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Basic Question 13 of 18
The European community ______
B. agreed to require international accounting standards beginning in 2005.
C. Neither of these statements is true.
A. presently uses U.S. GAAP.
B. agreed to require international accounting standards beginning in 2005.
C. Neither of these statements is true.
User Contributed Comments 3
| User | Comment |
|---|---|
| johntan1979 | Now we have to remember historical dates as well? I didn't remember signing up for a history exam :( |
| HolzGe1 | B is only partly correct. IFRS is mandatory for publicly listed companies only. Private companies may continue using local GAAP in some countries in the EU. |
| forry9er | The European "community" - Can't they just say EU to make it less ambiguous? |
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Edward Liu
Learning Outcome Statements
describe the importance of regulatory filings, financial statement notes and supplementary information, management's commentary, and audit reports
describe information sources that analysts use in financial statement analysis besides annual and interim financial reports
CFA® 2025 Level I Curriculum, Volume 2, Module 1.