reserved. Who cares about goodwill impairment? | 1 TIME TO ENGAGE On 30 January 2014, the IASB launched the public phase of its post-implementation review of business combinations accounting when it released a Request for Information.1 We believe that a key aspect of the review is the impairment-only accounting model for goodwill, which was introduced in 2004. Comments are due to the IASB by 30 May 2014, so now is the time for all stakeholders to provide their feedback on this emotive topic
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The history and Accounting practices in Australia Development of accounting practices in Australia: The Accounting Practices were firstly recommended and issued by the Institute of Chartered Accountants in Australia (ICAA) in 1946 and these accounting practices were called as “Recommendations of Accounting Principles”. These accounting principles were just barely “copied” from those issued earlier by the Institute of Chartered Accountants of England and Wale (ICAEW). However, these accounting
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Outline Part 1 Background and Overview Part 2 US GAAP and IFRS Part 3 China GAAP and IFRS Part 4 Summary of Convergence Process Part 5 Pros & Cons 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
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Accounting Foundation is to make standards for financial accounting on nongovernmental, and state and local levels all the same. The Financial Accounting Foundation is a private-sector organization. The fourth is Financial Accounting Standards Board or (FASB). The function of the Financial Accounting Standards Board is to make standards for nongovernmental financial accounting and reporting. The fifth is Governmental Accounting Standards Board or (GASB). The function of the Governmental Accounting Standards
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これだけは知っておきたい！ 国際財務報告基準Ｑ＆Ａ KeyWord1 国際会計基準審議会の発足 Q 国際会計基準審議会（IASB）の設立の経緯について教えてください。 A 1．IASC の発足および IOSCO の影響 国際財務報告基準（IFRS）の設定主体である国際会計基準審議会（IASB）は 2001 年から活動 を開始していますが、その活動は、前身の国際会計基準委員会（IASC）より引き継がれたもの です。 IASC の発足は、1973 年に遡ります。IASC は、世界 9 カ国（英・加・米・豪・蘭・西独・仏・墨・日） の職業会計士団体により設立され、日本からは、日本公認会計士協会がメンバーとして参加し ていました。IASC は発足以来、現在の国際財務報告基準の原型となる国際会計基準（IAS）を 作成していました。 1980 年代に入ると、1986 年に結成された証券監督者機構（IOSCO）からの働きかけを受けるな ど、IASC は新たな段階にはいりました。IOSCO は、米国の証券取引委員会（SEC）や日本の大 蔵省（現在は金融庁）など、資本市場の規制当局者により構成されていました。IOSCO
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between IFRS and US GAAP in future will be discussed. There are some drawbacks and ambiguity on the earlier accounting standard to recognize revenue, therefore it is understood that the international accounting standard board (IASB) and Financial Accounting Standard Board (FASB) are currently working on the policy relating to the recognizing revenue from the contracts with customers. They have decided that the ultimate goal of the convergence is a single set of high-quality, international accounting
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in the Financial Crisis. However, transparency of information associated with asset securitizations and derivatives likely was insufficient for investors to assess properly the values and riskiness of bank assets and liabilities. Although the FASB and IASB have taken laudable steps to improve disclosures relating to asset securitizations, in our view, the approach for accounting for securitizations in the IASB’s Exposure Draft that would require banks to recognize whatever assets and liabilities
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the financial reporting rules for the treatment of lease transactions can be significant to the financial statements and the business operations of lessees and lessors alike. The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have undertaken a joint project on leases to improve the financial reporting for lease transactions. The financial reporting standards in the United States currently provide that all lease transactions will be accounted
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Current Liabilities and Contingencies The International Accounting Standards board (IASB) issues the International Financial reporting standards (IFRS) to over one hundred ten countries. The United States is excluded from this group but primarily follows the standards of Financial Accounting Standards Board (FASB) and General Accepted Accounting Principles (GAAP). While both accounting standards have some differences, 2016 will be the year the U.S. will make the switch and unite with the IFRS
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Managing Customers and Time Organisation: Burger King This report discusses managing customers and time. It will evaluate the value of customers for chosen organisation and the focuses on Burger King. Research will examine how target customers influence the company. The main purpose is to research which type of customers has the potential to influence BURGER KING®. This organisation will increase customer value created, and relate to the theoretical concept to give some usefulness information
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