Financial accounting theory

Assignment Help Financial Accounting
Reference no: EM13291095 , Length: 2500 Words

Financial accounting theory

Required in proper referencing thorough Harvard or APA

"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".

Based on the above statement, Students are required to do research and write an essay of 2500 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: EM13291095

Questions Cloud

Find the generator current and transmission line current : Consider two three-phase transformers, the first transformerhas a delta connection on its primary side and a wye connection onits secondary side; whereas, the second transformer has a wyeconnection on its primary side and a delta connection on its..
What the cost of equity for ajax using dividend valuation : The expected risk-free rate of interest is 2%, and the expected market premium is 5.5%. The company's beta is 1.2.
Explain what is the specific heat of liquid water : What is the specific heat of liquid water, written with correct units? Refer to Table 5.2 or Appendix B in your textbook, or your lecture notes.
Discuss shortcomings in the research methods used or in the : Discuss shortcomings in the research methods used or in the presentation of the results. Are there other questions that you would like to see answered but which were not addressed in this article?
Financial accounting theory : International Financial Reporting Standards are designed as a common global language for business affairs so that company accounts are understandable and comparable across international boundaries - outline the justifications and controversy of IF..
Calculate the capacitive reactive power of capacitor bank : A power factor correction capacitor bank, with negligible resistance, draws a current of 625 amperes whenconnected to its 480 VAC, 60 Hz source. Calculate the capacitive reactive power of the capacitor bank.
Distinguish between operating leases and financial leases : Distinguish between operating leases and financial leases. Would you be more likely to find an operating lease employed for a fleet of trucks or for a manufacturing plant.
Determine required series resistance r for zener diode : A student designs a zener shunt regulator to produce a regulatedoutput of 10 V using a zener diode specified to have a 10V drop ata test current of 25mA. Incremental resistance of the zener is 10ohm and minimum diode current =2mA.
Explain the heat change of the system : When the surroundings absorbs heat, is the heat change of the system (qsystem) positive or negative

Reviews

Write a Review

Financial Accounting Questions & Answers

  Calculate the firm tax on its operating earnings

Calculate the firm tax on its operating earnings only find the tax as well as the after tax amount attributable to the interest income from zig manufacturing bonds

  Evaluate the incremental effect on profit

Prepare an incremental analysis in good form to evaluate the incremental effect on profit of discontinuing the snail extraction tool line.

  What is the value of the ending inventory as determined

Inventory valuation methods allow management to select a method that best fits their business model. Given the following data, what is the value of the ending inventory as determined by the First in First out (FIFO) method?

  Determine companys predetermined overhead application rate

Finlon applies manufacturing overhead to production on the basis of direct-labor cost. (The budgeted direct-labor cost is the company's practical capacity, in terms of direct-labor hours, multiplied by the budgeted direct-labor rate.)

  Determine the estimated allowance for doubtful accounts

The Draber Company uses the allowance method based on the aging method to determine the estimated allowance for doubtful accounts- Given the above information, determine the estimated allowance for doubtful accounts at the end of the period.

  Prepare a bank reconciliation going from balance

Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance and Prepare the general journal entry or entries to correct the Cash account

  Give the journal entry to record issuance

Give the journal entry to record issuance of the bond and give the journal entry to record the conversion of the bonds assuming

  What is materiality

What is materiality? Why might the inventory loss concern management more than it does the auditors? Do you think the amount of inventory loss is material?

  Determine the earnings per share on common stock

Determine the earnings per share on common stock, assuming that the income before bond interest and income tax is (a) $10,000,000, (b) $12,000,000, and (c) $14,000,000.

  Determine cost recovery deduction

This is the only asset he purchased during the year. Barry did not elect to expense any of the asset under 179, nor did he elect straight-line cost recovery. Barry sold the asset on July 17, 2012. Determine cost recovery deduction for 2012.

  How should davis record sale of inventory costing

Davis Hardware Company uses a periodic inventory system. How should Davis record the sale of inventory costing $620 for $960 on account?

  Elucidate proactive application of cost measurement

Variance between budget projections and budget performance is inevitable. Elucidate whether or not a proactive application of cost measurement and corrective actions are a realistic approach to minimize variance.

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