to report under Canadian GAAP and instead use IFRS. This paper discusses three accounting topics to compare Canadian GAAP with IFRS. The three topics cover (1) conceptual framework‚ (2) property‚ plant and equipment‚ and (3) financial statement presentation. Conceptual Framework Both IFRS and Canadian GAAP are based on similar conceptual frameworks. Many of the basic concepts in IFRS (e.g.‚ the going concern assumption‚ accrual accounting) are similar to Canadian GAAP. Many recognition and measurement
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GAAP/IFRS Financial Statement Comparison Through this course we have been taking a closer look into the Generally Accepted Accounting Principles (GAAP) and the International Financial Reporting Standards (IFRS). The book lays out the major similarities and differences between the two separate but equal accounting methods. I say‚ “Equal”‚ in the sense that the IFRS and GAAP accounting methods are two different ways that the any company that could come to the conclude the financial statements
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George Smith Patton‚ Jr. was a United States Army officer best known for his leadership as a general during World War II. In WWII‚ he successfully defeated Nazi Germany on many battle fronts through his unique blitzkrieg military strategies. George Patton was a vital character in war history because of his tremendous achievements during his military years. Other than WWII he helped and inspired military ideas and strategies. For instance‚ he was the first to use a motor vehicle for battle. He was
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Margaret Fuller was born on May 23‚ 1810. Her full name was Sarah Margaret Fuller Ossoli‚ she was named after her paternal grandmother and mother and when she was nine she drooped the Sarah in her name and insisted on being called Margaret instead. She was the first child of Timothy Fuller and Margaret Crane Fuller. Her father taught her to read and write when she was three and a half‚ he forbade her to read the typical feminine fare at the time‚ such as etiquette books and sentimental novels. During
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under U.S. GAAP‚ include calculations‚ etc. + Pass off to Kathy/Chelsea to talk about Need space case. * Under US GAAP ASC 840-30 it would be treated as a capital lease * Lease term is> 75% of economic life * P.V. of MLP is > 90% of FMV of leased property * Record the asset and obligation at PV of MLP (ASC 840-30-30-1) * Depreciation- ASC 840-30-35-1 (a) and (b) gives guidance on how to depreciate when ownership transfers or not Under U.S. GAAP many things
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3-29-17 A1 Patton (1970) Drama‚ War‚ History Franklin J. Schaffner George C. Scott‚ Karl Malden‚ Stephen Young Academy Award for Best Picture The Truth: George S. Patton Jr. was a senior commanding officer of the United States Seventh Army in the Mediterranean and European scenes of World War II‚ and is best known for his dedicated leadership of the Third Army in Europe after the Allied invasion on the beaches of Normandy‚ France in June 1944. Before George was a General
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Hayley Eckhardt English 355 October 5‚ 2012 Trials of Feminism: Representations of Margaret Fuller Margaret Fuller has only recently become a popular subject for biographical research‚ as it was not until long after her death that her works were published in their complete form. Editors of her letters were very disrespectful of the material‚ and heavily censored or altered it before publishing. Furthermore‚ fellow contemporaries Hawthorne‚ Emerson‚
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BUSINESS ETHICS CASE STUDY OF H.B. FULLER H.B. Fuller and the Street Children of Central America Submitting Date: 09th April 9‚ 2008 Submitted To: Mr. Mohsin Rauf Submitted By: Khawaja Naveed Haider 073605-085 CASE STUDY OF H.B. FULLER H.B. Fuller and the Street Children of Central America Question No 1: Is H.B.Fuller responsible for the addiction of street children to its Resistol products? Do you agree or disagree with the statement that the social conditions in Honduras and
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US GAAP versus IFRS Due to the controversy economies have had towards which method to use for accounting‚ there has been a compromise to converge the two most commonly used methods – GAAP and IFRS. However‚ these two methods are still very different. The convergence project has yet to be completed; in the meantime‚ more and more countries are running towards the IFRS since it is more reliable and relevant. The main difference between these two methods is the US GAAP is rule-based while the IFRS
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October 9‚ 2012 US GAAP vs. IFRS The Financial Accounting Standards Board (FASB) developed the United States Generally Accepted Accounting Principles (GAAP) has been used in US corporations for over 75 years. It allows financial statements from all corporations to be compared accurately and efficiently‚ and serves as a guideline for accountants. GAAP is slowly being taken out for the International Financial Reporting Standards (IFRS) as global business goes across the world. GAAP applies only to
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