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From there, you will decide which reporting standard is best for your company and which disclosure standards would be most appropriate.
Explain why the internationalisation of accounting standards may not necessarily be a good thing. Explain three criticisms of Positive Accounting Theory (PAT).
Jan Petri is the owner and operator of Go-For-It LLC, a motivational consulting business. Determine the Owner's equity as of December 31, 20Y8.
Identify some of the safeguards the AICPA has created to guard against threats to fundamental ethical principles.
In the IASB's accounting standard - IFRS 13, Fair Value Measurement is discussed. Explain the two approaches that can be used to determine Fair Value?
What is your opinion about the value of harmonizing accounting standards for global equity markets? Explain.
What conclusions can you draw from this court case regarding ethical standards? Do you think more regulations should have put in place to ensure ethics in case?
Discusses the impact that regulations, accounting, and auditing standards have on the ethics of accountants and auditors.
Calculate the present value of minimum lease payments for Bird Ltd (round to the nearest dollar, show all working out).
Which method, indirect or direct, is acceptable for reporting operating cash flows under IFRS?
Assume that TKR Corp. paid a $125,000 dividend on November 1, 2011, and reported a net income of $550,000 for 2011.
On December 31, 2011, Rollo Company held the following short-term investments in its portfolio of available-for-sale securities.
On March 22, bought 700 shares of Frain Industries common stock at $25 cash per share plus a $250 brokerage fee.
Prepare the December 31, 2011, year end adjusting entry to record the fair value adjustment for these securities.
Shaq Security, which began operations in 2011, invests in long-term available-for-sale securities.
Identify at least eight types of short-term investments held by Microsoft as of June 30, 2009.
response each of the following related to international accounting standardsa in general how similar or different are
Describe how IFRS and U.S. GAAP treat increases in the value of plant assets subsequent to their acquisition .
Research the most important impact that the mission of the Emerging Issues Task Force (EITF) exerts upon the Financial Accounting Standards Board.
Explain how the purposes and principles of internal controls are different between accounting systems reporting under IFRS versus U.S. GAAP.
Explain how the accounting for items and costs making up merchandise inventory is different between IFRS and U.S. GAAP.
Explain how the accounting for merchandise purchases and sales is different between accounting under IFRS versus U.S. GAAP.
A retail company recently completed a physical count of ending merchandise inventory to use in preparing adjusting entries.
Explain how the closing process is different between accounting under IFRS versus U.S. GAAP.
Describe the differences in cash flow statements required by GASB standards when compared with cash flow statements required by FASB standards.