GAAP Analysis: In business and economics‚ gap analysis is a tool that helps a company to compare its actual performance with its potential performance. At its core are two questions: "Where are we?" and "Where do we want to be?" If a company or organization is not making the best use of its current resources or is forgoing investment in capital or technology‚ then it may be producing or performing at a level below its potential. This concept is similar to the base case of being below one’s production
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to make the company look better is to use double declining balance depreciation on the equipment within the plant. With this type of depreciation there is less depreciation each year the machinery is older‚ therefore not as much money is being deducted from the revenue. As long as the communication company keeps the same equipment it will show an increase in net income because of the depreciation amount decreasing. On the balance sheet this will also look as if the assets of the business are increasing
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Comparing IFRS to GAAP Fair value accounting‚ sometimes known as mark to market accounting‚ has been around for many years and has applied to many types of assets and liabilities accounts. But‚ special attention has been placed on fair value reporting due to expanding use( or misuse) of financial instruments. FASB and IASB have issued exposure drafts focused on differences between international and U.S. Generally accepted accounting principles with respect to fair value accounting. Different
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ACCOUNTING AND FINACIAL REPORTING Group Project FINANCIAL STATEMENT ANALYSIS Due January 30‚ 2013 1. Focused on parts: 2 Balance Sheet and 3 Income Statement 2. Focused on parts: 1 General Information 3. Focused on parts: 4 Evaluation of the Corporation’s Disclosures 4. Focused on parts: ……………… (Although each member may focus on some specific parts for report preparation
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Financial Reporting under IFRS and US GAAP | | | University of Economics in Prague | | | Financial Reporting under IFRS and US GAAP | Property‚ Plant and Equipment Content Introduction - The companies 2 Specific Questions 5 Sources 19 Introduction - The companies AUTOMOTIVE INDUSTRY GENERAL MOTORS as representative of U.S. GAAP General Motors from the U.S. Detroit is‚ together with Toyota‚ the largest car manufacturer in the world. The company was established in 1908
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Comparing IFRS to GAAP ACC/ 291 11/3/2014 Lori Haines Comparing IFRS to GAAP GAAP Revenue Recognition GAAP rules for recognition are detailed regarding specific industries‚ such as real estate and software. It uses the "complete contract method" and has special rules for rendering software services. Organizations can recognize revenue from the sale of goods made delivery from a definitive agreement for a fixed fee that they are reasonably sure they will collect. Under GAAP‚ companies must wait until
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become the most popular thinker of his time. Both Jomini and Clausewitz share many similarities more than their differences yet they both do focus on two different camps of ideas‚ the importance of strategy and chaos in war. One of Jomini’s main points of interest in war is the importance of lines of operation‚ which is essentially the direction of army in land from its headquarter to a military target‚ in respect to the enemy. In this way‚ what he would concede to be the challenge of war is‚”… establish
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the Democratic Party and the Republican Party. Both parties choose candidates who they foresee running the country in a way that represents their party. These two parties differ in many ways. They have opposing beliefs and fight for different causes. Some of the issues that the parties opinions differ on are; the rights of abortion‚ gay marriage‚ taxes‚ military funds‚ and gun rights. Abortion has been a remaining question about if it should be banned or if it’s should be the mother’s right. The Democratic
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Hoàng Hồng Thủy – LQT40A THE DIFFERENCES BETWEEN BRITISH ENGLISH AND AMERICAN ENGLISH INTRODUCTION Those people who complain about the difficulties of learning German‚ don’t know how lucky they really are - they only have one language to master. Admittedly‚ there are regional differences of dialect in German-speaking countries‚ but the non-native speaker who has learned Hochdeutsch (high or standard German) should have no problems in making himself understood by citizens of Germany‚ Austria or Switzerland
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The Difference and Similarity between Schools in the United States and Afghanistan and Pakistan The novel Three Cups of Tea by Greg Mortenson and David Oliver Relin is about a mountain climber who risks his life in order to climb the second highest mountain (K2) on earth in honor of his sister. After getting lost and trying to find his way to a friend‚ Greg wanders off to a village‚ where he’s later welcomed in the village chiefs’ home. Seeing how the people lived‚ he promised to build the
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