Financial accounting is concerned with –

Related MCQs

• Indian accounting standards are the International financial reporting standards converged standards issued by the central government of India under the supervision and control of accounting standards board of ICAI and in consultation with __________.
• Whether financial reviews by management, environment reports and value added financial statements are outside the scope of international financial reporting standards (IFRSs)?
• Which of the following is true about financial statements? I)Financial statement gives a summary of accounts. II) Financial statements can be stated as recorded facts.
• Which of the following statements are true? I) Financial statements are only interim report. II) Financial statements are also known as annual records. III) Financial statements are historic.
• ………is concerned with accounting for amalgamation.
• If the two companies have different accounting policies in respect of the same item, then they make necessary changes to adopt .............. accounting policies.
• If the two companies have different accounting policies in respect of the same item, then they make necessary changes to adopt .............. accounting policies.
• Accounting standards and Standards on Auditing establish standards which have to be complied with to ensure that financial statements are prepared in accordance with ______.
• As per IAS 1, Presentation of financial statement, ______ no of items would constitute complete set of financial statements.
• An entity shall explain how the transition from previous GAAP to IFRSs __________ its reported financial position, financial performance and cash flows.