Nobody downloaded yet

International Corporate Reporting Issues - Essay Example

Comments (0) Cite this document
Summary
Published financial statements of a company provide detailed information of the company’s financial aspects, it provide information not only about existing state of affairs of the company but about its future prospects as well, as it include Chief Executive, BOD, and key…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.5% of users find it useful
International Corporate Reporting Issues
Read TextPreview

Extract of sample "International Corporate Reporting Issues"

Download file to see previous pages As the financial statements contain information about different aspects of the business that include revenue, assets, liabilities, equity, expenses, along with details and in a complete standardize format, further these statements are also audited which further add reliability to these financial statements, but the basis upon which these financial statement s are prepared involve some factors that may hinder the effective decision making process these factors include,
Accounting estimates that are uses by preparers of financial statements while preparing these financial statements are subjective decisions, which is one of the big limitation of the financial statement as due to this factor the users of financial statements may be misled.
Professional judgment uses by preparer of financial statement is also one of the reason which undermine theuses of financial statements, as it involve judgment in preparation of financial statements that may be wrong and can ultimately hit financial decision taken by users of financial statements on the basis of these financial statements.
Verifiability of these financial statements through audit is not an absolute verifiable factor so one cannot take decisions like take over just on the basis of these financial statements while assuming that these are audited accounts,
Historical costing is also one of the reason that may cause users of financial statements to be misled as in historical costing asset are carried in the books as cost of asset less accumulated depreciation that may not be the market value hence it may miss lead the users.
Measurability is also one of the reason that undermine the uses of financial statements because it involve only those areas that can financially be measured and areas that cannot be valued or out of financial statements hence like good will and employees performance cannot be seen while reviewing financial ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“International Corporate Reporting Issues Essay Example | Topics and Well Written Essays - 3000 words - 1”, n.d.)
International Corporate Reporting Issues Essay Example | Topics and Well Written Essays - 3000 words - 1. Retrieved from https://studentshare.org/finance-accounting/1693456-international-corporate-reporting-issues
(International Corporate Reporting Issues Essay Example | Topics and Well Written Essays - 3000 Words - 1)
International Corporate Reporting Issues Essay Example | Topics and Well Written Essays - 3000 Words - 1. https://studentshare.org/finance-accounting/1693456-international-corporate-reporting-issues.
“International Corporate Reporting Issues Essay Example | Topics and Well Written Essays - 3000 Words - 1”, n.d. https://studentshare.org/finance-accounting/1693456-international-corporate-reporting-issues.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF International Corporate Reporting Issues

The International Accounting Standards Board (IASB) - The International Corporate Reporting Issues

...International Corporate Reporting Issues Accounting Conceptual Framework The International Accounting Standards Board (IASB) develops and issues the International Accounting Standards (IAS), which are also known as International Financial Reporting Standards (IFRS). The International Accounting Standards Committee (IASC) was replaced by the IASB in 2000 (IAS Plus, n.d.). Wood and Sangster (2008) highlights that the IASC was initially founded by an Accountant’s International Study Group particularly in 1973. The IASB is an international...
12 Pages(3000 words)Assignment

International corporate reporting issues

...?International Corporate Reporting Issues Faced By Diageo Table of Contents Table of Contents 2 Introduction 3 Identification and Explanation of Six Qualitative Characteristics of Accounting Information 4 Relevance 5 Faithful Representation 5 Comparability 6 Verifiability 6 Timeliness 6 Understandability 7 Company Profile 7 Three Areas Extracted from Diageo’s Balance Sheet 8 Taxation 8 Brands, Goodwill and Other Intangibles 10 Post-Employment Benefit 11 Qualitative Characteristics and Critical Evaluation of Their Application 12 Conclusion 14 References 16 Bibliography 21 Introduction The roles of International Accounting Standard Board (IASB) and...
12 Pages(3000 words)Essay

Access X-Stream from Home

6 Pages(1500 words)Essay

International corporate reporting issues

...? INTERNATIONAL CORPORATE REPORTING ISSUES (BMA 0056) Fahad Omar Bawazir U0969912Table of Contents INTERNATIONAL CORPORATE REPORTING ISSUES (BMA 0056) 1 Fahad Omar Bawazir 1 U0969912Table of Contents 2 An Overview of International Accounting and US GAAP Standards 3 Barriers to Adoption of International Accounting Standards 7 Conclusion 11 References 12 An Overview of International Accounting and US GAAP Standards 3 General Influencing Factors in Accounting Standards for the United States…………………….3 Barriers to Adoption of International...
9 Pages(2250 words)Essay

Corporate reporting

...financial information and this enables for there to be an expanded understanding of a company’s main information (Robins, 34, 2010).  Response to the questions posed by the Finance Minister; 1. In Breakavia, the best placed to help in support of the initial development of the regulation for corporate reporting are the upcoming companies and industries, such as those in the industrial sector and also those in the tourism industry. Corporate reporting brings about the much needed transparency that will bring development in the country. There are certain international practices that can be used as examples in this country. Some include those of the...
8 Pages(2000 words)Essay

Argumentation-Persusasion ( Legalize Marijuana)

2 Pages(500 words)Essay

Current Issues in Corporate Reporting

...companies. Such companies will also need to learn how to balance what information they need to give out and what they should not without losing out on the benefit of integrated reporting. There had been complains about the directors’ responsibility if the reports were to place more emphasis of the future. Guidelines had not been put in place to deal with responsibility of directors in the long term since the new corporate reporting placed emphasis in the future. There was therefore the need to address this issue before the guidelines formulated could be acted upon by all the corporate stakeholders in the international...
8 Pages(2000 words)Term Paper

Toyota Operations Exposure

17 Pages(4250 words)Assignment

International Corporate Reporting Issues

...shares Dividends paid to equity shareholders Net cash flows used in financing activities As preparation of cash flow statement is based on other financial statements therefor one should be aware about the estimates, materiality and professional judgments involved in these financial statements, (IASB, 2015) Further it is also evident from the study of financial statements of Britvic plc. That cash flow statement has been prepared in accordance with international financial reporting standards i.e. IFRS as all the requirements’ as per IFRS are fully complied, financial information presented in financial statements are sometimes presented just to fulfill regulatory requirements, not for the purpose of...
12 Pages(3000 words)Essay

International Corporate Reporting Issues

...International Corporate Reporting Issues Table of Contents International Corporate Reporting Issues 1 Table of Contents 1 An Overview of US GAAP Standards 2 General Influencing Factors in US Accounting Literature 3 Barriers to Adoption of International Accounting Standards 7 Comparative Study 8 Conclusion 12 Reference 13 Bibliography 16 An Overview of International Accounting Standards “Accounting provides useful information to decision makers, thus as the business environment has changed so have the accounting standards that govern the presentation and disclosure of...
12 Pages(3000 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic International Corporate Reporting Issues for FREE!

Contact Us