Week 2 Assignment ACCT 525 Professor Bender March 13‚ 2015 United Kingdom Adopted IFRS IFRS is a set of accounting standards promulgated by the International Accounting Standards Board (IASB)‚ an international standard-setting body based in London. It was designed as a common global language for business affairs so that company accounts are comparable and understandable across international boundaries (Ghosh‚ 2010). In June 2002‚ the European Union (EU) adopted an IAS Regulation requiring European
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Corporate Social responsibility: Shell Oil-Nigeria Case Study By Fatorma Bolley Abstract Corporate Social Responsibility‚ CSR has become an important element in the business strategy of a growing number of companies worldwide. A large number of initiatives have been developed that aim to support companies in developing‚ implementing‚ and communicating about CSR‚ Shell
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(January–April): 1–22. Bannister‚ J. W.‚ and Newman‚ Harry A. 1996. Accrual usage to manage earnings towards financial forecasts Barnea‚ A.; Ronen‚ J.; and Sadan‚ S. 1975. The implementation of accounting objectives: An application to extraordinary items Beidlerman‚ C. R. 1973. Income smoothing: The role of management. Accounting Review 48 (October): 653–67. Boot‚ A. W. A.‚ and Thakor‚ A. V. 1993. Security design. Journal of Finance 48 (September): 1349–78. Boot‚ A. W. A.‚ and Thakor‚ A. V. 1997. Financial system
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ĐỀ THI KIỂM TRA GIỮA KỲ Môn học: KẾ TOÁN QUẢN TRỊ (Managerial Accounting) Lớp: KT302DV01‚ HK10.1 Thời lượng: 6 0 phút (Không kể thời gian phát đề) Không được tham khảo tài liệu‚ Chỉ được sử dụng từ điển Anh – Việt‚ không sử dụng Kim từ điển Sinh viên làm bài trên đề thi Đề thi gồm 07 trang Họ tên sinh viên: …………………………………………………. Chữ ký và họ tên cán bộ coi thi 1 Chữ ký và họ tên cán bộ coi thi 2 Đ iểm thi Bằng số Đ iểm thi b ằng chữ ………………………………………………… MSSV: ………………………………………
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INTERNATIONAL HARMONIZATION OF ACCOUNTING Harmonization vs standardization Harmonization - A process of increasing the compatibility of accounting practices by setting bounds to their degree of variation. Eg. EU Commission Standardization – The imposition of a more rigid and narrow set of rules. Eg. IASB Reasons for harmonization Pressure comes from those who regulate‚ prepare and use financial statements. 1) Investors and financial analysts • Need to be able to understand
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http://smallbusiness.chron.com/difference-between-traditional-accounting-computerized- accounting-4021.html INTRODUCTION: Before the advent of fast and cheap computers‚ accounting traditionally was processed manually with all transactions recorded in columnar papers and kept in voluminous binders. Once computers became popular and software affordable‚ accounting tasks moved into this medium‚ where concepts stayed the same but mechanics changed from papers to programs. AIMS AND OBJECTIVE:
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Accounting Standards The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) are working on a joint venture known as the convergence project. With more business’s doing business globally financial reporting is an issue among the differing countries. Some countries report their financial differently‚ while the United States uses Generally Accepted Accounting Principles (GAAP) the convergence project aims at making a uniform set of international accounting
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Will there be one set of accounting standards in use through out the world in the next five years? The SEC (Securities and Exchange Commission) which oversees the accounting practices of publicly traded corporations. Is currently implementing plans for the convergence of GAAP into the IFRS as the standard for the U.S. and the world. Currently 110 developed‚ mid level‚ and developing countries use the IFRS as their accounting standard. The SEC has stated that they would like to converge to
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demanding increasing conformity. Many countries have converted to and implemented the International Accounting Standards Board (IASB)’s accounting standards. The United States‚ however‚ still maintains its own Financial Accounting Standards Board (FASB). Both IASB and FASB have created International Financial Reporting Standards (IFRS) and U.S. Generally Accepted Accounting Principles (U.S.GAAP) respectively. These accounting standards are rules of measurements for financial statements that companies issuing
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Chapter 2—The External Environment: Opportunities‚ Threats‚ Industry Competition‚ and Competitor Analysis TRUE/FALSE 1. The health-related concerns in the general environment facing Philip Morris International are part of the physical segment. ANS: F PTS: 1 DIF: Medium REF: 36 OBJ: 02-01 TYPE: comprehension NOT: AACSB: Ethical & Legal understanding | Management: Ethical Responsibilities | Dierdorff & Rubin: Managing the task environment 2. The external environment facing business stays relatively
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