versus IFRS Due to the controversy economies have had towards which method to use for accounting‚ there has been a compromise to converge the two most commonly used methods – GAAP and IFRS. However‚ these two methods are still very different. The convergence project has yet to be completed; in the meantime‚ more and more countries are running towards the IFRS since it is more reliable and relevant. The main difference between these two methods is the US GAAP is rule-based while the IFRS is principle-based;
Premium Balance sheet Financial statements Generally Accepted Accounting Principles
Solutions to Problems and Exercises TABLE OF CONTENTS * Chapter 1 1 Concepts for Analysis 1-5 1 Concepts for Analysis 1-6 2 Concepts for Analysis 1-10 3 Concepts for Analysis 1-11 3 * Chapter 2 4 Brief Exercise 2-3 4 Brief Exercise 2-4 4 Brief Exercise 2-5 4 Exercise 2-3 5 * Chapter 3 6 Exercise 3-6 6 Exercise 3-9 6 Exercise 3-11 8 Exercise 3-14 10 Exercise 3-15 10 Exercise 3-16 10 * chapter 4 12 Exercise 4-2 12 Exercise 4-4 13 Exercise 4-5 16 Exercise 4-12 17
Premium Revenue Balance sheet Generally Accepted Accounting Principles
IFRS – One World One Accounting Introduction to IFRS Currently‚ more than 100 countries requires or adopt IFRS and it is expected that by 2012‚ more than 150 countries will adopt IFRS. India has also taken the step towards convergence of Indian Accounting Standards with IFRS. This article details the need for harmonization of local GAAP with IFRS‚ challenges for Corporate India etc. 1. Importance of Accounting Standards 2. Accounting Standards Across the world 3. Need of Harmonization
Premium International Financial Reporting Standards Financial statements Financial Accounting Standards Board
inflow (revenue or cost saving) Recognition • Must meet the definition of asset • Must meet criteria set by IAS 38 – Cost of asset reliably measured – Probable economic inflow Recognized at cost!! Recognition – Internally generated • The standard states that expenditure on internally generated brands‚ mastheads‚ publishing titles‚ customer lists and items similar in substance are not recognized as intangible assets (because they cannot be distinguished from the cost of developing the
Premium Goodwill Generally Accepted Accounting Principles Balance sheet
Direct selling is the marketing and selling of products directly to consumers away from a fixed retail location. Peddling is the oldest form of direct selling. Modern direct selling includes sales made through the party plan‚ one-on-one demonstrations‚ and other personal contact arrangements as well as internet sales. A textbook definition is: "The direct personal presentation‚ demonstration‚ and sale of products and services to consumers‚ usually in their homes or at their jobs." Advantages/Benefits
Premium Marketing
antagonistic and less aggressive. Though Italian borrowings in English are not so numerous they have highlighted the important role the Italian language and culture has had in the English world. The aim of this course paper is the selection of some indirect Italian loanwords and the way they penetrated into the English language. The paper examines how English borrowed Italian loanwords via other languages and the changes they have undergone in the target language. Structurally this paper consists of
Premium English language French language German language
(units) Selling Price per Unit Direct Materials Direct Labor Debbie 50‚000 $13.50 $4.30 $3.20 Trish 42‚000 $5.50 $1.10 $2.00 Sarah 35‚000 $21.00 $6.44 $5.60 Mike 40‚000 $10.00 $2.00 $4.00 Sewing kit 325‚000 $8.00 $3.20 $1.60 The following additional information is available: a. The company’s plant has a capacity of 130‚000 direct labor-hours per year on a single-shift basis. The company’s present employees and equipment can produce all five products. b. The direct labor rate of $8 per hour
Premium Variable cost Cost
QUANTITATIVE RESEARCH METHODS FOR FINANCE The IFRS measures impact on French bank securities volatility during the financial crisis In Group with Mr Duchemin and Mr Melloul Benjamin CNUDDE Introduction: The world of finance is from now global and has huge repercussions all over the planet as we could see during those last years of the recent recession. The subprime crisis triggered in the United States during the second half of 2006 has quickly turned into an international financial crisis
Premium International Financial Reporting Standards Financial crisis Subprime mortgage crisis
present financial information relating back from Sports Direct Annual Report 2012 alongside a brief history of Sports Direct with additional information about how the group generates revenue. Background Sports Direct is the UK’s largest sporting retailer‚ sells major third party fashion brands and licensed brands‚ leisure equipment‚ footwear and accessories such as Adidas‚ Nike‚ Reebok‚ Lonsdale and many more for a competitive price. Sports Direct manage 395 stores in the UK alone however they operate
Premium Balance sheet Asset Depreciation
products. Chuck questioned if the current cost-management system was providing the management with accurate data about product costs. In a traditional‚ volume-based product-costing system‚ only a single predetermine overhead rate is used. All manufacturing-overhead costs are combined into one cost pool‚ a grouping of individual indirect cost items‚ and they are applied to products on the basis of a single variable that costs over a given time span (cost driver) that is closely related to production
Premium Cost Costs Manufacturing