The Impact of the Islamic Religion on the Harmonisation of International Accounting Standards Justin Lingard – S200990 October 2010 Table of Contents Introduction 4 User requirements of financial reports 5 IFRS Compliance Issues with Shari ‘a law 6 Riba 6 Gharar 7 Zakat 7 Conclusion 8 References 10 Introduction Islam is the world’s second largest religion with over 1.65 billion followers‚ which constitutes 24% of the world’s population (Kettani‚ 2010). Islam is a religion
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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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European Journal of Scientific Research ISSN 1450-216X Vol.34 No.4 (2009)‚ pp.550-560 © EuroJournals Publishing‚ Inc. 2009 http://www.eurojournals.com/ejsr.htm Vehicular Emissions and Air Quality Standards in Nigeria F. I. Abam Department of Mechanical Engineering‚ Cross River University of Technology P.M.B 1123. Calabar‚ Nigeria E-mail: faibiang@yahoo.com Tel: +2348054383418 G. O. Unachukwu National Centre for Energy Research and Development University of Nigeria Nsukka‚ Nigeria E-mail: godwinogechi@yahoo
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Biology 100 – Section 005 November 4‚ 2013 ACL Tears in Female Athletes ACL TEARS IN FEMALE ATHLETES The Anterior Cruciate Ligament (ACL) found in the knee connects the femur (thigh bone) to the tibia (shin) and provides stability to the knee. The ACL prevents the tibia from shifting too far forward and from rotating too far inward under the femur. The recent increase of this injury has parents‚ athletes‚ doctors‚ and coaches in fear. Athletes and parents fear the injury to due the expensive
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some even lost. A charity organization I was apart of‚ called Alpha Charity League (ACL)‚ assembles men from the ages of 12 through 18 to get together and raise money for local charities‚ like the Chris Saiz Foundation. If Blinn could make another chapter of ACL and offered 15 hours of credit for participating‚ not only could we aid our community and those in need‚ but also put me through college stress-free. ACL is defined through teaching younger men on how to lead through community service in
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one must first identify what the phrases “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
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Harmonization of International Accounting Standards: Advantages & Disadvantages‚ Obstacles & Solutions As the trend for globalization in business becomes increasingly important for economic success‚ many issues arise through international business practices for corporations‚ governments‚ and investors. Due to the many conflicting codes and practices that exist between various national financial accounting standards throughout the world‚ international business becomes harder to analyze
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This work contains ACC 541 Week 1 - Accounting Standards Boards Paper ACC 541 Week 1 Individual Accounting Standards Boards Paper The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) are currently working on a joint venture referred to as the convergence project. Write a 1‚050- to 1‚400-word paper describing the relationship between the IASB and the FASB. Include the following in your paper: A brief history of the relationship
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REPORT IN DEFENCE OR FAVOUR FOR THE ADVOCATE OF AN INTERNATIONAL STANDARD OF ACCOUNTING PRACTICE. INTRODUCTION Internationalization of economic trade and globalization of businesses is on the ascendency. Consequently‚ financial statements prepared according to a nation’s local accounting system may hardly meet the needs of investors‚ business partners‚ financiers and decision-makers who are conversant with international standards. Meanwhile‚ developing and emerging markets are the target of the
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Abstract The study focused on the adoption process of International Financial Reporting Standards (IFRS) on a developing economy‚ with particular reference to Nigeria. The paper is based on the data obtained from literature survey and archival sources in the context of the globalization of International Financial Reporting and the adoption of International Financial Reporting Standards (IFRS).Nigeria has embraced IFRS in order to participate in the benefits it offers‚ including attracting foreign
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