International Financial Reporting Standards 2 Contents 1. Introduction .................................................................................................................................................. 6 International standards and the IASB ............................................................................................................ 6 Financial accounting and reporting in the United States ................................................................................
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The Financial Accounting Standards Board (FASB) The Statement of Financial Accounting Standards (SFAS) R25: Understanding the I/S R26:Understanding the B/S R27: Understanding the C/F R28: Financial Analysis Techniques R29: Inventories R30: Long-Lived Assets R31: Income Taxes R32: Long-Term Liabilities and Leases U.S. GAAP SS9 SS8 Generally Accepted Accounting Principle The International Accounting Standards Board (IASB) The International Accounting Standards (IAS)
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Chapter 07 Foreign Currency Transactions and Hedging Foreign Exchange Risk Multiple Choice Questions 1. According to the World Trade Organization, what was the size of international trade in 2008? A) $7,000,000,000 (7 billion dollars) B) $70,000,000,000 (70 billion dollars) C) $37,000,000,000 (37 billion dollars) D) $16,000,000,000,000 (16 trillion dollars) Answer: D Level: Easy LO: 1 2. In the years between 1990 and
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GLOBAL AVIATION GROUP 2013 Airline Disclosures Handbook Financial reporting and management trends in the global aviation industry kpmg.com KPMG’s Global Aviation practice KPMG is a global network of professional firms providing Audit, Tax and Advisory services. We operate in 156 countries and have 152,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity
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IFRS: FASB and IASB Fair value measurements provide users of financial statements with an accurate picture of the value of a company’s assets. Both IFRS and GAAP require firms to include information regarding fair value measurement practices in the notes of financial statements. Under either system, companies will be required to report assets at either book value or fair value, depending on the situation. As a general rule of thumb, all assets in the same class must receive the same valuation treatment
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Chapter 8 Menganalisis Kinerja dan Posisi Kompetitif Memahami masa lalu perusahaan adalah penting untuk peramalan masa depan . Untuk itu Alasannya , komponen penting dari penilaian adalah analisis yang kuat dari sejarah prestasi. Selalu mulai dengan pendorong utama nilai : pengembalian investasi modal (ROIC ) dan pertumbuhan pendapatan . Memeriksa tren dalam panjang perusahaan menjalankan kinerja dan kinerja relatif dengan yang sejenis , sehingga Anda dapat mendasarkan perkiraan
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CHAPTER 5 Revenue Recognition after Delivery * Assumes we are able to make reasonable estimates of amounts due from customers that potentially might be uncollectible. * For product sales this also includes amounts not collectible due to customers returning the products they purchased. Installment Sales * Increasing the length of time allowed for payment usually increases the uncertainty about whether the store actually will collect a receivable * The increased uncertainty concerning
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whether one method is better than the other, as well as whether any part of R&D should be capitalized. Case 2 (prepared by Peter Secord, Saint Mary’s University) In this real life case, students are asked to discuss the merits of historical costs vs. replacement costs. Actual note disclosure from a company’s financial statements is provided as background material. Case 3 (adapted from a case prepared by Peter Secord, Saint Mary’s University) A Canadian company prepares two sets of financial
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Assignment #2: First Steps Educational Program 08/15/2013 Financial Accounting Professor: Dr. Wendy Achilles Abstract First Steps Educational Program is a program that will incorporate traditional educational methods and Montessori methods. The program will educate students from the age of 2 – 17 years old. Teachers will identify their learning styles early in the program and will create a program that best fits their
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CHAPTER 15 LEASES Overview In the previous chapter, we saw how companies account for their long-term debt. The focus of that discussion was bonds and notes. In this chapter we continue our discussion of debt, but we now turn our attention to liabilities arising in connection with leases. Leases that produce such debtor/creditor relationships are referred to as capital leases by the lessee and as either direct financing or sales-type leases by the lessor. We also will see that some leases
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