U.S. GAAP vs. IFRS on Depreciation Generally‚ U.S GAAP and IFRS both view depreciation as allocation of cost over an asset’s life. There are three steps of the depreciation process: firstly find depreciable base of the asset‚ and then estimate asset’s useful life and last choose a method of cost apportionment that best matches revenue flow from the asset. Depreciation methods allowed under U.S. GAAP include straight-line‚ units of production‚ or accelerated methods (sum of digits or declining
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Nicole Brown ACCT 400 Professor Pitre 14 September 2010 IFRS vs. GAAP (Oil & Gas) The differences between International Financial Reporting Standards (IFRS) and current U.S. GAAP are numerous. International Financial Reporting Standards (IFRS) are principles-based Standards‚ Interpretations and the Framework (1989) adopted by the International Accounting Standard Board (IASB). Many of the standards forming part of IFRS are known by the older name of International Accounting Standards
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Software Reliability‚ Modeling and Uncertainty – An Independent Study Software Reliability‚ Reliability Models & Uncertainty Principles - An Independent Study SUBMITTED BY: Bhavya Jain [09ITMG1020CSE ] DEPARTMENT OF CSE & IT ITM UNIVERSITY‚ GURGAON‚ FORMLY KNOWN AS INSTITUTE FOR TECHNOLOGY & MANAGEMENT (AUTONOMOUS UNDER MDU‚ ROHTAK) Bhavya Jain [09ITMG1020CSE] Page 1 Software Reliability‚ Modeling and Uncertainty – An Independent Study CERTIFICATE It is to certify that the work
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Recognition: IFRS and FASB Convergence With the growth of international business there is a need to standardize financial statements globally. Presently there are “approximately 120 foreign private issuers currently that report to the Commission using IFRS financial statements.” By standardizing accounting practices investors will be able to make informed decisions based on comparability and accuracy of financial statements. The SEC released this statement in 2008‚ “We believe that IFRS has the
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EXPLORING RELIABILITY AND VALIDITY INSTRUCTIONS In a 2–3-page Word document (not including the title and reference page)‚ you will analyze the psychometrics provided from the Values and Motives Questionnaire (VMQ). Use APA formatting for the font (Times New Roman 12 pt.)‚ title page‚ margins‚ and section headings. To receive full credit for this assignment‚ be sure to: 1. Address the type of reliability and validity used. Explain the types of reliability and validity used. The authors of the
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(2010) article “IFRS adoption in Spain and the United Kingdom: Effects on accounting numbers and relevance” and find out the answer for the following questions: Q1 What are the research objectives? (the last 5 paragraphs of section 1) The main purpose of this research is to compare and contrast the quantitative impact of the IFRS adoption on financial reporting in Spain and the UK. There are two main research objectives. First it explores the economic and financial effect of the IFRS adoption for
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Lecture on IFRS 9 and 13 02/11/2011 – Wednesday IFRS 13 Reasons for Issuing IFRS 13: * To reduce complexity and improve consistency in application when measuring fair value. 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:
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a C. Reliability In order for assessments to be sound‚ they must be free of bias and distortion. Reliability and validity are two concepts that are important for defining and measuring bias and distortion. Reliability refers to the extent to which assessments are consistent. Just as we enjoy having reliable cars (cars that start every time we need them)‚ we strive to have reliable‚ consistent instruments to measure student achievement. Another way to think of reliability is to imagine a kitchen
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Corporations in Australia have started adopting IFRS as its domestic financial reporting standards since 2005. Although AIFRS applied almost whole contents and wording of IFRS‚ owing to the different domestic legislative environment‚ some modifications were needed and included the removal of certain options permitted or wording changes under IFRS. The species of these differences that exist between IFRS and AIFRS can be universally sorted as follow: 1. Recognition differences. 2. Measurement
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IFRS 10 VS. IAS 27 1 IFRS 10 - OBJECTIVE To establish principles for the presentation and preparation of consolidated financial statements (CFS) when an entity controls one or more other entities. 2 IFRS 10 – OBJECTIVE(STANDARDS) Requires a parent entity to present CFS Defines the principle of control and establishes control as the basis for consolidation Set out how to apply the principle of control to identify wheteher an investor controls an investee and
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