In addition to disclosing judgments involving estimates and assumptions, ________ requires that companies disclose judgments made when determining appropriate accounting treatments for amounts reported on the financial statements.
A) U.S. GAAP
B) IFRS
C) Both A & B
D) Neither A nor B

Question

Quizplus · Accepted Answer

IFRS requires companies to disclose judgments made in determining the appropriate accounting treatments for amounts reported on the financial statements, in addition to estimates and assumptions.

In Addition to Disclosing Judgments Involving Estimates and Assumptions, ________