You assumed the role as the Chairperson of the Board of Directors of Daylight Ltd. As you start to write your first directors' report, which one of the following areas are you not required to include in your report?
Which one of these is a key principle of good corporate governance?
Which one of the following shows whether the financial statements of a company show a true and fair presentation of the financial performance of the company?
Which one of the following contributes to an efficient capital market?
The IASB evaluates the merits of adding a potential item to its agenda mainly by reference to the needs of
A statement of comprehensive income reports on
Which of the following statements are correct in the context of accounting concepts and principles?
I)The going concern assumption requires that assets be carried at their cost values.
II)Prudence allows the creation of contingency reserves and more generous provisions.
III)Financial information is considered complete even if it excludes non-material information.
IV)Understandability does not require complex information to be excluded from financial reports.
Which of the following are the stated objectives of the International Accounting Standards Board (IASB)?
I)Enforce accounting standards.
II)Develop accounting standards.
III)Work for convergence of accounting standards.
Generally accepted accounting practice recognises revenue when
Published financial statements are regulated by
