Financial Statements IFRS vs. GAAP Kathrine D. Nepon Strayer University John Ware ACC 401 November 27‚ 2011 ABSTRACT For those in the business world‚ particularly in the accounting field‚ a major issue has surfaced in recent years relating to the differences between Generally Accepted Accounting Principles (GAAP) and the International Financial Reporting Standards (IFRS). Currently‚ the majority of countries in the world follow International Financial Reporting Standards guidelines; however
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An Analysis of the Financial Statements of Apple Intermediate Accounting III INTRODUCTION I chose Apple for my course project mainly based on the fact that they release all their records to the public and they have excellent accounting practices. Their paper work is easy to read and follow and based on their records they have an endless amount of revenue in the billions. As we have discussed about Apple in class I was very intrigued how they looked in the books on a specific level of detail
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NIKE ANNUAL REPORT PROJECT 2011 Yesenia Rivera ACG2021-SEC001 SUMMARY This company strives for excellence. Nike is an enormous corporation that continues to do well‚ even in this questionable economy. They are relentless about innovating to reach their full potential. Despite a few highs and lows within the company they continue to produce high quality sport-inspired equipment. Nike 2011 Annual Report INTRODUCTION CEO: Mark Parker Home office : One Bowerman Drive
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Financial Statements Paper Your Name Principles of Accounting – ACC/280 Date Instructor Name Financial Statements Paper The purpose of accounting is to provide a means of reporting‚ recording‚ summarizing‚ and interpreting economic data within an organization. Accounting is used by everyone in one form or another. Everyone should have a basic understanding of accounting as it could be extremely beneficial to everyone. Within every company there should be an accounting department
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Consumer Understanding No company in the world has invested more in market research than P&G. We interact with more than five million consumers each year in nearly 100 countries. We conduct over 20‚000 research studies every year‚ and invest more than $400 million annually in consumer understanding. The insights we gain help us identify opportunities for innovation and better serve and communicate with our consumers. Innovation P&G is the industry’s innovation leader. Nearly all organic sales
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There are four basic financial statements that companies use. They begin with income statement‚ statement of owner’s equity‚ balance sheet‚ and the statement of cash flows. Company’s use income statements to report how much money they have made and how much they have spent over a specified period of time. The statement of owner’s equity is used to report any changes in equity from a company’s net income or net loss‚ as well as report changes in the owner’s investments and withdrawals over a specified
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Financial Statement Relationship Accounting and financial statements are the language of business. Financial statements provide information to help users such as managers and investors analyze accounting data to help make decisions‚ manage risk‚ and predict future outcomes. This week’s paper Team B will discuss how the statement interact with one another‚ how changing one affects other statements‚ and the importance to understand the relationship between the statements. Financial statements are demonstrated
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I. VALDEZ Marketing Manager LEO CASTRO Quality Control Manager ROSETTE U. SABADO Purchasing Manager LUZVIMINDA L. APUYA Accountant‚ Bookkeeper II. SPONSOR The principal sponsors of the proposed project are the proponents themselves. III. BENEFICIARY The beneficiaries of the proposed project would be the fish industry of Caoayan‚ Ilocos Sur‚ its locals (specifically the fishermen and fish retailers) and nearby town fish markets. IV. FUNDING REQUIREMENTS Table 1 CAPITAL CONTRIBUTIONS SOURCE
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COMMON-SIZE FINANCIAL STATEMENT ANALYSIS When all the items of a financial statement are expressed on a common basis‚ it is known as a common-size financial statement. Common-sizing of balance sheet is done generally by expressing its all items as a percentage of its total assets or total equities. Similarly‚ income statement is common-sized when its all items are expressed as percentage of total sales. PROCEDURE OF COMMON SIZING In preparing common-size income statement‚ the following procedure
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STARBUCKS: FROM BEAN TO CUP Introduction to the Financial Statements ------------------------------------------------- The purpose of this assignment is to increase your understanding of the information contained in a firm’s financial statements and of the relationship between the statements. As you study financial accounting‚ we will focus on using financial information in a meaningful way‚ to understand the firm’s past performance and project its future performance. One of the analytical tools
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