adoption of IFRS by US companies a. The FASB will serve in an advisory capacity to the IASB. b. The FASB will remain the designated standard-setter for US companies‚ but incorporate IFRS into US GAAP. c. The role of the FASB post-IFRS adoption has not been determined. d. The FASB will cease to exist. 3. Milestones in the transition plan for mandatory adoption of IFRS by US companies include all of the following except a. Improvements in accounting standards. b. Limited early adoption of IFRS in an effort
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disclosure requirements (FASB‚ 2013). Finally these standards would help management decide where disclosure is appropriate. Alternative approaches In terms of alternatives IFRS defines going concern as the period in the foreseeable future (Finance Train‚ 2013). According to IAS 1 Presentation of Financial Statements “an entity preparing IFRS financial statements is presumed to be a going concern.” Furthermore if there are significant concerns about the ability to continue as a going concern‚ these uncertainties
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theories of accounting standards. Table of Contents INTRODUCTION On 29 April‚ 2012 Sleigh-Johnson‚ head of ICAEW ’s Financial Reporting Faculty said that “A US decision is really a critical part of the future success of IFRS. This is an once-in-a-lifetime change in global regulation and you just have to recognise there will be obstacles and delays”. Sleigh’s statement above mentions the important of role possess by US toward convergence to global accounting standard.
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Introduction With the rampant rise in globalization‚ one would find it rather difficult to disagree that the world is flat. If we agree with the aged old adage‚ ”accounting is the language of business” then business enterprise around the world cannot be affording to be speaking different language while exchanging different financial result so to make them more convenient different bodies have been formed all around the world . Below are some major bodies that has unified the accounting
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structured with customers. As a part of ongoing discussions to converge U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS)‚ some proposals to change revenue recognition have been discussed. The following will discuss revenue recognition as it stands under U.S. GAAP and IFRS‚ as well as proposed changes to the revenue recognition principle. Revenue Recognition under U.S. GAAP Staff Accounting Bulletin‚ Topic 13 states‚ “The staff believes
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Maths Coursework Factors that affect the second hand value of a car Contents page 1. Introduction 3 2. Types of sampling 4-5  Random sampling  Systematic sampling  Stratified sampling 3. Bar graph and Pie chart 5-6 4. My chosen method of sampling 6 5. Scatter diagrams 7-17  second hand price and age  second hand price and mileage  second hand price and engine size 6. Cumulative Frequency 18-35  1st set second hand
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IFRS 5 IFRS 5 is about non-current assets held for sale and discontinued operations‚ which state that the aims of disclosed discontinued operations and non-current asset disposal is to helped group of users of the financial statement to assess the financial effects. The definition of discontinued operation in IFRS may differ from other accounting standard‚ IFRS has defined discontinued operation is an asset or component of a company that either has been disposed or is regarded as held-for-sale‚ and
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opinion‚ there are many advantages that speak for IFRS and their further development and adoption worldwide. First of all‚ accepting an international set of accounting principles will dramatically decrease the costs for reconciling one company’s financial reports with another’s. Comparing financial statements nowadays is one of the biggest issues for many firms operating on the global market‚ as accountants across countries follow different rules. With IFRS this process will be much quicker and cheaper
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© Faculty of Economics‚ University of Kragujevac www. ekfak.kg.ac.rs Review paper UDC: 658.8.012.2:629.33(497.11) ; 005.521:334.7 doi: 10.5937/ekonhor1203165M APPLICATION OF ANALYTICAL NETWORK PROCESS IN FORECASTING AUTOMOBILE SALES OF FIAT 500 L Predrag Mimovic* Faculty of Economics‚ University of Kragujevac‚ Kragujevac‚ Serbia This paper describes the application of Analytic Network Process (ANP) in the modeling and analysis of various factors and the impact on the forecasting processes
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Autos Industry shows the following key points about Fiat ("ITALY AUTOS REPORT”‚ 2013): Fiat has an established presence and dominates local production. An increase in Fiat’s alliances with strong foreign carmakers is extending the company’s global reach and should help its finances. The resurgence of new model investment and sales has succeeded in reinvigorating the fortunes of Fiat and its Italian suppliers. Labor agreements reached between Fiat and the workers’ union will help secure future of
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