Is goodwill impaired in the same way under IFRS? Does IFRS also employ a two-step approach for goodwill impairment testing? If not‚ how is goodwill tested for impairment under IFRS? (Refer to IAS 36 Impairment of Assets.) Both U.S. GAAP and IFRS require goodwill to be written down when impaired. There are some differences between U.S. GAAP and IFRS in recognizing and recording impairment‚ but in principle‚ the ultimate goal is the same. Both
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Assignment #1: You Are an Entrepreneur Student life does not generally afford a great deal of free time to pursue your personal interests; however‚ at one point‚ you may have considered turning a personal interest or hobby into an official enterprise. Today‚ you have finally decided to turn that hobby into a business but have realized that you need start-up capital from a lender or investor. To obtain funding‚ you need to convince a lender / investor that your business is more than a hobby. You need
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accounted for as either a capital lease or an operating lease. I will be limiting my discussion to the accounting treatment of leases by the lessee. This paper will discuss the current accounting treatment for the two types of leases according to Canadian GAAP and will tie in elements of the conceptual framework to the treatment of leases from CICA handbook section 1000‚ followed by a discussion on accounting theories related to lease treatment‚ and finally current issues outlined in academic research concerning
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Corporate governance Two definitions: ASX CGC: rules‚ relationship‚ systems and processes help a company to monitor and assess risk‚ optimize performance‚ create value and provide accountability. A narrow definition which consistent with agency theory focuses on relationship between company and shareholders. OECD: a system a company can be directed and controlled‚ specify rights‚ responsibilities and rules; set and achieve objectives and monitor performance. A board definition consider relationship
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GAAP and IFRSs by undertaking projects that both boards would address contemporaneously with the encouragement of the respective bodies to coordinate the activities and also its progress. The goal of the project was to attain compatibility by identifying
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Case 1-1 E-Centives‚ Inc.—Raising Capital in Switzerland 1. Possible factors (from Exhibit 1-7) relevant in e-centives decision to raise capital and list on the Swiss Exchange s New Market: a. Ease of raising capital (point 3). The Swiss Exchange s New Market has simple listing requirements designed to appeal to small companies. The contrast with the complex‚ detailed listing and reporting requirements in the United States is striking. b. Availability of capital (point
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the boards agreed on a Memorandum of Understanding (MoU) which detailed the short and long-term convergence projects “that would bring the most significant improvements to International Financial Reporting Standards (IFRS) and U.S. Generally Accepted Accounting Principles (US GAAP).” (IASB-FASB‚ 2012). While many of the short-term and long-term convergence projects have been completed‚ currently‚ the boards have yet to finalize all of the technical pronouncements regarding Financial Instruments
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A340/ACG3085 Section 03‚ Advanced Auditing Concepts & Standards. Financial Statements Financial Statements Prepared using Chinese and GAAP Standards Kobyashi Maru prepares two sets of financial statements; one set using Chinese standards and GAAP (as meager as those standards may be) and the other for use in the US attempting to conform to U.S. GAAP. The Chinese financials contain a single footnote describing the accounting principles used in the original books of entry. In the United States
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Accounting 3rd edition‚ Doupnik and Perrera‚ McGraw Hill/Irwin Publishing. (See in-class handout) • Electronic (or other) access to IFRS One option is: http://www.ifrs.org/IFRSs/IFRS.htm. The drawback to this site is that you do not get access to implementation guidance or the basis for conclusions. (The advantage is that the site provides the IFRS for free.) • Harvard Business School Press Case: Land Securities Group (A)‚ Product number 9-105-014‚ Author Ed Riedl; available at:
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1.1 Origin of the Report As part of the term paper of Evening Masters of Business Administration (EMBA) course requirement‚ we are assigned the topic “Carbon Accounting” by our course teacher for accomplishing our report. 1.2 Objectives of the report To attain the skill of report writing. To achieve deep knowledge about Carbon Accounting. To fulfill the partial requirement of our course of Accounting for Managers. 1.3 Methodology of the report This study was a descriptive research where
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