"Aasb 117" Essays and Research Papers

UNIVERSITY OF TECHNOLOGY‚ SYDNEY FACULTY OF BUSINESS CONVERGED STANDARD ON REVENUE RECOGNITION IFRS 15-REVENUE FROM CONTRACTS WITH CUSTOMERS By LE‚ DOAN YEN NHI 11809946 Word count: 1000 (excluding executive summary and reference) Due date: 18th May 2015‚ 5 pm Executive summary On May 2014‚ the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) had jointly issue the converged standard‚ IFRS 15‚ on the Recognition of Revenue from Contracts

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TREASURER’S DIRECTIONS ACCOUNTING – LIABILITIES Section A3.3 : Provisions STATEMENT OF INTENT Complete and accurate liability information enables an Agency to be fully aware of its financial obligations and the uncertainties expected to affect their ultimate value. This Section explains the requirements for the recognition measurement and disclosure of provisions. MAIN FEATURES Section 38 of the Financial Management Act requires every Accountable Officer and every employee of an Agency

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Parliament and the Attorney-General. 2. the Australian Accounting Standards Board (AASB) Body charged with developing a conceptual framework for accounting practices‚ making and formulating accounting standards‚ and participating in and contributing to the development of a single set of accounting standard for worldwide use. 3. the Financial Reporting Council (FRC) Body that oversees the activities of the AASB and the AUASB (Auditing and Assurance Standards Board). 4. the Australian Securities

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Chapter 12 – Completion and reporting on the audit REVIEW QUESTIONS 12.1 What is the process of ‘engagement wrap-up’? Why is it important? The process of engagement wrap-up involves the auditor finalising an open items before issuing their audit report. The finalisation process could include completing additional audit procedures to ensure that sufficient and appropriate evidence is held on which to base the audit opinion. The process usually includes work in the following areas: 1

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TOPIC 3 – L E CT U R E S 5 & 6 Cash flow reporting and analysis REVISED BY DR SIMONA SCARPARO (FEBRUARY 2013). EARLIER R E V I S E D B Y D R G U S H O S S A R I ( J A N U A R Y 2 0 1 0 ) ‚ B A S E D O N O R I G I N A L M AT E R I A L P R E PA R E D BY GARRY CARNEGIE‚ GRAEME W INE‚ CHRISTINE JUBB AND JUDY NAGY Contents Lectures 5 & 6: Introduction 1 Objectives 1 Learning resources 1 Prescribed text Online readings Glossary CloudDeakin 1 2 2 2 Importance of

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aabbba B  ba 2. 1|P a g e 3 Context-Free Grammar  aabbba b) Give a rightmost derivation of string abaabbbabbaa. Derivation Rule S  ASB S  ASB  ASbBa B  bBa  ASbbaa B  ba  AASBbbaa S  ASB  AASbBabbaa B  bBa  AASbabbaa B  AAASBbabbaa S  ASB  AAASbabbaa B  AAAbabbaa S  AAaAbbabbaa A  aAb  AAaaAbbbabbaa A  aAb  AAaabbbabbaa A  AaAbaabbbabbaa A  aAb  Aabaabbbabbaa A    abaabbbabbaa A   

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nature of a reserve. What reasons may there be for no definitions being given for a reserve in the legislation‚ accounting standards and the Conceptual Framework 2010? The term reserve is not defined in any accounting standard or the Corporations Act. AASB 101 describes the equity of a company as consisting of issued capital and reserves (para.54(r)). In addition to retained earnings‚ the most common type of reserves are general‚ revaluation and foreign currency translation reserves‚ all of which can

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financial reporting is directed towards the users who typically provide relevant resources. More so‚ to the relative reporting entity but on the hand do not have the ability to compel the entity is providing information for them to make decisions. The AASB has broad standards on fair value measurement of financial statements. Equity is measurable by the determination of various financial statements hence the process of measurement should represent fair value. Indeed‚ to be able to create a fair value

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3101AFE TUTORIAL 2 - Semester 2 2013 Deegan Topics 2 and 3: The financial reporting environment and Regulation of financial accounting 2.1 What expectations do accounting standard-setters have about the accounting knowledge of financial statement readers? Accounting standard-setters have an expectation that the readers of general purpose financial reports have a ‘reasonable knowledge’ of accounting. Specifically‚ the IASB Framework states that ‘users are expected to have

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for the preparation and presentation of financial statements specifies that information generated should “represent faithfully” and “be neutral… free from bias” (AASB Framework‚ para. 33; 36). Information that is not neutral can “influence the making of a decision or judgement in order to achieve a predetermined result or outcome” (AASB Framework‚ para. 36). Many scholars have discussed the theory that financial reporting is biased and subjective‚ using numerous examples as evidence to support their

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