Cfas ( PAS 1)

23問 • 11ヶ月前

問題一覧

It prescribes the basis for the presentation of general purpose financial statements, the guidelines for their structures and the minimum requirement for their content and ensure comparability

PAS 1

PAS 1 requires an assessment of the entity's ability to continue as a going concem each time financial statements are prepared. Who is responsible in making this assessment?

management

These are the end product of the financial reporting process and the means by which information gathered and processed is periodically communicated to users.

financial statements

Which of the following is not one of the general features of financial statements under PAS 1?

cash basis

This type of presentation of statement of financial position does not show distinctions between current and noncurrent items. a. Classified presentation

unclassified presentation

What is the basis for presentation of general purpose financial statements according to PAS 1?

fair presentation and compliance in pfrs

When should an entity present an additional statement of financial position according to PAS 1?

both a and b

According to PAS 1, what is the responsibility of management over financial statements?

The preparation and fair presentation of FS in accordance with PFRSs

How should a statement of financial position be presented according to PAS 1?

Classified showing distinctions between current and noncurrent assets and liabilities

How are deferred tax assets and liabilities presented in a classified statement of financial position according to PAS 1?

Deferred tax assets and liabilities both as noncurrent items

Which items are not included in determining the profit or loss for the period?

Other comprehensive income

How are expenses classified in the nature of expense method?

According to their nature

Where are retrospective adjustments and retrospective restatements presented?

Statement of Changes in Equity

The objective of PAS 1 is

a. to ensure comparability by prescribing the basisforpresentation of general purposefinancial statements.

2. Entity A's financial statements in the current period is comparable with Entity A's financial statements in the previous period. This type of comparability is called

b. Intra comparability

The scope of PAS 1 is

the preparation and presentation of general purposefinancial statements

The statement of financial posiis also called?

balance sheet

When preparing financial statements, PAS 1 requires management to assess the entity's ability to continue as a going concern. The assessment covers a minimum period or

at least one year from the end of the reporting period

Which of the following is not considered an appropriate application of offsetting under PAS 1

Deducting accumulated depreciation from the equipment account and presenting only the carrying amount

PAS 1 requires an entity to provide anadditional balancesheet dated as of the beginning of the preceding period if certain instances occur. Which of the following is not one of those instances? (Assume all of the following has a material effect)

Change in the frequency of reporting

Which of the following best reflects the definition of normal operating cycle under PAS 1

For a manufacturing entity, this the usual time it takes for the entity to acquire raw materials, process those rawmaterials into finished goods, and sell the finished goods

Which of the following statements is incorrect regarding the provisions of PAS 1?

Presenting comprehernsive income as a note disclosure only is prohibited

Entity A reclassifies a gain that was previously recognized in other comprehensive income tothe current period's profit or loss. According toPAS 1, how should Entity A present thereclassification adjustment in the othercomprehensive income section of the statementof comprehensive income

as a deduction

Cfas (overview of accounting)

ユーザ名非公開 · 75問 · 11ヶ月前

Cfas (overview of accounting)