accountable entities will cease to report under Canadian GAAP and instead use IFRS. This paper discusses three accounting topics to compare Canadian GAAP with IFRS. The three topics cover (1) conceptual framework‚ (2) property‚ plant and equipment‚ and (3) financial statement presentation. Conceptual Framework Both IFRS and Canadian GAAP are based on similar conceptual frameworks. Many of the basic concepts in IFRS (e.g.‚ the going concern assumption‚ accrual accounting) are similar to Canadian
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The First Time I fell in Love It was a cool summer morning‚ and we got up early to enjoy the weeping willow trees. She ran out into the sunrise. All I could hear was her laughter‚ silent giggles that she tried to stifle. She ran farther into the damp field. Then she turned around and faced me. She beckoned for me. This was only our second date in two weeks and thinks have been going wrong at my job‚ but her calling me towards her‚ had let that all disintegrate. I wanted to go to her‚ so I began
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Kai Jiang Case – HBS: Fiat -- Tata Case questions: 1 What is Fiat’s current situation in India? Fiat is an Italian automobile manufacturer based in Turin. Fiat India in Indian car market is facing the dilemma of poor sales. It had a very small market share in India comparing to other existing automobile competitors. There was a good and long relationship with Tata Motors in Indian so Fiat and Tata were going to have a joint venture (JV) to manufacture passenger cars‚ engines and transmissions for
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The most important reason for moving into China could be the huge lucrative market and the immense opportunity the market of China presents Acer with. * China being a huge market waiting to be exploited would also necessitate the reduction of lead times of ordering parts from Taiwan and owing to the restrictions of direct transportation facilities between China and Taiwan‚ Acer would need to setup a manufacturing facility as well as a shift the assembly lines into China for serving the fragmented
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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;
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1. Describe the main debates that occurred in the adoption of the Constitution. Include the Federalist/Anti-Federalist positions‚ the Bill of Rights‚ compromises‚ and mechanisms designed to avoid tyranny. The Virginia Plan proposed the creation of a two-house legislature with a state’s population determining its representation in each. The New Jersey Plan called for a single-house Congress in which each state cast one vote. In the end‚ a compromise was reached—a two-house Congress consisting of
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IFRS for Small And Medium Enterprises: How Is It Different And Is It necessary? Introduction To The IFRS For SMEs The IFRS (International Financial Reporting Standards) for SMEs is a self-contained standard of 230 pages‚ which was published on the 9th July 2009‚ designed to meet the needs and capabilities of small and medium-sized entities (SMEs)‚ which are estimated to account for over 95% of all businesses around the world. The standard is a result of a five year development process with
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sources‚ majority of which represent the laws and regulations issued by the Ministry of Finance ("MOF")‚ and‚ listed company disclosures issued by the China Securities Regulatory Commission ("CSRC"). | | 2. What is IFRS? | International Financial Reporting Standards ("IFRS")‚ often known the original International Accounting Standards ("IAS")‚ are a set of accounting standards. They are issued by the International Accounting Standards Board ("IASB")‚ an independent‚ international organization
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_________________________________________ 16 Product Responsibility _______________________________________________ 18 Social Compliance _____________________________________________________ 19 SUSTAINABILITY REPORT 2012/13 Chairman’s Message Welcome to NOMAN Group’s 2012-2013 Sustainability Report. We hope this report demonstrates our true commitment to environmental and social sustainability at Noman Group. It shows that even during economic slow-down‚ our company did not deviate from our promise; we redoubled
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IFRS 13 Fair Value Measurement applies to IFRSs that require or permit fair value measurements or disclosures and provides a single IFRS framework for measuring fair value and requires disclosures about fair value measurement. The Standard defines fair value on the basis of an ’exit price’ notion and uses a ’fair value hierarchy’‚ which results in a market-based‚ rather than entity-specific‚ measurement. IFRS 13 was originally issued in May 2011 and applies to annual periods beginning on or after
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