national accounting standards in retail industry Evaluating International Company under Abstract This paper analyses the international firms under the national accounting standard in retail industry. The study applies two typically firms which are Woolworths from Australia and Walmart from the United States and compare the two firms in 4 perspectives. Firstly‚ the different in recognition of intangible assets‚ revenue‚ tax‚ inventory under IFRS (Aus) and U.S.GAAP. Secondly‚ describe
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Ethical Standards in Health Care Accounting Ethical Standards in Health Care Accounting As a health care manager‚ there is a need to understand the basic accounting principles and the need to be able to look at a financial report and understand what it says. Without these keys and a good ethical compass‚ there could be serious consequences and could result in loss of revenue‚ funds‚ termination‚ or even prison time. Now this may seem like an extreme statement‚ but without using the four elements
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Country Differences in Accounting Standards There are five main influences on a country’s accounting system. Having a different system of accounting is like having a different culture for countries. There are many different things that dictate how an accounting differs. The relationship between business and providers of capital‚ political and economic ties with other countries‚ inflation accounting‚ level of development‚ and the national culture are the five influences on accounting systems. Relationship
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Accounting Aspect of Value Added Tax in Bangladesh Term Paper On Accounting Aspect of Value Added Tax in Bangladesh Prepared By : Name : Md. Mahmudul Hassan Roll : University Roll : Class Roll : Supervisor’s Name and Designation Mr. Md Nurajjaman Assistant professor Department of Accounting Govt. B.M College‚ Barisal Date of Submission : OBJECTIVES OF THE STUDY LEARNING OBJECTIVES After studying you shall be able to understand : ➢ The concept of Value added tax
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FASB Accounting Standards Codification (ASC) Section 958-605-25 requires that not-for-profits wait to recognize a contribution until they are satisfied that the likelihood is remote that the conditions that accompany the contribution will not be met (Tysiac‚ 2017). According to FASB ASC 958-605-8‚ pursuant to paragraph 958-605-25-2‚ an unconditional promise to give shall be recognized when it is received. There must be satisfactory confirmation that a promise was made and received in the form
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1.0 Introduction Standard Soap Corp. (SSC) is a $ 30-35 million company producing 5‚000 different varieties of bar soap. SSC has four broad production processes– transformation of raw materials‚ drying of bulk soap‚ production of soap batches and packaging. However‚ there are underlying complexities involving up to 5000 different paths during these production processes. This poses a potential challenge for the management to efficiently handle the underlying information base. In addition
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AS-19 “LEASES” PRE AS-19 ERA Prior to 1.04.2001 the “Guidance Note on Accounting for Leases” was applicable on leasing industries. This Guidance Note was based on the matching principle i.e. the periodic costs comprising of depreciation and lease equalization charges were recommended to be matched with lease rentals so that the net income from a finance lease will show a true and fair view
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world has differed widely. The International Accounting Standards Committee Foundation (IASCF) is committed to developing‚ in the public interest‚ a single set of high quality‚ understandable and enforceable global accounting standards that require transparent and comparable information in general purpose financial statements. The various pronouncements of the IASCF are sometimes collectively referred to as International Financial Reporting Standards (IFRS) GAAP. Required: (a) Describe the
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