and list on the Swiss Exchange s New Market: a. Ease of raising capital (point 3). The Swiss Exchange s New Market has simple listing requirements designed to appeal to small companies. The contrast with the complex‚ detailed listing and reporting requirements in the United States is striking. b. Availability of capital (point 4). Switzerland has a large‚ well-developed capital market. c. Reputation of the exchange (point 5). The Swiss Exchange is well known for providing
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IFRS 8-1: “Basic accounting and reporting issues related to recognition and measurement of receivables‚ allowance accounts‚ recording discounts‚ the allowance method to account for bad debt and factoring are basically the same between IFRS and GAAP. However‚ the FASB (Financial Accounting Standards Board) and IASB (International Accounting Standards Board) are taking steps by working to implement fair value measurement‚ the amount they currently could be sold for‚ for financial instruments. “The
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ACC706 – Accounting Theory & Practices Tutorial Assignment-1 T1‚ 2015 Due Date 20th Feb.‚ 2015 (5pm.) Case Study-1 A Depression Scholar Knows What It Takes By: Robert Samuelson It would have been insane for US president Barack Obama not to nominate Ben Bernanke to a second term as chairman of the Federal Reserve. The economics dictated‚ as did the politics. We will never know whether the world might have suffered a depression if Bernanke’s Fed had not responded so aggressively. Early this
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THE EUROPEAN UNION (EU) ADOPTION OF INTERNATIONAL FINANCIAL REPORTING STANDARD (IFRS) DIBUA OBIORA VALENTINE Student No. 09175515 INTRODUCTION The harmonization of accounting standards across countries has been engendered by the globalization of politics and markets. In the past 20-30 years the growth in international trade fostered by increased Foreign Direct Investment flow of capital and development of technology has led to multinational firms establishing presence
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Cited: Ankarath‚ Nandakumar‚ et al. Understanding IFRS Fundamentals: International Financial Reporting Standards. Hoboken‚ New Jersey. John Wiley & Sons Inc.‚ 2010. Print. Bragg‚ Steven M. Wiley GAAP 2011: Interpretation and Application of Generally Accepted Accounting Principles. Hoboken‚ New Jersey. John Wiley & Sons Inc.‚ 2010. Print.
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financial information (discuss difference between financial statements and financial reporting). Review Illustration 1-1 to identify the essential characteristics of accounting and financial reporting. a. Financial statements: (1) Income statement. (2) Balance sheet. (3) Statement of cash flows. (4) Statement of changes in owner’s or stockholders’ equity. b. Financial reporting: (1) President’s letter or supplementary schedules in the annual report.
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Globalization of Environmental Accounting Jingyi Wang (MAcc) December 1st‚ 2010 Abstract As environmental issues have received much concern‚ more and more companies realize the importance of environment-related financial issues‚ especially environmental accounting. Many countries like US and Japan have made significant progress in this field‚ while China is facing difficulty in the development of environmental accounting. The objective of this essay is to discuss the international trend of
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Comparing IFRS to GAAP Essay ACC/290 November 24‚ 2014 Comparing IFRS to GAAP Paper Although the International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP) have a lot of similar guidelines and expectations‚ they also differ in many ways. The IFRS employs more of a “principles based” accounting standards whereas GAAP utilizes more of a “rules based” approach. Even though there are differences between terminology‚ revenue recognition‚ gains and/or losses
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sure standards have been updated to follow current situation. On July 31‚ 2012‚ FASB issued an Invitation to Comment‚ which reviewed key areas of the Private Company Decision-Making Framework - A Framework for Evaluating Financial Accounting and Reporting Guidance for Private Companies staff paper. This project was to gather comment from stakeholders about how they evaluate this private company decision-making framework. Therefore‚ FASB was able to decide carry the new concept into execution. The
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in the private sector for establishing standards of financial accounting. Those standards govern the preparation of financial statements. They are officially recognized as authoritative by the Securities and Exchange Commission (SEC) (Financial Reporting Release No. 1‚ Section 101‚ and reaffirmed in its April 2003 Policy Statement) and the American Institute of Certified Public Accountants (Rule 203‚ Rules of Professional Conduct‚ as amended May 1973 and May 1979). Such standards are important to
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