accordance with (1) U.S. GAAP for reporting to its U.S.-based lender and (2) IFRSs in reporting to its parent. U.S. Operations In addition to other assets‚ Ida owns and operates a commercial building in the United States that is carried at its cost less any accumulated depreciation and any accumulated impairment losses. As of December 31‚ 2010‚ the building represents: A cash-generating unit (CGU) under IFRSs. A long-lived asset classified as held and used under U.S. GAAP. In December 2010‚ one
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following GAAP Proposed ASU help entities determine how to use liquidation basis of accounting and associated disclosures Background: Health and Welfare Benefit Plans Health and welfare benefit plans part of this proposed amendment‚ as well as defined benefit and contribution pension plans New accounting treatments applied to determine measurement Assess how changes will effect affect recognition and disclosures of financial reporting Recognition: New Provision Current GAAP New ASU
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movement will have a significant influence on Canadian business such as capital markets‚ financial statement preparers‚ the accounting profession‚ and even accounting students. Investors are eager to understand the differences between IFRS and Canadian GAAP. The public companies should be ready to follow IFRS in January‚ 2011. Even private companies should fit their businesses into the new environment. Therefore‚ most Canadian companies care about what issues IFRS deals with. In our report‚ we will
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the scapula. The second group consists of the deltoid‚ biceps‚ and triceps muscles. The third group includes the muscles of the rotator cuff which consist of the subscapularis‚ the supraspinatus‚ infraspinatus‚ and teres minor muscles (Thibodaux & Patton‚ 2002). There are a few other roles the scapula plays in the functioning of the shoulder. The first is being a stable part of the glenohumeral articulation. This has to do with the ball-and-socket relationship the scapula has with the humerus and
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Q1 Answer: The numbers in the Financial Statement were different under the two methods because under the non-GAAP accounting method apple gave the revenue numbers without the use of subscription accounting‚ which recognized the revenue at the point of sale. Moreover the non-GAAP numbers did not adjust the estimated costs associated with its plan to provide new features and software upgrades to iPhone buyers free of charge and these figures were not prepared under a comprehensive set of rules or principles
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1. According to U.S. GAAP‚ revaluation is not permitted for all types of intangible assets. Under IFRS‚ revaluation to the fair value of intangible assets other than goodwill is an allowable alternative treatment. This is a good difference between U.S. GAAP and IFRS. Sometimes‚ intangible assets do change rapidly over time. For example‚ a trademark may not be noteworthy at the transaction. However‚ as the company becomes larger and larger‚ the underlying value of the trademark would increase significantly
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References: Cohen‚ H. You Can Negotiate Anything‚ Secaucus‚ NJ‚ Lyle Stuart Inc.‚ 1980 Fisher‚ R.‚ Ury‚ W.‚ Patton‚ B. Getting to Yes: Negotiating Agreement without Giving In‚ 1991. Lewicki‚ R.‚ Barry‚ B.‚ Saunders‚ D. Negotiation‚ NY‚ NY‚ McGraw Hill ‚ 2010 Meredith‚ J‚ Mantel‚ S. (2012). Project Management‚ A Managerial Approach. (8 ed.). Hoboken: Wiley. Simmons
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for--to improve on life‚ and give it the illusion of form and purpose. Denzel Washington and Will Patton are the stars‚ two football coaches‚ one black‚ one white‚ whose lives are linked for a season‚ even though neither wants it that way. In 1971‚ a high school in Alexandria‚ Va.‚ is integrated‚ and the board brings in Coach Boone (Washington) as the new head coach‚ replacing Coach Yoast (Patton)‚ who is expected to become
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Introduction The United States is currently going through a big decision. It is deciding on whether to fully adopt International Financial Reporting Standards (IFRS)‚ or to stay with the current U.S Generally Accepted Accounting Principles (GAAP). Since this is such a major decision‚ now would be an opportune time to take a look at what the pros and cons would be of switching to this new way of financial reporting‚ and in doing so‚ show why I believe the costs (both financial and otherwise) are
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across all geographical areas. The Financial Accounting Standards Board (FASB) is the independent body that is responsible for the creation of GAAP. The board is the standard setting body in charge of standards for nongovernmental companies operating in the United States. Since 2002‚ the IASB and FASB have been working together to improve and converge U.S. GAAP and IFRS. The United States is not the only country working toward convergence‚ as of 2009‚ Japan and China were both working toward convergence
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