Running Header: THE FASB FASB and the Standard-Setting process Name: Institution: Course: Tutor: Date: Abstract Financial Accounting Standards Board (FASB) is a seven member board that consists of accounting professionals who establishes and communicates financial accounting and reporting standards known as generally accepted accounting principles (GAAP) in United States. The standards’ quest is to govern the preparation of the corporate financial reports and hence ensuring
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describing the central position of a frequency distribution for a group of data. Measures of spread are ways of summarizing a group of data by describing how spread of the scores. Week 4’s assignment was to Descriptive Statistics Body weight (Lbs) Central Tendency: Mean= 149 Lbs Dispersion: Standard deviation= 30 Lbs Number: 100 Min/Max: 99 Lbs and 234 Lbs Confidence Interval: 144 to 155 Lbs Age Central Tendency: Median= 36 years Dispersion: Interquartile
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Accounting Standards Boards Paper In recent years there has been significant changes made in our understanding of the relationship between the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB). At present both the IASB and FASB are working on a joint venture referred to as the convergence project in hopes of eliminating a variety of differences between International Financial Reporting Standards and U.S. GAAP. Another area covered in this paper besides
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The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) are undertaking the Conceptual Framework project jointly in order to create a sound foundation for the new accounting standard by revising the existing conceptual framework. The International Accounting Standards Board (IASB) is the dependent standard-setting body of the IFRS foundation. The IASB adopted the FASB in its framework as guidelines for the preparation IFRS that it published in 1989
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Principles (GAAP) varied in structure‚ format‚ and completeness. These variations led to confusion among users and it became more difficult to determine if they were using GAAP correctly. In response to this problem‚ the FASB developed the Accounting Standards Codification (ASC) whose main purpose is to provide users access to all of the generally accepted accounting principles in one place. The Codification eliminates obsolete information and presents all of the material in the same format and structure
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range from 4 to 10‚ with a variation of ±2. Approximately half of the data points lie above 8. The mode rating is 9. We are 95% confident that the population rating of assistant teachers at Steele School who are chosen is between 7.091 and 8.623; however‚ since the distribution is not normally distributed‚ the confidence interval is not applicable. Group 2 The data is normally distributed. 21 parents are surveyed. The ratings range from 3 to 10. The average rating is 6.29‚ with a standard deviation
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economic growth and a way to raise the living standard of families. As economic growth improves the average citizen’s standard of living a smaller portion of the population tends to fall below the absolute poverty standard. Society can eliminate absolute poverty through a combination of economic growth and transform of many citizens with more than adequate income to the poor. Every residents in the Philippines would like to raise its living standard an exactly that of its community fact‚ every
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Case 9-4 Trueblood Case 09-4 Solution Case 9-4 How should NeedsSpace account for the two obligations noted as provisions in the lease agreement? ● Provision 1: “Lessor may require the lessee to perform general repairs and maintenance on the leased premises.” By entering the lease agreement‚ NeedsSpace (the lessee) becomes legally and contractually responsible for performing general repair and maintenance on the leased premises. Assuming that the lessee is required to make deposits to financially
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Week 4 Assignment BUS 308 Statistics for Managers January 28‚ 2013 9.13) Recall that “very satisfied” customers give XYZ-Box video game system a ratting at least 42. Suppose that the manufacturer of XYZ-Box wishes to use the random sample of 65 satisfaction ratings to provide evidence supporting the claim that the mean composite satisfaction rating for the XYZ-Box exceeds 42. a. Letting u represent the mean composite satisfaction rating for the XYZ-Box‚ set up the null hypothesis H0 and the
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Research Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 2‚ No 4‚ 2011 www.iiste.org Compliance of IAS-30: A Case Study on the Specialized Banks of Bangladesh Md. Shamim Hossain (Corresponding author) School of Business and Economics‚ Manarat International University Plot # CEN 16‚ Road # 106 Gulshan‚ Dhaka-1212‚ Bangladesh E-mail: samimhosain@yahoo.com Mobile No.: +8801927652385 Abdul Alim Baser Brac Business School‚ Brac University 66 Mohakhali Dhaka
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