Chapter 1: Overview—The Financial Statements Chapter 1 introduces the four financial statements--Income Statement‚ Statement of Retained Earnings‚ Balance Sheet‚ and Statement of Cash Flows. Accounting as the language of business is discussed along with an introduction of the various users of accounting information. Financial and Managerial accounting are compared. The four ways to organize a business – proprietorship‚ partnership‚ limited – liability company‚ and corporation‚ are discussed
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2011‚ the Accounting Standards Review Board (ASRB) ceases to exist in New Zealand. 1. What is the ASRB to be replaced with‚ and what will be the statutory authority of this new organisation? The current authoritative accounting board is Accounting Standard Reporting Board (ASRB). This board reviews and approves financial reporting standards and their amendments‚ give directions as to authoritative support of accounting policies and encourage development of financial reporting standards. This
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(INT) P2 Corporate Reporting (International) Study Programme 1 2 3 4 5 6 Page Introduction to the paper and the course............................................................................................................... (ii) The financial reporting framework .............................................................................................................. 1.1 Professional and ethical duty of the accountant ..............................................................
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judgment. A significant variable in the analysis of foreign securities is various accounting standards. The accounting standard of United States (US) and United Kingdom (UK) and identifies the major differences that materially impact the Tangible Assets‚ Goodwill‚ Inventory‚ Auditing‚ and financial statements. The study is helpful in evaluating the financial statements of UK companies and comparing them with US financial statements. U.K was one of the initial and first countries in the world to expand
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The need for and an understanding of a conceptual framework This topic forms most of Section A (and has an influence on Section B) of the syllabus for Paper F7‚ Financial Reporting. A conceptual framework is important to the understanding of the many principles and concepts that underpin International Financial Reporting Standards (IFRS) and is an often-neglected part of candidates’ studies. Questions from these areas regularly appear in Paper F7 exams – usually as Question 4 – and I often comment
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ACCG 224 Intermediate Financial Accounting Assessment Guide Session 1‚ 2014 Note – this is NOT the Unit Guide The official Unit Guide is available online and is accessed separately through iLearn of this unit. The assessment guide should be read in conjunction with the Unit Guide. Department of Accounting and Corporate Governance 1|Page Session: Unit Convenor: Prerequisite: Credit points: 1‚ 2014 Rajni Mala ACCG101 - Accounting 1B ACCG224 is a 3 credit point unit. Students
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Evolution of Financial Accounting Introduction Accountancy is the art of communicating financial information of a business entity to its stakeholders. It is the branch of mathematical science that assists in discovering the causes of success and failure in a business. The American Institute of Certified Public Accountants (AICPA) defines accountancy as "The art of recording‚ classifying‚ and summarizing in a significant manner and in terms of money‚ transactions and events which are‚ in
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we often think of the field of accounting as a single discipline‚ there are‚ in fact‚ several specialties that are practiced. These include financial accounting‚ managerial accounting‚ tax accounting‚ cost accounting‚ international accounting and social accounting‚ among others. Of these‚ the former two classes of accounting are the most common. This paper will explore the key differences between financial and managerial accounting and discuss some of the standards of ethical conduct placed on management
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Kong Accounting Standard 27 Consolidated and Separate Financial Statements* * This HKAS 27 is applicable for annual periods beginning on or after 1 January 2005 but before 1 July 2009. HKAS 27 (Revised) issued in March 2008 is applicable for annual periods beginning on or after 1 July 2009 and supersedes this HKAS 27. 1 HKAS 27 COPYRIGHT © Copyright 2008 Hong Kong Institute of Certified Public Accountants This Hong Kong Financial Reporting Standard contains International Accounting Standards
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ACCY 200: Financial Accounting 11A Subject Outline Subject Information Semester One‚ 2015 Offshore Campus (INTI International College Subang) Lecture Information: 3 hour lecture‚ 1 hour tutorial Pre-requisites: ACCY112 or ACCY102 Co-requisites: Nil Online Subject Material: http://www.uow.edu.au/student/index.html Teaching Staff Teaching Role Lecturer and tutor Name Ms. Kanagambikai.Nathan Telephone To be advised Email Kanagambikai.nathan@newinti.edu.my Room UOW Programme Office Consultation
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