Essays Tagged: "IFRS"
The impact of International Financial Reporting Standards to European companies
f the old national accounting rules.2. The main issues facing companies in making the transition to IFRSThe preparation of IFRS-based financial statements needs careful planning and good change manage ... h at head-office level and at local operating units.The use of flexible resources with knowledge in IFRS and the investment in training are two solutions adopted by most of the companies. The Big Four ...
Subjects: Social Science Essays > Economics > Foreign & International Economics
Issues in financal reports
tandards. Therefore, IASB standards which are known as international financial reporting standards (IFRSs) have turned into Australian accounting standards. Just during the period of adopting IFRSs, a ... s decision come from all around.A lot of benefits are insisted by those who support the adoption of IFRSs. They argue that1. For companies, high quality accounting standards promote their ability of a ...
Subjects: Businesss Research Papers > Accounting
The advantages and disadvantages of new accounting standards IFRS
ing Standards Board (IASB) from 2005(Baxter 2005). After the first of July 2005, the new standards (IFRS) start to use across national border. companies would be required to report current results und ... ard. The purpose of this essay is going to give a general idea about advantages and disadvantage of IFRS, which has been widespread debate in the business community.Main bodyThe aim of the internation ...
Subjects: Businesss Research Papers > Accounting
GAAP and IFRS
I have been asked a few questions about GAAP and IFRS. One of the questions is to explain what GAAP is. Another one of the questions is to explain wh ... then give my opinion on whether I think it is a good or bad idea that GAAP should be abandoned for IFRS and why I feel that way. So, I will start with the first question, what is the GAAP?GAAP, what ... ounting, Carl S. Warren, and Philip E. Fess (1987), it is the accounting rules. Now, what about the IFRS, what is IFRS?What is IFRS? IFRS is the abbreviation for International Financial Reporting Stan ...
Subjects: Businesss Research Papers > Accounting
The conversion from GAAP to IFRS - a brief summary and analysis
the groundbreaking elimination of GAAP requirement for International Financial Reporting Standards (IFRS) reporting foreign issuers, due to a strong global support for IFRS. Then on August 27th 2008, ... mment a proposed Roadmap that could lead to the use of International Financial Reporting Standards (IFRS) by U.S. issuers beginning in 2014. Currently, U.S. issuers use U.S. Generally Accepted Account ...
Subjects: Businesss Research Papers > Accounting
Accounting Reporting Criteria
ary basis and therefore, no one regulation exists. The International Financial Reporting Standards (IFRS) are the standards adopted by the IASB. The IASB sets policies through the International Accoun ... accounting is foreign currency conversion. Dual reporting may be required under GAAP standards and IFRS in order to report appropriately on global business activity. Publicly traded organizations tra ...
Subjects: Businesss Research Papers > Accounting
IFRS AS GLOBAL MEAN FOR FINANCIAL REPORTING
tandards, note that there are comparable differences between the two standards, but operating under IFRS standards would be very beneficial for the US because they would have a better understanding of ... er understanding of the markets they are trying to capture if there is only one accounting language.IFRS are mandated standards by the International Accounting Standards Broad, and majority of foreign ...
Subjects: Businesss Research Papers > Accounting
Finacial statements
rare circumstances when the entity's management concludes that compliance with a requirement in an IFRS would be so misleading that it would conflict with the objective of financial statements set ou ...
Subjects: Businesss Research Papers > Management
Accounting Case Writing: Wellness Fitness Ltd
urn. Finally, Morgan Bank is another user who wants to ensure that financial statements comply with IFRS standards and GAAPs. They also want to ensure that the company complies with the current ratio ... ant to recognize revenue right away and defer expenses to maximize income. This may not comply with IFRS which conflicts with the bank's objectives.CONSTRAINTS: As a public company and as requested by ...
Subjects: Businesss Research Papers > Accounting