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IFRS Illustrated Financial Statement...?Running Head: IFRS Differences between IFRSs and US GAAP in the Income ment There are differences that exist between IFRS and US GAAP and this gets even more pronounced when one considers financial statements presented using either of the standards. Some of these variances in presentation can be seen in the comprehensive income statement presentation. There are several examples to illustrate this. IFRS 5, for example, requires that post-tax loss/income be part of the disclosures in the statement of comprehensive income or be put in another income statement’s contents where this is applicable. US GAAP, on the other hand, requires that post-tax loss/income...
4 Pages(1000 words)Essay
Application of Financial Statement...?Introduction This paper focuses on the practical aspects of financial ments. It is written in three parts. The first part examines the components of the income statement and how it can be applied to everyday life in a business. The second part discusses the benefits that a business manager can get if s/he understands the income statement. The final part of this essay evaluates the importance of the balance sheet and income statement to my career as an investment adviser and my future career of banker. The essay will utilize some secondary sources which will be referred to. This will be aided by critical analysis an explanations of components and importance of...
9 Pages(2250 words)Essay
Interpretation of financial statement...? Interpretation of Financial ment Contents Contents 2 COMPUTATIONAL OF KEY FINANCIAL RATIOS 3 Liquidity Ratios 3 Quick / Acid Test Ratio 3 Asset Management Ratios 3 Trade Receivables Collection Period 3 Fixed Asset Turnover 4 Total Asset Turnover 4 Debt Management Ratios 4 Trade Payable Payment Period 4 Gearing Ratio (Debt Ratio) 4 Profitability Ratios 5 Operating Profit Margin 5 Net Profit Margin 5 MARKET RATIOS 6 Earnings per Share 6 Book Value per Share 6 INTERPRETATION OF FINANCIAL INFORMATION AND RATIOS 6 Liquidity Ratios 7 Asset Management Ratios 7 Debt Management Ratios 8 Profitability Ratios 9 Market Ratios 9 QUESTIONS FOR THE FINANCE DIRECTOR 10 Bibliography 10 COMPUTATIONAL OF...
4 Pages(1000 words)Essay
Financial Statement Fraud...? Revenue Recognition Fraud Revenue Recognition Fraud In many occasions, companies find themselves in situations where they have to record their financial statements in the respective books of accounts in order to enable auditing as well as predict their profitability. Such financial statements that are crucial to an organizations accounts department include the balance sheet, the cash flow statements, profit and loss accounts, and the trial balance (Schrader & Toner, 2013). However, the process is not always rosy as sometimes it is marred with fraudulent incidences of all sorts with the most prevalent being the revenue recognition fraud. Since the...
3 Pages(750 words)Essay
Financial Statement...between native accounting system and IFRS or USGAAP will not serve any purpose. Already under US GAAP, for example, Monsanto and Dow give comparable statements under US GAAP which facilitate execution of switching trades simultaneously in the same exchange thus doing away with delay and settlement risk." Financial reporting is key. While it is clear that the development of an integrated European capital market is being hampered also by legal, political, regulatory and infrastructure barriers, financial reporting is a key element of the overall landscape. In order to function effectively, the capital markets require high-quality, reliable, relevant, comparable and transparent...
12 Pages(3000 words)Essay
Financial Statement Forecasting...Financial ment Forecasting of the of the Concerned Professor
August 24, 2008
Financial Statement Forecasting
Forecasting commands a paramount place in the scheme of things, so far as the future of a growing company like Strident Marks is concerned. Considering the fact that the company under consideration intends to pursue new business opportunities, an accurate forecasting will certainly enable it to tentatively predict the future possibilities in the light of its past history. It will go a long way in streamlining and prioritizing its budgetary and planning objectives. Financial...
3 Pages(750 words)Essay
Financial statement...Financial ments Introduction Financial ments are formal records of financial activities of businesses, people or organizations. Financial statements provide information about the reporting entity that is useful to existing and potential stakeholders. Information in a financial statement is presented in a simple structured form easy to understand, either as a balance sheet,income statement or a statement of cash flows.
A balance sheet reports on an organisation’s liabilities, ownership equity and assets at a given time. A balance sheet is a statement of...
7 Pages(1750 words)Essay
Financial Statement...Financial ment Financial ment The various activities included in the ment of Cash Flows The ment of cash flows has a number of activities, which include investing, operating, and financing. The operating cash flow activities refer to the quantity of money generated from the daily business operations. It is that amount of money accrued from making, selling, or offering products or services to the potential customers. They are the accounts or activities found on the income statement, by adding all the money gotten from the customers minus the monthly expenses.
The investing activities are those amounts generated by a company’s vehicle or equipment purchases, or any property or buildings...
1 Pages(250 words)Essay
Financial statement...The following ratios are copy pasted from the Athletic Attic Financial ment. Each ratio is explained as to profitability and risks. 2012
Receivables turnover ratio
12.02312139
11.73333333
Inventory turnover ratio
4.415584416
4.537815126
Current Ratio
14.01826484
16.77857143
Debt to equity ratio
0.252192213
0.265670403
Gross profit ratio
0.346153846
0.386363636
Return on assets
0.410938208
0.419091967
Profit margin
0.130769231
0.143181818
Asset turnover
3.142468651
2.926991518
1. Receivables Turnover ratio. I believe that based on the RTR , the overall risk and profitability of Athletic Attic has improved from 2012 to 2013 because the ratio of turnover of receivables has increased. This means accounts receivables...
1 Pages(250 words)Essay
Financial Statement...Financial Reports Financial Reports Explanation The preparation of the financial statement is under International Financial Reporting Standards. The presentation of the financial statement of the company is done in accordance to standard IAS 1 (IAS 1 — Presentation of Financial Statements, 2014). Since, the business is initially started the financial statements are mainly prepared for internal user only. The projected cashed flows, revenues and sales are based on the estimated attained from the average industrial turnover. Thus, the projections are subjected to change because of any change in the external or internal factors that may influence profits, revenues and expenses of the company. The amounts for the assets are reported... in...
2 Pages(500 words)Essay