Common global language for business affairs

Assignment Help Financial Accounting
Reference no: EM13874152 , Length:

"International Financial Reporting Standards (IFRS) are designed as a common global language for business affairs so that company accounts are understandable and comparable across international boundaries.

They are a consequence of growing international shareholding and trade and are particularly important for companies that have dealings in several countries. They are progressively replacing the many different national accounting standards.

The rules to be followed by accountants to maintain books of accounts which is comparable, understandable, reliable and relevant as per the users internal or external".

Required: Based on the above statement, Students are required to do research and write an essay of 1500 words (with proper references) which demonstrates their understanding about the Topic, outline the justifications and controversy of IFRSs.

Journal Articles, Newspapers, Magazines and Websites will be valuable sources of information for this assignment

Verified Expert

Reference no: EM13874152

What is the nature of the recognized gain and loss

Hank inherited tangible personal property in 2012. The property was depreciated by the deceased (Hank’s father), and Hank will also depreciate it. At the date of the deceased’

Most effective means of stimulating the economy

The most effective means of stimulating the economy during a recession is for the federal government to a. increase spending and hold taxes b. hold government spending and dec

What the gross margin percent for the department

If the Gross margin dollars for the men's department at a local department store are $875,197 and the department net sales are $ 1,592,630 what the gross margin percent for th

Nonliquidating distribution

Melissa's adjusted basis in her Statesboro Partnership interest was $32,000 when she received a nonliquidating distribution of $13,000 cash and a property with an AB to States

Net cash flow provided by operating activities

Last year Burch Corporation's cash account decreased by $34,000. Net cash provided by investing activities was $8,900. Net cash used in financing activities was $31,500. On th

Preparation of multi-step income statement

Preparation of Multi-step Income statement - Using the information provided, prepare a multi-step income statement for the year ended December 31, 2009 in proper format incl

Variable production costs

A company produces a single product. Variable production costs are $14.0 per unit and variable selling and administrative expenses are $5.0 per unit. Fixed manufacturing overh

Accounts receivable and allowance for doubtful accounts

If $2,000 is determined to be specifically uncollectible, what effect will the write-off of the specific receivable have on: accounts receivable and allowance for doubtful acc


Write a Review

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd