following? a. Calculating profit or loss b. Protecting investors from fraud c. Demonstrating accountability d. Reporting to management Answer: c 4. For which types of organizations is the Financial Accounting Standards Board (FASB) responsible for establishing accounting and financial reporting standards? a. Business-type organizations and not-for-profit organizations‚ including not-for-profit colleges‚ universities and health care providers b. Business-type organizations;
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Reporting Paper Papa Rydoo ACC541 October 25‚ 2010 School of Business/Leslie Crews Reporting Paper INTERNAL MEMORANDOM To: CEO From: Papa Rydoo Date: October 25‚ 2010 Reference: Postretirement Plans Introduction Acquisition of a company leads to many changes in the company and especially in the area of the retirement benefit plans for our company. It is complicated adjusting to benefits plans but with the required reporting‚ the transition will be smooth. The different types of
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MBA PROGRAM PREPARED BY: - ID NO 1. BISRAT ALBACHEW GSR/2005/06 2.ISRAEL BIRHANU GSR/2021/06 3.SIYUM MENDA GSR/2034/06 4.YIBELTAL BITEW GSR/2041/06 SUBMITTED TO:- INSTRUCTOR: Dr.P. Laxmikantha December 2013 Table of content Title
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Use the Search pronouncements by reporting period page to find the version of each Standard that applies to any particular reporting period. Use the RDR early application versions page to find the non-mandatory RDR versions of Standards. Where a Standard has been amended and a compiled version has been prepared‚ the compiled version is listed below. The original Standard (including the Preface) and any previous compiled version can be found using the Browse for pronouncements page (select "no"
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References: • INSTITUTE OF CHARTERED ACCOUNTANTS OF NIGERIA STUDY PACK • THE NIGERIAN ACCOUNTING STANDARDS BOARD ACT‚ 2003 • Financial Reporting Council of Nigeria Act‚ 2011 – Web Base • IASB Conceptual Framework FW 2010 –Web base • International Financial Reporting Standards – Advantages- Web base
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Internationally‚ more than 100 countries have adopted International Financial Reporting Standards IFRS or IFRS equivalents‚ including all EU countries and major Asian countries such as Hong Kong and Singapore which have adopted IFRS almost in their entirety. (KPMG‚ 2006‚ pp.11) The adoption of IFRS in Australia through the Australian equivalents of International Financial Reporting Standards (AIFRS) since the beginning of 2005 has reflected how Australia is also part of global momentum for consistency
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need. History International Financial Reporting Standards (IFRS) are principal based standards that are issued by the International Accounting Standards Board (IASB). IFRS include International Accounting Standards (IAS) that were issued between 1973 and 2001 by the International Accounting Standards Committee (IASC). In April of 2001 the IASB took over the responsibility for setting International Accounting Standards. The International Accounting Standards Board website has provided a timeline of the
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Ford vs. Toyota Ford Motor Company is the second-largest automobile company in the world. Ford’s main focus is automobiles; however‚ they also operate in Ford Credit and Hertz Corporation. Ford also has controlling interest in Mazda Motor Corporation. Ford was established June‚ 1903; in an old wagon factory in Detroit Michigan. In 1903‚ Ford began production on a two-cylinder‚ 8 horsepower called the Model A. They produced a total of 1‚708 of these cars in their first year of operation. Toyota
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accounting standards were evolved. There are two major standard setting bodies in the world. These are the U.S Financial Accounting Standard Board (FASB) – the standard they created is called the US GAAP (Generally Accepted Accounting Principles). American companies create statements that follow the US GAAP and the International Accounting Standard Board (IASB) – the standard they create is IAS or IFRS. As far back as 1967 the Accountants International Study Group (AISG) began a foundation to publish
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International Financial Reporting Standards issued by the International Accounting Standards Board (IASB). Nearly 100 countries use or coordinate with IFRS. These countries or groups of countries include the European Union‚ Australia‚ and South Africa. While some countries require all companies to adhere to IFRS‚ others merely allow it or try to coordinate their own country’s standards to be similar. The IASB is working toward this goal in a partnership with some of the most influential accounting standard-setters
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