Applying IFRS in Germany – Determinants and Consequences Joachim Gassen Wirtschaftswissenschaftliche Fakultät Humboldt-Universität zu Berlin 10099 Berlin, Germany Phone: +49(0)30-2093 5764 E-mail: gassen@wiwi.hu-berlin.de Thorsten Sellhorn Fakultät für Wirtschaftswissenschaft Ruhr-Universität Bochum Universitätsstraße 150 44780 Bochum, Germany Phone: +49(0)234-32 28300 E-mail: sellhorn@iur.rub.de First Version, June 2006 This Version, July 2006 Forthcoming in: Betriebswirtschaftliche Forschung
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Instructor: Alexis Kythreotis Financial statements according to IFRS: 1.Balance sheet/Statement of financial position …A list of all assets owned , all liabilities owed by a business and Owners’ equity, as at a particular date. Basically, it is a snapshot of the financial position of the business at a particular moment (it does not cover a period). …An asset is something valuable which a business owns or can use. According to IFRS/IAS an asset is a resource controlled by an entity as a result of
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CHAPTER 4 Completing the Accounting Cycle ASSIGNMENT CLASSIFICATION TABLE | | | | |Brief | | | |Learning | |Questions | |Exercises | |Do It! | |Objectives | |
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CONTACT(S) March 2014 Leases Lease Term Anna Heining Sarah Geisman Scott A. Muir aheining@ifrs.org sgeisman@ifrs.org samuir@fasb.org +44 (0)20 7246 6428 +44 (0)20 7246 6464 +1 (203) 956 3478 This paper has been prepared by the staff of the IFRS Foundation and the FASB for discussion at a public meeting of the FASB or IASB. It does not purport to represent the views of any individual members of either board. Comments on the application of US GAAP or IFRSs do not purport to set out acceptable
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Decisions * Remove LOL Valuation Allowance of $105mm * Remove $150mm Valuation Allowance from Sundance books * Subsequent Information as of December 31, 2012 * Sundanced Valuation Allowance is unnecessary ($50mm) Guidance Summary: * Both IAS 12 and ASC 740 “require income taxes to be accounted for using an asset and liability approach that recognizes current tax effects and expected future tax consequences of events that have been recognized for financial or tax reporting
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3217 International Development in Accounting Comparing of the performance of Malaysia Airlines and China Southern Airlines Summary The purpose of this report was discovering and analyzing the performance of Malaysia Airlines and China Southern Airlines; and the benefits and problems in the U.S. adopting of IFRS will be mentioned. First, it evaluates the performance of Malaysia Airlines and China Southern Airlines through five ratios analysis which is profitability
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the account balances as an indicator of a company’s future earning power. As IFRS is introduced into Canadian practice in 2001, companies will be required to focus on which methods will emphasize economic substance with the changes in accounting policies. In the following discussion, we will focus one aspect of the conceptual framework around IFRS, in particular, economic substance, as it relates to the application of IFRS in reporting Property Plant and Equipment (PPE.) Recognition of PPE to Reflect
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A New Approach to an Enduring Problem Today, a growing world population and the rise of “developing” nations are creating a strain on world resources never before witnessed. Faced with this trend, businesses can no longer afford to continue along the path of “being less bad” through traditional green practices. Cradle to Cradle offers a transformational new approach to solving this problem, one that embraces the power of human innovation rather than attempting to limit it. An analysis of the
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Industries 2 Major Firms 4 China’s Stock Market 6 China Securities Regulatory Commission 7 Legal Enforcement of IFRS 8 Summary of contents of financial statements 9 Transition Process of Accounting Standards 10 Auditing Standards 11 Full convergence with International Standards 11 Verification of Capital Contribution 13 Comparison of China’s old GAAP and IFRS 14 Accounting Education in China 15 The Chinese Institute of Certified Public Accountants 15 The CICPA Overview 15
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4 The definition of goodwill 4 Contribution to the creation of goodwill 5 Goodwill inclusion and exclusion 6 Identification of goodwill and intangible assets 7 Calculation of goodwill 7 Goodwill impairment 10 Comparison IFRS with U.S. GAAP for goodwill 11 Conclusion 13 References 14 Introduction: When one company gains control over the others, a business combination is established. As a part of this process, reciprocal accounts and intra-entity
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