Impairment charge is needed when the recoverable amount of loan and due are less than the book value in statement of financial position. Trading securities are those which are purchased for resale in short term, for example, government debts or equity instrument. Trading security is initially recorded at fair value and gain/ loss is recognized in income statement as interest income. Financial assets designated at fair value and are subsequently tested for gain or loss, to be recorded as…
policies, procedures, or objectives. • To Evaluate expenses and other financial information to formulate and improve plans, policies, or budgets in other to increase profits and bettering…
helps to observe the amount of revenue that the company is capable of earning using a certain amount of investment. The asset turnover ratio is used to analyse the amount of revenue earned by the company over the invested assets. Looking at the financial statements, it can be seen that the asset turnover ratio of the company has gradually decreased in the last three years from 1.6 to 0.79. Hence, it presents a poor performance of the company. On the other hand, the number of days for inventory…
that the major sources of illegal proceeds are crimes against the financial system such as fraud and embezzlement, drug trafficking, and tax evasion. Money laundering in Brazil is most commonly associated with domestic crime, including the circulation of contraband goods and corruption, narcotics trafficking and organized crime, which generates funds that may be laundered through the banking system, real estate investment or financial asset markets like Operação Lava Jato. Basically, inflated…
decline in Asian earning. Hence, before the company is urged to expand its market, it should focus to rebuild its CSR first. Under current global economic situation, consumer desire is weak, expanding market is not the best solution but good valuation report and rebuild in CSR is a better…
Crockford (1986) defined risk as the uncertainty of expected return in financial market and one of the basic tasks of a listed company is to measure and control risk. Since the collapse of the fixed exchange rate system in 1971, the volatility of exchange rates, interest rates and other external factors have been changing fast…
Overview Statement of Focus Financial exploitation occurs when a person misuses or takes the assets of a vulnerable adult for his/her own personal benefit. This frequently occurs without the explicit knowledge or consent of a senior or disabled adult, depriving him/her of vital financial resources for his/her personal needs (Elder Financial Exploitation, 2016). Elder financial abuse is a rising threat which has the ability to affect numerous older adults across the nation. Research states that…
On July 30, 2002, Congress passed with a near unanimous vote what is considered by many to be “the most comprehensive financial reporting legislation since the Securities Acts of 1933 and 1934” (Louwers at al., 2015). The Sarbanes-Oxley Act of 2002, commonly referred to as “SOX”, was named after its two main creators U.S. Senator Paul Sarbanes and U.S. Representative Michael G. Oxley. The Sarbanes-Oxley Act has a goal “To protect investors by improving the accuracy and reliability of corporate…
In general, Accrual accounting in public sector provides better quality financial information, more comprehensive and increase efficiency. This allows a better way of discharging accountability by extending the assessment of financial performance beyond the application of cash and supports a better decision making by internal management by providing information on the full cost of operations and the resources used to deliver services to the public 1-Revenue and Expense Matching The most…
presentation of financial statements. Both standards have the statement of financial position, a profit and loss statement, a statement of comprehensive income, a statement of cash flows and notes to the financial statements. Both the IFRS and GAAP standards require for there to be information available and presented when there are changes made to the shareholder’s equity. In general, both standards are consistent and show the same materiality when it comes to the way the financial statements…