What reading is this from. (Schweser pg. number?) Are international financial reporting standards (IFRS) or U.S. financial reporting standards (U.S. GAAP) more flexible in accounting for tax benefit shortfalls and valuing awards with graded vesting? Tax benefit shortfalls Valuing awards with graded vesting A) U.S. GAAP U.S. GAAP B) U.S. GAAP IFRS C) IFRS U.S. GAAP D) IFRS IFRS
I think the answer is A. I am not using Schweser for studying though and can’t give you a reference.
This comes from the section on stock option accounting.
I have a notecard from SS6 that says GAAP vs IFRS- GAAP is more flexible in accounting for tax benefit shortfalls and valuing awards with graded vesting than IFRS. i really hope we don’t have any GAAP vs IFRS questions on the test. I just thumbed through my FSA notes found one more- GAAP requires recognition of funded status on balance sheet (pensions) IFRS reflects the funded status adjusted for unrecognize items if anyone has any others… fire away- would love to condense differences to just 1 big notecard, memorize, and be done with it.
i think there is a chapter in one of the books…equity section somewhere that summarizes all the differences bannisja…when i get home and find it i’ll try and post it up…