Mixed feelings on the IASB's disclosure and primary statements projects

Multiple-choice questions: In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again

  1. What is the Global Preparers Forum?

  2. How often does the Global Preparers Forum?

  3. What topic was NOT under discussion at the forum?

  4. Which, if any, of the following statements correctly identifies the disclosure problem? Statement 1 -Preparers feel that the volume of disclosures it too onerous, or Statement 2: Investors feel the greatest risk is over-disclosure of information -

  5. What is a 'management performance measure'?

  6. Which of these was not discussed as part of the primary financial statements project?

  7. How should associates be accounted for currently?

  8. Which, if any, of the following statements is correct? Statement 1 - All MPMs must be included separately on the statement of profit or loss, or Statement 2 - All MPMs must be recorded on the statement of financial position

  9. Which of the following is the name of a proposed new category within the statement of financial performance?

  10. Which, if any, of the following statements is correct regarding the proposal regarding the share of profit from associates? Statement 1 - The amounts recorded will be unchanged, or Statement 2 - Integral and non-integral associates can be shown separately