used for longterm purposes; borrowing money and repaying amounts borrowed, or otherwise settling the obligation; and obtaining and paying for other resources obtained from creditors on longterm credit”( FASB Accounting Standard codification, 2301045). As it also mentioned in FASB Accounting Standard Codification 230104514 and 230104515, then, “Proceeds from issuing bonds, mortgages, notes, and from other shortor longterm borrowing” and “payments of dividends or other distributions to owners
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ACW3050 Semester 1, 2015 Individual Assignment 1 Due date: Friday 3 April 2015 by 5.00 pm. Weighting: 15% (50 marks: Word count not to exceed 1000 word limit) Task Details: The core principle of IASB Exposure Draft 242 Leases is that entities should recognize assets and liabilities arising from a lease. Discuss the key changes on the recognition, measurement and disclosure on leasing by the lessor and the lessee stipulated in IASB Exposure Draft 242 with the exclusion of
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SOCIAL AND ENVIRONMENTAL DISCLOSURE A project report submitted in partial fulfillment of the requirements for MBA Project M.B.A. Candidate's Declaration I hereby certify that I have properly checked and verified all the items as prescribed in the checklist and ensure that my thesis/report is in proper format as specified in the guideline for thesis preparation. I also declare that the work containing in this report is my own work. I, understand that plagiarism is defined as anyone or
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their strategy review for the next decade. It is stated in that consultative document that the IFRS Foundation and IASB should encourage the maintenance of a network of national and other accounting standard-setting bodies as an integral part of the global standard-setting process. National and other accounting standard-setting bodies should continue to undertake research, provide guidance on the IASB’s priorities, encourage stakeholder input from their own jurisdiction into the IASB’s due process
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American countries adopted IFRS in 2011. D) All European, Asian, and African countries adopted IFRS in 2011. Answer: A 3) Why has the reputation of U.S. accounting standards decreased in recent years? A) The U.S. deficit is at a record high. B) Many U.S. businesses have declared bankruptcy. C) There have been some notable American accounting scandals, such as Enron. D) Lengthy prison sentences have been given to unethical American executives, such as Bernie Madoff. Answer: C 4) Which of the following
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Week 2 Assignment Acct 564- International Accounting and Multinational Enterprises Chapter 3 Exercise 5. On May 19, 2004, the IASB published a single volume of its official pronouncements that will be applicable from January 1, 2005. Required: Access the IASB Web site (www.iasb.org), search for these pronouncements, and prepare a list of them. The IASB published its official pronouncements and the list of them are as follows: * A new standard were introduce such as IFRS 6 Exploration
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What is the effect of mandatory IFRS adoption on earning management ABSTRACT: International Accounting Standard play a important role in the world. More and more countries trend to adopt international accounting standard. Beginning in 2005, public companies in the member states of the European Union (EU) are required to apply IFRS. Ten years have passed, what is the effect of mandatory IFRS adoption on these countries, and how IFRS affect on earning management. In the paper, I will discuss this
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PUBLIC SECTOR ACCOUNTING A. Institutional Framework for Public Sector Accounting 5. The institutional framework should include adherence to IFAC-issued International Accounting Standards. And it should support the groundwork for qualified accounting staff to provide the timely, relevant, and reliable financial information needed to support all fiscal and budget management, decisionmaking, and reporting processes. The diagnostic questionnaires that were used in this assessment collected information
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performance Effective audit and External scrutiny Accounting, recording and reporting Control and stewardship in budget execution 7 PEFA Assessments results..Africa (Oct 09) Link to economic growth… 8 PEFA overall results… Significant variability in average scores. Africa Region PEFA Scores (October 2009 data) 3.50 3.00 2.50 2.00 1.50 1.00 0.50 9 What about financial reporting? PEFA – Accounting Performance Indicators Indicator Description P1
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The Home Depot Values The Home Depot’s values guide the beliefs and actions of all associates on a daily basis. Our values are the fabric of the Company’s unique culture and are central to our success. In fact, they are our competitive advantage in the marketplace. Associate pride and our “orangeblooded” entrepreneurial spirit are distinctive hallmarks of our culture. 1. Taking care of our people: The key to our success is treating people well. We do this by encouraging associates to speak
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