Treat it prospectively and adjust the effect of the change in the current period and future periods.

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