Under the New Differential Reporting Regime,Tier 2 Entities Will Be

question 46

Multiple Choice

Under the new differential reporting regime,Tier 2 entities will be able to apply a reduced disclosure version of the AASB standards,known as the Reduced Disclosure Requirements.The reduction in requirements for disclosing entities that are not publicly accountable would include which of the following?

• A)disclosures relating to the usage of financial instruments
• B)disclosures relating to income tax
• C)disclosures relating to financial statement presentation
• D)all of the options would apply to entities that are not publically accountable

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Definitions:

Australian Accounting Standards

Financial reporting regulations in Australia designed to ensure transparency and consistency across financial documents.

Management Accounting Information

Financial data and reports that are used by internal management for decision-making, planning, and control purposes.

Internal Management

Refers to the administrative practices, policies, and procedures implemented within a company to ensure its smooth operation and achievement of goals.

Institutional Theory

A theory that examines the extent to which companies can become successful by conforming to the norms and rules of their environmental context.