CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Finance and Accounting Research Paper: The International Financial Reporting Standards...Task The International Financial Reporting Standards (IFRS) are a set of guidelines that are sued to guide accountantsand financial professionals in preparation and reporting financial information. This paper will discuss the IFRS in terms of its basic information; by discussing its foundation, and how it was formed. The founder of the IFRS, the IASB, is described, and its history as a global accounting body. This is followed by a description of the SAC, and the requirements of the IFRS. The GAAP, its difference with the IFRS, and the steps being taken to converge the two accounting models are then...
10 Pages(2500 words)Research Paper
The Choice between Formulation of Accounting Framework and Adoption of International Financial Reporting Standards: A Case of Developing Countries...? The Choice between Formulation of Accounting Framework and Adoption of International Financial Reporting Standards: A Case of Developing Countries [Student’s Name] [Course Title] [Instructor’s Name] [Date] The Choice between Formulation of Accounting Framework and Adoption of International Financial Reporting Standards: A Case of Developing Countries Businesses and organizations have gained significant benefits with the increase in globalization all over the world. Among many benefits, one key advantage associated with globalization is that it has enabled business entities to adopt...
16 Pages(4000 words)Essay
FINANCIAL REPORTING - INTERNATIONAL ACCOUNTING STANDARS...?A The mission of IASB is “to develop, in the public interest, a single set of high quality, understandable and international financial reporting standards for general purpose financial statement”. Critically analyse the challenges faced by the IASB in fulfilling its mission. Answer The international accounting standards are developed and issued by the International Accounting Standards Board (IASB). The IASB came into existence by replacing the International Accounting Standards Committee (IASC) in the year of 2001 (IAS Plus, web). The IASC was founded by an Accountants’ International Study Group in the year of 1973 (Wood & Sangster, 2008). The IASB is an independent accounting setting body. After formally converting... and implemented on...
12 Pages(3000 words)Essay
Financial Reporting - International Accounting Standards...? Financial Reporting – International Accounting Standards [School] Number] May 26, The essay discusses the challenges faced by International Accounting Standards Board in accomplishing its mission of introducing international financial reporting standards for general purpose financial statements. It further discusses about the key characteristics of International Accounting Standards Board’s framework. The essay finally discusses about development of International Financial Reporting...
12 Pages(3000 words)Essay
Financial Accounting and Reporting...?Financial Accounting and Reporting Table of Contents Table of Contents 2 Introduction 3 Analysis of the Financial ments of Axis Bank 4 Financial Ratio Analysis 9 Liquidity Ratios 9 Return on Equity 11 Return on Assets 12 Conclusion 12 References 14 Bibliography 15 Introduction The paper deals with LSE listed Indian bank of repute, Axis Bank Ltd. Axis bank was initially incorporated as ‘UTI Bank Ltd.’ in 1993 which offered products in retail as well as corporate banking (Pandit, 2008). The bank commenced its operating functions from the year 1994. It was the pioneer among the fresh private banks to start its operation after the permission was approved by...
7 Pages(1750 words)Essay
Financial Reporting : International Accounting Standard (IAS) 37 & IAS 10... Financial reporting Introduction The International Accounting Standard (IAS) 37 was introduced in the year of 1998. It sets out the accounting principles for Provisions, contingent assets and contingent liabilities. The standard clearly clarifies when these items should and should not be made. Before the issue of this standard there was great concern in this area of accounting where companies had been accused of manipulating the financial statements and of creative accounting.
Question (a)
The objective of (IAS) 37
The main objective of this accounting standard is to guarantee appropriate methodology for recognizing and measuring provisions of contingent liabilities and contingent assets.
IAS 37 was issued in order to deal... is required...
9 Pages(2250 words)Assignment
Islamic Accounting & Financial Reporting...Malaysia are planning to apply International Financial Reporting Standards in their Takaful insurance providers (Sherif & Shaairi, 2013). The identified approach towards financial reporting is ideally suitable and complimentary to Islamic Work Ethics and professional code of conduct. The IFRS focuses on both form and substance of the accounting cycle while; Islamic code of professional Ethics tends to support truthfulness in the business. In this way, both of the philosophies will play a significant role in terms of supporting and sustaining each other. However, the need to give the new system to operate over a longer period of time is...
10 Pages(2500 words)Assignment
Critical evaluation of the international Accounting Standard and Financial Reporting Standard that applied on BRITIVC plc...Critical evaluation of the International Accounting Standard and Financial Reporting Standard applied on BRITIVC plc. INTRODUCTION International Accounting Standards (ISAs) and International Financial Reporting Standards (IFRS) are those accounting standards that have been provided by International Accounting Standard Board (IASB) for the preparation of the financial statements. Majority of the countries across the globe have accepted IAS and IFRS as their primary framework for the preparation of...
12 Pages(3000 words)Essay
Financial Accounting and reporting...INTRODUCTION TO FINANCIAL ACCOUNTING AND REPORTING By of the of the School Date
INTRODUCTION TO FINANCIAL ACCOUNTING AND REPORTINGFinancial accounting and reporting relates to the process of summarizing, recording and issuing a report of a number of transactions arising from business operations in form of financial statements with an aim of presenting a true picture of its financial level and performance. It is the presentation of financial data relating to the performance, position as well as the flow of assets in a...
4 Pages(1000 words)Essay
Financial Accounting and Reporting...the financial statements particularly for the external users. It addresses the needs of different user because by addressing the reporting of the financial reporting, qualitative characteristics of the useful financial information, and by stating the definition, measurement and recognition of different elements of the financial statements (Alexander & Archer, 2008, pg. 2.20).
b) International Accounting Standards
IAS on the other hand, addresses the needs of the users by detailing the preparation of financial statements and by explaining the accounting treatment of...
15 Pages(3750 words)Assignment