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- Which of the following information should be disclosed in the summary of significant accounting policies? Adequacy of pension plan assets relative to vested benefits. Refinancing of debt subsequent to the balance sheet date. Criteria for determining which investments are treated as cash equivalents. Guarantees of indebtedness of others.Determine the list of the initial financial statements in accordance with IFRS.Explain how earnings per share should be computed and how the information should be disclosed in the corporation's financial statements.
- Explain the following terms. Include the definition, how they are calculated, treated in the accounting records (general ledger) and shown in the financial statements. Pension Expense Other Comprehensive Income (OCI) gain/lossWhat are regulatory accounting principles and how do they relate to enterprise fund accounting?How do I prepare a closing balance sheet for the debt service fund shown below?
- Which of the following accounts are used as income statement-like accounts in investment trust funds, private purpose trust funds, and custodial funds? Assets and liabilities Revenues and expenses Additions and deductions Transfers in and out None of theseBriefly describe how the organization of the FASB Codification corresponds to the elements of financial statements.Is a company’s PBO reported in the balance sheet? Its plan assets? Explain.
- Which of the following is included within the financial statements? A. Board of Directors' ReportB. Internal Auditor's ReportC. Accounting policiesD. Statement of Retained EarningsWhen are financial statements considered authorized for issue?Explain the following terms. Include the definition, how they are calculated, treated in the accounting records (general ledger) and shown in the financial statements. Defined Benefit Obligation Plan Assets Pension Asset/Liability Pension Expense Other Comprehensive Income (OCI) gain/loss
