Background Smooth Sailing is a private company that operates one cruise ship. Recently‚ pirate activity in the area where the cruise ship operates has increased‚ thus affecting the cruise ship’s potential future cash flows. The cash flow decline has directly contributed to a decline in the overall fair value of the cruise ship. Smooth Sailing has determined three possible options for its future‚ along with the probabilities of occurrence and estimated cash flows (ECF): 1. Continue operating
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goods to a third party. This rule applies to both ASPE and IFRS standards. They currently recognize revenue upon shipment‚ however under the new IFRS 15 guidelines‚ this approach cannot be taken. In order to meet IFRS 15 standards‚ the five step model must be taken into consideration. The first step being the acknowledgement of a contract with a customer‚ which in the consignment issue‚ does not exist. The
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Commission (SEC) of the U.S. has recently proposed that all U.S. firms be required to issue financial statements in accordance with IFRS by 2014. Under IFRS‚ the rules for measurement of fixed assets are presented in IAS 16‚ which allows firms to choose either the cost model or the revaluation model. In this study‚ I investigate the effect of adopting the IFRS standard for fixed asset revaluation by examining the relationship between changes in revaluation reserves and stock prices. Out of
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Chapter One Introduction to International Accounting Learning Objective 1. Understand the nature and scope of international accounting. 2. Describe accounting issues created by international trade. 3. Explain reasons for‚ and accounting issues associated with‚ foreign direct investment (FDI). 4. Describe the practice of cross-listing on foreign stock exchanges. 5. Explain the notion of global accounting standards. 6. Examine the importance of international trade‚ FDI‚ and
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Sunday‚ September 26‚ 2010 from http://www.google.com/finance?q=NYSE:AMR Daimler AG. Retrieved on Sunday‚ September 26‚ 2010 from http://www.google.com/finance?q=ETR:DAI Financial Accounting Standards Board‚ (2010) http://www.fasb.org IFRS Foundation. (2010). IFRS. Retrieved from http://www.iasb.co.uk/ International Accounting Standards Board‚ (2010). Retrieved September 2010 from http:// www.iasb.org Macy’s Asset Utilization. Retrieved on Sunday‚ September 26‚ 2010 from http://ycharts.com/companies/M/asset_utilization
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(2009‚ December). The Financial Accounting Standards Board. Retrieved 2012‚4-April from www.fasb.org: http://www.fasb.org/cs/ContentServer?c=FASBContent_C&pagename=FASB%2FFASBContent_C%2FNewsPage&cid=1176155633483 6. IASB. (2011‚ May). The IFRS Foundation and the IASB. Retrieved April 13‚ 2012‚ from www.ifrs.org: http://www.ifrs.org/nr/rdonlyres/b8c43bf6-eb8b-4275-95fe-ee77335d5e51/0/consolidationeffectanalysis06092011.pdf 7. Khasawneh‚ R. (2007). Leaking like a SIV. Risk ‚ 20 (10)‚ 65-67
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Assignment 1: Research of Emerging Accounting Issues Abstract This paper I’ll research the most important impact that the mission of the Emerging Issues Task Force (EITF) exerts upon the Financial Accounting Standards Board (FASB); analyze the EITF’s effectiveness with finding resolutions to emerging accounting issues by research the issues from the EITF’s “Description and Status of Current Issues” such as 9/11 and analyze at least the primary manner in
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cost will be suffered by the society. b. Pennies are not worth the time to count or store in the current economic market. c. Pennies result in dead weight transaction in the economy. 2. Are U.S. coins fiat money or commodity money? Other than pennies and nickels‚ U.S. currency today is fiat‚ the face value being substantially more than the value of the metal or paper. 3. Why such a slow recovery? Name the explanations for the slow US recovery John Taylor reject. Explain his reasoning. Slow
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of the Student) UTPAL Kr. SINGH (Signature of the Student) UTPAL Kr. SINGH Place: Fiat India Automobiles Ltd. Ranjangaon - MIDC‚ Pune Date: 20.08.2013 ACKNOWLEDGEMENT I feel fortunate to get support of numerous sources and people in making this project a remarkable success. I take this opportunity to express my profound gratitude and thank to Mr Anand Swaroop Singh HOD ( Paint Shop ) of Fiat India automobiles Ltd Ranjangaon for his valuable guidance by giving me the knowledge for
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Financial Analysis & Management Assignments 1. Discuss the extent to which the legal and professional regulatory framework of accounting ensures that corporate reports provide reliable‚ relevant‚ objective‚ and comparable information to users. 2. Critically evaluate the importance of discounted cash flow techniques in investment decisions. Illustrate your answer with your examples. 3. Discuss the relative importance profitability and liquidity for the survival of a business and explain how the
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