PwC Similarities and Differences A Comparison of IFRS, US GAAP and Indian GAAP* *connectedthinking November 2007 PricewaterhouseCoopers’ publications and tools PricewaterhouseCoopers has a range of tools and publications to help companies apply IFRS (see also the inside back cover). Illustrat ive Consolidated Fin ancial Statements • Corporate, 2007 • Banking, 2006 • Insurance, 2006 • Investment funds, 2006 • Investment property, 2006 Realistic sets of financial statements
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type of audit that determines whether the audited is following specific procedures, rules or regulations set by some higher authority. Audit manual: Resources or guidance used by auditor to conduct an audit. Teeming and lading: It is a type of fraud that involves the crediting of one account through the abstraction of money from another account. An attempt to hide missing funds by delaying the recording of cash receipts in a business's books. Continuous audit: An auditing process that examines
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the equation (liabilities and stockholders' equity) are increased by credits and decreased by debits. A permanent account is an account whose balance at the end of the accounting period is carried forward into the next accounting period. Examples: Cash, Accounts Payable, Capital Stock. A temporary account is an account that is used temporarily to determine the change in retained earnings that occurred during the accounting period. The balance in a temporary account is closed out at the end of the
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FINS1613 Business Finance Semester 2 – 2009 Version 1.0.0 12th October 2009 Contents Page 3 Page 7 Page 10 Page 14 Page 18 Page 23 Page 26 Page 29 Page 32 Page 38 Page 42 Basic Concepts Introduction to Financial Mathematics The Valuation of a Firm’s Securities Capital Budgeting Capital Budgeting Applications – Part 1 Capital Budgeting Applications – Part 2 Risk and Return The Capital Asset Pricing Model Cost of Capital and Raising Capital Capital Structure Dividend Policy Note: This course
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Real Estate Investment analysis Real Estate has evolved as the most profitable business over the years for those who can invest heavily in land or property and wait for their increase in value. However, the property may fetch instant cash in exceptional times like the sudden increase in value due to market reasons such as experienced just before the global financial credit crunch or due to the property’s unique location. This is classified under the short term type of real estate investment
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accounting for temporary differences arising due to above. Definitions Accounting Profit is profit or loss for a period before deducting tax expense. Taxable Profit (or tax loss) is profit (or loss) for a period, determined in accordance with the rules established by the taxation authorities, upon which it will be determined whether income taxes are payable (or recoverable). Tax Expense (or tax income) is the aggregate amount included in the determination of profit or loss for the period in respect
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RBI/2011-12/530 DBOD.No.BP.BC.98 /21.06.201/2011-12 May 2, 2012 The Chairman and Managing Directors/ Chief Executives Officers of All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Madam / Dear Sir, Guidelines on Implementation of Basel III Capital Regulations in India Please refer to the paragraph 90 (extract enclosed) of the Monetary Policy Statement 2012-13 announced on April 17, 2012. It was indicated that the final guidelines on the implementation of Basel
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foreign currency exchange rates. 1.4 What is political risk? Political risk is the risk that a sovereign host government will unexpectedly change the rules of the game under which businesses operate. 1.5 In what ways do cultural differences impact the conduct of international business? Because they define the rules of the game, national business and popular cultures impact each of the functional disciplines of business from research and development right through to marketing
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about the past and present that is useful in predicting future financial performance and condition. The three most frequently encountered and most widely used financial statements are the Balance Sheet, the Income Statement, and the Statement of Cash Flows. These three generalpurpose financial statements are intended to provide information to shareholders, creditors, and other stakeholders about the financial position, operating results, and investing/financing activities of an organization. Financial
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Chapter 01 - Financial Statements and Business Decisions Chapter 01 Financial Statements and Business Decisions ANSWERS TO QUESTIONS 1. Accounting is a system that collects and processes (analyzes, measures, and records) financial information about an organization and reports that information to decision makers. 2. Financial accounting involves preparation of the four basic financial statements and related disclosures for external decision makers. Managerial accounting involves the preparation
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