Podcast
Questions and Answers
Which standard specifically addresses the impairment of assets?
Which standard specifically addresses the impairment of assets?
- IAS 21 – The Effects of Changes in Foreign Exchange Rate
- IAS 36 – Impairment of Assets (correct)
- IFRS 16 – Lease
- IAS 38 - Intangible Assets
Which standard focuses on the accounting for borrowing costs?
Which standard focuses on the accounting for borrowing costs?
- IAS 10 – Events After the Reporting Period
- IAS 2 – Inventory
- IFRS 15 – Revenue from Contracts with Customers
- IAS 23 – Borrowing Cost (correct)
Which standard deals with the accounting for property, plant, and equipment?
Which standard deals with the accounting for property, plant, and equipment?
- IFRS 5 - Non-Current Assets Held for Sale & Discontinued Operations
- IAS 16 - Property, Plant & Equipment (correct)
- IAS 40 - Investment Property
- IAS 38 - Intangible Assets
Which standard is related to the accounting for agriculture?
Which standard is related to the accounting for agriculture?
Which standard deals with the recognition and measurement of revenue from contracts with customers?
Which standard deals with the recognition and measurement of revenue from contracts with customers?
Study Notes
IAS/IFRS Standards
- IAS 36 specifically addresses the impairment of assets.
- IAS 23 focuses on the accounting for borrowing costs.
- IAS 16 deals with the accounting for property, plant, and equipment.
- IAS 41 is related to the accounting for agriculture.
- IFRS 15 deals with the recognition and measurement of revenue from contracts with customers.
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Description
Test your knowledge of International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) with this quiz covering topics such as property, plant & equipment, intangible assets, impairment of assets, borrowing cost, investment property, and more.
