Chapter 03 The Reporting Entity and Consolidated Financial Statements Multiple Choice Questions On January 3‚ 2009‚ Jane Company acquired 75 percent of Miller Company’s outstanding common stock for cash. The fair value of the noncontrolling interest was equal to a proportionate share of the book value of Miller Company’s net assets at the date of acquisition. Selected balance sheet data at December 31‚ 2009‚ are as follows: 1. Based on the preceding information‚ what amount should
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How is XBRL implementing financial reporting technology in India? Extensible Business Reporting Language is one of a family of “XML” languages that is a standard means of communicating information between business and via the Internet. XBRL can be used to express a wide range of reports and disclosures including financial statements‚ internal management information‚ credit filings and statistical reports. XBRL international is a non-profit consortium whose members include approximately 300 leading
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Reporting Practices and Ethics Paper Tiffany Swartz HCS/405 Todd Brown November 19‚ 2012 Introduction Financial management in the area of healthcare has been an ever changing area. There are generally accepted principles and ethical codes that must be followed when dealing with finances‚ and healthcare facilities must be successful in this aspect for the facility to operate smoothly. This paper will discuss the four elements of financial management‚ some generally
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Mandated Reporting Reporting child abuse often becomes an ethical dilemma because violating a client’s right to confidentiality and breaking the law are both considered unethical behavior. There are many factors a social worker must take into consideration when making a report of child abuse such as; circumstances of the suspected abuse‚ professional and ethical standards‚ and legal requirements. However‚ there are guidelines and a Code of Ethics to help social workers ensure this process is
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regulations relating to financial accounting as rules that are developed by independent authoritative body to govern the preparation of financial statements which are accounting standards. Since decades ago‚ there have been arguments for and against the existence of accounting regulations. With a stance of pro-regulation‚ this essay is going to examine the reasons that financial accounting and reporting should be regulated and the merits of accounting regulations. Firstly‚ financial reports are normally
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Index 1 Introduction to segmental reporting 2 2 Origin of segmental reporting 2 2.1 The fineness-theorem 2 2.2 Market efficiency theory 2 2.3 Agency theory 2 2.4 Accounting theory 3 3 The most important segmental reporting standards 3 3.1 International Accounting Standard 14 (IAS 14) 3 3.1.1 The International Accounting Standards Committee 3 3.1.2 The International Accounting Standards Board 4 3.1.3 IAS 14: Segment reporting 4 3.1.3.1 Objective of IAS 14 (revised) 4 3.1.3.2 Applicability
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A practical guide to segment reporting September 2008 PricewaterhouseCoopers’ IFRS and corporate governance publications and tools 2008 IFRS technical publications IFRS Manual of Accounting 2008 Provides expert practical guidance on how groups should prepare their consolidated financial statements in accordance with IFRS. Comprehensive publication including hundreds of worked examples‚ extracts from company reports and model financial statements. IFRS Pocket Guide 2008 Provides a summary
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5 Reporting and Disclosure Discussion Questions 1. Transparent financial reporting means that timely and accurate disclosures are made on all important matters affecting a company’s financial position and performance. It implies openness‚ communication‚ and accountability. Transparent financial reporting protects investors because nothing is hidden from them. Investors can better assess the risks of owning securities when information is truthful and complete. Transparent financial reporting
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Reporting Paper Papa Rydoo ACC541 October 25‚ 2010 School of Business/Leslie Crews Reporting Paper INTERNAL MEMORANDOM To: CEO From: Papa Rydoo Date: October 25‚ 2010 Reference: Postretirement Plans Introduction Acquisition of a company leads to many changes in the company and especially in the area of the retirement benefit plans for our company. It is complicated adjusting to benefits plans but with the required reporting‚ the transition will be smooth. The different types of
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The Role of "Ethics" in Tomorrow ’s Society by Abia Bassey Edet Abstract Ethics pervades business decision making in all spheres of production‚ finance‚ marketing and distribution‚ and customer relations. The operational challenge is therefore the extent to which business decision-makers incorporate ethical standards openly into their business strategy‚ business management processes‚ and the creation of an environment in which ethical codes are practiced by “commission” as opposed to
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