Ifrs Summary

Page 7 of 50 - About 500 Essays
  • Premium Essay

    Ifrs vs. Us Gaap

    IFRS vs. GAAP Introduction The U.S. GAAP is accounting principles adopted by the U.S Securities and Exchange Commission (SEC). Over time SEC has been talking about moving these principles over to the IFRS, The International Financial Reporting Standard. “IFRS is an accounting standard that was developed by a not-for-profit group called the International Accounting Standard Board. (www.Ifrs.com)” This summary will give you a subject by subject look of some differences and similarities both the

    Words: 937 - Pages: 4

  • Premium Essay

    Gaap vs Ifrs

    construction company would. IFRS offers somewhat less guidance than GAAP. Companies have a little more flexibility in reporting revenue. For example, businesses following GAAP amortize, or allocate, revenue gradually over a period of time instead of all at once when it is earned like they would with IFRS. Under both GAAP and IFRS, you do not recognize revenue until it is earned. GAAP guidance has separate rules for specific industries, according to an Ernst & Young summary of the differences between

    Words: 1003 - Pages: 5

  • Premium Essay

    International Financial Reporting Standards and Its Adoption Within the Institutional Perspective

    Summary and Research Question: Historically, each nation has developed and applied its own domestic accounting standards; however, globalisation and integration of capital markets result in capital which travels across global boundaries. This process reveals a need for single set of financial standards. At this point, International Financial Reporting Standards (IFRS) are developed by the International Accounting Standards Board (IASB). Even though many researches have been done within the context

    Words: 1061 - Pages: 5

  • Premium Essay

    Management

    INTRODUCTION International Financial Reporting Standards (IFRS) In 2011, international financial reporting standards (IFRS) will replace generally accepted accounting principles (GAAP). This means Canadian publicly-traded companies will be required to present financial statements in accordance with IFRS. This change will not only affect those involved in the development of financial information but also those who use this information. Economic globalization brings increased demand for high quality

    Words: 2445 - Pages: 10

  • Premium Essay

    Income Taxes Ifrs/Gaap

    International Accounting Accounting for income taxes IAS 12 1 Executive summary • Despite the similar approaches to accounting for taxation under IFRS and US GAAP, deferred taxation is one of the most common areas where differences arise. The reason is that a high proportion of transactions recognized in either the statement of income or balance sheet will have consequential effects on deferred taxes. • US GAAP, deferred tax asset is recognized in full. It is then reduced by

    Words: 1308 - Pages: 6

  • Premium Essay

    Hedge

    To: | George Saoud | From: | Peter Zarin | CC: | Stephen Heath, George Saoud and Salesh Nischal | Date: | Xxxxx | Re: | Hedge Accounting – Designation and Effective Testing as at 30 June 2015 | Executive Summary In Q4 FY15, FHL Group decided to elect to adopt IFRS 9 Hedge Accounting which will enable the Group to more effectively mitigate the adverse foreign exchange movements involved with importing of raw materials and finished goods for our leading retail business units, c $120M

    Words: 1216 - Pages: 5

  • Premium Essay

    Ifrs

    International Financial Reporting Standards (IFRS) MBA 691: Managerial Accounting Professor: Prepared by: April 19, 2009 Bibliography: • Ernst & Young, “U.S. GAAP vs. IFRS: The basics”, January 2009. • Securities & Exchange Commission, “Roadmap for the Potential Use of Financial Statements Prepared in Accordance with International Financial Reporting Standards by U.S. Issuers”, www.sec.gov/spotlight/ifrsroadmap.htm (Release No. 33-8982;

    Words: 2112 - Pages: 9

  • Premium Essay

    As and Ifrs

    Topic | AS | IFRS | Presentation of Financial Statements | AS1-Disclosure of Accounting Policies AS5-Net Profit or Loss for the Period , Prior Period Items and Changes in Accounting Policies | IAS1- Presentation of Financial Statements | | Entities preparing first financial statements in compliance with Indian GAAP are required to comply with all accounting standards. | Entities preparing first financial statements in compliance with IFRS apply optional exemptions and mandatory exceptions

    Words: 1036 - Pages: 5

  • Free Essay

    Ifrs 13

    Fakultät Sozial- und Wirtschaftswissenschaften Lehrstuhl für Betriebswirtschaftslehre, insbesondere Internationale Rechnungslegung und Wirtschaftsprüfung Prof. Dr. Brigitte Eierle Seminar Internationale Rechnungslegung und Wirtschaftsprüfung IFRS 13 – Kritische Würdigung |Name, Vorname : |Reimers, René | | |Matrikel-Nr: |1677578 |

    Words: 6260 - Pages: 26

  • Premium Essay

    Harmonization of Accounting Standards

    Mr. Herb, Our Company is facing the issue of whether to adopt IFRS or continue reporting under domestic GAAP. Before making the final decision we need to review and discuss the pros and cons of such a transition. “The use IFRS as a universal financial reporting language is gaining momentum across the globe. Adopting IFRS is going to be very challenging but at the same time could also be rewarding” (индус). Being principles-based, IFRS allows more leeway in how companies can portray their financial

    Words: 607 - Pages: 3

Page   1 4 5 6 7 8 9 10 11 50