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 standards + IFRS Framework + IFRS SMEs + Supported
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S-S Technology Inc. Company Policy(HR Policy) Recruitment Policy Purpose To ensure that required staffs are appointed at required interval for S-S Technology. Responsibility Relevant department manager shall responsible to submit staff requisition form upon staff requirement. HR manager shall review and arrange for recruitment as per requested information. Procedure When staff requirement request from concerned department manager who shall complete the staff requisition form and submit
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Ernst & Young IFRS Core Tools October 2011 IFRS Update for ÔfYf[aYd q]Yj ]f\af_ +) JK ) af l`] Õjkl q]Yj g^ Yhhda[Ylagf& To achieve this‚ the transitional provisions in IFRS 7 were amended to clarify that the disclosures need not be provided for: Annual or interim periods‚ including any statement of ÕfYf[aYd hgkalagf$ hj]k]fl]\ oal` Yf YffmYd [gehYjYlan] h]jag\ ]f\af_ Z]^gj] +) JA; )1 oadd j]kmdl af Y _Yaf j][g_fak]\ af hjgÕl or loss as the fair value of the equity issued will often
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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
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History of IFRS During Second World War‚ international accounting standards began to grow due to the lack of knowledge in recording accounting and the increases of cross boarder capital flows in the market. Several accounting board had been formed for the purpose of development of accounting standards to make it readable‚ understandable and record in a proper way. All of these accounting boards and committee are using the same way to convergence which is harmonization instead of standardization
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SYNTHESIS IFRS FOR SMEs (International Financial Reporting Standard for Small and Medium-sized Entities) INTRODUCTION 1.1 What is the objective of PFRS for SMEs? The objective of PFRS for SME is to develop a set of high quality‚ understandable and enforceable standards for SMEs. Which includes proper accounting practices for the preparation and presentation of financial statements that creates a common understanding between preparers and users of financial statements. PFRS for SME are
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Accounting Standards in Transition | A Comparison of IFRS and ASPE in Canada | | | | TABLE OF CONTENTS Executive Summary III Part I Key Differences between IFRS and ASPE 1 I. Frameworks for Financial Reporting 1 II. Form and Components of the Required Financial Statements 1 III. Revenues and Expenses Recognition 2 IV. Errors‚ Changes in Estimates‚ and Changes in Accounting Policies 2 V. Cash and Receivables 3 VI. Inventories 3 VII. Financial Assets 3 VIII. Property
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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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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 of Generally Accepted Accounting Principles and International Financial Reporting Standards C. Thesis statement II. Body A. Major detail #1: The major difference between IFRS and GAAP is that IFRS requires more discretion
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preparations‚ HRuday conducted ’Chrysalis’‚ an interactive session among seniors and juniors to bring clarity in junior’s thought process for summer placements. The session talked about ’what’ and ’how’ to prepare for internship process‚ the kinds of companies and profiles which comes into the campus. In continuation to ’Chrysalis’‚ HRuday brings ’The Corporate Jack’‚ a monthly magazine which focuses on different aspects of placements preparation. The aim of publishing this magazine is to make everyone
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