CHECK THESE SAMPLES OF GAAP versus IFRS
It guides in the determination of the inventory cost and the subsequent recognition of an expense that includes write-down to the net realizable value.... It also guides on the cost formulas which are used in… Under this standard the inventories are measured at cost or net realizable value whichever is lower....
5 Pages
(1250 words)
Essay
ifrs 8, in this regard has stated “All the entities... The author in this article discusses the importance of the consistency of the accounting standards as the need of the hour because of the fact that the reliance placed on the principles has been, thus far, unable to ensure its application consistently and the management tends to… Today, after the world gained globalization, this issue has been eradicated and guidance materials such as the International Financial Reporting Standards and the Generally Accepted Accounting Principles Consistency can only be maintained in the companies throughout, if the accounting standards are itself consistent....
4 Pages
(1000 words)
Essay
Many publicly traded companies in the world today use International Financial Reporting Standards (ifrs) to give an account of their financial results.... The costs/benefits of the US moving to ifrs Many publicly traded companies in the world today use International Financial Reporting Standards (ifrs) to give an account of their financial results.... The decision of the US moving to ifrs has triggered a lot of debate, with many participants narrowing its effect to the various parties....
2 Pages
(500 words)
Essay
As countries listed with the EU securities market use the International Financial Reporting Standards for reporting purposes, it is concluded that the parent company prepares its consolidated financial statements according to the ifrs (Weygandt, Kimmel, & Kieso, 2010).... As per ifrs regulations, this adjustment is made in Fazer's statement of cash flows.... As per appropriate disclosures made in the financial statements of the two companies under review, the following information was gathered:
Relevant reporting standards used by Caribou… Operating within the United States, companies under the Security Exchange Commission are required to report their financial information along with appropriate disclosures as per the US gaap.
Fazer Group is based According to the disclosure in its Annual Review, standards appropriate to ‘current legislation' and the company's Articles of Association are used....
5 Pages
(1250 words)
Essay
ifrs is the global language for maintaining company Both US GAAP and the ifrs serve the same purpose of providing relevant financial information to the users of it, the only difference being in the objectives for which they operate.... The US GAAP has separate sets of objectives for business firms and non business users while the ifrs has the same sole objective for all of it users.... The following paper examines the pros and cons of the ifrs standards which is about to be implemented in the United States and tries to establish which one of the two is better from the overall perspective (IFRSUSA, 2011)....
5 Pages
(1250 words)
Research Paper
The preparation and publication of the financial statements are in the interest of various users of such information.... Different laws and… For that reason, international bodies have set up agencies whose primary function is to converge the varying accounting practices.... This essay, therefore, focuses on different users of financial statements and their needs, the legal and regulatory influences on financial statements, the implication of the regulations for the users, the role of the accounting and reporting standards and how the information needs of different user groups vary....
4 Pages
(1000 words)
Essay
Acquisition is identified to be a strategic approach, which mainly adopt by different multinational organisations to expand and develop their respective businesses in every region throughout the globe.... This concept is duly considered to be a positive integration of the… The strategic policy of acquisition often takes place between two companies that are mutually agreed to the terms and conditions specified....
8 Pages
(2000 words)
Essay
The author of the paper examines general criteria for the accounting of business combination under us gaap, analysis of HP-Compaq merger accounting treatment.... Accounting treatment of business combination under US gaap involves the combination of two distinct entities under a single financial statement.... US gaap highly recommends the adoption of purchase method in respect of merger and acquisition as part of the accounting treatment....
7 Pages
(1750 words)
Research Paper