Premium Essay


In: Business and Management

Submitted By Conno123
Words 705
Pages 3
Comparing IFRS to GAAP Paper
Ashley Connors

Sharon Powers

Comparing IFRS to GAAP Paper The comparison between the IFRS and GAAP and how they differ from one another. The accounting industry has many guidelines that need to be followed by accountants, analysts, and organizations. The internal Accounting Standards Board issued standards (IFRS) that have been adopted by the United States and several countries out of the U.S. In what ways does the format of a statement of financial or position under IFRS often differ from a balance sheet presented under GAAP? The format of a statement of finical or position under IFRS differ a balance sheet presented under GAAP in the following ways. IFRS does not require a certain order or classification of accounts on the statement of finical position. Companies are recommended to report assists in reverse order of liquidity. Making sure the users of finical statements have a clear understanding of the company’s structure is important. An example of the order of accounts on the statement of finical position is: * Long Term Assets * Current Assets * Shareholder Equality * Long Term Liability * Current Liabilities
GAAP requires that all accounts are ranked on their measureable liquidly. Cash assets will be ordered first and shareholder equity will be ordered last. * Current Assets * Long Term Assets * Current Liabilities * Long Term Liabilities * Shareholder Equity

What terms commonly used under IFRS are synonymous with common stock and balance sheet? Statements of finical balance sheet is synonymous with balance sheet under the IFRS. They both are formatted differently but both show comparison of assets, liabilities, and equity. Share capital ordinary is synonymous with common stock. They both mean the same referring to the value of equity that has been...

Similar Documents

Free Essay

Smc Paper

...HISTORY Established in 1890, La Fabrica de Cerveza de San Miguel, Southeast Asia’s first brewery produced and bottled what would eventually become one of the bestselling beers in the region. Within the span of a generation, San Miguel Beer would become an icon among beer drinkers. By 1914, San Miguel Beer was being exported from its headquarters in Manila to Shanghai, Hong Kong and Guam. A pioneer in Asia, San Miguel established a brewery in Hong Kong in 1948, the first local brewer in the crown colony. | | Today, San Miguel Beer–the Company’s flagship product–is one of the largest selling beers and among the top 10 beer brands in the world. While brewing beer is the company’s heritage, San Miguel subsequently branched out into the food and packaging businesses. From the original cerveza that first rolled off the bottling line, San Miguel Corporation has since expanded its portfolio to produce a wide range of popular beverage, food and packaging products which have–for over a century–catered to generations of consumers’ ever changing tastes. It has also diversified into heavy industries including power and other utilities, mining, energy, tollways and airports. The Company’s manufacturing operations extend beyond the Philippines to Hong Kong, China, Indonesia, Vietnam, Thailand and Malaysia. Its products are exported to major markets around the world. Continuing a tradition of product quality, San Miguel is capitalizing on its unique strengths in brands and...

Words: 4148 - Pages: 17

Premium Essay

Example Of Ipacial Inspection

...Objective • Objective data begins through the use of taking the patient’s vitals, blood pressure. • Physical examination, on the anterior chest should be carried out through the use of IPPA (inspection, palpation, percussion and auscultation) (Jarvis, 2014, p. 450) Inspection: Begin inspection through a general physical examination, where the patient is not yet undressed. Access the patient’s level of consciousness, through the awareness of their external environment. Access patient for their facial expressions which should be accordingly set to their behavior. This aspect should be addressed as patients who tend to purse their lips may be at a risk for COPD (Jarvis, 2014, p. 452). Examine the respiration rate for the patient which should...

Words: 545 - Pages: 3

Premium Essay

Early Education and Practice Assignment

...Comprehensive profile of history and development of the ECCE sector in Ireland. In 1969 the first state run preschool was opened in Rutland street in Dublin. Its aims were for children who were from disadvantaged areas. The department of education worked with an organization called the Van Leer foundation. This organization promotes the early education of children in economically disadvantaged areas. They both set up the pre-school in Rutland street. They were known as early pre-schools. 40 pre-schools had opened nationally. Their aims were to combat the effects of economic and social achievements. These aims were achieved by giving a good start to a child's education. (Flood and Hardy,2015) In 1973 the bar for marriage was lifted which allowed woman to return to work, it was lifted as there was nobody to look after children in families. This then created a need for child minders and childcare services. The preschool education was mainly in the private sector for children with the need of specific intervention and with special needs. The ECEC needs for babies, young children and their families were all met by the community, private enterprises and voluntary. (Flood, E. and Hardy,2013) According to early childhood Ireland, 2015 in 1992 Ireland ratified the UN convention on the rights of the child. The convention stated that a 'child' as a person is below the age of 18, unless a particular countries law set the legal age below the age of 18 for the age of adulthood. The......

Words: 2212 - Pages: 9

Free Essay


...* A series of steps that lead to accomplishing some goal or purpose. * A systematic and organizes method for providing care to clients. * Provides individualized, holistic, effective and efficient client care. * Clients of all ages and in any care setting. * Characteristics of Nursing Process * Problem solving method - client focused * Systematic- sequential steps * Goal oriented- outcome criteria * Dynamic-always changing, flexible * Utilizes critical thinking processes * ● Interpersonal – promotes nurse-client relationship● * Cyclical – continuous and promotes improvement of nursing care * Systematic problem - solving approach toward giving individualized nursing care. STEPS: * Assessment * Nursing Diagnosis * Planning and outcome identification * Intervention * Evaluation * ASSESSING PATIENT’S HEALTH STATUS Assessment * A systematic collection of subjective and objective data with the goal of making a clinical nursing judgment about an individual, family or community. * 1st phase of nursing process which involves systematic data collection , organization and validation, interpretation, and documentation of data. * Purpose of Nursing Assessment * To establish the client-nurse relationship. * To obtain information about the client’s health, including physiologic, socio-cultural, cognitive, developmental & spiritual aspects. * To identify actual &......

Words: 5902 - Pages: 24

Premium Essay

Bbb Resume for Ba

...PADMA ARYAL 646-701-4780 PROFILE | | Dynamic Business Analyst with over 6 years of professional experience in Software Development Lifecycle (SDLC) and business reengineering process, offering extensive experience in healthcare domain. Areas of expertise include HIPAA compliance ANSI X12 4010 to 5010 and ICD 9 to ICD 10, EDI transactions and Claims Adjudication process. Experience with FACETS and NASCO configuration, coordination of benefits (COB), Medicare and Medicaid programs; strong interpersonal communication, writing, presentation and collaboration skills. QUALIFICATIONS SUMMARY | | * Proven track record of delivering cost-effective, high performance technology solutions to meet the constantly changing business needs. * Demonstrated experience in gathering requirements and developing detailed functional specifications through JAD sessions, interviews, observation, and on site meetings with SME, business users & development teams. * Adept at writing business requirement documents (BRD), functional requirement documents (FRD), system requirement specifications (SRS), system design specifications (SDS) and other project related documents. * Expertise in conducting gap analysis, SWOT analysis, risk analysis, root-cause analysis and change management assessment. * Proficient in business process reengineering and Software Development Life Cycle (SDLC), including analysis, design, development, testing,...

Words: 2820 - Pages: 12

Free Essay

Care Plan

...NIAGARA COUNTY COMMUNITY COLLEGE THEORETICAL CARE PLAN DATE: NUR STUDENT NAME: MEDICAL DIAGNOSIS: Acute Abdominal Pain SURGICAL PROCEDURE & DATE: Hartman Procedure PATIENT'S INITIALS: AGE: 57/M ROOM #: ERICKSON'S DEVELOPMENTAL STAGE: VII generativity vs stagnation |A. Brief Description of Pathophysiology Including Signs & Symptoms: Hartman procedure-The Hartman procedure was developed by Dr. Henry Albert Hartmann in 1921 and involves the surgical resection of the | |rectosigmoid colon, closure of the rectum, and creation of a colostomy. It was initially created to improve the mortality rate of patients who had colonic adenocarcinomas but is now indicated for | |several pathologies including complicated and severe diverticulitis, rectosigmoid cancer, and in cases where a colon resection is needed but a primary anastomosis cannot be safely done. There are few | |contraindications to the procedure and is often the procedure of choice when other complicated procedures cannot be performed. Patients with hypotension, renal failure, diabetes, malnutrition, immune | |compromise, and ascites can have unfavorable......

Words: 2513 - Pages: 11

Premium Essay

The Report of Hong Kong

...Executive Summary Hong Kong is believed the world best location in the world to startup a foreign business. Due to Hong Kong provide a clean business-friendly environment, a stable government fiscal and the advantage of its location. In addition, with the sustainable growth of the GDP and the simple tax system with its low tax rate which made it an attractive place for investment. However, the highly polluted environment and the over-heated real estate would be a big concern for Hong Kong government. In addition, the dependence on land sales revenue should have to reduce if Hong Kong government wants to achieve a long- term fiscal sustainability. The table below clarifies that different level and different type of risk shown from this evaluation and analysis report, reveals that overall risk are in the low level of risk, except for the real-estate and environment risk. Therefore, Australian investor should expected the business operate in Hong Kong would be fairly and equally treated. However, due to the culture difference, that although Hong Kong is a mixed in high and low context culture compare to China and Japan, the minor culture barrier still remain. | |Type of risk |Level of risk | |Factors |- Political system |Low | | |- Legal......

Words: 4064 - Pages: 17

Premium Essay

Health Assessment Family

...COLLABORATIVE BACHELOR OF SCIENCE IN NURSING PROGRAM (University of Windsor, Lambton College, St. Clair College – Windsor & Thames) Health Assessment NRS 63-166 Fall 2011 Site: St Clair College, Thames Campus Teaching Faculty Linda O’Halloran Phone: 519-354-9714 Ext. 3233 E-mail: Office Hours: Monday’s 1100 – 1200, Tuesday’s 1000 - 1600 or by appointment Course Location Room 118 Course Times: Monday’s 1200 – 1400 – lecture Labs: weekly- either Monday or Tuesday as per your schedule Lab Teaching Instructor Maureen Eyres Andrea Reddam Vanessa Schinkel ©Collaborative BScN Program 2010 ALL RIGHTS RESERVED INTRODUCTION TO COLLABORATIVE BScN PROGRAM Mission Statement As partners, the Faculty of Nursing at the University of Windsor with St. Clair College (Windsor and Thames Campuses) and Lambton College (Sarnia) undertake the shared commitment to excellence in the preparation of Bachelor of Science in Nursing (BScN) candidates who embody our core values and the best elements of the art and science of nursing, education, leadership, research, and practice in their professional journeys. Vision EXCELLENCE in nursing education, practice, and research. Core......

Words: 4870 - Pages: 20

Free Essay

The Impact of School-Based Mentoring on Youths with Different Relational Profiles

...Developmental Psychology 2011, Vol. 47, No. 2, 450 – 462 © 2010 American Psychological Association 0012-1649/10/$12.00 DOI: 10.1037/a0021379 The Impact of School-Based Mentoring on Youths With Different Relational Profiles Sarah E. O. Schwartz, Jean E. Rhodes, and Christian S. Chan University of Massachusetts Boston Carla Herrera Public/Private Ventures, Philadelphia, Pennsylvania Associations between youths’ relationship profiles and mentoring outcomes were explored in the context of a national, randomized study of 1,139 youths (54% female) in geographically diverse Big Brothers Big Sisters school-based mentoring programs. The sample included youths in Grades 4 –9 from diverse racial and ethnic backgrounds, the majority of whom were receiving free or reduced-price lunch. Latent profile analysis, a person-oriented approach, was used to identify 3 distinct relational profiles. Mentoring was found to have differential effects depending on youths’ preintervention approach to relationships. In particular, youths who, at baseline, had satisfactory, but not particularly strong, relationships benefited more from mentoring than did youths with profiles characterized by either strongly positive or negative relationships. Implications for research and practice are discussed. Keywords: youth mentoring, parent relationships, teacher relationships, latent profile analysis Youth mentoring programs such as Big Brothers Big Sisters (BBBS) pair youths with volunteers who are...

Words: 12031 - Pages: 49

Free Essay

Russian Foreign Policy in Central Asia Since 2001: Assessing the Successes and Failures

...Russian Foreign Policy in Central Asia since 2013: Assessing the successes and failures Generally it is assumed that Russian foreign policy in Central Asia has been characterized by “neo-imperialism”. Yet this is statement is only partially true considering the fact that Moscow’s policies within its “sphere of influence” have not be static, and have been characterized by sweeping modifications. Since the breakup of Soviet Union, Russian policy in Central Asia has gone through drastic transformations and its influence in the region has varied over time. At present, Russian authority in Central Asia is weakening, yet the Kremlin continues to utilize number of political, institutional and economic strategies to prolong its presence there. Multilateral as well as Bilateral arrangements, and economic and energy leverages combined with cultural instructions are widely implemented in order to maintain Russian influence in Central Asia. Considering the fact that states in the region most importantly though not solely Kazakhstan, have begun to search for diversification and partnership with other great powers, they have gained a certain degree of independence from Moscow. Besides, in recent years China has emerged in Central Asia as an important rival to Russia in terms of influence, and has already established multiple agreements and investments with all of the states in the region. The degree of independence that Central Asian states have managed to gain due to their conviction to......

Words: 7007 - Pages: 29

Free Essay

Business En Ethiek

...BUSINESS EN ETHIEK Hoofdstuk 1: bedrijfsethiek in het spanningsveld tussen persoonlijke en institutionele verantwoordelijkheid.............................. 4 Inleiding: algemene beschouwingen over bedrijfsethiek..................................................... 4 1. 1 Bedrijfsethiek vanuit het standpunt van de ethische ondernemer.............................. 4 1.1.1 Bedrijfsethiek als ‘science des moeurs’: wetenschappelijke studie van het feitelijk moreel gedrag ................................................................................................... 5 1.1.2 Bedrijfsethiek als normatieve ethiek ............................................................... 5 1.2 De ethische onderneming ....................................................................................... 9 1.2.1 Het statuut van de onderneming.................................................................... 10 Een sociologische kijk: van organisatie naar instituut................................ 10 De dierbare organisatie......................................................................................... 10 Institutionalisering als routine............................................................................... 10 Internationalisering als interne waardecreatie ....................................................... 11 Een economische kijk op de onderneming................................................. 11 Het ondernemingsbegrip verruimd......

Words: 12394 - Pages: 50

Premium Essay

Chinese Economy

...RESEARCH PAPER 06/36 19 JUNE 2006 A Political and Economic Introduction to China “If the 20th century ended in 1989, the 21st began in 1978” Martin Jacques, The Guardian, 25 May 2006 China’s political and economic rise and what it means for the world is now a central preoccupation of analysts and policy-makers. Public awareness of China is likely to increase as the 2008 Olympics in Beijing draw near. This Research Paper is intended to act as a resource that Members of Parliament and their staff can draw upon when engaging with China’s remarkable transformation. Part I provides key facts and figures about China. Parts II and III review recent developments and future prospects by addressing four key questions. Is political authoritarianism sustainable? Can China’s development be peaceful? What are the main domestic economic challenges facing China? What is China’s impact on the world economy? Part IV summarises key aspects of UK and EU relations with China. The Paper ends with a select bibliography of key sources. The Research Paper is intended to act as a platform for a series of Library Standard Notes that will address in more depth specific issues about China that there is space here only to discuss briefly. Jon Lunn, Maria Lalic, Ben Smith and Claire Taylor INTERNATIONAL AFFAIRS AND DEFENCE SECTION Ed Beale, Ed Potton, Ian Townsend and Dominic Webb ECONOMIC POLICY AND STATISTICS SECTION HOUSE OF COMMONS LIBRARY Recent Library Research Papers include: List of......

Words: 40320 - Pages: 162

Free Essay


...Oğuz Atay Tehlikeli Oyunlar Bütün Eserleri/2 İSTANBUL TEHLİKELİ OYUNLAR Oğuz Atay İletişim Yayınları / 27 1. Baskı: Sinan Yayınları, İst. 1973 2. Baskı: İletişim Yayınları, İst. 1984 ÖNSÖZ Ey Sevgili Okur, Şu elinde tuttuğun Tehlikeli Oyunlar'ı okumak üzere olduğun için seni ne kadar kıskandığımı açıklamakla başlamak istiyorum bir solukta yazıp bitirmek istediğim bu önsöze. Niçin mi kıskanıyorum seni? Heyecan ve serüven dolu bir yolculuğa benzeyen bu okuma uğraşıyla ilk kez karşı karşıya olduğun için elbet. Bu önsözü bir solukta yazıp bitirmek isteyişime gelince, belki bunun nedenini sen de kestirebilirsin. Oğuz Atay «önsözlerden hiç mi hiç hoşlanmazdı. O kendine özgü inceliğiyle bir güzel alaya alırdı her türlü önsözü. Ama bu kitabın XIV. Bölümünde de belirtildiği gibi, «Ülkemiz büyük bir oyun yeridir. Her sabah uyanınca, biraz isteksiz de olsak, hepimiz sahnenin bir yerinde, bizi çevreleyen büyük ve uzak dünyanın sevimli bir benzerini kurmak için toplanırız. Küçük topluluklar olarak, birbirimizden bağımsız davranarak ve birbirimizi seyrederek günlük oyunlarımıza başlarız. Ben, Hikmet IV. zamanında —yani Hikmet I. olduğum sıralarda— bu oyunu ciddiye almış ve bütün oyunları heyecanla seyretmiştim. Sonunda, kendi oyunumu, bütün bu oyunların dışında ve gerçek olarak yaşamağa karar verdim. İnsanlarımız, aynı piyesi yıllardır aynı biçimde oynamanın yorgunluğu ve gerçeğe bir türlü, benzetememenin bezginliği içindeyken ben, bizlere bugüne kadar hiç yararı dokunmamış olan aklın......

Words: 30522 - Pages: 123