“accounting standards” and “financial reporting” refer to. Accounting standards refer to the accounting methods used in an accounting system like the IFRS. Financial reporting refers to the representation of financial information‚ in order to be uniform the financial reporting must be based on a fixed set of rules‚ invole complete objectivity and no bias. The IFRS (International financial reporting standards) has indeed helped the uniformity of financial reporting. However‚ in some cases due to subjectivity
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Crime Reporting & Rates Response Paper UOPX CJS_200 01/18/2013 1) What is the purpose of major crime-reporting programs? What makes a successful crime-reporting program in the United States? There are a few factors for the purpose of having a crime-reporting program‚ other than just collecting crime statistics. One of the many reasons why crime-reporting is so important is because they can determine if any new programs‚ or new laws‚ or new techniques that were implemented are working
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Information Technology‚ Reporting and Evaluation Controls for Information Technology‚ Reporting and Evaluation Information technology (IT) controls are particular functions performed by employees and operating systems specifically designed to ensure business objectives and goals are met. Although IT controls are different than internal controls both are vital functions of an organization that are both reported and evaluated on a regular basis. IT control objectives are based on confidentiality
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The Benefits of Adopting International Financial Reporting Standards (IFRS) In The United States by Michelle Minor Accounting 203 5/20/09 Most people believe that the conversion from each country’s GAAP to IFRS is inevitable‚ though there is nothing conclusive of how effective or successful this would be. In short‚ making the switch to IFRS is a great leap of faith by all who participate. Ideally IFRS is designed to be used by all companies worldwide‚ which is highly unlikely unless they
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Reporting Income for Dot-Coms Priceline.com 1. Under the current system of accounting‚ the company would record revenues of $250 as they are the merchants to the transaction and $200 (80% of transaction value) as their cost of goods sold. 2. Alternatively‚ the company can net off the effect and show $50 (20% of transaction value) as their commission revenue. 3. If I were the CFO‚ I would recommend to opt for the first method of revenue recognition because it would show better
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A COMPARATIVE ANALYSIS OF CORPORATE REPORTING IN NIGERIA AND IN THE UNITED KINGDOM Abstract; This paper presents a comparative analysis of corporate reporting in Nigeria vis-à-vis UK. It describes the key factors in the business environment which influenced accounting system development as well as the regulatory frameworks. It tabulates and compares significant accounting rules and methods prescribed by both UK and Nigerian GAAPs‚ using the Financials of Dangote Cement Plc‚ a hugely market capitalized
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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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bar graphs If you took all actions you would reduce annual emissions by: 4552 If you took all actions your potential dollar savings would be: 496 Your new total annual estimated CO2 emissions: 36964 QUESTIONS 1. Based on your findings from the ecological footprint calculator‚ how many Earth’s would be needed to support the global population if everyone lived your same lifestyle? Additionally‚ describe the impacts on the Earth’s climate‚ biodiversity‚ and economic
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Executive summary. This report is prepared from the standpoint of a shareholder who is interested in the financial performance of Next plc with the particular concern for dividends‚ earnings and share price. The main findings of this report are the following: • accounting policies adopted by Next plc correspond to the required standards and‚ in our views‚ prove to be relevant‚ reliable‚ understandable and consistent. • Analysis of investment ratios‚ gearing ratio and profitability ratios
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Reporting Practices and Ethics Paper HCS/405 November 23‚ 2011 Reporting Practices and Ethics Paper This paper discusses the elements of financial management that is important to the healthcare organizations‚ generally accepted accounting principles‚ and a summary of the articles related to healthcare financial management. Elements of Financial Management There are four different elements used in financial management. These elements include: planning‚ controlling‚ organizing and directing
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