skills. Daimler employees were competitive and resented the Chrysler division. Efforts and goals were not combined and there was a lack of synergy. One of the reasons for the merger was to combine their operations‚ share R&D know-how and joint sales. As a result of the lack of cooperation there were production manufacturing glitches. Manufacturing was not properly streamlined. Both companies had very different methods of manufacturing and production. There was no learning from one another
Premium Daimler AG Mercedes-Benz Chrysler
Comparing IFRS to GAAP Craig Ronquillo ACC/291 8 December‚ 2014 Joseph Bailey Comparing IFRS to GAAP I will be comparing IFRS to GAAP‚ and be discussing many ways these two get along with each other and see what they do differently as well‚ they both have their ways of doing things which are easier but sometime even harder. IFRS 8-1: What are some steps taken by both the FASB and IASB to move to fair value measurement for financial instruments? In what ways have some of the approaches differed
Premium Generally Accepted Accounting Principles Depreciation Asset
working towards converging it own accounting standard‚ US GAAPs (United States Generally Accepted Accounting Principles) with IFRSs (International Financial Reporting Standards). This report is about the evaluation of the convergence project to form a global standardized financial statement. IFRS is a set of international accounting standards stated how particular types of transactions should be reported in financial statements. However‚ U.S GAAP is a common set of accounting principles‚ standards and
Premium International Financial Reporting Standards Financial statements
(through DaimlerChrysler Financial Services). The company also owns a major stake in aerospace group EADS. DaimlerChrysler was formed in 1998 by the merger of Daimler-Benz‚ the manufacturer of Mercedes-Benz (Germany)‚ and the Chrysler Corporation (USA). The transaction was announced on May 7‚ and took place on November 12. The Chrysler Group (Chrysler‚ Jeep and Dodge) also provides its customers with parts and accessories marketed under the Mopar brand name. The cross-border companies are notoriously
Premium Daimler AG
GAAP and IFRS There are differences that exist between the US GAAP and IFRS (International GAAP)‚ nonetheless right now there is a convergence project existing between the FASB and the IASB‚ which issue these GAAPs in that order to narrow down the differences between the two. This is so that there are no misinterpretations when using either GAAPs. With that mentioned‚ the following differences exist between the US GAAP and IFRS (International GAAP). Inventory Measurement GAAP clarifies that
Premium International Financial Reporting Standards Generally Accepted Accounting Principles
Whatever GAAP or IFRS‚ there are the rules accounts has to be followed. GAAP is an accepted set of rules‚ conventions‚ the standard framework of guidelines and procedures for reporting financial information‚ as defined by the Financial Accounting Standards Board. “It includes the standards‚ conventions‚ and rules accountants follow in recording and summarizing transactions‚ and in the preparation of financial statements” (American Institute of Certified Public Accountants‚ website). GAAP include
Premium International Financial Reporting Standards Financial statements Balance sheet
Daimler Chrysler Case Do you think the culture problems could have been largely avoided in this merger? How? As in any merger‚ integration is the most difficult to implement and in this case culture problems were inevitable. You have two large corporations in two different countries working in different management system‚ environment‚ believe‚ and culture. In order for this merger to work‚ one has to deign to create synergy. I think this merger happened to quickly. If Daimler did enough
Premium Daimler AG Automotive industry Mercedes-Benz
spent a lot of money on information technology‚ but it was not centralized and standardized to reach every department and employee of the company. In other words‚ the information system was not linked together and standardized‚ which kept information from the employeesso they were unable to make efficient and effective decisions. One of the symptoms that GM faced in the process of producing a product was that the employee was not educated with the system‚ which led them to make the same mistakes over
Premium General Motors Automotive industry Mercedes-Benz
The DaimlerChrysler emulsion http://www.economist.com/node/341352 WHEN‚ two years ago‚ Daimler-Benz‚ Germany’s most profitable car company‚ and owner of the world-beating Mercedes marque‚ revealed that it was merging with Chrysler‚ the smallest but most efficient of America’s Big Three car producers‚ the two companies embarked on a cross-border deal based on what seemed to be impeccable industrial logic. Cross-border mergers are notoriously tricky. For DaimlerChrysler to succeed requires cohesion
Premium Chrysler Automotive industry Daimler AG
rightly when it spoke about the merger of Daimler Benz and Chrysler‚ ‘Without Daimler‚ Chrysler would be in liquidation; and without Chrysler‚ Mercedes would be confined to a limited future of narrowing horizons‚ as rivals encroached on the luxury market.’ However‚ the highly spoken merger did not work as they expected.Their structures and mechanisms were quite different. German approach was following a hierarchical and organized mechanism and Chrysler being quite relaxed in their approach. So
Premium Daimler AG Mercedes-Benz