Previously‚ there was limited and sometimes conflicting guidance on how to measure fair value. * To enhance disclosures for fair value. IFRS 13 was issued as part of the response to global financial crisis. * Also it is part of the convergence project to reduce differences between IFRS and US GAAP. Introduction: IFRS 13 will: * Reduce differences between US GAAP and IFRS * Unify the measurement of fair value Issue of fairvalue accounting started after the financial crisis during which
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Strategy and Implementation Summary . . . . . . . . . . . . . . . . . . . 7 3.1 Supply and Distribution 4. Financial Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 - 8 4.1 Projected Investment Amount 4.2 Income Statement 4.2 Return on Investment (funds borrowed) 5. Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Business Proposal: 5-Star Toilet Paper (Toilet Paper Advertising) 1. Executive Summary
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Note to the user: This Word document provides a structured template for preparing your responses to the questions in the annual report project. If you did not purchase the workbook you are not permitted to use this template. INTRODUCTION TO THE CORPORATE ANNUAL REPORT: A Business Application with IFRS Content 3rd edition Copyright 2011 by Applied Accounting Analytics. All rights reserved. Reproduction or translation of this book beyond that permitted by the applicable copyright law without
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No late submissions will be accepted. Assignment-1 The Procter & Gamble Company (P&G) The financial statements of P&G are Posted in BlackBoard‚ under “Handouts” Instructions Refer to P&G’s financial statements and the accompanying notes to answer the following questions. (a) What type of income statement format does P&G use? Indicate why this format might be used to present income statement information. (b) What are P&G’s primary revenue sources? (c) Compute P&G’s gross profit for each of
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director: Brad Parkins Senior marketing manager: Kathleen Klehr Vice president of editing‚ design‚ and production: Sesha Bolisetty Senior project manager: Diane L. Nowaczyk Senior buyer: Carol A. Bielski Interior designer: Pam Verros Senior photo research coordinator: Jeremy Cheshareck Photo researcher: Ira C. Roberts Lead media project manager: Allison Souter Media project manager: Ron Nelms Cover and interior design: Pam Verros Typeface: 10.5/12 Times New Roman MT Regular Compositor: Aptara ®‚ Inc. Printer:
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disadvantages of a master budget Advantages of a master budget are: a. It gives an idea where a company wants to go (its goal).. b. It determines what the company has to do in order to achieve this goal. c. It helps the company to realistically project future cash flows. d. This cash flow will enable the company to get certain types of financing. In short a master budget formalizes planning‚ provides an framework for judging performance and it helps managers to communicate and coordinate their
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Annual Report 2012 New Economy Consultants Co. Annual Report 2012 NEC NEC Contents Company Overview…………………………………………………..................1 Year in Review…..…………………………………………………....................1 Financial Statements ……………………………………………………………2 Notes to financial statements……………………………………………………4 Looking forward………………………………………………………………...6 Recommendation regarding government contracts……………………………..6 Source…………………………………………………………………………...8 Company Overview New Economy Consultants Co
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examines the income and cost information presented by Berkshire Threaded Fasteners Company from historical and projected perspectives to justify two major decisions: withdrawal of a product line‚ and reduction of the selling price of another. Furthermore‚ these decisions will lead into suggestions about the overall strategic approach of the firm. At the beginning of 1974‚ Berkshire leadership advocates withdrawal of the 300 Series product line. First glance at the income statement for the period
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Financial Reporting Financial Reporting Problem Fall 2011 [pic] In order to evaluate your understanding of the use of accounting information‚ you are asked to analyze the 2007 financial statements of The Procter & Gamble Company (P&G). The financial statements of P&G are presented in Appendix 5B or can be accessed at the book’s companion website‚ http://bcs.wiley.com/he-bcs/Books?action=index&itemId=0470374942&bcsId=4881. Based on the information in the 2007 Annual Report
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1. Valuation – could have gone to site to check if the projects were recording appropriate revenue Existence – needed to check if the projects actually existed by talking to appropriate workers EXISTENCE AND OCCURRENCE were the biggest one‚ presentation/disclosure and completeness 2. Sullivan did a bad job checking and did not apply the proper controls. He identified the project as a high risk engagement‚ but did not do any of the necessary audit procedures to remedy this. Therefore‚ there
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