History of International Financial Reporting Standards (IFRS) …………… 2 2. Advantages and Disadvantages of Adopting IFRS ……………….. 4 2.1. Advantages…………………………………………………………………………4 2.2. Disadvantages………………………………………………………………………………..5 3. Similarities and Differences between IFRS and U.S.GAAP......6 3.1. Similarities between IFRS and U.S. GAAP.......................................7 3.2. Differences between IFRS and U.S. GAAP……………………………………..10 4. International Accounting Harmonization…………………………
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406 ACC 2301 INTRODUCTORY MANAGEMENT ACCOUNTING Section 011 (Monday) Final Exam‚ Winter Term 2012 (May 25th‚ 2012‚ 1:10 p.m. - 3:10 p.m. in Room TRS2-147) INSTRUCTIONS TO STUDENTS: 1. This 2-hour test consists of 5 questions (7 pages). 2. Marks total 45. 3. All questions must be answered on this paper in the spaces following the questions. Pages are not to be separated and all pages must be submitted without exception. 4. Calculator (model Royal XE24 or XE36
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Target Company Selection Process The target company we decided on for our financial analysis is General Electric. At first we were looking at Starbucks‚ as it is a rapidly growing multinational corporation‚ but after some research we discovered that the earnings per share growth of Starbucks is 40.2%. Therefore Starbucks did not meet the requirement set at 50% EPS growth to be considered a truly “rapidly growing company”. We then continued our research and were able to find that General Electric
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Interpreting Financial Statements An important factor to the success of a small business is understanding financial statements. Financial statements are very important and critical to a business’ journey to economic success. According to Edmonds‚ Olds & Tsay‚ (2008)‚ when used properly‚ financial statements can act as a basis of information for business valuation. Another important and useful indicator when determining a business’ performance and financial situation are financial ratios. Financial
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is a vital component of a business strategy as it not only helps the environment‚ but it wins the trust of communities and gains the respect of the governments of the countries in which the business operates. All businesses impact on the environment: they emit pollution‚ they produce waste and use resources. Businesses‚ however‚ are continually being encouraged to improve their approach to environmental issues. To the casual observer‚ the greening of mainstream business may appear to be a recent
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HI5001 Accounting for Business Decisions Due Date: 29 May 2012‚ 12 p.m. Total Mark: 20 points General Rules and Requirements: The report should be prepared in a group (minimum 3 students in a group and maximum 4). Reports must be confined to 2‚500 words. A title page‚ table of contents (based on your report headings)‚ introduction‚ body of the report‚ conclusion and list of the references actually cited should be included in your assignment paper. Font type should be Times
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Masters of Business Administration – MBA Semester 1 MB 0041 – Financial and Managerial Accounting – Assignment Roll No. 1305015785 Name of the Student: Pallab Kakoti Email id: ksetrajna@gmail.com Mobile : 958 256 3250 Q1. Accounting is one of the oldest‚ structured management information system. Give the meaning of accounting and book keeping? Explain the objectives of accounting? Accounting‚ as an information system is the process of identifying‚ measuring and communicating the economic
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Financial Statements for Internal Reporting Purposes vs. Financial Statements for External Reporting Purposes It is common in most companies to maintain two set of financial statements; one being used/presented for internal reporting purposes and another for reporting externally. Internal reports are used primarily to aid management in the decision making process throughout the course of the business. These are subject to internal audit to make sure that all information reported are fair and correct
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Accountants follow professional guidelines for measurement and disclosure of financial information. These are called generally accepted accounting principles (GAAP). In the United States‚ the Financial Accounting Standards Board (FASB) formulates GAAP. The International Accounting Standards Board (IASB) sets global or International Financial Reporting Standards (IFRS)‚ the two basic types of external providers of capital include investors (who exchange cash for stock) and creditors (who loan cash)
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Ethical and Legal Viewpoints Geneva Moore Grand Canyon University Abstract Professional counselors are always confronted with “ethical dilemma” that arises from conflicts in maintaining standards of right or wrong in specific counseling practice. Therefore‚ counselors must be alerted to the professional ethical standard and use it as a guidance in rendering services to the clients. This paper will discuss volunteerism; the legal issues that can surface from volunteering‚ the legal
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