Answer:
E. January 1, 2017
Explanation:
Financial statements are prepared showing at least two years for the sake of comparability.
It will be important for the company in presenting its financial statement using the IFRS for the year ended December 31st 2018 to show the financial statements for the year ended 31st December 2017 as if it had always applied the IFRS.
The basic idea is to show in the financial statements the effects of adopting the IFRS from a preceding period in order for the entity to show the financial statement for 2017 and 2018 and be able to compare them having been prepared on the same basis.
Thus, the transition date will be the beginning of the preceding period when the IFRS was applied (1st Jan. 2017 oe 31st Dec. 2016).
I hope this explanation makes the concept easy to grasp.
Thank you.
This change is called condensation.
Chief operating officers (COO) and chief financial officers (CFO) must verify in writing the accuracy of their corporation's financial statements.
Answer: D)
Here u go this is really helpful I just had this question yw
Answer:
venture capital financing,
Explanation:
To obtain venture capital financing, business founders often have to give up some ownership and control of their business.
