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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Advantages and Disadvantages of switching from U.S.GAAP to IFRS Nara Yoon Charles Center Summer 2009 2 Advantages and Disadvantages of switching from U.S.GAAP to IFRS In today’s business‚ markets are demanding increasing conformity. Many countries have converted to and implemented the International Accounting Standards Board (IASB)’s accounting standards. The United States‚ however‚ still maintains its own Financial Accounting Standards Board (FASB). Both IASB and FASB have created International
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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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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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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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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 vs. U.S. GAAP: Differences and Consequences of U.S. Adoption A Study of the Issue of Comparability Daniel Morey East Texas Baptist University Author Note This paper was prepared for managers and business owners who are concerned about the possible U.S. adoption of IFRS‚ and its effects on financial reporting and other effected areas. IFRS vs. U.S. GAAP: Differences and Consequences of Adoption A Study of the Issue of Comparability In the United States all publicly traded companies
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After the first of July 2005‚ the new standards (IFRS) start to use across national border. companies would be required to report current results under IFRS and restate recent results. They will also have to report their latest results under the old accounting standard‚ which should make comparing results on a like-for-like basis relatively straightforward. The purpose of this essay is going to give a general idea about advantages and disadvantage of IFRS‚ which has been widespread debate in the business
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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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5.13.205.60 Under the first approach in 5.13.205.40‚ management of Newco concludes that a business combination has occurred in which Newco is the acquirer (as the vehicle for the new shareholders). Accordingly‚ Newco applies IFRS 3 to the acquisition of both Y and Z. 5.13.205.70 Under the second approach in 5.13.205.40‚ the transaction is analysed as follows. • It is a business combination amongst entities under common control. • Newco chooses to apply book value accounting (see 5.13.50
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