Premium Essay

Ifrs Analysis

In: Business and Management

Submitted By Ravimodi
Words 486
Pages 2
IFRS Case Analysis
By Vicky D Modi (13A2HP061)
Foundation of IASB finalized in the year 2001 and IASB is highly aligned with FASB (Financial accounting standards board) in terms of organization and governance. IASB is London-based standard setting body for IFRS and unveiled proposal on valuation of financial instrument which had affected more than 120 countries in world. From the beginning, the EU has emerged as IASB’s main underwriter and clients. EU delegated European accounting standard to IASB and all listed companies have to follow IFRS, main purpose behind proceeding was to reinforce the establishment of a single European capital market. Why should countries adopt IFRS? 1. It follows consolidated financial reports 2. IFRS is flexible 3. In order to reduce books and ambiguity The IASC initiative to reduce international differences in accounting practices. During period of time many events led changes such as 1. To avoid preparing multiple sets of book under different accounting regimes 2. To harmonize global financial reporting systems 3. Scandals emerged from 1997 southeast Asia IASB gained international acceptance in 10th anniversary with around 120 countries excluding China, India, Russia, US. Australia and Hong Kong has adopted IFRS as it is. Japan permitting IFRS from 2010, Brazil and South Korea allowed from 2011, Mexico and Argentina from 2011, India starting convergence from 2011.    European Union adopted IFRS in 2005 first time when 7000 EU companies has prepared report IFRS compliant. IASB gained global acceptance when japan allowed its domestic listed companies to report under IFRS with option of US GAAP. China started first convergence with IFRS in the year 2006 and remained to be flexible and adjust accounting rules to the need of a national economy. The china standard ASBE is differed with IFRS in following way

1. China restricted use of

Similar Documents

Premium Essay

Marketing

...QA Concept Introducing LoadRunner  • Why should you automate performance testing?  • What are the LoadRunner components?  • Understanding LoadRunner Terminology  • What is the load testing process?  • Getting Familiar with HP Web Tours  • Application Requirements  The Power of LoadRunner  • Creating the Load Test  • Running the Load Test  • Monitoring the Load Test  • Analyzing Results  Building Scripts  • Introducing the Virtual User Generator (VuGen)  • How do I start recording user activities?  • Using VuGen’s Wizard mode  • How do I record a business process to create a script?  • How do I view the script?  Playing Back Your Script  • How do I set the run-time behavior?  • How do I watch my script running in real time?  • Where can I view information about the replay?  • How do I know if my test passed?  • How do I search or filter the results?  Solving Common Playback Problems  • Preparing HP Web tours for playback errors  • How do I work with unique server values?  Preparing a Script for Load Testing  • How do I measure business processes?  • How do I emulate multiple users?  • How do I verify Web page content?  • How can I produce debugging information?  • Did my test succeed?  Creating a Load Testing Scenario  • Introducing the LoadRunner Controller  • How do I start the Controller?  • The Controller window at a glance  • How do I modify the script details?  • How do I generate a heavy load?  • How do I emulate real load...

Words: 468 - Pages: 2

Free Essay

Preparing Business Scenario Analyses

...Preparing Business Scenario Analyses The following general guidelines may be used in preparing for an oral or written business scenario analysis and presentation. There may be several feasible courses of action regarding the solution to any case. It is more important to concern yourself with the process of problem definition and isolation, analysis, and evaluation of alternatives, and the choice of one or more recommendations, rather than trying to find a single answer. Very often, the right answer is the one that you can propose, explain, defend, and make work. • The Process of Analyzing a Case 1. Read and study the scenario thoroughly and efficiently. Read the scenario once for familiarity, noting issues that come to the forefront. Read the scenario again. Determine all the facts, making notes about symptoms of problems, root problems, unresolved issues, and roles of key players. Watch for issues beneath the surface. 2. Isolate the problem(s). Get a feel for the overall environment by putting yourself in the position of one of the key players. Seek out the pertinent issues and problems. 3. Analyze and evaluate alternatives. a. Once the problems and issues are isolated, work at gaining a better understanding of causes. In what area of the unit do the problems exist? Why? What caused them? Examine and evaluate the strengths and weaknesses of the unit’s processes (e.g., planning, communication), human behaviors, and/or exhibits (e.g., financial statements,...

Words: 505 - Pages: 3

Free Essay

Pest Analysis

...PEST Analysis One way of planning your business is to undertake a PEST analysis.1 PEST analysis involves looking at the Political, Economic, Socio-cultural and Technological factors that could affect your business. Every business needs to consider a range of external forces in order to take decisions. For many people imagination is very limited and is coloured solely by their own experience and personal beliefs. This can lead to wish fulfilment or a refusal to see reality or recognise the critical changes that are happening in the world around them. It can also lead to grabbing short-term solutions that, if they do not exacerbate problems, certainly ignore the longer term. In the business world pressure is often applied to take decisions quickly, acting on judgement and instinct rather than careful analysis. There are many driving forces in the external environment that might impact on your business. These can be categorised as: • Social; • Technological; • Economic; • Environmental; and • Political. Social forces Social forces include, for example, changing demography and education, etc. The population in Western Europe is relatively static, but the age bands are changing. The number of older people, for example, is growing rapidly. Technological forces Technological forces are changing dramatically quickly. What effects will this have on your production, marketing and distribution plans? Depending on your market, technology might either raise or lower entry barriers...

Words: 371 - Pages: 2

Free Essay

Anaylsis for Emc

...Fall 2015: Industry Analysis in Emerging Markets Your role in this analysis is to work with your team and to look at emerging technologies. From autonomous drones to emergent AI to 3D printers, you are going to research and get a better understanding of our fast-approaching technological future. Scientific American compiled the Top 10 List of Emerging Technologies for 2015. You can start here, but you are not limited to these technologies. You must choose an emerging industry, and will analyze the history of this technology and its industry, the trajectories of the technology, the key competitors, and the trends in the market. The end goal is to develop a comprehensive understanding of the industry, the competitive landscape, emerging trends to watch in the future, and an overall assessment as to the attractiveness of this industry. Your final deliverable for this project will be an in-class presentation, due April 26th. 1) What SIC/NAICS code does your industry fall under? 2) Describe your industry- a. Provide a brief history of your industry. (You may use a timeline in a separate appendix) b.  List and describe the characteristics of the products your industry offers in the marketplace. c. Who are the key competitors in the industry? d. What are the main differences between the products offered by key competitors? e. What strengths & weaknesses (capabilities, complementary resources, related intellectual property, etc.)...

Words: 430 - Pages: 2

Premium Essay

Service Marketing

...http://www.mysensex.comPESTLE « Pestle Summary: India | Main | Pestle summary: USA » 03/28/2009 Pestle Summary China Well, I guess this is where I get controversial, at least a bit. There are others who have predicted that China was in for a tough ride over the past few years, but they mostly got ignored, or were proven wrong by events. And, to a certain extent, if you cry doom long enough you'll always get proved right, given the laws of entropy. So this is a bit 'faux' controversy... This is the introductory note taking exercise for a Pestle analysis of China, drawn on conventional internet sources such as Wikipedia, the CIA World Factbook and Nationmaster. China is the most populous country in the world, with 1.34 billion people. It has the third largest GDP, with $4.84 trillion, behind Japan and the U.S. Like India, the currency and conditions make it useful to look at some statistics using Purchasing Power Parity, which bumps up China's GDP to $7.8 trillion, which would move it ahead of Japan. It also is the second in the world in annual military spending, although that needs a bit of context, as the world's number two spends about 15% of what the world number one (USA) spends. But with PPP, that looks like more money, and insofar as it is used to pay salaries, rather than buy Israeli rocket parts, PPP is valid in this context too. China is badly governed by the Communist Party, and in my five-year Pestle forecast I will be making the case that misgovernance will...

Words: 1059 - Pages: 5

Free Essay

Bsa/375

...McCauley, COO * Hugh McCauley, COO of Riordan has sent a service request to us. The service request SR-rm-022 stats that Riordan wants to make improvement on their current HR tools. They are currently using a variety of HR tools and would want’s us create one integrated application. To do this we will have to do a system analysis of their current system. An analysis will be made with recommendations to upgrade and consolidate their system. * The service request is basically a project statement. This is a document from the customer who clearly states what the project should deliver and outline the high-level work required for completing this project * (SR-rm-022). Riordan Manufacturing has 550 employees worldwide and has projected earnings of $46 million. It is a fortune 1000 enterprise with $1 billion in excess revenues. It is wholly owned by Riordon Industries and based in San Jose , California. * . We will use the joint application design (JAD) for our system analysis, this should help keep the analysis efforts to a minimum. Fact finding is at the core of system analysis. Interviewing of individuals who understand the current system and any known issues, including future activities needed. To do this observation of how data is handled and how this is used for their jobs. Through study of the documents, policies, and procedures in reference to the system. * Interviewing and gathering...

Words: 397 - Pages: 2

Free Essay

Hr Stratgey

...29th, 2013 Angela Lucente Planning For People Job analysis is an important process, any organization used to use it in order to collect information and data about required skills, level of education, work environment, responsibilities, and the duties to create a job description, recruiting plans, and performance development planning (Susan M. Heatfield, 2013). Once job analyses are updated as described, a summary of the results is normally prepared in writing in the form of a job description (Wayne F. Cascio, 2010). According to my reading chapter five about job analysis process. There are some topics I felt comfortable with, such as alternative perspectives on jobs. This topic add to my knowledge many information and explained how jobs are important to organizations, what is the highly unusual jobs that some organizations required it, and distinguish job analysis form job design (Wayne F. Cascio, 2010). On the other hand, I struggled with topic job requirements because there are many methods created in order to study job requirements and none of them alone is sufficient. Thus, it is essential to integrate this methods to obtain the results of the tasks and duties of a job (Wayne F. Cascio, 2010). It is not that easy to implement the methods of job analysis, such as job performance, observation, interview, critical incidents, and structured questionnaire, those are the most five common methods of job analysis and each one of those takes time and effort to achieve desirable...

Words: 321 - Pages: 2

Premium Essay

Job Analysis Examination

...------------------------------------------------- Running header: Job Analysis Methods ------------------------------------------------- Abstract Examination of different methods utilized to create a comprehensive job analysis, including advantages and disadvantages of all approaches. There are several methods that can be utilized to create a comprehensive job analysis. A job analysis provides a better understanding of the positions within an organization, which will allow the recruitment process to be more focused, consistent and thorough. The first method that can be employed to create an effective job analysis is the Critical Incidents Technique. This technique identifies circumstances that arise in a current position, what action was taken, and the consequences of the action, to identify the effective and ineffective behaviors in job performance. These critical situations are documented by interviewing former jobholders, supervisors, or by reviewing documents and logs from the job. Job duties are examined, and then critical incidents are identified to determine poor or good performance issues related to a specific job requirement. This technique is useful for covering job events that may not be covered in a general job description. Identifying atypical circumstances that may arise in a position can aid in finding a candidate that would be an ideal fit. Reviewing these critical incidents also enable the recruitment process to be shaped to include more pointed questions...

Words: 916 - Pages: 4

Premium Essay

Google Car

...to accomplish that soon, also technology is to expensive. Other companies building autonomous cars said that they are working on vehicles that will be able to safely make that switch. Volvo says that it expects to have its cars tested on city streets by 2020. The Google management team faced several questions. Should Google continue to invest in the technology behind self-driving cars? How could Google's core software-based and search business benefit from self-driving car technology? As large auto manufacturers began to invest in automotive technology themselves, could Google compete? Was this investment of time and resources worth it for Google? Environmental Scanning (external and internal analysis): PEST Analysis After reading the case study Google car I have used the PEST analysis model in which the following was concluded: 1. Political Factors: Government’s regulations on automobile transportation are one of the major aspects in Google's car that have legal barriers. Due to that most of the governments do not have specific laws for self-driving vehicle and there are no federal standards for autonomous cars special permission in all US states adjusted for road test. Laws need to be adapted to accidents liability for insurance purposes. 2. Economic Factors: Cost is a concern, due to the investment in technology required to be adapted to cars an estimated of $150,000 in equipment. The consumers are not willing to spend more than $3,000 for autonomous driving applications...

Words: 479 - Pages: 2

Free Essay

Vaan Lan

...implementation actions you recommend should be explicit and thoroughly explained. Occasionally, careful evaluation of implementation actions may show the strategy to be less favorable than you thought originally. A strategy is only as good as the firm's ability to implement it effectively. Therefore, effort to determine effective implementation is important. Process Issues You should ensure that your presentation (either oral or written) has logical consistency throughout. For example, if your presentation identifies one purpose, but your analysis focuses on issues that differ from the stated purpose, the logical inconsistency will be apparent. Likewise, your alternatives should flow from the configuration of strengths, weaknesses, opportunities, and threats you identified by the internal and external analyses. Thoroughness and clarity also are critical to an effective presentation. Thoroughness is represented by the comprehensiveness of the analysis and alternative generation. Furthermore, clarity in the results of the analyses, selection of the best alternative strategy, and design of implementation actions are important. For example, your statement of the strengths and weaknesses should flow clearly and logically from the internal analyses presented. Presentations (oral or...

Words: 305 - Pages: 2

Premium Essay

Pest Analysis Italy

...BLEND TWO COUNTRY ANALYSIS ITALY Task: You will carry out an analysis of Italy today in order to have a general idea of its current state of affairs. To do this you will visit several sites to gather the necessary information. This information should then be transferred in note-form onto the table below. You will then use these notes to give a short, informal presentation during the following class session. Procedure: You will use a well-known analytical tool: THE PEST ANALYSIS. Although this tool was originally created for the business environment, it is now used in many sectors to analyse organisations, projects and systems. STEP ONE: WHAT IS A PEST ANALYSIS 1. First you need to find out what a PEST analysis is: Go to http://www.rapidbi.com/created/the-PESTLE-analysis-tool.html#political Read quickly through the information and write short answers to the following questions: What sort of picture does a Pest analysis offer? Why is it important to take these factors into account? What are some common uses of the Pest? In what situation might you use a Pest in your own professional context? The Table below gives some of the indicators which may be relevant for each category. Can you think of any other factors to consider? Add them to the corresponding column. PEST ANALYSIS TEMPLATE Political / Legal Economic Social Technological - Government organisation / attitude - Economic growth (overall; by industry sector) - Income...

Words: 615 - Pages: 3

Premium Essay

Philosophy

...participated voluntarily in the study? * Was institutional review board approval obtained from the agency in which the study was conducted? Data Collection * Are the major variables (independent and dependent variables) identified and defined? What were these variables? * How were data collected in this study? * What rationale did the author provide for using this data collection method? * Identify the time period for data collection of the study. * Describe the sequence of data collection events for a participant. Data Management and Analysis * Describe the data management and analysis methods used in the study. * Did the author discuss how the rigor of the process was assured? For example, does the author describe maintaining a paper trail of critical decisions that were made during the analysis of the data? Was statistical software used to ensure accuracy of the analysis? * What measures were used to minimize the effects of researcher bias (their experiences and perspectives)? For example, did two researchers independently analyze the data and compare their analyses? Findings / Interpretation of Findings * What is the researcher’s interpretation of...

Words: 363 - Pages: 2

Free Essay

Ecn 400 Week 6 Macroeconomic Indices

...com/product/ecn-400-week-6-macroeconomic-indices/ Contact us at: SUPPORT@ACTIVITYMODE.COM ECN 400 WEEK 6 MACROECONOMIC INDICES ECN 400 Week 6 Critical Thinking: Macroeconomic Indices Critical Thinking: Macroeconomic Indices (70) Begin working on your Portfolio Project by researching and selecting an article for your analysis. Appropriate articles are those that: • Are no older than six months old • Contain at least three general economic principles • Contain at least three to five macroeconomic indices. • Submit an outline that provides information on your article and the three general economic principles and the three to five macroeconomic indices you will be discussing in your Project. ECN 400 WEEK 6 MACROECONOMIC INDICES To purchase this visit following link: http://www.activitymode.com/product/ecn-400-week-6-macroeconomic-indices/ Contact us at: SUPPORT@ACTIVITYMODE.COM ECN 400 WEEK 6 MACROECONOMIC INDICES ECN 400 Week 6 Critical Thinking: Macroeconomic Indices Critical Thinking: Macroeconomic Indices (70) Begin working on your Portfolio Project by researching and selecting an article for your analysis. Appropriate articles are those that: • Are no older than six months old • Contain at least three general economic principles • Contain at least three to five macroeconomic indices. • Submit an outline that provides information on your article and the three general economic principles and the three to five macroeconomic...

Words: 834 - Pages: 4

Premium Essay

Kenyan Problem

...[u06a1] Unit 6 Assignment 1 Systems Theory and Conflict Resolution Resources * Systems Theory and Conflict Resolution Scoring Guide. * APA (6th edition) Style and Formatting. * Webuwrite Academy Simulation. By successfully completing this assignment, you will demonstrate your proficiency in the following course competencies and assignment criteria: * Competency 5: Implement a strategy for reducing conflict. * Propose strategies for reducing conflict based on a systems analysis. * Competency 7: Communicate effectively in a variety of formats. * Communicate in a manner that respects the dignity, cultural and ethnic backgrounds, and individual uniqueness of others. For this assignment, you will analyze the conflicts at Webuwrite Academy using systems theory, as described by Wilmot and Hocker in Chapter 7. When people think of conflict, they often tend to think only about the actual conflict itself. They often fail tocontextualize that conflict within the norms and background of a larger organization or group. This type of contextualization is an important part of understanding a conflict more fully, and of better understanding how to resolve the conflict. Systems theory is a method of analyzing conflict that goes beyond looking at individual behavior and goals, and instead focuses on the patterns of interactions between individuals as a part of a whole organization. Systems theory also focuses on the roles that individuals play within organizations. For...

Words: 433 - Pages: 2

Premium Essay

P-Political Factors Affecting The Healthcare Environment

...PEST Analysis P- Political Factors affecting the healthcare environment Insurance mandates, such as the individual mandate, are an element in the political sphere that could have an impact on healthcare. The individual mandate requires that individuals or families have health insurance or pay a penalty. Although it has recently been repealed, it continues to affect the healthcare environment, as many will continue to be uninsured. E- Economic Factors affecting the healthcare environment Unemployment is an example of how economic factors affect the healthcare environment. If people are losing their jobs this means there will be a greater loss of health insurance coverage, which will affect the type of health services people receive. S- Sociocultural Factors Demographics, values, and beliefs of various consumer groups should be identified in a PEST analysis. Organizations should be knowledgeable about the community it serves to avoid violating community values. For example, the Hispanic population is a growing population and as of 2017, the percentage of Hispanics in the United States is 17.8 (census.gov). T- Technological Factors...

Words: 460 - Pages: 2