VY Correct 5/5 Points 1, The purpose of the Conceptual Framework is: To assist the International Accounting Standards Board to develop IFRS Standards To assist preparers of IFRS financial statements to develop consistent accounting policies when no IFRS Standard applies to a Particular0020transaction or other event, or when a Standard allows a choice of accounting policy To assist all parties to understand and interpret IFRS Standards @ Allofthe above YW VY Correct 5/5 Points 2. The Conceptual Framework can override requirements in a Standard. True False YY Correct 10/10 Points 3. When developing requirements for IFRS Standards, can the International Accounting Standards Board depart from the Conceptual Framework? No v Yes, the Board is not required to use the Conceptual Framework when developing Standards Yes, but only from aspects of the Conceptual Framework and only if doing so is needed to meet the objective of financial reporting None of the above Y Correct 5/5 Points 4, If an IFRS Standard sets out requirements that are inconsistent with the Conceptual Framework, preparers have to apply the Conceptual Framework for affected transactions Tue VY False5. The objective of general purpose financial reporting as described in the Conceptual Framework is to a Provide information to regulators Support the entity's tax return Meet the information needs of an entity's stakeholders Provide financial information about the reporting entity that is useful to existing and potential investors, lenders and other creditors in making = decisions relating to providing resources to the entity 6. The fundamental qualitative characteristics of useful financial information are: Comparability and relevance Relevance and reliability Relevance, reliability and comparability Relevance and faithful representation 7.The Conceptual Framework defines an asset as: A resource controlled by the entity as a result of past events and from = Which future economic benefits are expected to flow to the entity A present economic resource controlled by the entity as a result of past events A right to receive income or reduce expenses in the future None of the above 8. Recognition is the process of: [[} Capturing, for inclusion in the statement of financial position or the statement(s) of financial performance, an item that meets the definition of one of the elements of the financial statements—an asset, a liability, equity, income or expenses Determining where an item should be presented in the financial statements Sorting assets, liabilities, equity, income or expenses on the basis of shared characteristics Adding together of assets, liabilities, equity, income or expenses that have shared characteristic9, What does the Conceptual Framework state about derecognition? [} For an asset, derecognition normally occurs when the entity loses control of all part of the recognised asset For a liability, derecognition normally occurs when the entity no longer has a present obligation for all or part of the recognised liability Detecognition is the removal of all or part of a recognised asset or liability from an entity's statement of financial position Allof the above 10. Income and expenses included in other comprehensive income: Are never reclassified (recycled) from other comprehensive income into the statement of profit or loss Are recycled into the statement of profit or loss if the International ‘Accounting Standards Board decides that doing so results in the statement of profit or loss providing more relevant information, or v providing a more faithful representation of the entity's financial performance for that period Are always recycled into the statement of profit or loss at the end of the holding period of the related asset or liability Allof the above 11. Manakah yang merupakan asumsi dalam kerangka konseptual PSAK ? Substansi mengungguli bentuk Akrual Relevansi Unit Moneter 112. Entitas mendepresiasikan aset tetap yang dimiliki dengan estimasi masa manfaat 10 tahun, sehingga beban depresiasi akan diakui selama 10 tahun penggunaan aset. Asumsi dasar apa yang mendasari kebijakan akuntansi tersebut ? a Monetary unit periodicity Going concern Entitas ekonomi13. Entitas mengklasifikasikan suatu sewa yang memenuhi kriteria sebagai sewa pembiayaan. Pihak penyewa akan mendepresiasikan aset tersebut sepanjang masa sewa. Karakteristik kualitatif apa yang mendasari perlakuan akuntansi tersebut ? a Substance over form = Going concern Reliability Relevance 14, Entitas mengakui pembelian kalkultor seharga 500 ribu sebagai biaya administrasi walpuan kalkulator tersebut memiliki manfaat lebih dari satu tahun. Pertimbangan apa yang mendasari perlakuan akuntansi tersebut 7 Materiality Going concern Reliability Relevance 15. Entitas pada saat menyusun laporan keuangan konsolidasi melakukan eliminasi transaksi yang terjadi antara anak dan induk perusahaan. Asumsi apa yang mendasari perlakuan akuntansi tersebut ? a Akrual Periodicity Going concern Entity 16. Manakah pernyataan berikut yang tepat? IFRS menggunakan nilai wajar dalam semua penilaian aset dan liabilitasnya Dalam US GAAP tidak ada penilaian aset yang menggunakan nilai wajar IFRS lebih banyak menggunakan penilaian dengan nilai wajar iv dibandingkan US GAAP Dalam IFRS penilaian dengan menggunakan nila histori tidak diperkenankan17. Manakah pernyataan berikut yang tepat? [[} Konseptual framework merupakan standar akuntansi. Konseptual framework digunakan jika ada transaksi yang belum ada y standamnya Konseptual framework digunakan sebagai dasar dalam mengakui suatu transaksi Konseptual framework sebagai dasar standar memiliki kekuatan hukum lebih tinggi dibandingkan PSAK. 18. Konsep yang menjadi dasar dalam kerangka dasar penyajian dan pengungkapan laporan keuangan adalah... a @® Kegunaan dalam pengambilan keputusan (decision usefulness) ) Kemudahan informasi untuk dipahami (understandability) Keandalan informasi (reliability) ) Keterbandingan informasi (comparability)