finance and accounting: • The Financial Accounting Standards Boards (FASB) o This body is responsible for setting standard for reporting information on finances to the public. The principles of the GAAP are used to establish the standards set by this governing body. The body is responsible to protect investors and the public from companies that may commit fraud. This brody serves as a source to resolve issues surrounding accounting and reporting issues. • Internal Accounting Standards Board (IASB)
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The Financial Accounting Standards Board (FASB) has been working for ten years to bridge the gap between the United States’ Generally Accepted Accounting Principles (GAAP) and the International Accounting Standards Board (IASB). As part of this movement‚ Russell Golden‚ the chairman of the FASB‚ indicated that he would like to focus on making corporate disclosures more consistent. By doing so‚ it would be easier for investors to compare companies from different sectors. The FASB is “working on a
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“internal consistency” of accounting standards is Any entity intends to create its own standard must in accordance with the existing system of standard 2. In order to achieve “internal consistency”‚ the necessary factors are as follow: a) Any entity intends to create its own standard must in accordance with the existing system of standard b) Developing standards are correspondence with the same conceptual framework. It is necessary to establish an accounting law or principle to regulate
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The place of measurement is crucial in accounting. Measurement is vital to accountants for recording‚ summarising‚ reporting financial transactions and preparing financial statements that should indicate the true position of an entity. However‚ accounting measurement issues are seen to be problematic as many measurements are derived. According to Mary E. Barth (2007)‚ an analysis regarding the latest activities of the International Accounting Standard Board (IASB) have revealed that the use of
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AC1010 Financial and Management Accounting for Managers Course Work for Semester 2 Submitted by: Emerson K.Yip G-number: Date: May 1‚ 2013 Table Content : Page 1. Calculation of Standard Cost per unit for each of the products 3 2. Reconciliation Statement between Standard cost at actual 7 production and Actual Cost of Production. 3. List of possible reasons for each of the variance
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the relationship between culture‚ mental illness‚ help seeking‚ recovery‚ and social policy. Culturally incompetent clinical services are unacceptable‚ . Professional associations and licensing organizations must include culturally competent standards and guidelines in their expectations for accreditation‚ membership‚ and credentialing. Historically‚ mental health policies‚ systems‚
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to the safe point safely before the zombies overwhelm the building. To get out of the lab you have to roll a 6 on the die to get each scientist out. Getting out of the lab‚ you will have to go around about 45 -50 blocks on the board clockwise to get to the center of the board which is the safe point. The safe point can hold just four scientists of one lab at a time‚ so the first player to get all of his/her scientists to the safe point is the winner‚ then every other player has to battle for who is
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There is no impairment of goodwill. It is group policy to value non-controlling interest at full fair value. At the acquisition date the non-controlling interest was valued at $9‚000. Prepare the consolidated statement of financial position of Ping @ 30.6.X8. Statement of Financial Position @ 30.6.X8: Ping Co $ Pong Co $ ASSETS Non-current assets Property‚ plant & equipment 20‚000 ordinary shares in Pong at cost Current assets Inventory Owed by Ping Co Receivables Cash 50‚000
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Executive Summary The Objective of this report is to practise the analysis of possible scales and scopes of an engineering organization and to recommend and suggest ways to utilize them fully. The organization chosen for the analysis Ceylon Electricity Board (referred to as CEB hereafter)‚ which is the Sri Lankan government organization for generation‚ transmission and distribution of electricity for local industrial and domestic consumption. Following a general introduction to the services
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Abstract The observance of international accounting standards is playing an increasingly significant role in dynamic regulatory developments and presents several challenges‚ which may necessitate a variety of procedural and technical data processing changes. Regulatory consolidation under the influence of international accounting standards The observance of international accounting standards is playing an increasingly significant role in dynamic regulatory developments. On the one hand‚ publicly
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