Indicate which item could be included in compiling IFRS financial statements: Select one: a. Combining debt...

Indicate which item could be included in compiling IFRS financial statements:

Select one:

a. Combining debt and equity characteristics of compound financial instruments, but not netting Bonds Payable and Bonds Issue Costs.

b. Using the Completed Contract method for Construction Accounting, but not combining debt and equity characteristics of compound financial instruments.

c. Both separating debt and equity characteristics of compound financial instruments and netting Bonds Payable and Bond Issue Costs.

d. Neither combining debt and equity characteristics of compound financial instruments nor using the Completed Contract method for Construction Accounting.

Solutions

Expert Solution

answer:Both separating debt and equity characteristics of compound financial instruments and netting Bonds Payable and Bond Issue Costs.

in compiling IFRS based financial statemenst it s prepared on the basis of International Accounting Standards (IAS)

IAS 32 FINANCIAL INSTRUMENTS: PRESENTATION

according to IAS 32, it is to establish principles for presenting financial instruments as liabilities or equity and for offsetting financial assets and liabilities

ekkarill92 answered 1 year ago

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