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OkeyDokey OkeyDokey
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5 years ago
Which of the following is the main difference between U.S. GAAP and IFRS in accounting for equity investments?
A) IFRS requires all equity securities to reported at cost, allowing companies to report gains and losses only when those securities are sold.
B) For equity securities without quoted prices in the active market, IFRS allows companies to determine a fair value for these securities based on market comparables or a discounted cash flow methodology.
C) For trading equity securities, IFRS includes unrealized gains and losses are reported as part of other comprehensive income instead of net income.
D) IFRS requires companies to report all equity securities into one investment classification, instead of the three investment classifications allowed under U.S. GAAP.
Textbook 
Intermediate Accounting

Intermediate Accounting


Edition: 1st
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JoslynJoslyn
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OkeyDokey Author
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#2
5 years ago
I wanna give this person a hug.
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