"Financial Report":Financial Reporting Standards
学习是一个不断积累的过程，每天学习一点，每天进步一点！为了帮助大家更高效地备考2021年CFA考试，正保会计网校每日为大家上新CFA习题供大家练习。让网校与您一起高效备考2021年CFA考试，梦想成真！
Questions 1:
Which of the following is least consistent with the goals of accounting standards developed under the joint conceptual framework project of the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB)? Accounting standards should be:
A、 principles based.
B 、developed independently.
C 、internally consistent.
Questions 2:
To evaluate the potential effect of an innovative and unique type of business transaction on financial statements, an analyst’s best approach is to:
A 、monitor the actions of standard setters and regulators.
B 、gain an understanding of the transaction’s economic purpose.
C、 consider the approach taken for “new” transactions that arose in the past.
B is correct. Under the joint conceptual framework project of the IASB and the FASB, accounting standards should be principles based, internally consistent, and converged. The goal of the joint framework is to move away from the independent development of accounting standards.
A is incorrect. Accounting standards should be principles based.
C is incorrect. Accounting standards should be internally consistent.
B is correct. By understanding the economic purpose of a transaction and applying the conceptual framework, an analyst may be able to evaluate the potential effect on financial statements, even in the absence of specific standards.
A is incorrect. Given the lag between new product development and regulatory action, the actions of standard setters and regulators are unlikely to be helpful when the new transactions initially arise.
C is incorrect. New types of transactions have unique elements that distinguish them from the transactions that arose previously. They may or may not affect the financial statements in the same way.
成功=时间+方法，自制力是这个等式的保障。世上无天才，高手都是来自刻苦的练习。而人们经常只看到“牛人”闪耀的成绩，其成绩背后无比寂寞的勤奋。小编相信，每天都在勤奋练习，即使是一点点的进步，大家一定可以成为人人称赞的“牛人”。更多CFA考试资讯，点击了解>
