Unit 12 Reading Activities Plus Questions

Read the following text and then complete the activities that follow.

International accounting

Mary Pross: It's great to have you on the team John. I'm sure you will enjoy working with us. Have you settled in to the new house yet?

John Sinclair: Thank you, yes we finished unpacking last night.

Mary: Good. Now, I know that you worked in our London office for many years, but you will find a few things different here in the Boston office.

John: Yes, I have been studying the different practices here in the US. I do have a few questions though.

Mary: Of course, what would you like to know?

John: Firstly, I'd like to know when dividends should be recorded? In the UK we show them in the period they relate to.


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Quiz: Reading Questions

1. In the US, dividends are recorded in the period they are declared.
2. Where IFRS laws applies, being accurate is important but accounts can be amended.
3. Comptrollers assist in regulating and overseeing current extraordinary item with no exception.
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