Comparing IFRS to GAAP Paper There are several differences between the International Financial Reporting Standards (IFRS) and the U.S. Generally Accepted Accounting Principles (GAAP). The IFRS is considered more of a "principles based" accounting standard in contrast to U.S. GAAP which is considered more "rules based." By being more "principles based"‚ IFRS‚ arguably‚ represents and captures the economics of a transaction better than U.S. GAAP. As a team me collaborated to answer the following seven
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Is the Difference in Accounting Treatment of Post-Retirement Benefits under IFRS Beneficial or Detrimental to the Financial Position of a Company Currently Reporting Under US GAAP? Megan N. Cook‚ CPA‚ CFE Accountancy 521 Professor Lawrence March 9‚ 2009 The first pension plan offered by an American employer was that of American Express in the year 1875. Amex’s plan did not resemble the plans that we see in today’s time; the first “modern” defined benefit plan was created
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Valuation project report Valuation of the Incentive Stock Options for Procter & Gamble Co. Name: Haining Jiang Company background: In this valuation project‚ I will analyze a company which is mature and I am interested in. The name of the company is Procter & Gamble Co. the Procter & Gamble Company‚ together with its subsidiaries‚ engages in the manufacture and sale of a range of branded consumer packaged goods. The company operates in five segments: Beauty‚ Grooming‚ Health
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The SEC released this statement in 2008‚ “We believe that IFRS has the potential to best provide the common platform on which companies can report and investors can compare financial information.” The SEC has created a “Roadmap” or plan to convert US GAAP over to IFRS. According to The Committee of Sponsoring Organization of the Treadway Commission (COSO) Analysis of Fraudulent Financial Reporting 1998-2007‚ the most common fraud technique involved improper revenue recognition. This fact emphasizes
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Three Differences Between Taiwan and the U.S. It is always possible to find some differences and similarities between two countries. There are so many aspects one can compare like topography‚ culture‚ education‚ language‚ economy‚ government and so on. Taiwan and the U.S. have three interesting differences: topography‚ culture and education. First of all‚ the topography of Taiwan island and American mainland is totally different. Because of this reason‚ the weather and the common transport modes
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high-cost‚ intensive medical intervention is rewarded over higher-value primary care‚ including preventive medicine and the management of chronic illness. No single policy will fix the fragmentation of our health care system. Rather‚ a comprehensive approach is required—one that might lead progressively to greater organization and better performance. The following strategies were recommended: (A. Shih‚ 2008) * Payment reform. Provider payment reform offers the opportunity to stimulate greater organization
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I was very surprised to learn about how different Christmas in Uganda was compared to in the U.S.. The biggest difference between the two cultures is how they celebrate Christmas. I learned that in Uganda‚ they don’t buy any expensive items for friends or family members. Instead‚ their gift is just being at the celebration with friends and family. In the U.S.‚ families would buy expensive items for each other as a gift. If someone doesn’t like their gift‚ they would just send it back and get something
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John McCormack June 19‚ 2012 Globalization: The Game Changer for GAAP and IFRS Globalization‚ from a business aspect‚ is the process by which businesses or other organizations develop international influence or start operating on an international scale. Countries have long been involved in business; however‚ there is a concern regarding the lack of consistency in standards that businesses are to follow. The rapid advancement of technology and conducting business from country to country has
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7. An investor is evaluating the use of the bottom-up approach and the top-down approach to fundamental analysis. The investor wants to use the approach that will best enable them to structure a diversified share portfolio that will achieve specified income returns and capital gains. Which approach do you recommend the investor adopt? We can use bottom-up approach to make a comparison of the performance indicators with other similar firms in the same industry and thus mixes a wide variety of investments
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and the proportion of its risk that can be attributed to the market.(For Macintosh version) 3. capstru.xls: This program allows you to estimate an "Optimal" Capital structure for a company using the cost of capital approach ‚ the differential return approach and the APV approach. (For Macintosh version) 4. capstruo.xls: This is a variant that allows you to estimate an "Optimal" capital structure for a company whose operating income might vary with its debt rating - for instance‚ financial
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