introduction to international financial reporting standards ppt

... (IASB) adopted the first iteration of International Financial Reporting Standards (IFRS) to serve as a possible pathway for establishing uniform global accounting standards Since then, IFRS has been ... convergence is unlikely to get to the point where the two sets of standards are truly identical This view has led some to call for the United States to adopt IFRS outright to replace US GAAP In ... listening to those with the most at stake in quality audits and credible financial reporting, the CAQ is working to make public company audits even more reliable and relevant for investors, to facilitate...

Ngày tải lên: 17/02/2014, 09:20

... Goes International The Analyst’s Accounting Observer 16 (11) Exercises International Financial Reporting Standards is comprised of which of the following? a International Financial Reporting Standards ... http://www.iasb.org/IFRS+Summaries/IFRS+and+IAS+Summaries+English+2008/IFRS+and+IAS+Summaries+English.htm Incorporating IFRS into Intermediate Accounting Unit – Introduction Unit – Introduction Why learn IFRS? International Financial Reporting Standards, commonly referred to as IFRS, are gaining ... b How are International Financial Reporting Standards enforced? a Enforcement Committee of the International Accounting Standards Board b Regulatory bodies of individual countries c International...

Ngày tải lên: 18/02/2014, 01:20

... financial impact of non-compliance 76 • Guide to International Financial Reporting Standards IAS Inventories ISSUED OR LAST REVISED December 2003 EFFECTIVE DATE Financial statements covering periods ... acquisition of inventories invoiced in a foreign currency • Interest cost when inventories are purchased with deferred settlement terms 78 • Guide to International Financial Reporting Standards It is ... is not subject to depletion and does not have any limitations to the owner as regards its useful life should not be depreciated 100 • Guide to International Financial Reporting Standards Subsequent...

Ngày tải lên: 14/08/2014, 05:20

... the International Accounting Standards Board (IASB) The IASB now uses the term International Financial Reporting Standards (IFRSs) Accounting Standards Board (AcSB) The AcSB has the authority to ... Handbook Accounting Standards Board (ASB) The national standard-setting body in the United Kingdom that issues Financial Reporting Exposure Drafts (FREDs), Financial Reporting Standards (FRSs), ... the right to develop and promote accounting standards in Arab countries The ASCA publishes the Arabic language version of International Accounting Standards (IASs) and International Standards...

Ngày tải lên: 14/08/2014, 05:20

... agreement to revise them or it can apply to the courts to compel the organization to revise them Financial Reporting Standard (FRS) The term used in a number of countries to refer to accounting standards ... issued International Financial Reporting Standards (IFRSs) The term used by the International Accounting Standards Board to include standards and interpretations it has issued and the International ... annual running costs of the International Accounting Standards Board (IASB) International Financial Reporting Interpretations Committee (IFRIC) The International Financial Reporting Interpretations...

Ngày tải lên: 14/08/2014, 05:20

...  An Introduction to English Syntax Jim Miller An Introduction to English Phonology April McMahon An Introduction to English Morphology Andrew Carstairs-McCarthy An Introduction to Middle ... language are so difficult to define and so open to misinterpretation, it is often better to avoid them where possible To this, we use the term ‘variety’ We can use ‘variety’ to mean a language, a ... and phrases such as the bunyip aristocracy are likely to be met only in Australia English only has the word bunyip to denote bunyips, too, but the word is likely to be much more restricted in its...

Ngày tải lên: 09/12/2013, 15:15

... periodicals 1 INTRODUCTION TO INTERNATIONAL FINANCIAL REPORTING STANDARDS INTRODUCTION International Accounting Standards (IAS), now renamed International Financial Reporting Standards (IFRS), ... efforts to so International Financial Reporting Standards (IFRS) Standards and interpretations adopted by the International Accounting Standards Board (IASB) They include (a) International Financial ... as its own Standards Those IAS continue to be in force to the extent they are not amended or withdrawn Chapter / Intro to International Financial Reporting Standards by the IASB New Standards...

Ngày tải lên: 05/01/2014, 00:50

... certain industry sector begins to report their financial results using IFRS, there will likely be pressure for U.S issuers to the same, to allow investors to better compare their financial results ... and analysis to be done as the SEC considers whether to incorporate IFRS into the U.S financial reporting system for U.S issuers The FASB and the IASB have been working together toward convergence ... since, the AICPA has worked to advance international convergence of accounting standards The AICPA provides thought leadership to the IASB on financial reporting topics The Institute has made...

Ngày tải lên: 29/03/2014, 18:20

... Part Two GUIDE TO INTERNATIONAL FINANCIAL REPORTING STANDARDS Introduction to the Guide Framework for the Preparation and Presentation of Financial Statements Summary of Individual Standards 59 ... accounting standards would be called International Financial Reporting Standards (IFRSs) Standards issued by the IASC that are still in circulation are referred to as International Accounting Standards ... predecessor The International Accounting Standards Board • 17 The IASB and IOSCO continue to work together to resolve outstanding accounting and reporting issues and to identify areas where new standards...

Ngày tải lên: 14/08/2014, 05:20

... 62 • Guide to International Financial Reporting Standards IAS 40 IAS 41 IFRS IFRS IFRS IFRS IFRS IFRS Investment Property Agriculture Preface to International Financial Reporting Standards First-time ... Accountancy U.K (October 2002): 110–112 International Accounting Standards Committee IASC Constitution IASC, May 2000 International Accounting Standards Board International Financial Reporting Standards ... 72 Introduction to the Guide In April 2001, the International Accounting Standards Board (IASB) announced that future accounting standards would be called International Financial Reporting Standards ...

Ngày tải lên: 14/08/2014, 05:20

... NATIONAL STANDARDS Australia: AASB 1016 Malaysia: MASB 12 Germany: GAS New Zealand: FRS 38 Taiwan: SFAS United Kingdom: FRS 128 • Guide to International Financial Reporting Standards IAS 29 Financial ... ventures and the reporting of joint venture assets, liabilities, income, and expenses in the financial statements of venturers and investors 132 • Guide to International Financial Reporting Standards ... EXAMPLES OF RELATED NATIONAL STANDARDS Australia: AASB 1004 Canada: CICA Handbook 3400 Malaysia: MASB Taiwan: SFAS 32 108 • Guide to International Financial Reporting Standards IAS 19 Employee Benefits...

Ngày tải lên: 14/08/2014, 05:20

... another investor • To govern the controlled entity’s financial and operating policies by means of statute or agreement 168 • Guide to International Financial Reporting Standards • To appoint or ... an insurance company EXCLUSIONS • Financial instruments carried at fair value • Non-onerous executory contracts 148 • Guide to International Financial Reporting Standards • • • • • • • Policy liabilities ... exceed the benefit to users of financial statements 162 • Guide to International Financial Reporting Standards MAIN REQUIREMENTS An entity should comply with each IFRS effective at the reporting date...

Ngày tải lên: 14/08/2014, 05:20

... established in 2001 to provide the European Commission with support and advice on the adoption of International Accounting Standards and to provide input to the International Accounting Standards Board ... than a deed, is to be valid It usually consists of a promise to or not to something or to pay a sum of money consignee Any person or organization to whom goods are sent, usually to sell the goods ... departments director A person appointed to carry out the day -to- day management of a company The directors of a company, collectively known as the board of directors, usually act together, although...

Ngày tải lên: 14/08/2014, 05:20

... (the mandator) to another (the mandatory), giving the latter the power to act on behalf of the former The mandate comes to an end on the death, mental illness, or bankruptcy of the mandatory manufacturing ... implemented to improve accounting practices Norwalk Agreement An agreement entered into in 2002 by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board ... implements new regulatory standards that accounting organizations need to meet in order to grant the licenses, harmonize the process with evolving national and international standards, and improve...

Ngày tải lên: 14/08/2014, 05:20

... 153 Financial performance indicators, 48, 99, 101 Financial Reporting Council Australia, 25 Financial Reporting Foundation Malaysia, 35 Financial Reporting Review Panel U.K., 21 Financial Reporting ... (United Kingdom) Financial Reporting Foundation (Malaysia) Financial Reporting Release (United States) Financial Reporting Review Panel (United Kingdom) Financial Reporting Standards (New Zealand, ... relating to the stewardship or accountability of management allows shareholders to decide whether to hold or sell their investment or whether to discharge management Refer to F.15 stock See share stock...

Ngày tải lên: 14/08/2014, 05:20

... periodicals 1 INTRODUCTION TO INTERNATIONAL FINANCIAL REPORTING STANDARDS INTRODUCTION International Accounting Standards (IAS), now renamed International Financial Reporting Standards (IFRS), ... efforts to so International Financial Reporting Standards (IFRS) Standards and interpretations adopted by the International Accounting Standards Board (IASB) They include (a) International Financial ... as its own Standards Those IAS continue to be in force to the extent they are not amended or withdrawn Chapter / Intro to International Financial Reporting Standards by the IASB New Standards...

Ngày tải lên: 11/09/2014, 16:58

... have the capacity to produce financial statements Users have knowledge and skills to analyze financial statements Users have ongoing access to training to overcome lack of financial statements ... identified some possible approaches to meet accounting and financial reporting needs of all enterprises ISAR has developed a three-tired level structure to meet the financial reporting needs of all enterprise ... language Owners/managers to asses cash Owners/managers prefer to have financial information made by an accountant like auditor/advisor Owners/managers prefer to have financial information for...

Ngày tải lên: 17/02/2014, 09:20

... according to the Constitution of the International Accounting Standards Committee Foundation (IASCF), is published in English See International Financial Reporting Standards, including International ... Reporting Standards, including International Accounting Standards and Interpretations as at January 2007,” Preface to International Financial Reporting Standards, at paragraph 23 See http://www.iasb.org/xbrl/index.html ... roundtables on the topic of interactive data financial reporting, 62 creating the Commission’s 58 However, well-developed and widespread application of XBRL to financial reports used by investors is not...

Ngày tải lên: 29/03/2014, 18:20

Ngày tải lên: 08/08/2014, 07:20