Presentation of Financial Statements Indian Accounting Standard (Ind AS) 1 Presentation of Financial Statements Contents Paragraphs OBJECTIVE SCOPE DEFINITIONS FINANCIAL STATEMENTS Purpose of financial statements Complete set of financial statements General features Presentation of True and Fair View and compliance with Ind ASs Going Concern Accrual Basis of Accounting Materiality and Aggregation Offsetting Frequency of reporting Comparative Information Consistency of Presentation STRUCTURE
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objective of this research paper is to trace the real problems regarding IFRS implementation in India and to suggest remedial measures. Keywords : IAS‚ Indian GAAP‚ US GAAP‚ IASB‚ Fair Values‚ MCA. 1. INTRODUCTION : CONCEPTUALIZING THE TERM IFRS The full abbreviation of the term “IFRS” is international financial reporting standard (IFRS). IFRS has been developed by International accounting standard board (IASB). As per IASB “IFRS refers to a set of international accounting standard stating how particular
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PhD Course Name: ACCT 3001 v1.0 (Section 3) Module 1: Financial Accounting & Accounting Standards 1. Differentiate broadly between financial accounting and managerial accounting. -Financial accounting measures‚ classifies‚ and summarizes in report from those activities and that information which relate to the enterprise as a whole for use by parties both internal and external to a business enterprise. Managerial accounting also measures‚ classifies‚ and summarizes in report form enterprise
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PROJECT ON ACCOUNTING STANDARDS 1. ACCOUNTING STANDARD 16 2. ACCOUNTING STANDARD 21 SUBMITTED TO: PROF. T.K. NAGPAL SUBMITTED BY: VARUN FN3 FN2 Accounting Standard (AS) 16 (issued
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provide the psychologist with a recommendation for which research method should be used to gather data on the pathological liars and their spouses. Using the table below list each research method and its advantages and disadvantages for use in this study. Research Method Advantages Disadvantages Naturalist Observation Allows the behavior to be observed in a natural environment. A naturalistic observation is going to provide firsthand information on behavioral issues. Being observed in the natural
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FDI in India Advantages and Disadvantages Overview First of all‚ FDI means Foreign Direct Investment which is mainly dealings with monetary matters and using this way they acquires standalone position in the Indian economy. Their policy is very simple to remove rivals. In beginning days they sell products at low price so other competitor shut down in few months. And then companies like Wall-Mart will increase prices than actual product price. They are focusing on national and international economic
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Advantages and disadvantages of using Internet. Nowadays almost everyone in the world have had a contact with computers. A great part of them has been using international computer’s net known as Internet. I think using internet has more advantages then disadvantages. First of all‚ Internet provides access to a lot of information. Some of them are very useful in your job other helps in your hobby. Searching the net with Google‚ you can find everything you want. You can also do shopping using Internet
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1 HSC PHYSICS > MOTORS AND GENERATORS| AC & DC Gather secondary information to discuss the advantages and disadvantages of AC and DC generators and relate these to their use. AC generators Advantages The slip rings of an AC generator have a continuous surface that allows the brushes to remain in contact with the ring’s surface. Thus the brushes in an AC generator do not wear out as fast as in a DC generator as they do not create an electric short circuit every half-turn. Therefore
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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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and non-tariff barriers) are reduced or eliminated among the participating states. Advantages of Trading Blocs The main advantages for members of trading blocs are as follows: 1) Free trade within the bloc: Knowing that they have free access to each other’s markets‚ members are encouraged to specialize. This means that at the regional level there is a wider application of the principle of comparative advantage. 2) Market access and trade creation: Easier access to each other’s markets
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