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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.

FINAL TERM

MGT401_Final_Sajda1                                              View     Download
MGT401_Final_Sajda2                                              View     Download
MGT401_Final_All_in_1MCQs_Sajda3                     View     Download
MGT401_Final_Sajda4                                              View     Download
MGT401_Final_Sajda5                                              View     Download
MGT401_Final_Sajda6                                              View     Download
MGT401_Final_Sajda7                                              View     Download
MGT401_Final_Sajda8                                              View     Download
MGT401_Final_Mega_Mcq’s_Sajda9                        View     Download
MGT401_Final_Mega_Sajda10                                 View     Download
MGT401_Final_shortnote_Sajda11                           View     Download

MID TERM

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.

Advantages:

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.

Disadvantages:

Additional disclosures are longer and stricter and as such will require more work and will therefore cost more to produce and audit.

 

1 Comment

  1. AYESHA MUMTAZ

    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.

    Advantages:

    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

    Disadvantages:

    Additional disclosures are longer and stricter and as such will require more work and will therefore cost more to produce and audit.

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