• Accounting Standards Iasc Iasb International
    708 words
    "The role and history of the International Accounting Standards Board, including an examination of the Board's evolution and stance on ethics issues." The International Accounting Standards Board, (IASB), began life as the International Accounting Standards Committee (IASC) in the 1973. The IASC was created in June 1973 as a result of an agreement by the accountancy bodies of Australia, Canada, France, Germany, Japan, Mexico, the Netherlands, the United Kingdom and Ireland and the United States....
  • Internationalization Of Accounting Standards For Consolidation Japan
    2,183 words
    Internationalization of Accounting Standards for Consolidation - Japan: A CaseStudyThe purpose of this paper will be to examine problems with internationalization of accounting standards for consolidations on methods from an international perspective - specifically, in the US and Japan. This is an especially timely topic as standardization of financial markets is a prerequisite to international free trade. Given the trends toward greater globalization, the motivations of companies for seeking a ...
  • Segmental Reporting Information Segment Segments
    2,757 words
    Index 1 Introduction to segmental reporting 22 Origin of segmental reporting 22. 1 The fineness-theorem 22. 2 Market efficiency theory 22. 3 Agency theory 22. 4 Accounting theory 33 The most important segmental reporting standards 33. 1 International Accounting Standard 14 (IAS 14) 33. 1. 1 The International Accounting Standards Committee 33. 1. 2 The International Accounting Standards Board 43. 1. 3 IAS 14: Segment reporting 43. 1. 3. 1 Objective of IAS 14 (revised) 43. 1. 3. 2 Applicability...
  • Accounting Financial Statements
    1,692 words
    Preface Financial statements are prepared and presented for external users by many enterprises around the world. Although such financial statements may appear similar from country to country, there are differences which have probably been caused by a variety of social, economic and legal circumstances and by different countries having in mind the needs of different users of financial statements when setting national requirements. These different circumstances have led to the use of a variety of ...
  • Accounting Scandal National Standard
    3,264 words
    I should be guilty of dissembling if I were not to refer to the economic difficulties which have affected Japan recently along with several other countries. I assume that these difficulties have come as a shock to people in Japan because of their contrast with the prolonged period of economic success which preceded them. But they show, as history has shown so often, that the enjoyment of steady uninterrupted growth, over the very long term, is beyond the capacity of nations. Every country, no ma...
  • Corporations Law Advertising Agency
    1,117 words
    Corporations Law Short Anwersa) Any entity which is considered a reporting entity is required to prepare a report in accordance with the requirements of the Corporations Law. Briefly explain why you agree or disagree with the above statement. A reporting entity is defined as an entity for which there are users who rely on the financial statements, generated from its financial information, as their major source of financial information. These financial statements are used in the decision making p...
  • The Usefulness Of Financial Statements
    958 words
    The primary means of communicating the financial effects of organizational activities and transactions of a company to outsiders is the financial reporting system. This reporting system includes communicating financial information through annual financial statements, as well as through reports filed with the Securities and Exchange Commission, voluntary forecasts, and other financial and nonfinancial releases. Financial statements are the main source of financial information conveyed to parties ...
  • Accounting Standards International Ifrs Financial
    267 words
    To help you imagine what your company's accounts might look like under International Financial Reporting Standards, we have published fictitious financial statements for various types of entities to illustrate the disclosure and presentation requirements. In May 2002 the International Accounting Standards Board (IASB) published a revised Preface to International Financial Reporting Standards which defines IFRS to include standards and interpretations approved by the IASB as well as International...
  • Accounting Scams In Indian Context
    1,388 words
    The Investor's Perspective The last few months have unearthed a huge number of accounting scams in the world and especially in USA. Although this is not a new phenomenon what has come as a rude shock to markets and investors is the scale and the blatancy involved in these recent scandals. Most of these cases belong to the erstwhile reputed and giant companies and the 'cooking' done by them has surely left the investor with a very bad taste in his mouth. What has certainly not helped is the fact ...
  • International Accounting Standards 2005
    2,838 words
    Australian Companies are required to adopt International Accounting Standards by 1 st January 2005. What are the reasons for this move and what problems does it cause for financial reporting by these companies? Before we touch on the reasons and problems on financial reporting by Australian Companies, I shall give a brief introduction of International Accounting Standards and its impact on Australian Companies. Introduction Under the strategy announced by the Financial Reportin...
  • Expensing Stock Options Companies Compensation Ceo
    1,385 words
    Many Fortune 500 corporations in the United States are feeling pressure to classify stock options as an expense in the wake of the Enron Corporation and Worldcom accounting scandals. Due to the amount of money many of the executives from each of these companies made from stock options, the Securities and Exchange Commission needs to regulate stock options or force companies to expense the stock options on their annual and quarterly financial statements. Typically, an option plan gives the employ...
  • Tangible Assets Intangible Goodwill Aasb
    579 words
    The Australian Accounting Standards Board (AASB) is currently deliberating over the recent US accounting standards requiring that internally generated intangible assets and goodwill be valued and placed on the Balance Sheet. This will require the Valuation of Patents, Trademarks, Customer Lists, R&D (Commercialisation phase) and any other Intangible Asset deemed separable or legal / contractual in nature. Goodwill will no longer be a mortised, but valued and tested for impairment annually. In co...
  • Intangible Asset Ias Accounting Standards
    1,338 words
    IASB WEBSITE ACCESSED ON 24/10/2003 12 PM S 38: Intangible Assets IAS 38, Intangible Assets, was approved by the IASC Board in July 1998 and became operative for annual financial statements covering periods beginning on or after 1 July 1999. IAS 38 supersedes: . IAS 4, Depreciation Accounting, with respect to the amortisation (depreciation) of intangible assets; and. IAS 9, Research and Development Costs. In 1998, IAS 39: Financial Instruments: Recognition and Measurement, amended a paragraph of...
  • Shanghai Petrochemical Company Limited
    624 words
    Sin opec, or China Petrochemical Corporation, is the major shareholder of four chemical subsidiaries including Julian Chemical Industrial Company, Yizlang Chemical Fibre Company, Ti ayin Bahai Chemical Company and Shanghai Petrochemical Company. Shanghai is one of the largest petrochemical companies in China, which produces four divisions of products containing 66 different types of products. The divisions are petroleum products, intermediate petrochemicals, synthetic resins and plastic products...
  • Accounting Synopsis Aasb 1024
    1,533 words
    The Corporations Law Accounting Synopsis The Corporations Law which came into effect in January 1991, has made substantial changes to the way business is conducted in Australia. Previously some illegal practices are now legal, and some legal practices are now deemed to be illegal. Under the Corporations Law finical statements have to be made out in accordance to the various accounting standards. AASB 1024 and AASB 1013 are two such standards. Both these standards have been through a reform proc...