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Accounting does not exist in isolation and changes in counting roles and enforcement impact business organization on a global basis
Please assist in answering these questions and provide factual opinions with references.
1. How widespread are IFRS? What will happen to US GAAP?
2. How has SOX (Sarbanes-Oxley) affected business organizations and the accounting profession? https://www.soxlaw.com/
3. What is the difference between a role-based and principle-based system?
4. Discuss Global Reporting initiatives, its purposes, the standard setting process and the use of its reporting system.
Here are some links that will assist you:https://www.fasb.org/intl/convergence_iasb.shtmlhttps://www.globalreporting.org/Pages/default.aspxhttps://www.globalreporting.org/Pages/default.aspx
After the events of September 11, we were without our securities markets for few days. Though, it was a difficult condition, the markets opened in a few days and we managed.
Write Company has a maximum capacity of 200,000 units per year. Variable manufacturing costs are $12 per unit. Fixed overhead is $600,000 per year. Variable selling and administrative costs are $5 per unit, and fixed selling and administrative cos..
Pacific has the following account balances as of Feb 1. Western pays $2,020,000 in cash. An additional $20,000 is paid in direct combination costs. For each of the following accounts, determine what balance will be included in a Feb 1 consolidatio..
During the current year, Hugo sells equipment for $150,000, which it placed in service in 2009. The equipment cost $175,000, and $55,000 of depreciation deductions was allowed. The results of the sale are
Buhl Corp. sponsors a defined benefit plan for its employees. On January 1, 2008, the following balances relate to his plan: Using the data above, compute pension expense for Buhl Corp. for the year 2008 by preparing a pension workheet that shows ..
In 2010, Bailey Corporation discovered that equipment purchased on January 1, 2008, for $50,000 was expensed at that time. The equipment should have been depreciated over 5 years, with no salvage value. The effective tax rate is 30%.
Compute the balance in the Accumulated Depreciation account at the end of 2013 using the straight-line method.
Since the Sarbanes-Oxley Act of 2002, fraud from lack of internal controls has gone down. At the same time, collusion between employees and among third parties has increased.
Lata Inc., produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 4.5 ounces of aluminum per can.
Williams Inc reports total net income of $130,000 during 2012. This includes $10,000 of income from 5.5% Orange County municipal bonds. Thus the Corporation's taxable income is equal to $120,000.
Prepare cash budget, cash balance and minimum cash balance-Using the information above, prepare a cash budget as of December 31, 2009.
What is the highest price that you would be willing to pay for an insurance policy that fully insures you in the event that your house burns down?
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