Advantages of IFRS
Write down the advantages of IFRS.
Expert
Advantages of IFRSs:
• IFRSs offer more precise, complete and timely financial statement detail information relative to national standards they replace in various countries
• There are reduced costs coming up from being informed in the timely fashion (mainly benefits small investors who, unlike investment analysts, don’t have access to other sources of detailed information).
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he following information is taken from the financial statements of an entity: 20x4 20x3 Property, plant and equipment $4,600,000 $4,200,000 Accumulated depreciation (1,800,000) (1,350,000) Depreciation expense 560,000 Gain on disposal of PPE 65,000 The asset disposed of had a cost
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Rs. Sales 2,40,000 Variable costs 1,44,000 Fixed costs 26,000 Profit before tax 70,000 Rate of tax 40% Firm is proposing to buy the new plant that could generate extra annual profit of Rs. 10,000. The fixed cost of new plant is expected to Rs. 4000. New plant would increase sales volume by Rs. 40,00
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