CHECK THESE SAMPLES OF Reducing the Use of Off-Balance Sheet Liabilities
o a greater extent one can see that the new accounting standards have helped to reduce the use of off-balance sheet liabilities.... The main problems discussed in the essay "Affect Of Impairment Testing and off-balance sheet liabilities On Reliability of Financial Statements" are the international accounting standard board IASB are appropriately determining the fair value of an asset or liability.... Following the recent wave of accounting scandals at Enron, Tyco International, and WorldCom, as well as the greater concern for off-balance sheet liabilities, the IFRS has issued a number of standards (IAS 32 Financial Instruments Disclosure and Presentation, IAS 39, IFRS 7 Financial Instruments Disclosures, and IAS 17 Leases) to help reduce bright lines that enable companies to use off-balance-sheet financing....
7 Pages
(1750 words)
Essay
The current assets are usually short-term assets and are meant to be for the short-term use of the business.... The paper "Depreciation, Current and Non-current Assets" highlights that the balance sheet represents a true and fair view of the financial affairs of the business as of any given date by exhibiting the true values of the assets and liabilities of the business.... "The assets of a business are physical resources owned and used by the business and are listed on the balance sheet to reflect the value....
11 Pages
(2750 words)
Essay
ccording to Shiva and Lynda (2003) off-balance sheet financing (OBSF) is a mode of organizing a financing transaction in such a way that it is not recognized easily as the entity's own liability.... It also covers the contingent liabilities of the firm represented by the letters of credit or loans to separate legal entities which are guaranteed by the parent company.... The Enron failure has given rise to several questions concerning the preparation and presentation of financial statements of accounts including off balance sheet financing resorted to by several corporate entities....
12 Pages
(3000 words)
Essay
off-balance sheet activities are part of an intriguing part of financial statements.... Some of the examples of the off-balance sheet items include; unconsolidated subsidiaries, operating leases, financial instruments such as hedging contracts and derivatives securities, and contingent assets/liabilities among many others (Bauman, 2003).... The off-balance sheet items; thus, provide a reason financial statements often fail to faithfully represent the economic substance....
5 Pages
(1250 words)
Essay
Lease specifies the contingent liabilities returns, fixing responsibility for maintenance of assets and availing of depreciation.... The research proposal 'Balance sheet of Leighton Ltd and Clough Ltd' shows and analyzes in detail the work of the two above-mentioned companies, focusing on leasing issues and also based on statistics for 2005 and 2006.... We will study the balance sheet of two companies Leighton Ltd and Clough Ltd in the light of this paper....
12 Pages
(3000 words)
Research Proposal
The author explains the rule of credits and debits varies for different accounts, based on the balance sheet and income statement.... ssumption: Cash would increase thus increasing the Cash account in the Balance sheet, and Equity would increase thus increasing the Equity account in the Balance sheet.... Both sides of the Balance sheet increase by $5000.... he primary objectives of accounting are to fairly present the financial information in the financial statements with necessary disclosures in accordance with Generally Accepted Accounting Principles (GAAP) so that users of the financial statements can use them to make informative decisions....
5 Pages
(1250 words)
Assignment
This paper critically evaluates the following the statements: “The problem of off-balance sheet accounting is rooted in the structure of the market economies and pressures upon companies to publish higher earnings and superior financial statements.... The paper "The Problems of off-balance sheet Financing" is a great example of a finance and accounting assignment.... The paper "The Problems of off-balance sheet Financing" is a great example of a finance and accounting assignment....
6 Pages
(1500 words)
Assignment
In meeting the objectives of this paper, the researcher will identify examples of off-balance sheet reporting.... xamples of off-balance sheet Reporting:
... good example of off-balance sheet reporting is the unconsolidated subsidiary.... 197) is against the use of off sheet balance reporting, in the financial records of companies.... 197) are against the use of off-sheet balance reporting, in the financial records of companies....
6 Pages
(1500 words)
Essay