document of ACC 460 Week 1 DQs consists of: DQ1: Log into charitynavigator.org/. Choose a good charity and a bad charity and explain why you feel they should labeled good or bad. DQ2: What is fund accounting? How does it compare to proprietary accounting? Why is fund accounting necessary? What are the major fund types? DQ3: What are some examples of government and not-for-profit organizations? How do proprietary businesses measure achievement? How do government organizations measure
Words: 351 - Pages: 2
to UK accounting standards Name Institutional Affiliation INTRODUCTION International Financial Reporting Standards (IFRS) are principles based on standards and the interpretations implemented by the Board of International Accounting Standards as the global financial reporting framework. IFRS are guidelines and definitions that require to be applied in the preparation of financial statements by the international companies. Before IFRS was referred to as International Accounting Standards
Words: 3874 - Pages: 16
Exchange Commission (SEC) Chairs and Chief Accountants have expressed support for the development of one set of globally accepted accounting standards. Since the formation of the International Accounting Standards Board (IASB) in 2001, SEC leaders have repeatedly indicated that the logical choice for globally accepted standards is the International Financial Reporting Standards (IFRS) issued by the IASB. However, in line with other large economies, such as Japan, India and China, as of June 2012 the US
Words: 14732 - Pages: 59
The International Financial Reporting Standards are a set of accounting standards developed by the International Accounting Standards Board. They are becoming the global standard for the preparation of public company financial statements (AICPA). The IFRS are currently implemented in ninety countries throughout Europe, Asia, and South America, and in coming years, the United States of America may added to the list. JPMorgan Chase, America’s largest bank, has shown hesitation of implementing the judgment-based
Words: 1275 - Pages: 6
accountant? The chief accountant is responsible for establishing and enforcing accounting and audit policies to ensure reporting is conducted accurately and fairly. The chief accountant also maintains the standards used for accounting to ensure transparency and accuracy. 2 – Financial Accounting Standards Board (source: BYP7-5 Kimmel textbook). The FASB is a U.S. private organization established to improve accounting standards and financial reporting. The FASB conducts extensive
Words: 649 - Pages: 3
changes on the recognition, measurement and disclosure on leasing by the lessor and the lessee stipulated in IASB Exposure Draft 242 with the exclusion of leasing of investment property. The comparison should be discussed in light of the present standard IFRS 117 on Leases. Submission: A hard copy of the assignment must be submitted in the relevant assignment box by the due date. Electronic submission is not permitted. Penalties for late lodgement: A maximum penalty of 10% of the total mark
Words: 647 - Pages: 3
Journal of Accounting and Economics 55 (2013) 66–90 Contents lists available at SciVerse ScienceDirect Journal of Accounting and Economics journal homepage: www.elsevier.com/locate/jae Towards an understanding of the role of standard setters in standard setting$ Abigail Allen, Karthik Ramanna n Harvard Business School, USA a r t i c l e in f o abstract Article history: Received 15 September 2010 Received in revised form 24 May 2012 Accepted 25 May 2012 Available online
Words: 20500 - Pages: 82
SOCIAL AND ENVIRONMENTAL DISCLOSURE A project report submitted in partial fulfillment of the requirements for MBA Project M.B.A. Candidate's Declaration I hereby certify that I have properly checked and verified all the items as prescribed in the checklist and ensure that my thesis/report is in proper format as specified in the guideline for thesis preparation. I also declare that the work containing in this report is my own work. I, understand that plagiarism is defined as anyone or
Words: 2513 - Pages: 11
importance of national standard setting bodies is again emphasised in the recent IFRS Foundation publication where the trustees had sought public comment of their strategy review for the next decade. It is stated in that consultative document that the IFRS Foundation and IASB should encourage the maintenance of a network of national and other accounting standard-setting bodies as an integral part of the global standard-setting process. National and other accounting standard-setting bodies should continue
Words: 666 - Pages: 3
Accounting Principles & General Financial Ethical Standards Mark Bullock Acc/291 11-18-2013 John H Olarte Accounting Principles & General Financial Ethical Standards [pic] “Accounting and financial professionals must abide by ethical standards that regulate what kind of business they conduct, who they serve and how they use their skills. Ethical standards are determined largely by professional accounting and finance organizations and the Financial Accounting
Words: 1003 - Pages: 5
