Accounting. In this course‚ students apply accounting research tools to current accounting issues. Other topics include research of accounting questions related to inventory‚ fixed assets‚ leases‚ derivative instruments‚ debt‚ contingencies‚ segment reporting‚ pensions‚ business combinations‚ consolidations‚ stockholder’s equity‚ and a program overview. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two
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53 FAIR PRESENTATION---AN ETHICAL PERSPECTIVE ON FAIR VALUE ACCOUNTING PURSUANT TO THE SEC STUDY ON MARK-TO-MARKET ACCOUNTING Sharon S. Seay‚ Macon State College Wilhelmina H. Ford‚ Macon State College ABSTRACT Fair value accounting has received a significant amount of blame as the cause of the current financial crisis. Fair value accounting does not cause illiquidity or volatility in financial markets. Banks‚ rather than accounting‚ caused the existing crisis‚ ultimately through bad lending
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Choosing Between Generally Accepted Accounting Principles and International Financial Reporting Standards as Basis of Accounting Standards December 14‚ 2011 Research Paper Outline: Thesis Statement: Some experts do not prefer the adoption of IFRS principles because of its incompatibility with US Style Corporate Governance‚ its inefficiency compared to GAAP‚ and its inability to improve the present system. I. Introduction A. Current events about the topic (status quo) B. Definition
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AND FINANCIAL REPORTING * Accounting and capital allocation * Objective * Need to develop standard PARTIES INVOLVED IN STANDARD-SETTING * Securities and Exchange * Commission * American Institute of CPAs * Financial Accounting * Standards Board * Changing role of the AICPA GENERALLY ACCEPTED ACCOUNTING PRINCIPLES * FASB Codification ISSUES IN FINANCIAL REPORTING * Political environment * Expectations gap * Financial reporting * challenges
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role in attempting to maintain domestic and international standards of practice. The CF also provides structure to the process of creating financial reporting standards and ensures that standards are based on fundamental principles (Gore and Zimmerman‚ 2007). This indicates that the CF developed from theoretical underpinnings involved in financial reporting. It also suggests that the CF can be used as a structured outline for stakeholders when interpreting financial statements. The CF inhibits standards
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Financial Reporting Problem Part 1 XACC/290 Kathleen Downey Brittany Baker Amazon became a publically traded company in October 1995. In 1996‚ it was reincorporated in Delaware. Amazon issued its initial public offering of stock on May 15‚ 1997‚ trading under the NASDAQ stock exchange symbol AMZN‚ at a price of $18.00 per share in the U.S. ($1.50 after three stock splits in the late 1990s Wikipedia). Amazon’s initial business proposal was different they it did not expect to make
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Final Paper ACC 305: Intermediate Accounting I October 28‚ 2013 The Financial Accounting Standards Board (FASB) was established in 1973 in order to create and develop standards of financial accounting and reporting for the general use of the public and‚ in particular‚ users of financial information including auditors‚ creditors and investors. This financial information is standardized for greater clarity for the guidance and education of users (FASB org‚ 2009a). The primary purpose
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1. Assess the importance of converting from GAAP to IFRS from a company’s perspective. Propose three (3) benefits U.S. corporations will obtain by converting from GAAP to IFRS. 2. Identify four (4) financial reporting differences between U.S. GAAP and IFRS. For each financial reporting difference‚ take a position on which method would be most beneficial to financial statement users. 3. Predict three (3) possible problems that U.S. corporations may encounter when converting their financial
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International Accounting Standards Board (IASB). They include: International Financial Reporting Standards (IFRS)‚ International Accounting Standards (IAS) and interpretation originated by the International Reporting Standards Interpretation Committee (IFRSIC) (Oyedele‚ 2011). IFRS represent a single set of high quality‚ globally accepted accounting standards that can enhance comparability of financial reporting across the globe. This increased comparability of financial information could result in
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synthesis for effective decision making Recommended Text Book: The Analysis and Use of FINANCIAL STATEMENTS – Gerald. I. White‚ Ashinpaul. C. Sondhi and Dov Fried - Third Edition - Wiley Publications Suggested books: Financial Accounting: Reporting & Analysis - Earl K.Stice & james D. Stice – South Western CENGAGE Learning (Publication) Analysis of Financial Statements - Charles H.Gibson - South Western CENGAGE Learning (Publication) Financial Statement Analysis - John J.Wild‚ K.R.Subramanyam
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