Greek & Roman Cultures HUMA215-1204A-20: Topics in Cultural Studies Jasmin I. Caddel American InterContinental University August 26‚ 2012 Greek & Roman Cultures | Greece | Rome | Geographical Terrain | Mediterranean‚ hilly country sides‚ near water‚ has many islands‚ Further south located than the Romans; The Greek did not have an empire and none of the cities were able to become dominant over the others | Mediterranean‚ just a few coastlines‚ mountain sides; Further north located
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Financial Accounting Standard Board (FASB)‚ private non-profit organization responsible for developing and interpreting the (GAAP) in the United States but it is not affiliated with US government. Two committees were created by the AICPA in 1971. The Wheat committee was in charge of determining how the accounting principals were to be established. This committee suggested that the original accounting principal board be eliminated and it was replaced with the FASB “this new board was to comprise representatives
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using national standards. It was argued that a common set of practices will provide a “level playing field” for all companies worldwide (Murphy‚ 2000). IFRS are standards and interpretations adopted by the International Accounting Standards Board (IASB). They include: International Financial Reporting Standards (IFRS)‚ International Accounting Standards (IAS) and interpretation originated by the International Reporting Standards Interpretation Committee (IFRSIC) (Oyedele‚ 2011). IFRS represent a
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on industry‚ but the criteria listed by Topic 13 are generally applied when recognizing revenue. Guidance for industry specific principles are covered under other U.S. GAAP pronouncements. Also under U.S. GAAP‚ “any costs or losses that may be expected in connection with any returns shall be accrued in accordance with FASB St. No. 5 Accounting for Contingencies. Sales revenue and costs of sales reported in the income statement shall be reduced to reflect estimated returns” (FAS 48 par. 7).
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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 like to give a brief description how U.S. GAAP differ from IFRS and why we need both of them. The International Financial Reporting Standards are destined to be the language of the accounting world. This
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determine whether or not those actions are sufficient enough to address the problem. After only two decades of its origin in 1988‚ SIVs quickly earned it share and grew until it accounted for roughly 5% of the U.S corporate debt market which was equivalent to above than $400 billion in assets by 2009 (Ehrlich‚ 2009). That was because SIVs helps banks gain profits (from the difference between short-term cost of financing and longer-term returns from investments) and extent lending; and at the same
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Generally Accepted Accounting Principles (GAAP) are adopting the International Financial Reporting Standards (IFRS) in the preparation and presentation of their financial statements. The IFRSs are issued by International Accounting Standards Board (IASB) and the adoption of IFRSs is having a growing influence on national accounting requirements and practices. This chapter discusses the adoption of IFRSs and other aspects of standard-setting environment in Malaysia. 2.0 Development of Financial
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Trademark Subsequent to the release of the Exposure Draft issued by the FASB and IASB in June 2010 the Boards received a number of comments and is currently reviewing and analyzing these comments. A revised draft of the Exposure Draft is expected in Q3 of 2011. We encourage users of this case study to follow this project and review the FASB’s and IASB’s Web site for updates. Case 04-9: Healthcare Depot On April 22‚ 2011‚ the FASB issued a Proposed Accounting Standards Update‚ IntangiblesGoodwill and
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Often‚ the rules and regulations created by governing bodies are reactions to societal events and pressures. This pattern certainly holds true in regards to financial reporting. The first financial reporting regulations were set in place during the Great Depression in reaction to the stock market collapse of 1929. These regulations were The Securities Act of 1933 and The Securities Exchange Act of 1934‚ which established the Securities and Exchange Commission (SEC) and became the foundation for future
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foundation so as to strengthen the development of accounting standards. The purpose of conceptual framework is to assist the IASB in developing a consistent basis for upcoming accounting standards that are principles-based‚ internally dependable‚ globally converged and also examine the existing ones. [ifrs.org‚ 2012] International Accounting Standards Board (IASB) The IASB framework defines the ideas and principles fundamental in the preparation of financial statements for presentation to widespread
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