140 the accounting profession has developed three alternatives for matching expenses 4313921

140 the accounting profession has developed three alternatives for matching expenses 4313921

140.The accounting profession has developed three alternatives for matching expenses: association of cause and effect, systematic and rational allocation, and immediate recognition. Discuss the conceptual merits of each alternative and give two examples for each expense matching alternative.

141.Describe the major differences that still exist between the income statement information presentation requirements under IFRS and GAAP.

142.In the preparation of interim income statements, the expenses are recognized differently depending on whether or not they are directly related to product sales or services.

Required:

Discuss the general treatment of expenses in interim statements when they

a.

are directly related to product sales or services.

b.

arenot directly related to product sales or services.

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