International Accounting - 4701 Words

Office hours: Thursday 4:30-5:30: as announced in class; and by appointment. (NOTE: I am typically in most weekdays, and appointments—face-to-face or telephone—are typically easy to arrange. I am also available by e-mail.) Required texts: †¢ Chapters 10 and 11 from Advanced Accounting, 11th edition Fischer, Taylor and Cheng. You can purchase these chapters as PDFs from: http://www.cengagebrain.com Here is some specific information about the book to help you find the chapters: Advanced Accounting,11th Edition (do not purchase chapters 10 and 11 from the 10th ed); Authors: P. Fischer, Wm. Tayler, R. Cheng; ISBN-13: 9780538480284 1152 Pages |  © 2012 †¢ Chapters 4 and 5 from International Accounting 3rd edition,†¦show more content†¦One point worth noting: I encourage you to form study groups. You can learn more, learn faster, and have more fun when you work together. HOWEVER, you will be expected to hand in your own work. Handing in a single paper with multiple names or near-identical copies of work is not acceptable. Class participation. Think of each class as an oral quiz, where you have 150 minutes to demonstrate your knowledge. You must be prepared for each class, to respond to questions about the assigned readings and problems. Obviously, regular attendance is essential for your grade since you will not be able to actively participate in classes that you do not attend. While it is only 15% of the total points, that amount can easily make a difference in your final grade. NOTE: To the extent possible, I keep track of the QUALITY of what you say rather than simply tracking the quantity of what you say. I am concerned with questions like: Does your comment contribute something new to the discussion? (as opposed to being something that can be summarized by â€Å"I agree with the previous comment†); Are you relating the current discussion to other classes that you have taken (accounting, finance, political science, OB†¦)?; Does your comment move the discussion along and create additional fruitful discussion? (A friendly suggestion: You will be more likely to be able to make really good comments if you are well prepared for class.) ALSO: Don’t be afraid to do research beyond theShow MoreRelatedInternational Accounting Standards1317 Words   |  6 PagesInternational Accounting Standards What is the International Accounting Standards Board? This paper will give a brief overview on the history of the International Accounting Standards, starting with the role of the IASC Foundation, the structure of the IASB and the number of accounting standards currently published. Next, it will explain the steps in creating an international accounting standard in accordance with due process and it will show the mailing address and phone number. Lastly, there willRead MoreInternational Accounting2762 Words   |  12 Pagesgood and labor transfer. (Aswathapa, 2010) EU Harmonizing efforts The European Union EU has worked to harmonize accounting standards within the EU by using two directives, which are the fourth Directive (1978) and the seventh Directive (1983) that were able to enforce laws. After applying the EU new accounting standards they decided in the year 1995 to transfer to international standards. Moreover, the transfer was done by following the IASC efforts. In the year 2000 the European Union requestedRead MoreInternational Accounting5411 Words   |  22 Pages08/10/2012 | AYB 227: International Accounting:Individual Assignment | Name: Chuan Yang - LiStudent no: n7592736Word count: 1461 | Executive summary i Introduction 1 Development factors and culture characteristics of country 1 * United Kingdom 1 * Germany 2 * Japan 2 Hofstede’s cultural dimensions 2 Accounting Practices predictions 3 Opacity Impacts on Business Investments 4 Limitations in Financial Reports, with respect to Ratios and Accounting Practices 4 ConclusionRead MoreThe International Accounting Standards Board1341 Words   |  6 PagesThe IASB Conceptual Framework is a framework developed by the International Accounting Standards Board (IASB). In a nutshell, what this framework does is to lay out the concepts needed for accurate preparation and presentation of financial statements to external users such as auditors, tax authorities, investors, regulatory authorities and so on. According to the IASB, the Conceptual Framework for Financial Reporting does the following; â€Å"†¦describes the objective of, and the concepts for, generalRead MoreInternational Accounting Standards ( Ias ) Essay1651 Words   |  7 PagesInternational Accounting Standards (IAS) in effect since 2002 and International Board (IASB) together, provides the conceptual framework of financial reporting in the UK, in effect as of 2005. They have been working together to meet International Financial Reporting Standards (IFRS) issued by International Finance Committee (IFC) which have been endorsed by the EU. IFRS uses a principles approach designed to provide flexibility, transparency and comparability allowing a robust system in providingRead MoreInternational Accounting Testbank2832 Words   |  12 PagesChapter 01 Introduction to International Accounting Multiple Choice Questions 1. Which of the following groups is a supranational organization? A) United Nations B) Organization for Economic Cooperation and Development C) International Federation of Accountants D) All of the above Answer: D Level: Easy LO: 1 2. Determination of net present value involves: A) forecasting future profits and cash flows. Read MoreThe International Accounting Standards Board Essay1660 Words   |  7 Pagesnew standard results in different accounting implications in the annual financial statements of Transnet. To evaluate the accounting implications of IFRS15 it must be compared with IAS 18. One major implication is the change from recognising revenue from services rendered by using the percentage of completion method that is stated in IAS 18. IFRS 15 recognises revenue either over-time or at a point in time. Introduction In May 2014, the International Accounting Standards Board (IASB) issued a newRead MoreAccounting Standard And International Accounting Standards Essay1500 Words   |  6 PagesAccounting standard has been introduced after the World War II where every country has its own proper accounting practices such as the United States Generally Accepted Accounting Principles (the US GAAP). As time flies, international trade and foreign direct investment has experience a period of rapid growth where the companies begin to expand their business in a larger scale. Frequent international mergers and acquisitions especially by American corporations to the European companies has createdRead MoreThe International Accounting Standards Board1573 Words   |  7 PagesAs the globalization of markets has become more prominent in recent years, many are wondering why a single set of accounting standards are not followed. After all, English may be the business language, but accounting is the language of busi ness. Accounting standards are essentially just rules that must be followed when reporting any accounting data on any of the company’s financial statements. The objective is to provide the user (creditor or investor) with relevant information of the company’s financialRead MoreThe International Accounting Standards Board1249 Words   |  5 Pageschallenged by disparate accounting standards between jurisdictions, preventing the free flow of capital worldwide. The mission of the International Accounting Standards Board (IASB) is to develop a single set of accounting standards, enabling capital to flow in international markets as easily as information spreads between people. This paper presents a brief history of international accounting standard setting and the IASB, considers arguments for and against international standards, analyzes problems