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

Previous Q& A

  Express purpose of running ads against candidates

Should we as a group of students be allowed to form a small corporation with the express purpose of running ads against candidates? And, if so, shouldn't that same rule apply to major corporations? Or should nobody be allowed to do this? Would Citize..

  Define a trust and a power of attorney

Define a Trust and a Power of Attorney

  What phasing plan do you propose

Create dilemma zone graphs for 65 mph and 55 mph speeds and with the distances shown in Figure 1. Analyze the dilemma zone problem and take into account that Y cannot exceed 5 seconds and that AR cannot exceed 2 seconds.

  A person in favor of affirmative action plans

What is a good argument for a person In favor of affirmative action plans in the workplace, including premises and a reasonable conclusion that follows the premises.  the specific topic is discrimination and affirmative action in the workplace

  Calculate the relative humidity of the exit flow

Liquid water enters at state 3: 10?C, at the rate of 400 kg per hour. A single air vapor flow exits the unit at state 4: 40?C. Calculate the relative humidity of the exit flow and the rate of heat transfer to the unit.

  How do you think the group dynamic would change

Think of a social group you are a part of, such as a family, business, or student organization. How do you think the group dynamic would change

  The top management of company

The top management of your company, a manufacturer and marketer of smart phones, has decided to pursue international expansion opportunities in Eastern Europe. To ensure success, management's goal is to enter into countries with a high level of globa..

  Calculate the net income for the period and the balance

Based on the following data, calculate the net income for the period and the balance in the account for Nuno Texeira, Capital after the closing entry has been posted.

  Problem regarding the compression process

An air-standard Diesel cycle has a compression ratio of 18.2. Air is at 80°F and 14.7 psia at the beginning of the compression process and at 3000 R at the end of the heat addition process. Accounting for the variation of specific heats with tempe..

  Read the section on stress management

Read the section on 'Stress Management' in your Selling Today textbook (starting on page 362). Then answer the following questions. In what way is each of the four moderators of stress mentioned in the text important to people in the sales field? Whi..

Reviews

Write a Review

 

Similar Q& A

  Prepare adjusting journal entries

Prepare the journal entry(ies) to record the issuance of zero interest bearing notes and warrants for the cash consideration that was received.

  My-best weight co offers personal weight reduction

my-best weight co. offers personal weight reduction consulting services to individuals. after all the accounts have

  Do you consider that fair value accounting caused the

do you consider that fair value accounting caused the financial crisis? i want to set it out in sections analysis

  Shareholders of financing project out of retained earnings

Axon Industries needs to raise $9.5M (or $9,500,000)for a new investment project. If the firm issues one-year debt, it may have to pay an interest rate of 8%, although Axon's managers believe that 6% would be a fair rate given the level of risk. What..

  Find the company''s debt ratio

The company is financed entirely with debt and common equity. Find the company's debt ratio

  Consideration recent high profile incidents of fraud

Internal controls have been a critical component for an organization in assuring that the financial information provided to users is properly presented and free of misstatement. In addition, it assures that the proper steps to negate and detect fraud..

  Calculating the approximate amounts for the current years

calculating the approximate amounts for the current years balances in the form of a balance sheet and income statement

  Create an analysis that shows whether or not

Per unit selling price for Product B is $75 and for Product C is $50. Create an analysis that shows whether or not the 20,000 units of Product A should be processed further.

  Prepare trading and profit and loss account

Prepare Trading and Profit and Loss Account for the year ended on Mar 31, 2009 and a Balance Sheet on that date after considering the Depreciate land and building

  Return on investment is calculated by dividing

Return on investment is calculated by dividing

  Debt with detachable stock warrants

Respond to the following. Submit journal entries in a table in MS Word and written segments in the same Word document. Do not submit two separate documents, as only one document can be accepted. Explain the underlying rationale for the differences de..

  Journal entries for fair value and equity methods

On June 15, Nadal declared and paid a cash dividend of $37,000. On December 31, Nadal reported a net income of $93,500 for the year.

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