Accounting Standard 27 Consolidated and Separate Financial Statements* * This HKAS 27 is applicable for annual periods beginning on or after 1 January 2005 but before 1 July 2009. HKAS 27 (Revised) issued in March 2008 is applicable for annual periods beginning on or after 1 July 2009 and supersedes this HKAS 27. 1 HKAS 27 COPYRIGHT © Copyright 2008 Hong Kong Institute of Certified Public Accountants This Hong Kong Financial Reporting Standard contains International Accounting Standards Committee
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reporting standard (IFRS). IFRS has been developed by International accounting standard board (IASB). As per IASB “IFRS refers to a set of international accounting standard stating how particular type of transactions and other events should be reported in financial statement” or‚ in other words IFRS refers to guidelines and rules that companies and organizations are required to follow in preparing and presenting their financial statements. Thus‚ IFRS are the rules‚ guidelines‚ standards set by IASB
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cannot be overemphasized. Equally important are the standards used to guild the application of accounting practice. Without principles and standards‚ financial reporting would not fairly present the financial position of a company. Accounting has changed and evolved vastly over time and continues to change. I will discuss the evolution and history of accounting‚ the Conceptual frame work of accounting‚ and the governing bodies which shape the standards and principles of accounting practice. The beginning
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Question 3: Frieda‚ an accounting student‚ states: “Strategy analysis seems to be an unnecessary detour in doing financial statement analysis. Why can’t we just get straight to the accounting issues? “Explain to Frieda why she might be wrong. Without strategy analysis‚ it is impossible to identify what drive profits and what are key risks. Moreover‚ assessing firm’s current performance and doing realistic forecasts of future performance are also directly linked with firm’s strategy. Three important
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The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) are undertaking the Conceptual Framework project jointly in order to create a sound foundation for the new accounting standard by revising the existing conceptual framework. The International Accounting Standards Board (IASB) is the dependent standard-setting body of the IFRS foundation. The IASB adopted the FASB in its framework as guidelines for the preparation IFRS that it published in 1989
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Principles (GAAP) varied in structure‚ format‚ and completeness. These variations led to confusion among users and it became more difficult to determine if they were using GAAP correctly. In response to this problem‚ the FASB developed the Accounting Standards Codification (ASC) whose main purpose is to provide users access to all of the generally accepted accounting principles in one place. The Codification eliminates obsolete information and presents all of the material in the same format and structure
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commercially species important are the common or China orange‚ C. sineusis; the mandarine orange‚ C. reticulata‚ some varieties of which are known as tangerins; and the sour or Seville orange‚C aurantium. The following report is a business plan of an Mandarin orange orchard‚ “Tree-mendus Orchard” /Six-seasons Orchard‚ Orange County” planned to have located near hill tracks of Goalbari‚ Moulovibazaar‚ Sylhet‚ having noted that‚ it is one of finest and most desirable place bumper cultivation of orange in
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The Mandarin Chinese language (and all other dialects of Chinese including Cantonese) lacks any kind of overt inflectional morphology. In Chinese‚ words are typically formed by one or two written characters. Each character is monosyllabic and can usually stand alone as an unbound morpheme‚ making inflectional changes more or less impossible. As a result‚ the Chinese language family has no method of overtly expressing tense‚ number‚ gender‚ etc. Instead of inflectional changes‚ Chinese uses context
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Are Dialects Just as Acceptable in Public Places Nowadays‚ most of Chinese people communicate with each other in Mandarin and the government also encourages speak Mandarin in public places. However‚ in my opinion‚ dialects still play an important role in some occasions and they are just as acceptable in public places. First of all‚ dialects are more than languages but culture of China. For example‚ along with the popularity of the double-people twist‚ their dialect is also very popular. The
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English learner‚ ‚ I constantly make grammatical and structural errors when writing in English even though I started learning English at a very early age and have a relatively better speaking and listening ability among my peers. In fact‚ many Asians‚ Mandarin users like me in particular‚ encounter such problem a lot when writing in the English language. As a consequence‚ I want to find out the main reason that causes me to write in English with the inverse (Chinese) structure all the time. In other words
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