A. The main purpose is to of the (IASB) develop and issue International Financial Reporting Standards and Exposure Drafts‚ and Approve Interpretations developed by the International Financial Reporting Interpretations Committee (IFRIC). B. How is the IASB made up IASB is originally made up of 14 members from different countries with experience covering wide areas of accounting and business. The objectives of the ISAB are: (a) to develop‚ in the public interest‚ a single set of high
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Conceptual framework for financial reporting Objectives 2.1 Why a conceptual framework? 2.2 IASB Framework for the Preparation and Presentation of Financial Statements 2.2.1 The objective of financial statements 2.2.2 Stewardship as an objective of financial statements: the current debate 2.2.3 Underlying assumptions 2.2.4 A note on the ‘going concern’ assumption 2.2.5 Qualitative characteristics of financial reporting information 2.2.6 Constraints on financial reporting 2.3 Elements of financial statements
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Reporting Contingencies and the Financial Statement When faced with a lawsuit you have to know whether or not to consider contingencies. According to Schroeder‚ Clark‚ and Cathey (2005) a contingency is a future event that could possibly have an impact on the firm. There are four different ways a contingency should come to view and they are income tax disputes‚ notes receivable discounted‚ accommodation endorsements‚ and what this company is dealing with a pending lawsuit. When a gain is possible
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It was a tough time for Americans‚ we went through the stock market crash and led up to The Great Depression. The types of planes that were designed in the 30’s were very unique from the kind of planes we see today. These kinds of planes weren’t just for hauling people
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Increased screen time may have unintended consequences for children. The article‚ "Screen Time Limits Are Vital for Children‚" makes it clear that children are ever-increasing the time they spend in front of screens and suffering for it. The author states‚ despite recommendations from doctors about limiting a child’s exposure to only 1-2 hours a day‚ parents allow an average of 7.5 hours a day. As a result‚ doctors are seeing an increase in physical and mental problems such as disruptive sleep‚
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streets with their buddies looking for something to keep them busy. Unfortunately‚ that "something to do" can and usually does get them in a lot of trouble. From drugs to violence to having sex‚ our teenagers are at risk. Young people with a lot of free time are potentially more open to get into trouble than those who are involved in sports. That doesn’t mean that every child who isn’t in sports is going to cause trouble but it does open up more opportunities for them to do so. After school sports provides
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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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Antonie de la Mothe sieur de Cadillac founded Detroit. On February 1‚ 1802 Detroit became a chartered city‚ covering about 20 acres. It is incorporated as a city of Michigan territory in 1806‚ unincorporated in 1809‚ and then reincorporated in 1815‚ this time for good. The population in 1815 was about 850. Forty-five years later in 1850‚ Bernhard Stroh opened Stroh Brewery Company‚ though the years Bernard acquired several brands including Old Milwaukee‚ and Colt 45. Almost fifty years later Ford established
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Court Reporting Throughout History Court Reporting dates all the way back to 1600 B.C. Court Reporters still play an important part in society today‚ just as they did hundreds of years ago. They help with everything from correctly transcribing testimony to the closed captioning on television. Yet‚ court reporting is a job that requires lots of dedication‚ time‚ and money. The cost of court reporting school today for a three-year program cost about $16‚381 with tuition and books. "It cost
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Emergency period media In June‚ 1975‚ Indira Gandhi’s government declared a state of emergency and suspended civil liberties. Immediately after this declaration‚ the government tightened its controls on the Indian mass media‚ especially o n the newspapers which had reputations of being free and lively. During the Summer of 1975‚ as Indira Gandhi became increasingly more threatened by the mounting criticisms of her government‚ she declared a state of emergency. Immediately she took control of the
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