Over the past decade, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have been working together to form a set of global standards. They are trying to make the International Financial Reporting Standards the globally accepted financial reporting principles. 1. As an international manager or investor, what benefits do you see from the growing adoption of IFRS across countries? Growing the adoption of IFRS across countries will allow for more
Words: 1095 - Pages: 5
Week 1 Financial reporting and its analysis has an important role in the information intermediaries (auditors, press, financial analysts) and financial intermediaries (banks, insurance companies, mutual funds) functioning. Information intermediaries and financial intermediaries use the information from the financial reports to investigate the investment opportunities and find the “good” ones (Palepu, Healy & Peek, 2013). The “lemons” problem explains the problem in identifying the “good” and “bad”
Words: 745 - Pages: 3
Financial Reporting Research In many cases, a business is not successful without a well-organized financial branch of their company. Whether it is a small business and reporting is done by the owner or if it is a large business that has a financial department, a company needs to know if it is making a profit. Modern accounting is believed to have begun around 1494 A.D. Book keeping entered into the Unites States in late 19th century. The first accounting exam was held by and organization in
Words: 1160 - Pages: 5
general importance of the "rules of the game" (property rights and the rule of law) to a well-functioning economy. This week, we focused in more closely on the "rules of the game" regarding corporate governance and financial reporting. The Week 6 topic of fraudulent financial reporting relates to corporate top management that enriches itself and abandons its obligations to shareholders, employees, creditors, government, and the general public. The Agency Problem Economists call this failure of
Words: 3160 - Pages: 13
parts. Firstly, I describe the different users (Stakeholders) of Finance statements and their needs and assess the implications for users of financial statement. Then, I explain the legal and regulatory influences on financial statements preparation like Companies Acts. After that, I describe how different policies are dealt with by accunting and reporting standard including FRS, IASB, SSAP, GAAP and ASB). Furthermore, I calculate accounting ratio consisting of Solvency, Profitability, Capital Gearing
Words: 6334 - Pages: 26
Working Paper 09-108 April 2009 Quality of Financial Reporting: measuring qualitative characteristics Ferdy van Beest Geert Braam Suzanne Boelens Nijmegen Center for Economics (NiCE) Institute for Management Research Radboud University Nijmegen P.O. Box 9108, 6500 HK Nijmegen, The Netherlands http://www.ru.nl/nice/workingpapers 1 Abstract We construct a compound measurement tool to comprehensively assess the quality of financial reporting in terms of the underlying fundamental qualitative
Words: 13269 - Pages: 54
QUEST FOR EXCELLENCE acade Report On: Golden Harvest Agro Industries Ltd. & Bangladesh Steel Re-Rolling Mills Limited Topic: Disclosure of BASs & BFRSs Course Title: Corporate Financial Reporting Course Code: AIS 4303 Submitted To: James Bakul Sarkar Assistant Professor & Deputy Director, BBA Program United International University Submitted By: Name | ID | Section | Fyaz Mahbub Rohan | 114 121 025 | A |
Words: 24914 - Pages: 100
Financial Accounting and Reporting March 2015 Maldives Business School Cover Page ASSIGNMENT BRIEF BTEC HND/Associate Degree in Business (Management/HR/Marketing) The student must fill the relevant parts of the following table. Student Date Student First Name Student Last Name ID Task No. submitted Date issued Mohamed 1 8th March 2015 Statement of authenticity I, the above named student, hereby confirm that this assignment is my own work and not copied or plagiarized. It
Words: 4124 - Pages: 17
FAC3703/101/3/2015 Tutorial letter 101/3/2015 Specific Financial Reporting FAC3703 Semesters 1 and 2 Department of Financial Accounting IMPORTANT INFORMATION: Please activate your myUnisa profile and myLife email address and ensure you have regular access to the myUnisa module site FAC3703 as well as to your group site. Note: This is an online module, and therefore your module is available on myUnisa. CONTENTS Page 1 INTRODUCTION .........................................
Words: 12588 - Pages: 51
Keeping things simple Annual report and financial statements 2010 Contents and introduction ConTenTs The DIreCTors’ reporT AnD busIness reVIeW 1 Highlights 2 Chairman’s statement 4 Strategic review 4 Business review 5 Market overview 6 Our strategy 8 Key Performance Indicators 10 Our business model 12 Risks and uncertainties 14 CSR/Today 16 Our people – Values in action 18 Performance review 18 Operating review 23 Financial review 26 Governance 26 Board of Directors 28 Corporate governance
Words: 57108 - Pages: 229
