aspects of financial reporting have come under the spotlight and calls for change have been raised. The financial reporting of losses on financial assets held at amortised cost is one such principal area and the International Accounting Standards Board (‗IASB‘) has reacted by proposing a new impairment model. Given the complexity involved in accounting for the impairment of financial assets, both FEE and EFRAG felt that both European constituents and also other interested parties may benefit from having
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CHAPTER 18 REVENUE RECOGNITION IFRS questions are available at the end of this chapter. TRUE-FALSe—Conceptual Answer No. Description F 1. Recognition of revenue. T 2. Realization of revenue. T 3. Delayed recognition of revenue. F 4. Recognizing revenue when right of return exists. T 5. Recognizing revenue prior to product completion. F 6. Use of percentage-of-completion method. T 7. Input measure for contract progress. T 8. Reporting Construction in Process and Billings
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Federation of European Accountants Fédération des Experts comptables Européens Impairment of Financial Assets The Expected Loss Model DECEMBER 2009   This paper has been prepared jointly by FEE and EFRAG as part of their pro-active work to provide European constituents with a perspective on the IASB’s proposals for the impairment of financial assets. It is intended to promote discussion and debate on these proposals. The paper describes the proposals but does not represent the views
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TB EXAM QUESTIONS Chapter 1 True False 1.Napoleon found the Italian system of accounting to be inefficient. 2.Venice’s commerce was driven by sea traffic. 3.The Genoese system was the first to imply that unlike items could be compared in terms of a common monetary unit. 4.Double entry bookkeeping quickly had world-wide acceptance, as the British accepted it in the 1400s. 5.When hyperinflation exists, alternative systems to historical cost become necessary. 6. The International
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CHAPTER 11 DEPRECIATION, IMPAIRMENTS, AND DEPLETION IFRS questions are available at the end of this chapter. TRUe-FALSe—Conceptual Answer No. Description T 1. Nature of depreciation. F 2. Nature of depreciation. T 3. Depreciation, depletion, and amortization. T 4. Definition of depreciation base. F 5. Factors involved in depreciation process. F 6. Definition of inadequacy. T 7. Objection to straight-line method. F 8. Units-of-production approach. F 9. Accelerated depreciation
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Research Articles Emissions Trading and Carbon Credit Accounting for Sustainable Energy Development With Focus on India A. N. Sarkar Senior Professor (International Business), Asia-Pacific Institute of Management, New Delhi, India Abstract Global climate change is inextricably linked with the enhanced build-up of greenhouse gases. Emissions- trading in the form of carbon credits or CERs is opening up a new vista of trade opportunities with prospect for gradual reduction of emissions particularly
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ISSUES IN ACCOUNTING EDUCATION Vol. 22, No. 4 November 2007 pp. 685–708 China Eastern Airlines: People’s Republic of China Accounting Standards, International Financial Reporting Standards, or U.S. Generally Accepted Accounting Principles? John L. Haverty ABSTRACT: China Eastern Airlines, headquartered in the People’s Republic of China, has been listed and traded on the New York Stock Exchange since 1997. In its 2005 annual report, China Eastern Airlines presents two sets of financial statements:
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c02AFurtherLookatFinancialStatements.qxd 7/27/10 9:39 AM Page 46 chapter 2 A FURTHER LOOK AT FINANCIAL STATEMENTS ● the navigator ● ● ● ● ✓ Scan Study Objectives Read Feature Story Scan Preview Read Text and Answer Do it! p. 52 p. 53 p. 62 p. 68 Work Using the Decision Toolkit Review Summary of Study Objectives Work Comprehensive Do it! p. 72 Answer Self-Test Questions Complete Assignments Go to WileyPLUS for practice and tutorials Read A Look at IFRS p. 96 study objectives
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CONTENT AND SKILL SPECIFICATIONS FOR THE UNIFORM CPA EXAMINATION Approved by the Board of Examiners American Institute of Certified Public Accountants May 15, 2009 Effective Date: January 1, 2011 Board of Examiners Examinations Team American Institute of Certified Public Accountants Parkway Corporate Center 1230 Parkway Avenue, Suite 311 Ewing, NJ 08628-3018 COPYRIGHT © 2009 BY AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS, INC. CONTENT SPECIFICATION OUTLINES (CSOs) The outline
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international financial reporting standards CERTIFICATE Learning materiaLs Contents FINANCIAL REPORTING CONTEXT..............................................................3 THE IFRS FRAMEWORK ..............................................................................17 PRESENTATION OF FINANCIAL STATEMENTS ........................................35 ACCOUNTING POLICIES .............................................................................49 REVENUE................................
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