Intermediate Accounting Project Assignment #1 AIA2-1 (Financial Reporting Issues: The Procter & Gamble Company) a) Proctor and Gamble’s revenue recognition policies state that the customer recognizes revenue upon either date of shipment or date of receipt; e.g. when the product or receipt has switched hands. They also record revenue net of sales‚ trade promotion spending‚ and other taxes on behalf of governmental authorities. All of these transactions are generally recorded at time of
Premium Generally Accepted Accounting Principles Income statement Balance sheet
The Comparative Analysis of Financial Reporting Between China and the UK Introduction As commonly acknowledged‚ accounting‚ as a social science‚ a language of economy‚ is affected by the environment in which it stays; In the meantime‚ it also brings impact on this environment (Černe 2009). There are numerous factors that affect the accounting system of a country‚ such as culture‚ politics and economy and other non-accounting factors (Nobes & Parker 2010). China is one of the most populous
Premium International Financial Reporting Standards Financial statements Generally Accepted Accounting Principles
Index 1 Introduction to segmental reporting 2 2 Origin of segmental reporting 2 2.1 The fineness-theorem 2 2.2 Market efficiency theory 2 2.3 Agency theory 2 2.4 Accounting theory 3 3 The most important segmental reporting standards 3 3.1 International Accounting Standard 14 (IAS 14) 3 3.1.1 The International Accounting Standards Committee 3 3.1.2 The International Accounting Standards Board 4 3.1.3 IAS 14: Segment reporting 4 3.1.3.1 Objective of IAS 14 (revised) 4 3.1.3.2 Applicability
Premium International Financial Reporting Standards Financial statements
By Afra Sajjad Introduction In recent years‚ particularly since the advent of the global financial crisis‚ the debate has grown over whether annual reports have relevance to investors and other users‚ and enable them to make proper decisions on companies’ prospects. To bridge the perceived information gap‚ and to satisfy the information requirements of the standard setters‚ narrative reporting has come to the fore. In its various guises – Business Review‚ Management Commentary‚ Management Discussion
Premium Annual report Financial statements Balance sheet
Governmental Accounting Standards Board and Financial Accounting Standards Board Analysis Paper ACC/460 October 28‚ 2013 Governmental Accounting Standards Board and Financial Accounting Standards Board Analysis Paper The purpose of this paper is to review‚ compare‚ and show the contrast between the two accounting standard boards; Governmental Accounting Standards Board (GASB)‚ and the Financial Accounting Standards Board (FASB). The objectives of both Boards will be discussed as well as similarities
Premium Finance Financial Accounting Standards Board International Financial Reporting Standards
A practical guide to segment reporting September 2008 PricewaterhouseCoopers’ IFRS and corporate governance publications and tools 2008 IFRS technical publications IFRS Manual of Accounting 2008 Provides expert practical guidance on how groups should prepare their consolidated financial statements in accordance with IFRS. Comprehensive publication including hundreds of worked examples‚ extracts from company reports and model financial statements. IFRS Pocket Guide 2008 Provides a summary
Premium International Financial Reporting Standards Generally Accepted Accounting Principles Balance sheet
5 Reporting and Disclosure Discussion Questions 1. Transparent financial reporting means that timely and accurate disclosures are made on all important matters affecting a company’s financial position and performance. It implies openness‚ communication‚ and accountability. Transparent financial reporting protects investors because nothing is hidden from them. Investors can better assess the risks of owning securities when information is truthful and complete. Transparent financial reporting
Premium International Financial Reporting Standards Greenhouse gas Corporate social responsibility
(Hons) in Accounting and Finance Module Title: CORPORATE REPORTING Team Members: 1. LEE KEE TAR‚ UB: 11034518 2. JULIANA BTE ABDUL RAHMAN‚ UB: 11034517 3. VITHIA SUBRAMANIAM‚ UB: 11034521 4. ANG MING LIANG‚ UB: 12038344 Title: SEGMENT DISCLOSURE ARE WIDELY REGARDED AS SOME OF THE MOST USEFUL DISCLOSURE IN FINANCIAL REPORTS BECAUSE OF THE EXTENT TO WHICH THEY DISAGGREGATE FINANCIAL IMFORMATION INTO MEANINGFUL AND OFTEN REVEALING GROUPS.DISCUSS
Premium International Financial Reporting Standards Financial statements Balance sheet
Accounting Standards for the Public Sector Objective The objective of this Standard is to establish principles for reporting financial information by segments. The disclosure of this information will: (a) help users of the financial statements to better understand the entity’s past performance and to identify the resources allocated to support the major activities of the entity; and (b) enhance the transparency of financial reporting and enable the entity to better discharge its accountability
Premium Balance sheet International Financial Reporting Standards Profit
Inc. Graduate School of Business COMMENTARY: GLOBAL COMPARABILITY IN FINANCIAL REPORTING: WHAT‚ WHY‚ HOW AND WHEN? REACTION PAPER The commentary paper mainly deals with the evolution and convergence of accounting standards. In response to comparability & convergence issues that have arisen to date‚ the commentary has discussed what comprises global comparability in financial reporting‚ why it has arises and how they could make it into reality and its timeline
Premium Financial statements International Financial Reporting Standards