harmonization does not come without certain impediments in which lead to the hindrance to the harmonization process. In support to the statement above, it was noted by Nobes and Parker (2010) that among the obstacles to harmonization were, the size of the present differences between the accounting practices of different countries, the main or predominant purposes of financial reporting which are varies in between countries, the lack of international regulatory agency, nationalism and the effect of economic
Words: 1630 - Pages: 7
Defined Terms Principles for Periodic Disclosure by Listed Entities A. Periodic reports should contain relevant information B. For those periodic reports in which financial statements are included, and should state that the financial information provided in the report is fairly presented. C. The issuer’s internal control over financial reporting should be assessed or reviewed. D. Information should be available to the public on a timely basis E. Periodic reports should be filed with the relevant
Words: 11765 - Pages: 48
Deloitte Trueblood cases (www.deloitte.com/more/DTF/cases_subj.htm), as well as the AICPA cases (www.aicpa.org). Topical Index of Student Cases INTERMEDIATE ACCOUNTING Case 1: Reporting acquisition and repayment transactions in the Statement of Cash Flows Case 2: Recording a forfeited payment Case 3: Revenue and expense recognition associated extended warranties Case 4: Accounting for “due on demand” note payable Case 5: Purchase of a controlling interest with a greenmail
Words: 5765 - Pages: 24
likely to enhance the comparability of financial statements of listed companies in Europe and Australia. Accounting standards around the world were immensely diverse. Each country had different accounting standards and methods of calculation within their country. Over time many listed companies and corporations have become international and have spread globally. Individual standards caused a large number of rework and comparison issues in order to prepare financial reports to be in accordance with
Words: 1149 - Pages: 5
FINANCIAL STATEMENT ANALYSIS OF APPLE INC. INTERMAITE ACCOUNTING 312 PROFESSOR BRODERICK MARTINEZ BY: MURTAZA MOIZ TABLE OF CONTENT Cover Page Pg. 1 Table of Contents Pg. 2 Introduction Pg. 3 History
Words: 4067 - Pages: 17
of Convergence Part 6 The reasons for differences in accounting practice ww.ifrs.org + The International Accounting Standards Board + The International Accounting Standards Committee (IASC) Foundation + Objective – a single set of global financial reporting standards + Aim – convergence between national standards and international standards + IFRS Framework + IFRS SMEs + Supported by the Group of 20 Leaders (G20) who, at their September 2009 meeting in Pittsburgh, US. Country
Words: 1833 - Pages: 8
Knowledge Checks: Multiple Choice Questions and Solutions FINANCIAL REPORTING Version 15b KNOWLEDGE CHECKS: MULTIPLE CHOICE QUESTIONS AND SOLUTIONS | i Contents Questions 1 Module 1 Question 1.1 Question 1.2 Question 1.3 Question 1.4 Question 1.5 Question 1.6 Question 1.7 Question 1.8 Question 1.9 Question 1.10 Question 1.11 Question 1.12 Question 1.13 Question 1.14 Question 1.15 Question 1.16 Question 1.17 Module 2 Question 2.1 Question 2.2 Question 2
Words: 49271 - Pages: 198
Financial Statement Review Financial statements serve a pivotal role in determining the condition of any business organization for it provides suppliers, creditors, and stakeholders significant information on the business organization’s position in the business industry. In the week 1 assignment of the course Accounting 561, the student’s task is to present financial information on a particular American corporation after obtaining financial statements such as income statement, statement of stockholders
Words: 302 - Pages: 2
Name____Morenike Onibon___________________________ Individual Learning 55 Question Form General Information ORACLE CORPORATION’S 2014 FINANCIAL STATEMENT WAS UNAVAILABLE AT THE TIME I WORKED ON THIS PROJECT: I THUS USED THE 2013-2012 FINANCIAL STATEMENT. 1. What is the name of your corporation? The name of my corporation is Oracle Corporation. 2. Where are the corporate headquarters? The headquarters of Oracle is in Redwood City California. 3. What is the corporation’s fiscal
Words: 2308 - Pages: 10
RUNNING HEAD: FINANCIAL STATEMENTS PAPER PART I Financial Statement Part I Paper Sonya Spencer – King University of Phoenix September 20, 2010 Introduction to Financial Statements The intention of this paper is to explain the essential structure of a financial statement and its sole purpose. While identifying the viewers, purpose and nature of the financial statements, stockholders and investors can make logical decisions that
Words: 1102 - Pages: 5
