Essays Tagged: "Accounting Standards Board"
Intermediate Accounting GAAP Discussion
The Statement of Financial Accounting Standard (SFAS) # 120 is a statement focusing on the accounting and reporting for mutual ... excluded from the guidelines described in those statements this statement also amends the Financial Accounting Standards Board (FASB) Interpretation No. 40, Applicability of Generally Accepted Account ... 97,and 113, which were applied primarily to insurance companies and outlined the Generally Accepted Accounting Principles (GAAP), which were to be implemented by enterprises of this sort. The first st ...
Subjects: Businesss Research Papers > Accounting
Use the Effect of Goodwill Amortization on the Usefulness of EPS to Evaluate the Relationship between SFAS No. 142 and FASB Conceptual Framework
e the Relationship between SFAS No. 142 and FASB Conceptual FrameworkAbstractIn 2001, the Financial Accounting Standards Board FASB approved significant changes in the way income is determined for com ... etermined for combined business entities. In an effort to make Goodwill and other intangible assets accounting more transparent, SFAS No. 142, Goodwill and Other Intangible Assets, requires firms to s ...
Subjects: Businesss Research Papers > Accounting
1000word essay on MERGER ACCOUNTING.inc...Accounting issues, difficulties and an example merger.
Q> In the context of a current, well publicised merger discuss: A)the accounting issues that management would have to consider. You should make reference to statute and s ... place between two entities the management of these companies must face the task of adjusting their accounting methods to deal with the fact that they now manage a new entity. In order to discuss the ... er to discuss the accounting issues of a merger, the term merger must first be defined. In FRS6 the Accounting Standards Board defined a merger as a "business combination that results in the creation ...
Subjects: Businesss Research Papers > Accounting
THE GREATEST ACCOUNTING SCAM
The Great Accounting ScamThe US government is attacking capitalism under the guise of cracking down on "corpor ... Bubble. Exploiting the Enron and WorldCom bankruptcies, Washington DC has imposed the most sweeping accounting and securities laws since the 1930s.Unfortunately, the political class that granted itsel ... informative to the average individual investor.The myth driving federal legislation in 2002 is that accounting is largely unregulated. In reality, there have been too many accounting regulations spawn ...
Subjects: Businesss Research Papers > Marketing
Accounting Ethics Article Review
The article that I chose discussed the differences between financial and managerial accounting, as well as what they do. The article covered the rules and regulations of theses two typ ... ons of theses two types of accounting based on the GAAP that were established by the FASB.Financial accounting involves the preparation of a business's financial statements, mainly for users outside t ... te business and the stock market require companies to submit financial statements to them.Financial accounting, it is limited by a widely accepted set of rules, standards, and procedures for reporting ...
Subjects: Businesss Research Papers > Accounting
GASB and FASB Analysis Paper.
Governmental Accounting Standards Board and Financial Accounting Standards BoardIn this paper I will be discussin ... ial Accounting Standards BoardIn this paper I will be discussing the objectives of the Governmental Accounting Standards Board (GASB) and the Financial Accounting Standards Board (FASB). The GASB was ... ncial Accounting Standards Board (FASB). The GASB was organized to establish standards of financial accounting and reporting for state and local government entities. The FASB was organized to establis ...
Subjects: Businesss Research Papers > Accounting
Issues in financal reports
ancial reporting council (FRC) announced in 2002, Australian entities have to be reported under the accounting standards which issued by the international accounting standards board (IASB). For achiev ... ard (IASB). For achieving the 'single market objective', it is essential to develop a single set of accounting standards. Therefore, IASB standards which are known as international financial reporting ...
Subjects: Businesss Research Papers > Accounting
The advantages and disadvantages of new accounting standards IFRS
IntroductionIn 2002, the Financial Reporting Council (FRC) announced that Australia would adopt the accounting standards issued by the International Accounting Standards Board (IASB) from 2005(Baxter ... r IFRS and restate recent results. They will also have to report their latest results under the old accounting standard, which should make comparing results on a like-for-like basis relatively straigh ...
Subjects: Businesss Research Papers > Accounting
Purpose and background of FASB
The Financial Accounting Standards Board (FASB) is an organization which institutes the standards for financial ac ... s an organization which institutes the standards for financial accounting and reporting and sets up accounting principles. The FASB is a private organization established in 1973 with the purpose of im ... e mission of the FASB can be found on its website: "to establish and improve standards of financial accounting and reporting for the guidance and education of the public, including issuers, auditors a ...
Subjects: Businesss Research Papers > Accounting
Ethical and Legal Obligations in Accounting
There are several regulatory organizations in accounting. These organizations include the Financial Accounting Standards Board, the Securities and ... inancial Accounting Standards Board, the Securities and Exchange Commission, and the Public Company Accounting Oversight Board.The Financial Accounting Standards Board (FASB) is a designated organizat ... tion. The FASB is independent of all business and professional organizations. Previously, financial accounting and reporting standards were established by the Committee on Accounting Procedure of the ...
Subjects: Businesss Research Papers > Accounting
GASB and FASB Analysis Paper
GASB and FASB Analysis PaperWhile analyzing the relationship between Governmental Accounting Standards Board (GASB) and Financial Accounting Standards Board (FASB) I realized that bo ... and Financial Accounting Standards Board (FASB) I realized that both play an important role in the accounting field. There are different objectives for each board and I will explain the similarities ... milarities and differences. I will describe the role of government regulation in the application of accounting standards and reporting requirements. Finally, I will present a situation in a government ...
Subjects: Businesss Research Papers > Accounting
GASB and FASB Analysis Paper
While analyzing the relationship between Governmental Accounting Standards Board (GASB) and Financial Accounting Standards Board (FASB) I realized that bo ... and Financial Accounting Standards Board (FASB) I realized that both play an important role in the accounting field. There are different objectives for each board and I will explain the similarities ... milarities and differences. I will describe the role of government regulation in the application of accounting standards and reporting requirements. Finally, I will present a situation in a government ...
Subjects: Businesss Research Papers > Accounting
Ethical and Legal Obligations
The FASB (Financial Accounting Standards Board), the SEC (Security and Exchanges Commission), and PCAOB (Public Company ... rd) all work together to decide and determine which standards and concepts are necessary to resolve accounting problems and create a framework for companies to operate within. This allows investors, t ... companies to ensure accurate record keeping and reporting and protects the investor from fraudulent accounting practices. The FASB and the PCAOB are the policy makers although the PCAOB only creates p ...
Subjects: Businesss Research Papers > Accounting
GASB & FASB Analysis
of entities is fundamentally different and therefore requires additional information in regards to accounting standards. Because the function of each of the different entities is unique to one anothe ... es is unique to one another, the Financial Accounting Foundation (FAF) established the Governmental Accounting Standards Board (GASB) and Financial Accounting Standards Board (FASB) to develop General ...
Subjects: Businesss Research Papers > Accounting
Financial Statements
Generally accepted accounting principles which are commonly referred to as GAAP are the accounting rules or regulations ... ublicly traded companies as well as many private companies in the United States. Generally accepted accounting principles for local and state governments operates under a different set of assumptions, ... nder a different set of assumptions, principles, and constraints, as determined by the Governmental Accounting Standards Board (GASB). (http://www.gasb.org/facts/index.html) The reason for calling the ...
Subjects: Businesss Research Papers > Accounting
Corporate Financial Internal Controls
of defense in maintaining the truthfulness in finance of the company. Managers must be alert to the accounting system that is at hand, without this first line awareness, rudimentary protection of the ... s would be at risk.In being in the trenches, so to speak, managers need to know the features of the accounting systems that are in use at the company and its controls ( Noordin, 1997). Some of these f ...
Subjects: Businesss Research Papers > Management
Employers' Disclosures about Pensions and Other Post retirement Benefits
ension AccountingPension accounting is an issue that has been delayed, debated and, in many respects, is st ... layed, debated and, in many respects, is still unresolved in terms of implementation. The Financial Accounting Standards Board (FASB) released Statement of Financial Accounting Standards No. 132, and ... f Financial Accounting Standards No. 132, and it is the most recent pronouncement regarding pension accounting. However, before the issuance of SFAS 132, there were other statements used for the accou ...
Subjects: Businesss Research Papers > Accounting
Comparison of Financial Statements for the Sony Corporation and the Google Corporation
Prof. William C. AudenACC 403Principles of AccountingSubmitted by: Jason K. HauckMODULE 1 CASEIn the following pages I will be discussing sever ... ages I will be discussing several topics to include: the importance of the GAAP (Generally Accepted Accounting Principles), as well as comparing current assets and liabilities to non-current items. I ... d under a set of principles or guidelines. In the United States these are called Generally Accepted Accounting Principles (GAAP). These are a detailed accumulation of specific rules generated by a ser ...
Subjects: Businesss Research Papers > Accounting
Accounting
ncome statements? By C. Terry Grant, CPA and Conrad Ciccotello Everywhere, people are talking about accounting.We can?t remember another time when there?s been more discourse about the lack of quality ... ty of our capital markets and the efficiency of capital allocation.But you can?t lay total blame on accounting rule makers for the stock options accounting subterfuge that companies continue to finess ...
Subjects: Businesss Research Papers > Accounting
Accounting Regulatory Bodies
There are many accounting regulatory bodies, like the Securities and Exchange Commission. Each one performs specifi ... e Securities and Exchange Commission. Each one performs specific tasks and sets regulations for the accounting industry. This paper will discuss the responsibilities of four regulatory bodies. The pap ... stment advisors, and ratings agencies, oversees private regulatory organizations in the securities, accounting, and auditing fields, and coordinates U.S. securities regulation with federal, state, and ...
Subjects: Businesss Research Papers > Accounting