International Financial Reporting Standards

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  • Ifrs Vs Gaap

    abbreviation for generally accepted accounting principles. Which is the values and guidelines pointed out by the Financial Accounting Standards Board (FASB). IFRS stands for International Financial Reporting Standards which intel’s the accounting standards developed by the International Accounting Standards Board (IASB). Which is the global standard for the planning of shared company financial statements. The start of the U.S. GAAP and IFRS was the concept in the late 1950’s during world war II.…

    Words: 1528 - Pages: 7
  • Rhetorical Analysis Of Dr. Williams Syllabus

    is a valuable source for the students and teachers to assess their readiness, performance and procedure for the course. Dr. Jan Williams is one of the honored accounting professor in University of Baltimore. Her syllabus of advanced accounting reporting class is no exception. She has full detail of events and activities that she is going to organize during the period of semester.…

    Words: 1193 - Pages: 5
  • Empire Real Estate Investment Trust Case Study

    There are different accounting standards that have been introduced by the respectable bodies in order to make the accounting process of the assets convenient. In this paper, a company name, Empire Real Estate Investment Trust needs financial advice regarding its matter of office building in Central London. The paper is divided into four different parts in which four different situations are provided and the treatment of which is elaborated under two accounting standards that is IAS 40 and IAS…

    Words: 1501 - Pages: 7
  • Difference Between Accrual Accounting And Cash Accounting

    Accrual Accounting Guide This is a comprehensive guide to accrual accounting. Let’s start with understanding what accrual accounting is. What is Accrual Accounting? Accrual accounting is the art and science of recording, summarizing, classifying the revenues and expenses of the company whenever they happen even if the cash in yet to be received or yet to be paid. Most of the companies follow accrual accounting because it takes care of the complexities of the accounting system. For sole…

    Words: 1049 - Pages: 5
  • Duane Case Summary

    to fair value. The comparison guide can be found at this link:$FILE/EY-US-GAAP-vs-IFRS-the-basics-2013.pdf) Case Study 13.1 Project: A current project on the Financial Accounting Standards Board (FASB) agenda is “Subsequent Accounting for Goodwill for Public Business Entities and Not-for-Profit Entities”. This project deals with the discussion as to whether any other changes should be considered in the subsequent…

    Words: 716 - Pages: 3
  • Accounting Ethics: The Importance Of Ethics In Accounting

    ethical standards. In America, these guidelines are established by the ethics committee of the American Institute of Certified Public at domestic level, with contribution of state level establishments. Execution of these ethical guidelines is performed by these bodies and by other legal bodies including SEC. Many accountants and firms have been punished by these bodies for their unethical practices. Some of the time, in accounting sphere, organizations issue their own set of ethical standards. …

    Words: 970 - Pages: 4
  • Diffie-Hellman, Seo And Tseng Protocol Analysis

    Chapter-3 Diffie-Hellman, Seo and Tseng Protocol 3.1 Introduction Whitefield Diffie and Martin Hellman in 1976 had proposed key exchange or agreement algorithm. In this algorithm, the participants i.e. the sender and receiver have to agree on a symmetric key i.e. the same key or single key can be used for encryption as well as decryption. The key is only used for key agreement purpose, not for enciphering and deciphering the message. Once the agreement of key has been taken place between…

    Words: 2350 - Pages: 10
  • Difference Between GAAP And IFRS

    Q1. What are Main differences between Financial statements prepared under Indian GAAP, IFRS and U.S. GAAP ? • US GAAP utilizes LIFO. Under US GAAP, current segment of long haul was delegated current Liability , though Under Indian GAAP there was no such Compulsion. As Result, not Interest Accrued on Long Term Debt ,or current segment of long haul obligation was a current Liability under the Indian GAAP. • US GAAP Provided Detailed Rules for Valuation of budgetary instruments, including…

    Words: 752 - Pages: 4
  • Similarities Between FASB And GASB

    FASB The Government Accounting Standards Board (GASB) established in 1984, is an independent organization that determines and improves generally accepted accounting principles (GAAP) for U.S. state and local government entities. However, GASB is not a government entity, it is an operating component of the Financial Accounting Foundation (FAF), a private sector not-for-profit entity (GASB, "Facts About GASB "). The accounting and financial reporting standards established by GASB are essential…

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  • Fasb Is3350 Unit 2 Assignment

    FASB issued an update to the guidance for reporting on discontinued operations that requires the disclosure of disposals of components of an entity. In April 2014, FASB published ASU 2014-08 that revised the definition of a discontinued operation found in FASB ASC 205-20. The ASU 2014-08 also highlighted the need for additional disclosures about disposal transactions that do not fall under the criteria for discontinued operations. Therefore, any entity that follows U.S. GAAP is affected by the…

    Words: 612 - Pages: 3
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