body. With the growing conscious recognition of the importance of financial data in the ordering of everyday business and economic life, the need of basic economic facts is providing a constantly enlarging opportunity for the accounting profession. The auditors' reports have an especial capacity to fulfill the need for reliable and authoritative financial material not only because of the reputation or prestige of the certified statements, but also because of the significance generally attached by the
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C H A P T E R 2 CONCEPTUAL FRAMEWORK FOR FINANCIAL REPORTING LEARNING OBJECTIVES After studying this chapter, you should be able to: •1 •2 •3 •4 Describe the usefulness of a conceptual framework. Describe efforts to construct a conceptual framework. Understand the objective of financial reporting. Identify the qualitative characteristics of accounting information. Define the basic elements of financial statements. •6 •7 Describe the basic assumptions of accounting. Explain the
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INTRODUCTION TO ASSURANCE AND FINANCIAL STATEMENT AUDITING Answers to Review Questions 1-1 The study of auditing is more conceptual in nature compared to other accounting courses. Rather than focusing on learning the rules, techniques, and computations required to prepare financial statements, auditing emphasizes learning a framework of analytical and logical skills to evaluate the relevance and reliability of the systems and processes responsible for financial information, as well as the information
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CHAPTER 2 CONCEPTUAL FRAMEWORK UNDERLYING FINANCIAL ACCOUNTING Show Me the Earnings! The growth of new-economy business on the Internet has led to the development of new measures of performance. When Priceline.com splashed onto the dot-com scene, it touted steady growth in a measure called “unique offers by users” to explain its heady stock price. To draw investors to its stock, Drugstore.com focused on the number of “unique customers” at its website. After all, new businesses call for new performance
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complex means in order to do so (Gleeson-White 11). This drive to more complex recording techniques led to writing, a numeric system, the spread of arithmetic, and created a standard system in an effort to ease international trade. The scope of this paper will focus on the realization of double-entry bookkeeping, a major branch of accounting. Double-entry bookkeeping (DEB) is defined as an accounting system that recognizes both sides of a transaction using equal amounts of debits and credits. Unlike
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(2014),"IFRS and convergence in China and the USA", Journal of Technology Management in China, Vol. 9 Iss 1 pp. 56-66 http://dx.doi.org/10.1108/JTMC-12-2013-0042 Ronita D. Singh, Susan Newberry, (2008),"Corporate governance and International Financial Reporting Standard (IFRS): The case of developing countries", Research in Accounting in Emerging Economies, Vol. 8 pp. 483-518 Access to this document was granted through an Emerald subscription provided by emerald-srm:313615 [] For Authors
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1. Engage in business activities and earn revenues and incur expenses. 2. Operating results are regularly reviewed by the chief operating decision-maker to assess performance and make resource allocation decisions. 3. Discrete financial information is available from the internal reporting system. C. Once operating segments have been identified, three quantitative threshold tests are then applied to identify segments of sufficient size to warrant separate disclosure. Any segment
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22 August 2012 For Announcement to the Market Name of Companies: BHP Billiton Limited (ABN 49 004 028 077) and BHP Billiton Plc (Registration No. 3196209) Report for the year ended 30 June 2012 This statement includes the consolidated results of the BHP Billiton Group, comprising BHP Billiton Limited and BHP Billiton Plc, for the year ended 30 June 2012 compared with the year ended 30 June 2011. The results are prepared in accordance with IFRS and are presented in US dollars. US$ Million 72
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Syllabus MGT 496 Strategic Management and Policy, Spring 2016 Instructor: | Dr. Jim Sundali | Office: | 401D Business Administration | Class: | MW 1:00 & 4:00 in AB 102 | Office Hours: | MW 11:00-12:45 | Phone: | 775-682-9176 | E-mail: | jsundali@unr.edu (best way) | Web Site: | http://www.business.unr.edu/sundali/ | WebCampus: | http://wcl.unr.edu | Catalog Description Emphasis on the application of knowledge from all functional areas of business to organizational
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challenges for central banks 4 Business integrity: A foundation for rebuilding reputation 16 The battleground for consumer banking 24 India: From sleeping tiger to stirring elephant 30 IFRS: Is your financial reporting sustainable? 42 Shari’a compliant financial services – standing its ground 48 Editor’s comments 2 by Phil Rivett the journal • Tackling the key issues in banking and capital markets Phil Rivett Global Leader, Banking & Capital Markets, UK
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