Comparing IFRS to GAAP ACC/ 291 11/3/2014 Lori Haines Comparing IFRS to GAAP GAAP Revenue Recognition GAAP rules for recognition are detailed regarding specific industries‚ such as real estate and software. It uses the "complete contract method" and has special rules for rendering software services. Organizations can recognize revenue from the sale of goods made delivery from a definitive agreement for a fixed fee that they are reasonably sure they will collect. Under GAAP‚ companies must wait until
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using role playing to teach social studies as one of the strategy that may be employed. It will also look at the advantages of small group discussion over the whole class discussion. Then‚ a conclusion will then be drawn based on the highlighted points raised in the essay. Farrant (1980) defines role play as a spontaneous enactment of real life situations by learners who volunteer for the assigned roles. Each actor tries to fit the assigned role as well as they could. In other words‚ role playing
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R7-1 Research Gaap 3/5/2012 Intermediate Accounting I am writing this memo in regards to your question of how to record the transaction of transferring the company’s receivables to the financial institution. The company is doing this to get $100‚000 because of the shortage in cash. The accounts receivables are being used as collateral with a charge of 12% fee on this amount and Hamilton’s is required to repurchase the receivables back from the financial institution. In transfers of an
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Maharashtra is a huge state and clustered with numerous cultures and traditions. The state has very prominent significance of tourism in India. Mumbai‚ Pune‚ Nagpur‚ Nashik‚ Kolhapur‚ Jalgaon‚ Aurangabad‚ Amravati‚ Thane and Chandrapur are some of the important cities of Maharashtra. Among all these Kohapur has its own significance and cultural importance. So here we discuss about the main features and air connectivity of Kolhapur city. Kolhapur is an important city of Maharashtra which is located
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traits to Willy Loman. They are both loud‚ funny‚ and they both seem to want the same thing in life‚ which is to achieve the American Dream. These two characters are men that do not make a lot of money‚ but they have this imagination that they will eventually be rich one day. Boy Willie’s super objective from the beginning of the play to the end is to sell the piano that is in his sister Berniece’s house. The reason why he wants to sell the piano so bad is because he wants to use the money to buy the land
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Role adversity plays in shaping an individual’s identity Discuss the idea(s) developed by the text creator in your chosen text about the role adversity plays in shaping an individual’s identity. A man is insensible to appreciate prosperity until he has tasted adversity. Adverse situations shape an individual’s identity and play a significant role in one’s life by shaping personal values‚ determining one’s own potential and self worth. Khaled Hosseini conveys how hardships shape individuals
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The Civil War played a large role in changing American society. It finally brought America closer to its true goals of freedom and equality for all. The end results of the Union’s victory in the war socially and constitutionally changed the status of African Americans. Blacks‚ who were once former slaves‚ finally had a voice in society. The constitution had been redrafted for all men to be treated as equals via the 13th‚ 14th‚ and 15th amendments. Yet‚ despite said above blacks were free on paper
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How the Environment Plays a Role in Learning Introduction According to the constructivism theory of learning‚ human beings learn through establishing meaning in their present knowledge structures. According to proponents of this theory‚ children learn by the process of assimilation and accommodation. Accommodation refers to the process by which failure leads to further learning; where a new experience that is contrary to one’s expectations causes one to change their mental representations. On
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of the FASB. The GAAP has many organizations that exist through the history of rule-making‚ including GASAC. http://www.ask.com/question Three organizations developed‚ or influenced the development of‚ the GAAP in the United States: the SEC‚ the AICPA‚ and the FASB. A separate but similar set of rules and principles govern state and local government reporting‚ as determined by the Governmental Accounting Standards Board (GASB). Accountants generally apply GAAP through the use of FASB pronouncements
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INSTITUTE OF ACCOUNTANCY ARUSHA RESEARCH REPORT ON THE ROLE OF FINANCIAL REPORTS IN DECISION MAKING A CASE STUDY OF; THE MINISTRY OF INFRASTRUCTURES DEVELOPMENT BY: MANS’S SON ADA III 2006/2007 SUPERVISOR: MR G. PETERSON A RESEARCH REPORT TO BE SUBMITTED TO THE INSTITUTE OF ACCOUNTANCY ARUSHA AS A PARTIAL FULFILLMENT OF THE REQUIREMENTS OF THE AWARD OF ADVANCED DIPLOMA IN ACCOUNTANCY (ADA) CHAPTER ONE 1.1 INTRODUCTION AND BACKGROUND OF THE PROBLEM The primary
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