A major difference between ifrs and gaap relates to the revaluation surplus account. retained earnings account. share premium account. share capital account

Question

04-08-2022
Business

Answered

At Westonci.ca, we provide reliable answers to your questions from a community of experts. Start exploring today! Discover comprehensive solutions to your questions from a wide network of experts on our user-friendly platform. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

A major difference between ifrs and gaap relates to the revaluation surplus account. retained earnings account. share premium account. share capital account

Sagot :

Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.

Volunteers are critical to the success of political campaigns and can help double, triple, or even quadruple a candidate’s supporters. true or false

Which sentence does not contain any errors in capitalization? A. The purpose of this Mission is to search for martian life. B. He's like a Villain in a shakespe

The words "later on" are an example of a(n): additive transition adversative transition causal transition sequential transition

Kira is a hemophiliac. This means that she does not produce clotting factors. What aspect of the clotting process should she be worried about not functioning? v

PLEASE HELP!!ANALOGIES IN LATIN Select the best analogy.1. super : sub :: A. extra : exl B. ab : frango C. jungo : cerno D. per : sequor

A flea feeds off the blood of a dog. The flea is able to obtain nutrients from the blood, but the dog can become anemic. What type of relationship is this? A. p

Jim, Carla and Tommy are members of the same family. Carla is 5 years older than Jim. Tommy is 6 years older than Carla. The sum of their three ages is 31 years

What does ce mean in history?

How can your personal values and work values influence your career choice?

Which of the following statements about Guatemala is true? a. Most people in Guatemala are of French ancestry. b. Most people in Guatemala are of Native America

anshumanaryan799 anshumanaryan799 · Answer 1 · 2022-08-10T12:30:46-04:00

A major difference between IFRS and GAAP relates to the A Revaluation Surplus Account.

A revaluation reserve is an equity account that stores changes in the value of fixed assets. If the revalued assets are subsequently disposed of by the company, the remaining revaluation reserve is credited to the company's retained earnings account.

This reserve is only used when the organization prepares its financial statements in accordance with International Financial Reporting Standards. No revaluation reserve is allowed for companies using generally accepted accounting principles.

A revaluation reserve is an equity account that stores changes in the value of fixed assets. If the revalued assets are subsequently disposed of by the company, the remaining revaluation reserve is credited to the company's retained earnings account.

Learn more about Revaluation here: https://brainly.com/question/19908089

#SPJ4

Sagot :

Other Questions