MGT401 – Financial Accounting II
In MGT401 Financial Accounting II we have you covered with Digitized Past Papers From Fall of Mid Term and Final Term.
MGT401_Final_Sajda1 View Download
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MGT401_Final_All_in_1MCQs_Sajda3 View Download
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MGT401_Final_Mega_Mcq’s_Sajda9 View Download
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MGT401_Final_shortnote_Sajda11 View Download
POSTED DATE:06-02-2019 GDB SOLUTION
The International Financial Reporting Standard has many advantages but have some disadvantages also. Some small entities have good accounting system but forced to incur the cost to change the new accounting system. Local rules and regulation and tax laws of the each country is different. In some cases, entities may require to prepare different
financial statements for local laws and tax departments.
Accounts that are prepared under IFRS have a set structure that makes them easily readable and comparable with prior years and other companies. Additional disclosures increase the transparency of the accounting judgments made which benefits the shareholders.
Additional disclosures are longer and stricter and as such will require more work and will therefore cost more to produce and audit.