24/07/2013 Overview of ACCT2011 Institutional and Conceptual Framework for Financial Reporting Week 1 Lecture Schedule of weekly topics › UoS Outline Assessment › Mid-semester test (7 Sep 2013) 40% 60% › Final exam (final exam period) ACCT2011 Financial Accounting A Dr Eagle Zhang › Please note: You must achieve at least 40% in the final exam to pass the unit AND get an overall mark of 50% or more. 1 4 Overview of ACCT 2011 1. Applying specific accounting standards: • interpreting
Premium Balance sheet International Financial Reporting Standards Generally Accepted Accounting Principles
Introduction The purpose of this report is to investigate the current financial reporting environment in Sri Lanka and its impact on the companies listed on the Colombo stock exchange. Hotel SIGIRIYA PLC has been chosen to study the financial reporting requirements‚ cultural impacts and the political influences on the Sri Lankan listed companies. 1. Financial Reporting Environment in Sri Lanka 1.1. Current financial reporting requirements for publically listed companies in Sri Lanka. In August
Premium Financial statements International Financial Reporting Standards Sri Lanka
Financial Reporting of the Coca Cola Company ACC/290 November 27‚ 2012 Financial Reporting of the Coca Cola Company When looking at a company’s financial statements‚ such as the Coca Cola Company‚ one piece of important information that should not be overlooked is the total current assets. Kimmel‚ Weygandt‚ and Kieso describe current assets as “assets that a company expects to convert to cash or use up within one year or its operating cycle‚ whichever is longer” (2009). The total current assets
Premium Balance sheet Generally Accepted Accounting Principles
Ch 8: Financial Reporting and Management Reporting System GL master ledger: the principal file in the GLS database. Based on chart of accounts. FRS draws upon GL master to produce the firm’s financial statements General ledger history file and journal voucher history file- prior period info Responsibility center file: contains revenues‚ expenditures‚ and other resource utilization data for each responsibility center in the organization (used for responsibility reports) Budget master file: contains
Premium Management General ledger
Adley – Week1 DQ1 Follow up Reply Financial reporting fraud cases typically involve “fictitious revenues‚ overstatement if assets‚ capitalized expenditures‚ misappropriation of assets‚ premature revenues‚ and understatement of expenses and liabilities‚ “according to Lawyers Connect (n.d). As a result‚ such intentional misstatements are fraudulent and illegal‚ and most likely material. Manipulation of accounting equation‚ Assets = Liabilities + Stockholder’s Equity (Rich‚ et al.‚ 2012‚ p. 9)‚ characteristically
Premium Fraud Enron Balance sheet
Financial Reporting Problem‚ Part I ACC/290 March 18‚ 2013 Tony Ames Financial Reporting Problem‚ Part I In today’s markets there are several factors that make up a public company and allow it to be desired by investors. * Total Current Assets: Previous Annual Reporting Period * * The total current assets at the end of the previous annual reporting period‚ December 31‚ 2011‚ was $22‚985‚000 in comparison to the most current year of 2012’s results of $22‚706‚000. Therefore
Premium Balance sheet Asset
CPA 104 FINANCIAL REPORTING MODULE 1 THE FRAMEWORK AND ITS APPLICATION IN FINANCIAL REPORTING Part A: The role of a framework of accounting in global financial markets Objective of General Purpose Financial Reporting To provide financial information about the reporting entity that is useful to existing and potential investors‚ lenders and other creditors in making decisions about providing resources to the entity. Key factors driving the globalisation of financial markets Technological innovation
Premium Balance sheet Generally Accepted Accounting Principles Financial statements
Accounting Principles At the completion of the Darby Department Store audit‚ the president asks about the meaning of the phrase “in conformity with generally accepted accounting principles‚” which appears in your audit report on the management’s financial statements. He observes that the meaning of the phrase must include more than what he thinks of as “principles.” Required: a. Explain the meaning of the term accounting principles as used in the audit report. (Do not in this part discuss the significance
Premium International Financial Reporting Standards Financial Accounting Standards Board Audit
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
Premium General Electric
3. Analyze the policies of three European colonial powers regarding Africa between 1871 and 1914. Between 1871 and 1914‚ Britain had planned to create a huge British empire‚ Belgium felt that it needed to use brutal force‚ and France had 4. How and in what ways did the writings of Karl Marx draw on the Enlightenment concepts of progress‚ natural law and reason? 5. Describe the steps taken between 1832 and 1918 to extend suffrage in England. What groups and movements contributed
Premium Colonialism British Empire Europe