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中国会计准则全英文
中国会计准则全英文
1
Who issues Chinese accounting standards?
2
Accounting standards are the basic principles that accountants must follow when they are engaged in accounting work
3
What factors will affect the formulation of accounting standards?
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Once accounting standards are formulated, they will not be changed
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Accounting standards must be formulatedby government
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If the capital allocation is mainly indirect finance, financial institutions can obtain more information than other people
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Accounting standards should be formulated by government
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In 1990, the Ministry of Finance issued No 1 Accounting Standards for Business Enterprises
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The process of China accounting standards from exploration to convergence is also a process of continuous reform and open of the China’s economy
10
There are 4 assumptions in IFRS, including business entity, going-concern, time period and monetary unit
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The accounting entity can be either one company or business group organized by several companies
12
The fundamental qualitative characteristics of accounting information are faithful representation and understandability
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We recognize income, expenses or other accounting elements which based on
14
The basic standard of the CAS includes（）?
15
There are 4 assumptions in CAS, including
16
Which of the following is a product cost as it relates to inventory?
17
All the following costs which would not be included in cost of inventories, except for
18
The accounting treatment of inventories are quite similar under CAS 1 and IAS 2 Both standards account for inventory acquisitions at historical cost and evaluate inventory for fair value subsequent to acquisition
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The term ‘net realizable value’ (NRV) refers to the net amount that a company expects to realize from the sale of inventory
20
Under CAS 1, a company should abandon the historical cost principle when the future utility of the inventory item falls below its original cost
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Under CAS 1, if inventory is written down under the lower-of-cost-or-NRV valuation, the new basis is now considered its cost As a result, the inventory may not be written back up to its original cost in a subsequent period
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Both merchandising and manufacturing companies normally have multiple inventory accounts
23
Santo Corporation declares and distributes a cash dividend that is a result of current earnings How will the receipt of those dividends affect the investment account of the investor under each of the following accounting methods?
24
If the parent company owns 90% of the subsidiary companys outstanding common stock, the company should generally account for the income of the subsidiary under the
25
Investment properties may generate cash flows largely independently of other assets which the entity holds
26
Under CAS 3, investment property refer to land-use right that have been leased or land-use right held for sale rather than land
27
Which of the following is not a major characteristic of a plant asset?
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Depreciation is the systematic allocation of the depreciable amount of an asset over the assets useful life
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Assets classified as property, plant, and equipment can be either acquired for use in operations, or acquired for resale
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Costs subsequent to acquisition of property, plant, and equipment should be capitalized when they incurred to achieve greater future benefits
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CAS 6 intangible assets covered the recognition, measurement and disclosure of long term equity instrument
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Which of the following inventories carried by a manufacturer is similar to the merchandise inventory of a retailer?
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CAS1 excludes certain inventories from its scope such as:
34
Under CSA 1, all of the following cost flow assumptions could be applied except for
35
Which of the following could be classified as an investment property?
36
For a manufacturer, fixed assets may include:
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If the fair value model is adopted, investment property shall
38
For income statement purposes, which could depreciation method be used under CAS 4?
39
CAS 3 allows the entity to select cost model or fair value model for subsequent measurement freely
40
If there is conclusive evidence that the fair value of an investment property can be obtained continuously and reliably, a fair value model could be chosen
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Investment property should be recognized as an asset when it is probable that the future economic benefits that are associated with the property will flow to the entity, and the cost of the property can be reliably measured
42
Under both CAS and IFRS, companies should review fixed assets for indicators of impairments on an annual basis
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Under CAS 4, companies can use either the historical cost model or the revaluation model
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If the fair value model is adopted, investment property shall not be depreciated or amortized True or false?
45
Under CAS 4, companies only can use the historical cost model or the revaluation model?
46
Short-term benefits include all of the following except
47
What are employees looking for in an analysis of an entitys financial statements?
48
Post-employment benefits can be of two types: defined contribution plan and（）
49
CAS14 specifies the requirement for the recognition and measurement of revenue and disclosure of related information
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Revenue have nothing to do with the capital invested by the owner
51
Taxation payables or receivables in the future based on （） existed at reporting date
52
A weakness of the historical cost model is that it does not account for changes in the purchasing power of the currency that is used in the financial statements
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Accounting standards are now less likely to require the recording or disclosure of fair value information due to its inherent subjectivity
54
Because of the historical cost principle, fair values may not be disclosed in the statement of financial position
55
Short-term benefits include all of the following except:
56
QPs tax computation shows tax due of $290,000 on taxable profits for the year ended 30 June 20X4 The tax due is payable in four equal instalments, two before the year end of 30 June 20X4 and two after the year end As at 30 June 20X4, QP has paid th
57
At 31 December 20X0, FB recognised a current tax liability of $50,000 This was settled in full on 1 October 20X1 for $59,000 What is the accounting entry required by FB on 1 October 20X1?
58
Which one of the following is NOT an advantage of historical cost accounting?
59
The price that would be received to sell an asset or paid to transfer a liability, in an orderly transaction between market participants at the measurement dateThis is a definition of which measurement basis?
60
Which of the following are the categories of employee benefits?
61
Post-employment benefits can be of two types:defined contribution plan and （）
62
Which one is not a type of biological asset according to CAS 5?
63
Which one of the followings is not the purpose for holding bearer biological assets?
64
Which one of the following statements regarding impairment on biological assets is incorrect?
65
There are two possible measurement of exchanges of non-monetary assets－－fair value or carrying value under CAS 7
66
Companies should recognize immediately any gains or losses on the exchange when the transaction has commercial substance and the fair value of the assets exchanged can be measured reliably
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There is no specific IFRS in accounting for exchanges of non-monetary assets, but we can find similar provisions in IAS 16, IAS 38 and IFRS 15
68
When the future cash flows of the asset received is significantly different from that of the asset given up, in terms of risk, time distribution or amount, a non-monetary asset exchange has a commercial substance
69
Once an asset impairment loss is recognized, it can not be reversed in a subsequent accounting period
70
Asset impairment refers to the asset’s recoverable value is （）(higher/lower) than its book value
71
Share based plan is classified as equity-settled share based payment and cash-settled share based payment
72
The conception of share based payment is broader than employee share options
73
which two of the following accounting treatments regarding debt restructuring is correct?
74
On which of the following dates, the business usually make no accounting treatment?
75
If the debt restructuring is to be carried out with a combination of paying cash, transferring non-cash assets and revising the terms of debt, what is sequence for treatments?
76
Which one of the following accounting treatments regarding biological assets is correct?
77
Which two approaches apply for the subsequent measurement of biological assets?
78
Asset impairment refers to the asset’s recoverable value is （） than its book value
79
There are （） (2/3) possible measurement of exchanges of non-monetary assets－－fair value or carrying value under CAS 7
80
Enterprise should recognize contingent liabilities and contingent assets
81
A contingent asset should be disclosed by note if an inflow of economic benefits is probable
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No disclosure is required for a contingent liability if it is not probable that a transfer of economic benefits to settle it will be required
83
Government subsidies have the following characteristics:
84
Government subsidies are divided into asset-related and cash-related
85
Three events or transactions must be taking place for capitalization of borrowing costs to be started
86
Only borrowing costs that are directly attributable to (the acquisition, construction or production) of a qualifying asset can be capitalized as part of the cost of that asset
87
Which one of the following statements about the presentation currency are true?
88
The functional currency of company A is RMB On December 12, 20x9, company A acquired 500,000 of ordinary shares of company B operated in the USA for $7,500,000 as trading securities The spot rate on Dec 12, 20X9 is $1 to RMB68 On Dec 31, 20X9, the m
89
Which THREE of the following foreign currency balances would be retranslated at the closing rate at the year end?
90
Right-of-use asset should be initially measured at cost, including
91
The lease term refers to the period during which the lease has the right to use the leased assets and is irrevocable
92
For short term lease, the lessee may choose not to recognize the right-of–use asset and lease liability
93
The lessor should divide the lease into financing lease and （） lease on the lease start date
94
The functional currency of company A is RMB On December 12, 20x9, company A acquired 500,000 of ordinary shares of company B operated in the USA for $7,500,000 as trading securities The spot rate on Dec 12, 20X9 is $1 to RMB68 On Dec 31, 20X9, the m
95
Three events or transactions must be taking place for capitalization of
96
Which THREE of the following foreign currency balances would be
97
The lease term refers to the period during which the lease has the right
98
PZG purchased a 2% holding in equity shares in a listed company, FJK PZG’s intention is to hold this investment for the long termHow should this financial asset be initially classified and subsequently measured in accordance with IAS 39 Financial instru
99
GZP purchased a small holding in shares in a listed company, ANG GZP’s intention is to realize this investment within a few months when seasonal fluctuations in its business make a cash shortfall probableHow should this financial asset be initially clas
100
The four categories of financial instruments are (a) Financial assets or liabilities at fair values through profit or loss, (b) Held-to-maturity investments, (c) Loans and receivables, and (d) Available-for-sale financial assets
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