147 Search Results for Accounting GAAP and IFRS
" (Camfferman & Zeff, 2) Indeed, the purpose which seems to stand above many others as specific Standards are examined is the improvement of financial reports as informative documents inbuilt with the capacity to educate users as to the financial Continue Reading...
In other words, with respect to the dilemma between IFRS and U.S. GAAP, the view provided by the article is that recent changes have actually manifested a far more intensive process of oversight in the latter than is proposed by the former.
To the Continue Reading...
.....mission of the Emerging Issues Task Force (EITF) exerts upon the Financial Accounting Standards Board (FASB)
The Emerging Issues Task Force (EITF) was established with the main purpose of addressing and coming up with resolve for current issues Continue Reading...
S. GAAP," 2012). In other circumstances, IFRS requires the combination of two or more transactions when they are linked in a manner that the commercial impact can only be understood through referring to the transactions as a whole.
Customer Loyalty Continue Reading...
Translation Adjustment
Accounting Statement Translation Adjustments for Foreign Subsidiaries
As demonstrated on the attached spreadsheet, when preparing financial statements from a foreign subsidiary of a U.S.-owned company, which will typically co Continue Reading...
Accounting Concepts
Revenue Recognition: Its Relevance and Significance
In the words of Kimmel, Weygandt and Kieso (2008), "the revenue recognition principle requires that companies recognize revenue in the accounting period in which it is earned. Continue Reading...
accounting questions while the rest centers on the characteristics of two certain companies, those being Apple and Philips.
Accounting Questions & Answers
The first accounting question is why revenue recognition is a significant issue. Recogni Continue Reading...
They then proceed to detail their selected sample (76 NYSE firms that reported at least three annual losses in period's 1980-1985 and that reduced cash dividends. They then implemented various conditions to test their hypothesis that it is the troub Continue Reading...
Accounting has been nothing if not a dynamic, global discipline over the last two decades. The role of the accountant has changed dramatically during that time and will continue to do so -- as will the nature of the challenges that the accounting pr Continue Reading...
As, the Delphi methodology will help us to determine the various opinions of the experts. While qualitative research will organize these views and allow us to study different aspects of the problem. This is the point that we will be taking a more ba Continue Reading...
accounting standards in use throughout the world in the next 5 years?
The need for a universal set of accounting standards was recognized years ago, the origins of which can traced back to early twentieth century where practitioners in the U.S. And Continue Reading...
1. How should the $25 Referral Credit be recorded in Runway's income statement?
In accordance to ASC 605-50-45 Revenue Recognition, a cash consideration handed to a consumer by a vendor or retailer is deemed a decrease in the selling prices of t Continue Reading...
How should the $25 Referral Credit be recorded in Runway's income statement?
In accordance to ASC 605-50-45 Revenue Recognition, a cash consideration handed to a consumer by a vendor or retailer is deemed a decrease in the selling prices of the Continue Reading...
OlympusThe Olympus case highlights a number of behavioral, ethical and accounting issues. First, the ethics of the case are crystal clear. The two executives of Olympus went to extensive lengths to commit the fraud. It was carefully planned, with mu Continue Reading...
Accounting
International Accounting and Auditing Standards
International public sector accounting standards (IPSAS) are developed and put forth by the International Public Sector Accounting Standards Board of the International Federation of Account Continue Reading...
Financial Accounting
For Merck, the company is based in the U.S. And uses the U.S. generally accepted accounting principles (GAAP) to compile its financial statements.
Novartis is based in Switzerland, and it uses international financial reporting Continue Reading...
Australian Accounting
The complicated world of finance, business and accounting in today's world justifies the firm's customer base's inquiry into some proposed changes in accounting standards for leases. The purpose of this report is to inform clie Continue Reading...
Segmental Information
In general, IFRS 8 Operating Segments place a requirement on specific classes of entities (particularly those entities that have publicly traded securities) to disclose information concerning their respective operating segments Continue Reading...
International Financial Reporting Standards (IFRS)
Generally Accepted Accounting Principles (U.S. GAAP)
US GAAP is the general accounting principles, standard, and procedures that the U.S. companies follow to prepare their financial statements. GAA Continue Reading...
Some mergers and acquisitions (M&as) did not generate any goodwill because they were accounted for using the pooling-of-interests method. In 1969, Leonard M. Savoie (then Executive Vice President of the AICPA) stated that he expected the then-pr Continue Reading...
Investors will have to adjust and discount IFRS figures, one additional dollar of IFRS profit indicates slightly lesser incremental economic health and, if the underlying assumptions of accounting are accepted, slightly lesser ability to pay down de Continue Reading...
studied appeared a business accounting publications. A partial list publications article selected: The Accounting Review, Barrons, Wall Street Journal, Business Week, Fortune, Barrons, and Wall Street Journal.
GAAP article review:
Crovitz, Gordon Continue Reading...
FASB Impacts
The Financial Accounting Standards Board (FASB) was established with the Sarbanes-Oxley Act of 1933 (SOX) to establish accounting standards for protection of investors and other users of financial statements. Standards implemented by FA Continue Reading...
Assets in the investment portfolio were overvalued. Financial transactions were structured to report smaller amounts of debt and create the appearance of greater cash flow. Financial results were represented in a false and misleading manner.
Forens Continue Reading...
For its part, ethics is an overarching issue that lies in the background. Understanding different ethical issues can help to resolve dilemmas, for example. Also, ethical conduct is something that must be done at all times, not just some of the time Continue Reading...
Apart from this FASB has decided that capitalization of IPR&D will only apply to business combinations. When assets are purchased, and they are not viewed as businesses under GAAP in U.S., would continue to have IPR&D as expenses. One of the Continue Reading...
conception that is laid behind write-down of inventory is that the amount value of the inventory being considered can still appear in the financial statements only if the inventory still has some worth or value. This particular amount value is attai Continue Reading...
International Accounting
The Dupont analysis identifies three key equity value drivers. These are operating efficiency, asset use efficiency, and financial leverage. Operating efficiency is measured by the (net) profit margin, asset use efficiency b Continue Reading...
Dole and Nestle
Generally Accepted Accounting Principles (U.S. GAAP)
When it comes to the preparation as well as presentation of financial statements in the United States, there are a number of accounting procedures and rules used by entities in an Continue Reading...
FASB ASC (360-10-35-21), a long-lived asset that undergoes a change can be tested for recoverability. A decrease in market price could trigger this event. An adverse change could trigger it, and so on. For the case described by Persellin et al. (2014 Continue Reading...
By operating separate trusts for certain benefits, companies operating under GAAP can often greatly reduce their pension liability (Kossov 2010). Pension funds must then be sued only for the payment of retirement benefits (and the earning of interes Continue Reading...
Hedging may be used to reduce risk. The three predominant types of hedging activities are fair value hedges, cash flow hedges, and foreign currency hedges. In this assignment, you will examine how hedging activities are reported.
Download (attached Continue Reading...
For the layperson who is likely to be invested in a stock, a company or a mutual fund, this does reflect a core obstacle to effective decision-making. Indeed, as with many aspects of globalization, the implications of international accounting standa Continue Reading...
1-6 Summary
The accounting convergence project of the FASB and IASB has proceeded slowly, despite a new deadline of 2014 from the SEC. There remain several key issues that are bogging down the conversion process. This dissertation will outline whe Continue Reading...
International Financial Reporting Standards
IFRS and Canada
Canada was one of the first prominent nations involved in the North American Free Trade Agreement to consider switching their financial reporting to the International Financial Reporting S Continue Reading...
Apple and Philips Balance Sheet Analysis
This text examines the balance sheets of both Apple and Philips in greater detail. Amongst other things, the paper will identify a number of differences between IFRS and U.S. GAAP as far as valuation approach Continue Reading...