Semester 1‚ 2013 Subject: ACC 202 Financial Reporting Subject Lecturer/Tutor: Mr Lye Kok Keong Telephone: 03-20958791 Fax: 03-20957063 Room: 22‚ KPD Block B‚ Level 4 Email: lyekk@help.edu.my Consultation: Please call or email for appointment 1 PRE-REQUISITE(S) ACC101 ACC203 FINANCIAL ACCOUNTING 1 FINANCIAL ACCOUNTING 2 SYNOPSIS ACC202 Financial Reporting builds on the knowledge acquired from ACC101 Financial Accounting 1 and ACC203 Financial Accounting 2. This subject requires
Premium International Financial Reporting Standards Balance sheet Financial statements
Abstract XBRL (eXtensible Business Reporting Language) is a standard XML reporting language to enhance the efficiency‚ reliability and accuracy of financial reporting. Since its foundation in 1998‚ XBRL has been developing rapidly in the world. This paper teases out and discusses the literature researches of XBRL from 6 aspects: the production bases of XBRL‚ the effect of XBRL‚ the classification criteria formulation of XBRL‚ the auditing assurance of financial reports based on XBRL‚ the implementation
Premium International Financial Reporting Standards
conceptual framework is a statement of theoretical principles that provides guidance for financial accounting and reporting. (Collins & Hussey‚ 2007). It therefore prescribes the nature‚ function and limits of financial accounting and financial statements. The IASB’s Framework for the preparation and presentation of financial statements sets out the concepts that underlie the preparation and presentation of financial statements that external users are likely to rely on when making economic decisions
Premium International Accounting Standards Board Standardization International Financial Reporting Standards
hired by XYZ corporation‚ a publicly traded‚ multinational corporation to assess how the implementation of the International Accounting Standards (IAS) will affect the financial reporting of XYZ corporation. Your job is not only to assess the impact of the IAS on financial reporting but to provide recommendations to the XYZ corporation for adhering to these standards. 4. Your company wants to enter into a major new venture (e.g.‚ develop a new product line‚ establish a new market‚ create a presence
Premium Marketing Management Quality assurance
for external reports‚ but mostly it is used for internal purposes. External reports don’t not need to be as detailed. Some cost are reported‚ however breakdowns may not be included. Grenzplankostenrechnung (GPK)‚ roughly translating to "flexible standard costing‚" is the costing systems used heavily in Germany and other European countries. Companies that use GPK work towards identifying cost behaviors‚ traceability‚ relevance to decision making‚ and cost period measurement. The main idea behind GPK
Premium Management accounting Cost accounting International Financial Reporting Standards
Protection Act’ (in the Senate) and ’Corporate and Auditing Accountability and Responsibility Act’ (in the House) and commonly called Sarbanes–Oxley‚ Sarbox or SOX‚ is a United States federal law enacted on July 30‚ 2002‚ which set new or enhanced standards for all U.S. public company boards‚ management and public accounting firms. It is named after sponsors U.S. Senator Paul Sarbanes (D-MD) and U.S. Representative Michael G. Oxley (R-OH). The act was approved by the House by a vote of 423 in favor
Premium International Financial Reporting Standards Financial Accounting Standards Board Operational risk
Commission (SEC) and the Financial Accounting Standards Board (FASB) have worked tirelessly to create a system that works; our Generally Accepted Accounting Principles (GAAP) provide guidelines that we can trust. The International Accounting Standards Board (IASB) seeks to accomplish the same mission on a global scale through the International Financial Reporting Standards (IFRS). The goal of IFRS and US GAAP convergence is “to create a common set of high quality standards” that will “improve the
Premium International Financial Reporting Standards Financial Accounting Standards Board Financial statements
CHAPTER 1 Financial Reporting and Accounting Standards ASSIGNMENT CLASSIFICATION TABLE Topics Questions Cases 1. Global markets. 1 2. Environment of accounting. 2‚ 3‚ 4 4‚ 5‚ 7 3. Objective of financial reporting. 5‚ 6‚ 7‚ 8‚ 9‚ 10 2 4. Standard-setting organizations. 11‚ 12‚ 13‚ 14‚ 15‚ 16‚ 17‚ 18 1‚ 3‚ 6 5. Financial reporting challenges. 19‚ 20‚ 21‚ 22‚ 23‚ 24‚ 25 8‚ 9‚ 10 6. Ethical issues. 25 11‚ 12 Copyright
Premium International Financial Reporting Standards Financial statements International Accounting Standards Board
Financial reporting framework in Bangladesh Legal framework The Companies Act of 1994 provides basic requirements for financial reporting by all companies in Bangladesh. It is silent about either Bangladesh Financial Reporting Standards (BFRS/BAS) or International Financial Reporting Standards (IASs/IFRSs). o Listed companies. The Securities and Exchange Commission of Bangladesh regulates financial reporting by listed companies. SER 1987 requires compliance with IASs/IFRSs as adopted in Bangladesh
Premium International Financial Reporting Standards International Accounting Standards Board
1: Introduction to financial accounting theory QUESTION 1 – Question 1.2: If you developed a theory to explain how a person’s cultural background influences how they prepare financial statements‚ would you have developed a positive theory or a normative theory? QUESTION 2 - Question 1.3: What is a conceptual framework‚ and would it be considered to be a positive or a normative theory of accounting? QUESTION 3 – Question 1.27 (NEW): The International Accounting Standards Board has a number
Premium International Financial Reporting Standards Balance sheet International Accounting Standards Board