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Question: The IASB XBRL Team develops and maintains the XBRL, the IFRS Taxonomy is used around the world to smooth the electronic use and exchange of financial data prepared using the conceptual framework of the IFRSs. (Click here to learn more about the IFRS.) In June 15, 2009, the Security and Exchange Commission (SEC) directed the use of eXtensible Business Reporting Language (XBRL) for large and accelerated filers. IFRS teamed up with XBRL to standardize financial reporting in an effort to encourage transparency, enhance comparability of financial information, and improve the quality of the reporting process.
For this Discussion Board assignment, consider the move by the SEC in 2009 and the current authorization for multinational companies to use IFRS to prepare and present their financial statements; and the XBRL Taxonomy developed by IASB.
• What impact will this have on the accounting information systems already in place in US?
• How will this enhance or impact the preparation and presentation of financial statements both under IFRS and US GAAP?
Prepare forecast for the soft drink industry using Seasonal Model method. Prepare market share forecast using Linear Regression method.
Assuming a perpetual inventory system is used, use the following information to calculate cost of goods sold on an average-cost basis
eg works for Freedom Airlines in the accounts payable department. How much must she include in her compensation this year?
The accountant for Huckleberry Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:
Division Corporation owns 85% of Regional operations Company. What is the adjustment to cost of goods sold in the 2006 worksheet elimination
Paid $23 for indirect manufacturing labor. Prepare a schedule of cost of goods manufactured and sold, an income statement, and a balance sheet for 2011
Parkette, Inc., acquired a 60 percent interest in Skybox Company several years ago. What is the consolidated cost of goods sold in 2015?
During the year 2010, the corporation earned $600,000 after deducting all expenses. The tax rate was 30%., Instructions:- Compute the proper earnings per share for 2010.
What structure would be the best structure for the US? Be sure to support your answer with the advantages of the method you select and the disadvantages of the other tax rates structure.
During March 2013, JZ Inc. completed the following transactions: 3/31/13 - Accrued interest on the note signed 3/1/13. Prepare the journal entries
On 30 June 2015, Frank disposed of the following assets: Calculate Frank's net capital gain or net capital loss for the income year ending 30 June 2015.
Added to the gross investment in the lease and amortized over the term of the lease as a yield adjustment.
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