quora
Nobody downloaded yet

International Financial Reporting - Essay Example

Comments (0) Cite this document
Summary to essay on topic "International Financial Reporting"
Generally, IAS 1 (which was last updated in 2007) prescribes the presentation basis of financial statements for general purpose which ensures that the entity’s in question financial statements are comparable with those of the previous period as well as of the other…
Download full paper
International Financial Reporting
Read TextPreview

Extract of essay "International Financial Reporting"

Download file "International Financial Reporting" to see previous pages... anges in a given period, cash flow statement for the period, financial position statement in the period’s balance sheet, comprehensive income statement and the notes which include a summary of explanatory notes and the accounting policies. Any given entity may apply titles for the stated above statements other than those referred to above.
Let us write or edit the essay on your topic "International Financial Reporting" with a personal 20% discount.. Try it now

A fair presentation as well as compliance with the International Financial Reporting Standards (IFRSs) is the emphasis of IAS 1.15. The use of the relevant IFRSs which contain additional disclosures as necessity calls for is usually presumed to have an end result of a set of financial statements which reflect a fair presentation as IAS 1.15 states. (iasplus.com, 2010)
According to the definition given under IAS 1’s stipulations, fair presentation is the requirement that there is a faithful representation of the transaction effects, other events as well as the conditions with emphasis on the recognition and definitions criteria for income, assets, liabilities and expenses stated in the framework. That entity which ensures that its financial statements are in accordance with the IFRSs shall do an unreserved and explicit statement of its compliance in the notes. Also any entity that describes its financial statements as complying with IFRSs where the case is contrary, then that entity will be in contravention with the IFRS requirements. (ec.europa.eu, 2010)
The reporting is required for general purpose financial statements as IAS 1 says. The main objective of these financial statements is to give information concerning the position of the business financially, cash flows and performance which is useful to various users while making decisions economically. So as to meet the objective, the entity’s financial statements provide such information as; liabilities, assets, equity, expenses and income cash flows and changes in equity. This information combined with notes to financial statements helps the users of such statements to ...Download file "International Financial Reporting" to see next pagesRead More
Cite this document "International Financial Reporting"
  • APA
  • MLA
  • CHICAGO
(“International Financial Reporting Essay Example | Topics and Well Written Essays - 3000 words - 3”, n.d.)
International Financial Reporting Essay Example | Topics and Well Written Essays - 3000 words - 3. Retrieved from https://studentshare.org/miscellaneous/1575921-international-financial-reporting
(International Financial Reporting Essay Example | Topics and Well Written Essays - 3000 Words - 3)
International Financial Reporting Essay Example | Topics and Well Written Essays - 3000 Words - 3. https://studentshare.org/miscellaneous/1575921-international-financial-reporting.
“International Financial Reporting Essay Example | Topics and Well Written Essays - 3000 Words - 3”, n.d. https://studentshare.org/miscellaneous/1575921-international-financial-reporting.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC "International Financial Reporting"
International financial reporting
According to the framework, the objective of financial statement is to provide information in regards to the financial position, performance and changes in financial position of an entity which are is useful to a wide range of users in making economic decision.
11 Pages(2750 words)Essay
International Financial Reporting
The application of IFRSs, with additional disclosure when necessary, is presumed to result in financial statements that achieve a fair presentation. (IAS 1.15) Introduction The year of 2008 was not a good year for the financial world. A harsh and sever wave of financial crisis was so powerful that it did not leave any option for financial companies but to shrink their payrolls, reduce their human capital, reduce work force, shut down their branches, franchises.
12 Pages(3000 words)Essay
Accounting (International Financial Reporting)
2010, para.1). “Composition of International Accounting Standard Board (IASB) 14 members, of whom one is appointed as Chair and
1 Pages(250 words)Research Paper
INTERNATIONAL FINANCIAL REPORTING
Had there been no framework, accounting standards would adopt the easier solution for a particular issue. A solution which is coherent with an interconnected theory of accounting would never be the choice. The Conceptual Framework
11 Pages(2750 words)Essay
INTERNATIONAL FINANCIAL REPORTING
Moreover, major implications of adopting IFRS for financial reporting have been discussed. To some extent, the argument of enhanced quality of financial reporting
12 Pages(3000 words)Essay
International Financial Reporting Standards
This Essay provides an adequate knowledge of International Accounting Standard (IAS) and General Accepted Accounting Principle (GAAP) and their comparison. Mainly we only emphasize on the 5 IAS and compare their similarities and differences with the GAAP.
8 Pages(2000 words)Essay
International Financial Reporting
To date, a total of 41 IAS have been released; however, 10 have been superseded by other IAS or IFRS (International Financial Reporting Standards); and 2 have been withdrawn by International Accounting Standards Board - IASB (IAS Plus, 2009). In addition to a description of each standard, this paper briefly discusses how the potential users of financial statement can benefit from the use of these standards.
13 Pages(3250 words)Essay
International Financial Reporting
Among the most substantial changes made during the revision of IAS 19 on American companies are the definition of employee benefits packages, retirement benefits, employment termination benefits plans, and several other kinds of employee benefits.
5 Pages(1250 words)Essay
International Financial Reporting Standards
This is unlike this is unlike the other existing financial reporting frameworks which, on the contrary, set rules, and regulations with
2 Pages(500 words)Essay
International Financial Reporting
The author provides examples of company’s financial reports with the constructive information that should offer a fair, faithful presentation and should give a ‘true and fair view” of the financial position of business so that the stakeholders can take informed decision on such financial information.
22 Pages(5500 words)Essay
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 Financial Reporting for FREE!
logo footer
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us