EXCELSIOR UNIVERSITY JOSEPH S. SPERANZA MODULE 1 ASSIGNMENT 1 “GAAP VERSUS IFRS” ACC211/ FINANCIAL ACCOUNTING MRS. SMITH 13 JAN 13 The United States Generally Accepted Accounting Principles (U.S. GAAP) and the International Financial Reporting Standards (IFRS) are both effective ways to report financially account for one’s business assets but they have several differences. in this paper I will attempt to outline a few of the more significant differences and allow you to make up your mind
Premium Financial statements Generally Accepted Accounting Principles Balance sheet
we would first need to understand the IFRS and U.S. GAAP. We will first describe U.S. GAAP and IFRS by investments through property‚ associates equity method‚ and investments in joint ventures. Our research paper will compose of the nature of accounting issues‚ historical background of accounting rules in U.S. and IFRS‚ recognition and measurement rules‚ presentation and disclosure rules‚ and development along with the harmonization efforts of FASB and IASB. Before we start all of these‚ we would
Premium Balance sheet Financial statements International Financial Reporting Standards
in the accounting of financial instruments‚ particularly the delayed recognition of credit losses on loans. FASB and IASB began working together‚ but found irreconcilable differences in their solutions to this problem. Their main differences involved classification and measurement‚ recognition and derecognition and hedge accounting. One of the fundamental differences on which IASB and FASB disagree is the qualifying criterion of financial instruments. IFRS‚ unlike GASB has qualifying criteria that
Premium Asset Balance sheet Generally Accepted Accounting Principles
sector organization‚ established the Financial Accounting Standards Board (FASB) to establish and improve standards of financial accounting and reporting for nongovernmental entities. FASB has been the designated organization in the private sector for establishing standards of financial accounting that governs the preparation of financial reports by nongovernmental entities. The standards officially recognized as authoritative by the Securities and Exchange Commission are important to the efficient
Premium International Financial Reporting Standards Financial Accounting Standards Board
Authoritative Parenting Style: How Does It Effect Adolescent Development? Multiple studies have been conducted in the correspondence between child development‚ and the authoritative parenting style. The authoritative parenting style is defined as a “more moderate approach that emphasized setting high standards‚ being nurturing and responsive‚ and showing respect for children as independent‚ rational being. The authoritative parent expects maturity and cooperation‚ and offers children lots of emotional
Premium Childhood Parenting Parenting styles
IFRS US GAAP Swiss GAAP FER Summary of similarities and differences 2007/2008 Edition 1 IFRS – US GAAP – Swiss GAAP FER Summary of similarities and differences 2007/2008 Edition This PricewaterhouseCoopers publication is for those who wish to gain a broad understanding of the key similarities and differences between IFRS‚ US GAAP and Swiss GAAP FER. No summary publication can do justice to the many differences of detail that exist between IFRS‚ US GAAP and Swiss GAAP FER. Even if the guidance
Premium Balance sheet Generally Accepted Accounting Principles
Authoritative Parenting An authoritative parent actively participates in the parent child relationship by allowing open communication and dialogue along with defining clear rules and consequences. Balswick & Balswick (2014) describe “authoritative parenting” by saying: Authoritative parents attempt to direct the child in a rational‚ issue-oriented manner; encourage verbal give-and-take; explain the reasons behind demands and discipline but also use power when necessary; expect the child to conform
Premium God Jesus Christianity
Mattair Date: April 20‚ 2015 Subject: FASB Research Results and Recommendations The Financial Accounting Standards Board (FASB) website contains accounting information and is a good source for data pertaining to any issue. Answers to the information in question to leases and lease structure issues were found on the FASB website. Research was primarily focused on three lease types‚ direct financing‚ sales type‚ and operating leases. The information recovered can be used by the client in the evaluation
Premium Finance Financial Accounting Standards Board International Financial Reporting Standards
FASB Accounting Standards Codification: 410 Asset Retirement and Environmental Obligations Abstract The purpose of this research paper is to summarize research on codification topic 410 based on the information found in different academic databases. The first part of the paper will focus on the FASB Codification database. The second part of the paper will compare and contrast three other databases on the same codification 410 within the RIA Checkpoint databases: AICPA: Auditing
Premium Generally Accepted Accounting Principles Balance sheet Financial audit
here are three main styles of parenting authoritarian‚ authoritative‚ and permissive. Diana Baumrind discovered these styles of parenting while conducting studies on the different facets of parenting‚ expressions of warmth‚ strategies for discipline‚ communication and expectations for maturity (Berger‚ 2014). Children reflect these three styles in their different emotional‚ psychological‚ and behavioral outcomes. Parenting should reflect a thorough understanding of the principles set forth in
Premium Parenting styles