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Disclosures – Theory Questions

Theory Questions

  1. Can the securities that are classified once be transferred to other category? If so, what precautions should be taken to adjust the unrealized gains or losses?
  2. How is the impairment of securities presented in the balance sheet?
  3. What is the treatment of stock dividend? Can you report this as income?
  4. How are the tax effects on unrealized gains/losses treated in the books of accounts in the securities classified as trading and as available-for-sale?
  5. What are the similarities in U.S. GAAP and IFRS as far as accounting for equity shares is concerned?
  6. What are the differences in U.S. GAAP and IFRS as far as accounting for equity shares is concerned?
  7. Critically examine the disclosure requirements under U.S. GAAP vis-à-vis IFRS.
  8. What are the recent developments in the disclosure requirements under IFRS pursuant to IFRS 7, becoming effective with effect from January 1, 2007?
  9. What is disclosure of cost method investment?
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