FEMSA 2007: THE FINANCIAL STATEMENT ANALYSIS IMPACT OF DIFFERENCES IN MEXICAN AND US GAAP 1. Compute the following ratios for 2007 using the financial statements prepared using Mexican FRS and expressed in pesos. [Assume the weighted average number of shares outstanding is 17,891,000] a. Current Ratio: Current assets/Current liabilities b. Inventory Turnover: Cost of Goods Sold/Average Inventory c. Profit Margin on Sales: Net Income/Net Sales d. Debt to Assets Ratio:
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US GAAP versus IFRS The basics December 2011 !@# Table of contents Introduction .....................................................................2 Financial statement presentation......................................4 Interim financial reporting ................................................6 Consolidation, joint venture accounting and equity method investees .............................................................7 Business combinations ...................................
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US GAAP versus IFRS The basics November 2013 Table of contents Introduction..................................................................... 2 Financial statement presentation ..................................... 3 Interim financial reporting................................................ 6 Consolidation, joint venture accounting and equity method investees/associates ........................................... 7 Business combinations...........................................
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Financial Analysis & Management Assignments 1. Discuss the extent to which the legal and professional regulatory framework of accounting ensures that corporate reports provide reliable, relevant, objective, and comparable information to users. 2. Critically evaluate the importance of discounted cash flow techniques in investment decisions. Illustrate your answer with your examples. 3. Discuss the relative importance profitability and liquidity for the survival of a business and explain how the
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Implementing XBRL Developing a roadmap for the SEC mandate Contents 1 2 4 14 What is XBRL? XBRL and the SEC Implementing XBRL Focus on quality To our clients and friends For several years now, momentum has been building towards a single electronic financial reporting standard to allow more efficient retrieval and analysis of financial information. One of the key objectives of this movement to digital financial reporting is to enhance the accessibility of financial information
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IFRS vs. A- IFRS Australia along with New Zealand, The European Union, China and Russia was one of the earliest adopters of the IFRS. Australia adopted an IFRS equivalent which they call A-IFRS starting January 1, 2005. Even though, Australia and the IFRS have converged there are still some difference in the accounting practices allowed by Australian GAAP and the full IFRS. The differences between the two sets of standards are not as glaring as the differences between US GAAP and IFRS but the differences
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FASB VS. IASB - Convergence Project Shenita Baker ACC541 November 15, 2011 Delphine Wolsker FASB VS. IASB - Convergence Project The Financial Accounting Standard Board (FASB) is located in the United States and was formed in 1973 as a private sector to establish guidelines for financial accounting. These standards command the arrangement of financial reports by nongovernment bodies. The Financial Accounting Standard Board has only 5 members. The FASB standards are known by The American
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terms, but also as discrete concepts, both of which would be subsequently discussed by using two contexts: fiscal transparency and environmental responsibility. Business Ethics: Fiscal Transparency Most basic definitions of the ‘corporation’ gives us little to no hint of ethical commitment; in fact, according to Berle and Means (xxiii), the corporation is basically a legal entity which possesses faculties ultimately “devoted to production,
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business I would like to open one day soon. We will discuss my business plan in detail, including the financial report, and how to implement this plan to start my own business. Discussing the reasons why as entrepreneur, I would choose to use GAAP over IFRS, are also included in this paper. A sample chart of my account statement for my business is included as well. BUSINESS PLAN Many people in America are creative, ambitious, and industrious; always looking for other ways to make income. Because
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é The Effects of Mandatory IFRS Adoption in the EU: A Review of Empirical Research October 2014 Information for Better Markets An initiative from the ICAEW Financial Reporting Faculty The Effects of Mandatory IFRS Adoption in the EU: A Review of Empirical Research forms part of the Information for Better Markets thought leadership programme of ICAEW’s Financial Reporting Faculty. ICAEW operates under a Royal Charter, working in the public interest. As a world leading professional accountancy
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