Team 1
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Team 2
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Teams
Name
Score
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15
×
IFRS
International Financial Reporting Standards
Oops!
Check
Okay!
Check
15
×
IAS
International Accounting Standards
Oops!
Check
Okay!
Check
×
lifesaver
Give 25 points!
Oops!
×
seesaw
Swap points!
Okay!
×
fairy
Take points!
5
10
15
20
25
×
banana
Go to last place!
Oops!
15
×
What's standard? Accounts should be produced using the same principles from one year to the next year
The going concern principle
The matching principle
The consistency principle
The prudence principle
Oops!
Show
Check
Okay!
Check
×
heart
Other team wins 10 points!
Oops!
×
magnet
Take 5 points!
Okay!
×
rocket
Go to first place!
Okay!
×
lifesaver
Give 25 points!
Oops!
15
×
The way that most people do something.
Accepted practice
Oops!
Check
Okay!
Check
15
×
What's standard? Items are recorded when the income and expense arises, not depend on movement of cash.
The going concern principle
The consistency principle
The prudence principle
The matching principle
Oops!
Show
Check
Okay!
Check
15
×
A firm that sells its share to anyone who wants to buy them.
Publicly-traded company
Oops!
Check
Okay!
Check
15
×
What's standard? recognizing expenses immediately, and not recognizing income until it is reasonably certain
The prudence principle
The consistency principle
The matching principle
The going concern principle
Oops!
Show
Check
Okay!
Check
15
×
For example, Australia, the U.K, the U.S.A
English-speaking country
Oops!
Check
Okay!
Check
15
×
GAAP
Generally Accepted Accounting Principle
Oops!
Check
Okay!
Check
×
heart
Other team wins 20 points!
Oops!
×
rocket
Go to first place!
Okay!
×
shark
Other team loses 20 points!
Okay!
×
banana
Go to last place!
Oops!
15
×
IASC
International Accounting Standards Committee
Oops!
Check
Okay!
Check
15
×
People or groups who are not involved with the company
Outside parties
Oops!
Check
Okay!
Check
15
×
What's standard? When preparing accounts, one must assume that the company will still be viable in the years to come
The matching principle
The prudence principle
The going concern principle
The consistency principle
Oops!
Show
Check
Okay!
Check
×
heart
Other team wins 15 points!
Oops!
×
rocket
Go to first place!
Okay!
×
rocket
Go to first place!
Okay!
×
banana
Go to last place!
Oops!
×
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