Hello:
You are invited to participate in our survey “Interpretation of “in context” verbal probability expression in International Accounting Standards by accounting students in UK”. In this survey, approximately 100 people will be asked to complete a survey that asks questions about International Accounting Standards. It will take approximately 15 minutes to complete the questionnaire.
Your participation in this study is completely voluntary. There are no foreseeable risks associated with this project. However, if you feel uncomfortable answering any questions, you can withdraw from the survey at any point. It is very important for us to learn your opinions.
Your survey responses will be strictly confidential and data from this research will be reported only in the aggregate. Your information will be coded and will remain confidential as required by Data Protection Act 1998. If you have questions at any time about the survey or the procedures, you may contact Safrul Izani Mohd Salleh by email at:
[email protected]
Thank you very much for your time and support. Please start with the survey now by clicking on the Continue button below.
This questionnaire have 2 main sections.
Section A
Please complete the Demographic Profile as required.
Section B
Please read each excerpts and then indicate the level of probability on a scale of 0 percent to 100 percent that best corresponded, in your opinion, to each expression. The expression in italic bold form.
Example: unlikely - 99%
Please indicate the value of probability of 99 representing the expression as your response in the space provided. Please don't insert '%'
Source: International Accounting Standards Bound Volume 2008
1. Your current year of university studies 3. Please answer the following question: 4. Your most interested professional qualification 6. Your citizenship Interpretation of “in context” verbal probability expression in International Accounting Standards by Accounting Students in UK
If you believe that the expression (e.g. unlikely) correspond to a probability of 99%, please indicate this value in the spaces provided. You are not required to include symbol '%'. When it is probable that total (construction) contract costs will exceed total contract revenue, the expected loss should be recognized as an expense immediately. Contingent gains are not recognized in financial statements since this may result in the recognition of revenue which may never be realized. However, when the realization of a gain is virtually certain, then such a gain is not a contingency and recognition of the gain is appropriate. When the outcome of a construction contract can be estimated reliably, contract revenue and contract costs associated with the construction contract should be recognized as revenue and expenses, respectively, by reference to the stage of completion of the contract activity at the balance sheet date (percentage of completion method). In the case of a cost plus contract, the outcome of a construction contract can be estimated reliably when all the following conditions are satisfied:
a) it is probable that the economic benefits associated with the contract will flow to the entity; and
b) the contract costs attributable to the contract, whether or not specifically reimbursable, can be clearly identified and measured reliably. An item of property, plant, and equipment shall be eliminated from the balance sheet on disposal or when the asset is permanently withdrawn from use and no future economic benefits are expected from its disposal. A deferred tax asset shall be recognised for the carryforward of unused tax losses and unused tax credits to the extent that it is probable that future taxable profit will be available against which the unused tax losses and unused tax credits can be utilised. Government grants, including non-monetary grants are fair value, shall not be recognised until there is reasonable assurance that:
a. the entity will comply with the conditions attaching to them; and
b. the grants will be received. Revenue from the sale of goods shall be recognised when it is probable that the economic benefits associated with the transaction will flow to the entity. The cost of an item of property, plant, and equipment shall be recognised as an asset when it is probable that future economic benefits associated with the item will flow to the entity. The carrying amount of a deferred tax asset shall be reviewed at each balance sheet date. An entity shall reduce the carrying amount of a deferred tax asset to the extent that it is no longer probable that sufficient taxable profit will be available to allow the benefit of part or all of that deferred tax asset to be utilised. A venturer shall disclose the aggregate amount of the following contingent liabilities, unless the probability of loss is remote, separately from the amount of other contingent liabilities:
a. any contingent liabilities that the venturer has incurred in relation to its interests in joint ventures and its share in each of the contingent liabilities that have been incurred jointly with other venturers;
b. its share of contingent liabilities of the joint ventures themselves for which it is contingently liable; and
c. those contingent liabilities that arise because the venturer is contingently liable for the liabilities of the other venturers of a joint venture. If you are interested to receive the result of this survey, please enter your email address: |
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