Annual Report 2009 2009 Highlights: Comparable Sales Growth 3.8% Earnings Per Share Growth 9% Total Cash Returned to Shareholders 2007–2009 $ 16.6 Billion To Our Valued Shareholders: To state the obvious‚ 2009 was a tumultuous year economically. Despite this tough environment‚ McDonald’s delivered another exceptional year of growth‚ posting strong sales and increased market share around the world. In 2009‚ global comparable sales increased 3.8 percent‚ fueled by solid
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GRANT THORNTON Global transfer pricing guide More and more fiscal authorities continue to develop their transfer pricing laws. The principles are common‚ although interpretations differ from one tax authority to another. Compliance takes time and patience‚ and the demands and penalties from authorities are increasing. There is greater emphasis on examination and audit activity to encourage compliance and ignoring this issue is not an option for any well-run business. This international transfer
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1. As used in international accounting‚ a “hedge” is: A) a business transaction made to reduce the exposure of foreign exchange risk. B) the legal barrier between the various divisions of a multinational company. C) the loss in US $ resulting from a decline in the value of the US $ relative to foreign currencies. D) one form of foreign direct investment. Answer: A 2. A translation adjustment may be necessary when: A) notes to financial statements are converted
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Outline Part 1 Background and Overview Part 2 US GAAP and IFRS Part 3 China GAAP and IFRS Part 4 Summary of Convergence Process Part 5 Pros & Cons of Convergence Part 6 The reasons for differences in accounting practice ww.ifrs.org + The International Accounting Standards Board + The International Accounting Standards Committee (IASC) Foundation + Objective – a single set of global financial reporting standards + Aim – convergence between national standards and international
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countries of the world. Accounting standards are concerned with the system of measurement and disclosure rules for preparation and presentation of financials statements. They appear with a set of authoritative statements of how particular types of transactions‚ events and other costs should be recognized and reported in the financial statements. Accounting standards are devised to furnish useful information to different users of the financial statements‚ to such as shareholders‚ creditors‚ lenders‚ management
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Opinion No. 25 Accounting for Stock issued to Employees. Share-based payment is “a transaction in which the entity receives or acquires goods or services either as consideration for its equity instruments or by incurring liabilities for amounts based on the price of the entity ’s shares or other equity instruments of the entity. The accounting requirements for the share-based payment depend on how the transaction will be settled‚ that is‚ by the issuance of (a) equity‚ (b) cash‚ or (c) equity or
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Lion Financial Lion Financial Services (LFS) provides investment management services to approximately 350‚000 customers‚ made up of corporations‚ institutions‚ and individuals. The bulk of LFS’ transactions with its customers‚ making up roughly half of all transactions‚ are carried out through its call centers. Thus‚ the efficient and productive operations of the LFS call centers is a priority for the company and critical to its bottom line. In early 2000‚ Jim Boatwright‚ LFS’ Vice President of
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| TRENDSETTERS INC. Term sheet Negotiations | Entrepreneurship and Venture Capital | | | Introduction: Trendsetter Inc. was formed by Wendy Borg and Jason Kushdog‚ the CEO and the COO respectively‚ in March 2000‚ to deliver innovative warehouse and distribution management software program for clothing retailers. The “founders” started the firm after quitting their respective jobs and decided to pool in their savings in the firm. The software produced by the firm would contain a demand
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Dear Client‚ It has come to my attention that you have some questions about the information I have asked for. It is my intention in this letter to explain why I have asked for the information in question. I will outline adjusting lower cost or market inventory on valuation‚ capitalizing interest on building construction‚ recording gain or loss on asset disposal‚ and adjusting good will for impairment. Adjusting lower cost or market inventory on valuation When a company purchases
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depreciation‚ inventory and accounts payable are reflected in cash from operations. Cash flow is calculated by making certain adjustments to net income by adding or subtracting differences in revenue‚ expenses and credit transactions (appearing on the balance sheet and income statement) resulting from transactions that occur from one period to the next. These adjustments are made because non-cash items are calculated into net income (Statement of Comprehensive Income) and
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