order to convert the U.S. GAAP statements to comply with IFRS. If you were going to make a journal entry, what measurement or other information would you need? Please follow the bullet format I used below, if feasible. For an example – see “Inventory Flow assumption” below, which I completed for you. | Item | GAAP | IFRS | Needed to Convert to IFRS? | | Income Statement Items | 1 | Revenue | * Contingent amounts generally not being recorded as revenue until it’s resolved. * The residual
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reports. Summarize and communicate information to decision makers. Information System Cost & Revenue Determination Job costing Process costing ABC Sales Assets & Liabilities Plant and equipment Loans & equity Receivables, payables & cash Cash Flows From operations From financing From investing Information Users Investors Creditors Managers Owners Customers Employees Regulatory agencies -SEC -IRS -EPA Decision Support CVP analysis Performance evaluation Incremental analysis
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the following report, you will find a detailed company overview of Urban Outfitters, compiled of business markets, executive teams, and competitors. Included is a historical financial statement analysis containing Consolidated Balance, Income, Cash Flow statements, and Ratio analysis. A Three-year Pro-Forma statement with
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Special public assessments (sidewalks, etc.) included. Land improvements with an indefinite life Land held for speculation is classified as an investment B. Cost of Buildings: Outflows for cost of buildings or cost of construction. Same rule as before applies: anything to get an asset in place and functioning is part of the cost of the building. C. Cost of Equipment: Machinery, office equipment, furniture and fixtures. Historical cost = Purchase price +
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reversibility D) cash flow Answer: B Comment: The eleven properties of financial assets are (1) moneyness, (2) divisibility and denomination, (3) reversibility, (4) cash flow, (5) term to maturity, (6) convertibility, (7) currency, (8) liquidity, (9) return predictability, (10) complexity, and (11) tax status. Diff: 2 Topic: 9.1 Properties of Financial Assets Objective: 9.1 the many key properties of financial assets: moneyness; divisibility and denomination; reversibility; cash flow and return; term
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continue to grow after the IPO by borrowing from banks, issuing debt, or selling additional shares of stock. Agency problems can occur when managers act out of self-interest rather than the interest of the shareholders. Corporate governance is the set of rules that control the company’s behavior towards its directors, managers, employees, shareholders, creditors, customers, competitors, and community. d) Managers’ primary objective should be stockholder
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obligations to maintain liquidity and flexibility. There is a net cash outflow of 5,486 compared to cash inflow of 3,950 – this was mainly due to the increase in purchase of and advances to associated companies, additions to managed funds and other investments, and purchase of fixed assets. This was in line with the firm’s overall strategy of expanding its core businesses and their market shares in Asia. However, the negative cash flow may be a sign that current financing policy is not sufficient for
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accounting for temporary differences arising due to above. Definitions Accounting Profit is profit or loss for a period before deducting tax expense. Taxable Profit (or tax loss) is profit (or loss) for a period, determined in accordance with the rules established by the taxation authorities, upon which it will be determined whether income taxes are payable (or recoverable). Tax Expense (or tax income) is the aggregate amount included in the determination of profit or loss for the period in respect
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record of the organization’s financial status, balance sheet, the statement of revenue and expense, statement of fund balance or net worth and statement of cash flow. The Balance sheet allows the financial manager to keep an account on the organization’s worth (owns and owe). The statement of revenue and expense gives the information on flow of cash. Financial manager use the
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FNCE90011 Derivative Securities Topic 1 Fundamentals Topic Outline Basic Concepts Option Payoff and Profit Diagrams Miscellaneous Complicated Payoffs Appendix: Market Structure References Hull (8th edition) Chapters 1, 4.2, 5.2, 9, 11 Hull (7th edition) Chapters 1, 4.2, 5.2, 9, 11 Hull (6th edition) Chapters 1, 4.2, 5.2, 8, 10 Copyright © John C. Handley 2012. 1. BASIC CONCEPTS What is a derivative ? A derivative is an asset/security whose value is completely determined by the values of
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