How Fair Value Measurement Changes Risk Management Behavior in the Insurance Industry JANUARY 2013 SPONSORED BY Financial Reporting Section Society of Actuaries PREPARED BY Bruce B. Rosner, FSA, MAAA Ernst & Young LLP Mark J. Freedman, FSA, MAAA Ernst & Young LLP The opinions expressed and conclusions reached by the authors are their own and do not represent any official position or opinion of the Society of Actuaries or its members. The Society of Actuaries makes no representation or warranty
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INTERNATIONAL ACCOUNTING FRAUD I INTRODUCTION II HISTORY OF ACCOUNTING PROFESSION AND FRAUD ENVIRONMENT A- Birth of profession B- Lack of accounting STANDARDS III EVIDENCES A- External audit B- Bankruptcy IV MOTIVATIONS OF FRAUD A- Personal initiatives B- Market expectations C- Special circumstances D- Cover-up fraud V METHODS TO REDRESS THE FRAUD A- Court case B- Provisory administration VI CONCLUSION Summary In the book Creative Accounting
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international GAAP. They include all of the following except the (Points: 4) EU (European Union) SEC (Securities and Exchange Commission) FASB (Financial Accounting Standards Board) IASB (International; Accounting Standards Board) 2. The purposes of the joint long-term project of the FASB and IASB to converge revenue recognition principles include all of the following except (Points: 4) eliminate inconsistencies in conceptual guidance on revenues replace principle-based accounting with rule-based
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Accounting Standards Boards Carmen Morales ACC 541 Nov-12, 2012 Sonia Quintero Accounting Standards Boards The society has to follow all kind of laws, regulations, rules, or standards established by legal authorities. In accounting environment is not the exception. Two types of accounting standards boards are the ones that regulate accounting standards: the Financial Accounting Standard Board (FASB) and International Accounting Standard Board (IASB). These two boards will help us to ensure
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on the accounting standards set forth throughout the world in the global economy. The United States follows the Financial Accounting Standards Board (FASB) which has created a large number of accounting standards that are interpreted and accepted by international companies and by the International Accounting Board (IASB). The IASB plays a similar role like the FASB for the rest of the global economy. The IASB is located in London, England and is an independent, privately funded accounting standard-setter
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........................................................................................................................................... 6 Major Accounting Policies of the Industry ................................................................................................................................................... 10 Impact of IFRS ....................................................................................................................................................
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AC504: Ethical Issues in Business and Accounting Assignment #6 for Professor Gates By Nicholas Gainsbrugh Overview of the Australian Accounting Standards Board and Harmonization with IFRS Nicholas Gainsbrugh Unit 6 Assignment for Prof. Gates Assignment: An Overview of the Australian Accounting Standards Board and Harmonization with IFRS Abstract: The accounting profession in Australia is thriving. The number of accountants employed at the professional level has risen strongly over the
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1 Egypt’s Accounting Standards (EAS) against IFRS: The Reason behind Compliance and The Main Differences. Ahmed Mostafa Eliwa German University in Cairo Supervised By: Prof: Dr. Ehab K. A. Mohamed 2 Chapter 1: IFRS Historical Background 1.1 Introduction The purpose of this chapter is to gather information about the history of the international financial and reporting standards (IFRS), the committee that issued them, and what the reasons behind issuing such standards are to be agreed and
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Deloitte United States Services Audit & Enterprise Risk Services Consulting Financial Advisory Services Tax Deloitte Growth Enterprise Services Featured Services Industries 2014 Industry Outlook Aerospace & Defense Automotive Banking & Securities Consumer Products Federal Government Health Care Providers Health Plans Insurance Investment Management Life Sciences Media & Entertainment Oil & Gas Power & Utilities Process & Industrial Products Real Estate Retail & Distribution
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Chapter 1 Introduction Discussion Questions 1. In the domestic case, accounting is an information service that provides financial information about a domestic entity to domestic users of that information. International accounting is distinctive in that the entity being reported on is either a multinational company with operations and transactions that transcend national boundaries or involves an entity with reporting obligations to readers who are located outside the reporting entity’s country
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