Financial Reporting (Problem Part 2) Mark R. Mitchell XACC/290 August 31‚ 2014 Jeanette Butler Financial Reporting (Problem Part 2) While doing my analysis of the financial statement for the company Veritiv‚ I find that the company assets are listed in the proper order; that being the most readily converted to cash first. The order for Veritiv balance sheet is cash and equivalents‚ followed by receivables‚ then inventories‚ and other current assets. The next item listed is other current
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The Role of Conservatism in Financial Reporting Table of Contents Introduction 3 Applications of Conservatism in Accounting 4 Advantages associated with Conservatism 7 Disadvantages associated with Conservatism 11 Recommendations and conclusions 14 References 17 Introduction This report investigates the application of conservatism in accounting and its role in financial reporting. We also examine and compare the advantages and disadvantages associated with conservatism and provide our opinion
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Framework for Financial Reporting I am from England‚ and here in the UK‚ unlike most countries‚ our system of government has no comprehensive written constitution. Many countries do have such constitutions and in these circumstances the laws of the land are shaped and influenced by the constitution. Now while the International Accounting Standards Board (IASB) is not a country it does have a sort of constitution‚ in the form of the Conceptual Framework for Financial Reporting (the Framework)
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MFRS 111 Malaysian Financial Reporting Standard 111 Construction Contracts This version includes amendments resulting from MFRSs with effective dates no later than 1 January 2012. 495 MFRS 111 CONTENTS paragraphs Preface MALAYSIAN FINANCIAL REPORTING STANDARD 111 CONSTRUCTION CONTRACTS OBJECTIVE SCOPE 1–2 DEFINITIONS 3–6 COMBINING AND SEGMENTING CONSTRUCTION CONTRACTS 7–10 CONTRACT REVENUE 11–15 CONTRACT COSTS 16–21 RECOGNITION OF CONTRACT REVENUE AND EXPENSES 22–35 RECOGNITION
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A sound financial reporting system‚ supported by high quality accounting standards and backed by a solid regulatory‚ governance and ethical framework‚ is a pre-requisite for economic development”. Economic development is affected by many factors; some believe that a strong financial reporting system is one of them. Throughout the report this will analysed and discussed to come to a sound understanding whether it does and if so‚ how effective it really is. High quality accounting standards
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Regulatory Environment of Financial Reporting Nicholas Vujnich Accounting 561 September 25th‚ 2014 Chelsea Bjorkman Regulatory Environment of Financial Reporting Over the last 100 years‚ there have been significant changes to the regulatory environment that shaped financial reporting requirements. The Securities Act of 1933‚ The Securities Exchange Act of 1934‚ and the Sarbanes-Oxley Act of 2002 are the most notable laws enacted to ensure transparency and accuracy in reporting. Each new law subsequently
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Financial Reporting Google is a publicly traded company which means that customer and stakeholders have access to the company’s financial information. The balance sheet and income statements are the two financial statements which gives a brief summary of a company’s overall financial condition. The balance sheet focuses and report figures of assets‚ liabilities and owner’s equity of the business. Assets are anything that a business has with a value such as furniture‚ liabilities are monies owe to
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EM6602 Accounting for Decision-Making and Control Microsoft’s Financial Reporting Strategy (HBR 9-100-027) Team Members Toh Wei Hong‚ Prashant Trivedi‚ Preethy Varadarajan Question 1 The difference between Microsoft’s market value and book value is primarily due to unrecorded intangible assets such as brand value‚ customer loyalty‚ human capital‚ and commercial advantages such as long-term contracts and market dominance. These intangible assets confer Microsoft a tremendous edge over its
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Table 1. Value-relevance papers classified by methodology and motivation View Within Article Table 2. Comparison of conservatism of US income numbers over time by reporting regime‚ 1927–1993Average coefficients from yearly cross-sectional regressions of earnings on contemporaneous returns for different reporting regimes (Ely and Waymire Data)‚ coefficients from pooled cross-sectional regressions of earnings on contemporaneous returns with dummies for different reporting regimes (Basu
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Microsoft’s Financial Reporting Strategy Q1. What are the factors that likely explain the equity and its reported book value of equity? Question 1 2 3 4 5 6 1999 Market Capitalisation: USD 460 Billion Book Value: USD 28 Billion MVE more than 16 times of BVE! Factor 1 Question 1 2 3 4 5 6 Intangible Assets • BVE does not reflect certain intangible assets’ value such as brand‚ customer loyalty‚ and human capital – Likely to provide tremendous earnings growth
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