"The role and history of the International Accounting Standards Board‚ including an examination of the Board ’s evolution and stance on ethics issues." The International Accounting Standards Board‚ (IASB)‚ began life as the International Accounting Standards Committee (IASC) in the 1973. The IASC was created in June 1973 as a result of an agreement by the accountancy bodies of Australia‚ Canada‚ France‚ Germany‚ Japan‚ Mexico‚ the Netherlands‚ the United Kingdom and Ireland and the United States
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becoming increasingly contentious and providing a hurdle to convergence between GASB and IASB is accounting for Financial Instruments. The financial crisis of 2008 had devastating consequences for the financial markets everywhere. Blame was widely spread and both IASB and GASB considered making changes in the accounting of financial instruments‚ particularly the delayed recognition of credit losses on loans. FASB and IASB began working together‚ but found irreconcilable differences in their solutions to
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and Acquisitions 1. Introduction Learning Objectives By the time you have completed this module you should understand: what a merger is and how it differs from an acquisition; some of the reasons why companies merge; the underlying merger rationales; what a merger driver is; what the primary merger drivers are; the difference between horizontal integration‚ vertical integration and conglomeration; the basic merger lifecycle and lifecycle phases; some basic
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Standard Board (FASB) sets regulations for nongovernment entities and the Government Accounting Standard Board (GASB) is the government entities regulator. They have similarities and differences designed for the type of business they monitor. The financial statements are another area that can be confusing because most businesses will use accrual accounting methods‚ but government organizations use a modified version. To understand the similarities differences between GASB and FASB the following paragraphs
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1. Briefly discuss the key reasons for mergers & acquisitions including basic economic reasons and elaborate the reasons & the expectations of acquiring The Navigator by the main group‚ Reasons for Mergers and Acquisitions Why do mergers take place? It is believed that mergers and acquisitions are strategic decisions leading to the maximization of a company’s growth by enhancing its production and marketing operations. They have become popular in the recent times because of the enhanced competition
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April 30‚ 2013 Mr. Donald VanderLinde Department of Social Services 2153 Francis SE Waukegan‚ IL 60085 Dear Donald We would like to extend an invitation to attend the launch of the Inner City Collaborative Project. The purpose of the meeting is to consider ways in which we can work together on the major issues impacting the city. The topics will include transportation‚ crime‚ inner city housing‚ and public education. The event will be held at the Residence Inn Hotel located at 1440 South
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costs incurred beyond the Research and Development stage can be capitalized when it is pertaining to the development of software that is to be sold‚ leased‚ or otherwise marketed to third parties. Standard 985-330-25-1 applies to these costs as the FASB ASC defines the Product Masters as "a completed version‚ ready for copying‚ of the computer software product‚ the documentation‚ and the training materials that are to be sold‚ leased‚ or otherwise marketed". The company has established technological
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FASB ASC Project 1. The inventory at your company consists of computer software that the company has developed and is selling. You capitalized (rather than expensed) the cost of duplicating the software‚ the instruction manuals‚ and training material that are sold with the software. FASB ASC CITATION: Product Masters 985-330-25-1 The costs incurred for duplicating the computer software‚ documentation‚ and training materials from the product masters and for physically packaging the
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GASB and FASB Analysis Paper ACC/460 The Governmental Accounting Standards Board and the Financial Accounting Standards Boards were put in place to assist in regulating the private sector‚ federal‚ and state and local governments. These regulations that are in place are to hold he sector accountable for its accurate financial reporting and documentation. I ask how these two divisions differ in its objectives and how to they regulate each party it governs. The Governmental Accounting
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The IASB (International Accounting Standards Board) is the standards-setting body that functions within the IFRS (International Financial Reporting Standards).The 15 members are responsible for the development of the IFRSs‚ including the IRFS and SMEs (small and medium-sized entities) and for approving interpretations of IFRSs as developed by the IFRS interpretations committee. Through extensive outreach activities and input into standards-setting from stakeholders‚ IASB is able to do the necessary
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