Cruz 1 Week 8 Assignment 1 IFRS and GAAP Convergence Janet Rivera Cruz Prof. Basil Jackson Accounting 304 December 2‚ 2012 Cruz 2 The purpose of this paper is to describe what accounting convergence means and assess the likelihood of the convergence being completed and implemented in the next five (5) years. IFRS is the principle based set of standards that establish standards and dictate specific treatments. IFRS has become a global standard for companies
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ACC 497 Individual Assignment - FASB System Orientation Week 1 Individual Assignment FASB Codification System Orientation Paper Name ACC 497 Date Instructor ------------------------------------------------- Feedback from Instructor (Published: Mon 11/12/2012 07:00 AM MST) ------------------------------------------------- Earned Points: 5/5 ------------------------------------------------- Comments: GREAT JOB FASB Codification System Orientation Paper The purpose of this paper
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| MEXICAN GAAP (MEXICAN FRS) | US GAAP | Inflation | Effects of inflation should be recorded on the financial statement.Included in the results of operations is a gain or loss from monetary position that represents the inflation gain or loss from maintaining net monetary liabilities or assets‚ respectively. | In the U.S. GAAP no gain or loss on monetary position is recognized in the financial statements. | Deferred Taxes | Mexican GAAP recognizesDeferred tax effects for all transactions that
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combinations of parenting behaviors that occur over a wide range of situations‚ creating an enduring child rearing climate. There are four different types of child rearing called authoritative child rearing‚ authoritarian child rearing‚ permissive child rearing‚ and uninvolved child rearing. The first‚ authoritative‚ is the most successful and includes high involvement‚ acceptance and adaptive control techniques. The second is authoritarian with low acceptance‚ involvement‚ and high coercive
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working on with regard to the replacement of GAAP (Generally Accepted Accounting Principles) with IFRS (International Financial Reporting Standards) as used in the accounting and financial reporting aspects. Such convergence requires that the functions of the GAAP standards be added to the IFRS. The International Accounting Standards Board (IASB) developed the IFRS which is a less-detailed financial reporting system. This paper seeks to analyze the GAAP and the IFRS‚ their mandate and functions.
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Based on these studies‚ I personally would use the authoritative style in order to meet the needs of both my children and myself . As a future parent‚ I would love for my children to grow up happy and healthy. I would love for them to develop into strong‚ successful human beings. This is my reasoning for selecting this style of parenting. Each child develops at different rates. I believe that authoritative is the best way to go when it comes to raising a child. I want my children to grow up successful
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Composition 1301-P78 2013‚ April 15 Authoritative Parenting: The Most Effective Parenting Children are impacted by so many things in life‚ parents being the most influential. The methods in which parents raise their children impact their development as well as their behavior. Not every child is the same‚ so children from different backgrounds can be extremely similar and children from similar backgrounds could grow up with entirely different personalities. “Psychologist Diana Baumrind
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The FASB is a private and not for-profit organizations and their primary goal is to establish and improve generally accepted accounting principles in the public’s interest. FASB established in 1973 and it’s starts giving the financial solutions for public and private companies and non-profit organizations. FASB is responsible for setting accounting standards for public‚ private companies and organizations. There are currently seven members’ who are at the top position of this organization. The magazines
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The Financial Accounting Standards Board (FASB) started in 1973 to provide standards for private sector companies to prepare their financial statements. The Securities and Exchange Commission (SEC) recognizes the standards given by the FASB as authoritative as long as the FASB fully acts in public interest. FASB standards are used by companies in the United States and IASB standards are used for companies in other areas of the world (Schroeder‚ Clark‚ & Cathey‚ 2011). The International Accounting
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compared to GAAP‚ and its inability to improve the present system. I. Introduction A. Current events about the topic (status quo) B. Definition of Generally Accepted Accounting Principles and International Financial Reporting Standards C. Thesis statement II. Body A. Major detail #1: The major difference between IFRS and GAAP is that IFRS requires more discretion and that GAAP is more principles based and detailed (Yoon‚ 2009). Minor detail #1: Differences between U.S. GAAP and IFRS
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