fiscal year when goals/expectations need to be met so the auditors need to wait until the books are closed to begin their review. B. Managers often report ‘pro-forma’ or ‘non-GAAP’ earnings as supplemental information when reporting their GAAP earnings. i. What info can a pro-forma earnings number provide that the GAAP earnings number does not? Give examples of possible differences that might exist between the two earnings numbers. The pro-forma number can provide a better baseline representation
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includes all changes in equity during a period except those resulting from investments by owners and distributions to owners. (b) Other comprehensive income comprises revenues‚ expenses‚ gains and losses that‚ in accordance with primary sources of GAAP (see GENERALLY ACCEPTED ACCOUNTING PRINCIPLES‚ Section 1100)‚ are recognized in comprehensive income‚ but excluded from net income. PRESENTATION .04 ¨ An enterprise should present comprehensive income and its components in a financial statement with
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Freeman‚ K. (2010). Setting a standard in transparency and ethics. Retrieved from http://www.healthcarefinancenews.com/blog/setting-standard-transparency-and-ethics on 23 January 2012 Investopedia. (n.d.). Generally Accepted Accounting Principles - GAAP. Retrieved from http://www.investopedia.com/terms/g/gaap.asp#axzz1kKis7xEz on 23 Januay 2012. Tyler‚ J. L. (2004). Maintaining the strength of your convictions: given the recent rash of ethical transgressions within and beyond health care‚ discussions
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examination ‚ auditing and settlement of accounts. Power and Functions of the Commision 1.To examine ‚ audit ‚ and settle accounts. 2.To act as central accounting office of the government. 3.To define the scope of its audit and examination. 4.To promulgate accounting and auditing rules and regulations. 5.To submit an annual financial report and recommend measures. 6.To perform other duties and functions. CONCEPT OF EXAMINATION‚ AUDITING‚ AND SETTLEMENT OF ACCOUNTS 1. Examine 2. To Audit is to
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accomplish. Effective planners define strategies when planning and seek the input of everyone involved in the process‚ and ensure everyone supports the plans and understands their roles in executing the plans. Generally accepted accounting principles (GAAP) usually are regarded
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Financial Reporting Practices Financial Reporting Practices Health Care Financial Accountin September 7‚ 2011 Ethical standards in financial reporting are essential. Tools have been set in place to ensure that this takes place. Some of these tools are agencies that have been established‚ elements of financial management‚ and Generally Accepted Accounting Principles. Several administrative agencies have been established to strive to create a more standardized and ethical standard
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UK. It describes the key factors in the business environment which influenced accounting system development as well as the regulatory frameworks. It tabulates and compares significant accounting rules and methods prescribed by both UK and Nigerian GAAPs‚ using the Financials of Dangote Cement Plc‚ a hugely market capitalized indigenous Nigerian company (10% of Nigerian stocks exchange) with factory footprints across Africa. FACTORS INFLUENCING ACCOUNTING SYSTEM IN NIGERIA. There is a unanimous
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Donald E. Kieso‚ accounting principles 2012 Microsoft Corporation‚ Template http://office.microsoft.com/en-us/templates/pro-forma-income-statement-TC101877359.aspx A Securities and Exchange Commission Staff Paper November 16‚ 2011‚ A Comparison of U.S. GAAP and IFRS http://www.sba.gov/category/navigation-structure/starting-managing-business/starting-business/how-write-business-plan University of Washington‚ Financial Accounting‚ http://f2.washington.edu/fm/fa/internal-controls
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According to the study based on Livent‚ Inc.- An Instructional Case‚ The former senior management of Livent engaged in a multi-faceted and fraud accounting since eight years. As a further result of the scheme‚ Drabinsky and Gottlieb’s elaborated their Fraudulent Kickbacks‚ Fraudulent Manipulation of Livent’s Books and Records to accomplish in quarterly periods and meet the earnings which they provided to Wall Street analysts. Further more three Accounting Manipulations were found by transferring
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Acknowledgement I would like to pay my sincere thanks to‚ University of Delhi‚ South Campus for endowing me with the precious insights needed for working out this Project. He has been very instrumental in communicating the core of this project study and thus without his direction‚ the very inception of this work would not have been possible. Q1. Whether a country’s capital market is debt –oriented or equity oriented has a significant impact on the financial reporting that develops in the
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