Accounting System and Financial Reporting of NGOs: Case Study of a BRAC’s Project Munima Siddika1, Mohammad Sarwar Jahan Rekabder2 and A.K.M. Delwar Hossain3 tawheedfj@yahoo.com Abstract: In the absence of specific accounting and financial reporting standards and diverse interpretation of certain terms under the laws of the land, it has become a very difficult task to follow a standardized procedure in generation and presentation of accounting and financial information of NGOs
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Financial Accounting Standards Board ORIGINAL PRONOUNCEMENTS AS AMENDED Statement of Financial Accounting Concepts No. 5 Recognition and Measurement in Financial Statements of Business Enterprises Copyright © 2008 by Financial Accounting Standards Board. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission
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Topic: Apply valuation techniques to determine the intrinsic value of debt and equity instruments. Question: Assume that the par value of a bond is $1,000. Consider a bond where the coupon rate is 9% and the current yield is 10%. Which of the following statements is true? Answer Rationale: The current yield is typically equal to the coupon rate when the bond is first issued. If the current yield is greater than the coupon rate, the par value of the bond is greater than the market value. | Topic:
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1. Introduction: Financial accountancy (or financial accounting) is the field of accountancy concerned with the preparation of financial statements for decision makers, such as stockholders, suppliers, banks, employees, government agencies, owners and other stakeholders. Financial capital maintenance can be measured in either nominal monetary units or units of constant purchasing power. The central need for financial accounting is to reduce the various principal-agent problems, by measuring and
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Mini Case (p. 45) Assume that you recently graduated and have just reported to work as an investment advisor at the brokerage firm of Balik and Kiefer Inc. One of the firm’s clients is Michelle DellaTorre, a professional tennis player who has just come to the United States from Chile. DellaTorre is a highly ranked tennis player who would like to start a company to produce and market apparel she designs. She also expects to invest substantial amounts of money through Balik and Kiefer. DellaTorre
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defines an asset as a future economic benefit. It also uses word probable in its definition of assets and liabilities. | IASB defines it as a resource from economic benefit is expected to flow. | FASB does not allow the upward valuation of most assets. | ------------- | U.S GAAP has traditionally been more rules-based, but the common conceptual framework is moving towards an objective-oriented approach. | IFRS is largely a principles-based approach. | Companies must disclose their accounting policies
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Profitability – how profitable the firm is in relation to sales and assets. Liquidity – ability of a company to pay its creditors and meet its debts. (ideal current ratio is 1.5-2.0 If more, then firm shud aim at reducing some asset. Much of it cud have been tied up in stocks ) Efficiency – how well the firm is using its resources. gearing ratio - expresses the ratio between borrowed capital and total capital employed. It is a measure of efficiency to help interpret the degree to which
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Individual Research Project: Oracle Corporation - Business Structure and Valuation. Executive Summary This research project summarizes the business of Oracle Corporation (Oracle), the company’s key competitive advantage factors and the valuation of the company. In this summary, the corporate structure of Oracle, the company’s business and competitive advantage and the valuation of the company are discussed. Oracle is involved in the business
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investors by making excess investments in marketable securities or by paying too much for acquisitions. Massage information releases or manage earnings to avoid revealing bad news. Describe corporate governance. Corporate governance is the set of rules that control a company’s behavior towards its directors, managers, employees, shareholders, creditors, customers, competitors, and community. Describe the corporate governance provisions that are internal to a firm and are under its control.
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model” (Tootsie.com) The Tootsie Roll has strong Business Conduct and Ethics to guide its employees and officers, and directors to obey the law and act ethically. The code principles of its Business Conducts and Ethics include: Compliance with the law, rules, and regulation, prohibition against insider trading, conflict of interest, corporate opportunities, confidentiality, fair dealing, safety and environment, protection and proper use of company assets,
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