international accounting. Despite this‚ there are differences in the way accounts prepared dependent upon the country which they take place. For example looking at two companies in the same manufacturing industry; Dell and Hartcourt Companies‚ Inc. the accounts are prepared under different regimes. Dell is a US computer distributer and hardware manufacturing company and the accounts are prepared according to the Generally Accepted Accounting Principles (GAAP). By comparison‚ Hartcourt Companies‚ Inc.
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IFRS in India... A Research Report Submitted for the partial fulfillment of MBA (Sem – III & IV) 2012-13 as a subject Management Research Project MRP on A Study of the Need & Adoption of IFRS in India. Submitted to: Submitted By Professor Hardik Shah Mr. Mukeshkumar Rajmal Jain & Roll No. 1414 Dr. Naresh Patel Center for Management Studies‚ Dharmsinh Desai University‚ Nadiad. Contents Page 1. Introduction Indian Accounting Standards 1 Need for Universal
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BP IFRS (Name) (Institutional Affiliation) Introduction Impact of any change in the business environment is always felt on the processes and procedures into place. In the past few years‚ overall business environment has gone tremendous ups and downs. During the last two decades‚ multinational companies have grown like they had never done ever in the history. Nations like India and China which have great population and market potential but were earlier following socialistic
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Implementing IFRS Extract from: IFRS compared with US GAAP and French GAAP Assurance Services The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information‚ there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without
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Consolidation and IFRS: an introduction Academic year 2010/2011 Patrice Schumesch Sebastian Harushimana Table of contents (1/4) Introduction - Why IFRS ? - General principles Measurement of assets and liabilities - Formation expenses - Intangible assets - Property‚ plant & equipment - Leases - Impairment of assets Slide 2 Consolidation and IFRS: an introduction Table of contents (2/4) Measurement of assets and liabilities (cont’d) - Government grants - Inventories and
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stands for International Accounting Standards Board; it is the independent board charged with the standard setting of the IFRS. The IASB is important because it develops and publishes the IFRS as well as provides rulings on interpretations of the IFRS. The IASB consist of 15 fulltime multinational members; the current chairman is Hans Hoogervorst from the Netherlands. IFRS stands for International Financial Reporting Standards and is the organization whose main goal is to “to develop a single
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Date: November 2nd 2011 Subject: Japanese accounting practices JAPANSE GAAP Japan in the year 2010 had a GDP of 4.31 trillion dollars making them the 4th largest in the world 1. With this being said it is important that other countries doing business in the nation have a strong knowledge of their accounting practices. Japanese accounting practices have been going through some major changes over the past 10 years. In 2001 Financial Accounting Standards Foundation (FASF) was formed as well
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express my thank to all those who have‚ directly & indirectly‚ helped me in completing my project work. INDEX Introduction IFRS in India Objectives of IFRS Scope of IFRS Does India need IFRS Standards ? Company profile [ JSW Steel Ltd. ] Data of collection Data Analysis Limitation of the study Methodology Conclusions and Recommendations Bibliography ABBREVIATIONS
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ifrs International Financial Reporting Standards (IFRS) are a set of accounting standards developed by the International Accounting Standards Board (IASB) that is becoming the global standard for the preparation of public company financial statements. The goal of IFRS is to provide a global framework for how public companies prepare and disclose their financial statements. IFRS provides general guidance for the preparation of financial statements‚ rather than setting rules for industry-specific
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Review and Discuss the General Rules for Agricultural Produce Using US GAAP and IFRS Under International Accounting Standard (IAS) 41‚ we presume fair value can be reliably measured for a biological asset‚ or a living animal or plant‚ and IAS 41 requires measurement at fair value less costs to sell (FVLCTS) from initial recognition of biological assets up to the point of harvest. The only expectation to the presumption is when initial recognition for a biological asset for which quoted market prices
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