International Financial Reporting Standards (IFRS) MBA 691: Managerial Accounting Professor: Prepared by: April 19, 2009 Bibliography: • Ernst & Young, “U.S. GAAP vs. IFRS: The basics”, January 2009. • Securities & Exchange Commission, “Roadmap for the Potential Use of Financial Statements Prepared in Accordance with International Financial Reporting Standards by U.S. Issuers”, www.sec.gov/spotlight/ifrsroadmap.htm (Release No. 33-8982;
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2 Both the IFRS ( International Financial Reporting Standards ) and the GAAP ( Generally Accepted Accounting Principles ) are a set of accounting rules that companies either can or must follow when preparing their financial statements. Set by policy boards, the United States enforces the use of GAAP as the set of rules of processes and standards that its companies must use for reporting and recording of their financial statements. At the same, other parts of the words use the IFRS
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Accounting policy of Forex transactions. Compare the policy with the relevant accounting standard (AS and IAS) Observe the relevant items in the IS/CFS/BS and give your comments Observe the translations gains or losses if any The consolidated revenue for Infosys in FY 2010 is Rs. 22,742 cr with a Year on Year growth of 4.8%. As per IFRS, the annual revenues stood at US $1,313 million, with a Year on Year growth of 2.5%. Sensitivity of INR against USD For every 1% change in INR against
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introduction on managements responsibility for financial reporting and managements report on internal control. These statements are an introduction to the report and set the tone for the annual report. In this section Kroger states their firm belief in operating ethically and identifies the group that audits their financial statements as PricewaterhouseCoopers, LLP. Selected Financial Information/Stockholder information The next section contains selected financial information to give stockholders an
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MINISTRY OF EDUCATION AND SCIENCE OF UKRAINE KYIV NATIONAL ECONOMIC UNIVERSITY named after Vadym Hetman The individual task Made by: student of 5th course, spec.8508/1, Group 11, FEF I. Levchenko Checked by: Nataliia Buratchuk Kyiv – 2014 CONTENTS Mandatory task #1 Mandatory task #2 LIST OF LAWS AND REGULATIONS AND REFERENCES APPICATIONS Mandatory task #1 Lactalis Group Lactalis is a multi-national dairy products corporation, owned by the Besnier family and
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and where will the next Annual General Meeting take place? 21.09.2012 – Struer Statsgymasium A8 A9 Review the Presentation of the Group and Its Business in the Annual Report. What does it say about: A9.1 At the end of the financial year, Bang & Olufsen employed 2,106 people (Note 3 states: 1393 Denmark and 639 abroad, equals 2032???). A9.2 Company’s products are currently sold in more than 70 countries across the world. A9.3 Business-to-consumer (B2C) business and Business-to-business
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AC 31611DE AC 316 (M) 2013 Page 1 of 4 UNIVERSITY OF SWAZILAND FACULTY OF COMMERCE DEPARTMENT OF ACCOUNTING MAIN EXAMINATION PAPER MAY 2013 DEGREE! DIPLOMA: BACHELOR COMMERCE OF COMMERCE NIP! DIPLOMA IN YEAR OF STUDY B. COM III (Fff)! DIPLOMA IN COMMERCE IV (IDE) TITLE OF PAPER PRINCIPLES OF AUDITING COURSE CODE AC316! IDE AC316 (M) MAY 2013 TOTAL MARKS 100 MARKS TIME ALLOWED THREE (3) HOURS INSTRUCTIONS 1 There are four (4) questions, answer all. Begin the solution
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what are the financial disclosure requirements in Regulation S-X? There is also a reference to XBRL formatted reports, discuss the XBRL format and advantages of those reports. Under Regulation S-X, when an SEC registrant consummates a significant business acquisition, the registrant may be required to file up to three years of the acquired business’s pre-acquisition audited annual financial statements and unaudited interim financial statements. If required, the financial statements are typically
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The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union (EU). The accounting policies applied by the group also comply with IFRS as issued by the International Accounting Standards Board (IASB). This means that we are required to make estimates and assumptions. We believe that, of the company's significant accounting policies (see note 2 - Significant accounting policies to our Consolidated Financial
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types of companies which may be formed under the Corporations Act 2001 4. According to the Corporations Act 2001, a small proprietary company is one which satisfies at least two of the following tests: it must have consolidated revenue of less than $25 million, consolidated gross assets of less than $12.5
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