International Accounting Under IFRS

International Accounting.

International Accounting
International Accounting

IFRS; International Accounting

Compare current reporting practices between a company that reports under IFRS in the United States and a U.S. GAAP company that also files in the U.S.

I would like each group to find one company that files IFRS based financial statements with the SEC.

You are suggested the following search strategies:
  1. Searching the public press for any talk about filing IFRS financial in the U.S.
  2. Identify a handful of foreign companies who do business in the United States and see if they report to the SEC by going to www.SEC.gov and searching the company database for the company of interest.
  3. Download their 10-K filing and examine footnote 1 on accounting policies. I expect that footnote to identify what form of accounting method is used. (The audit opinion will likely also state the method.)

Based on the financial reports and other disclosures found at the SEC web-site or the web-sites of companies in the following industries, each assigned group should choose one of the IFRS companies listed and then find another company that files under U.S. GAAP in the same industry for review.

You may use Compact Disclosure in the Business Library or yahoo.com to find other companies in the same industry.

Groups Companies
  • Walmart / Tesco PLC
  • Merck/ GlaxoSmithKline
  • Motorola/Nokia
  • Hershey / Cad bury
  • Royal Dutch Shell / Exxon
  • Daimler AG / Ford
Required:

The companies’ reporting practices should be compared and contrasted paying specific attention to at least two areas where US GAAP and IFRS potentially differ for the two companies.

You may also want to observe interesting industry reporting practices in general (e.g., use of leases, importance of R&D, intangible assets, fair values, etc.)

Also, feel free to document or comment on any reporting practices that you feel are innovative and/or deficient.

Ideally, you should form some type of opinion about the relative reporting quality of the two companies in comparison to each other.

– The International Accounting Standard in the Government Sector

– The Islamic Accounting Standards in the Islamic Banks

– Any Case Study

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Non Monetary Transactions (NMT)

Non Monetary Transactions.

Non Monetary Transactions
Non Monetary Transactions

In reading this article on Non Monetary Transactions (NMT):

http://accounting-financial-tax.com/2012/04/what-are-non-monetary-transactions-how-are-they-accounted/

Do the following in 1 page or less:

Summarize the NMT process.

You are the Chief Accountant for Ford Motor, the CEO.

Mark Fields has asked you to prepare an opinion on the proposed NMT between Fords EU division and corporate relative to the transfer of an electric car design.

What do you tell the CEO?

Ratio Analysis of JP Morgan Chase

Ratio Analysis.

Ratio Analysis
Ratio Analysis
(1) LIQUIDITY:

FY 2016 FY 2015
Current Ratio:

Chosen Co. ____ ____
Competitor ____ ____

Quick Ratio:

Chosen Co. ____ ____
Competitor ____ ____

Comments On The Company’s Liquidity:

Be sure to include comments! The numbers are meaningless by themselves.

Comment on what you see. What story do the numbers tell?

(2) ASSET MANAGEMENT

FY 2016 FY 2015
Total Asset Turnover:

Chosen Co. ____ ____
Competitor ____ ____

Average Collection Period:

Chosen Co. ____ ____
Competitor ____ ____

Comments on the Company’s Asset Management:

(3) DEBT MANAGEMENT:

FY 2016 FY 2015
Total Debt to Total Assets:

Chosen Co. ____ ____
Competitor ____ ____

Times Interest Earned:

Chosen Co. ____ ____
Competitor ____ ____

Comments On The Company’s Debt Management:

(4) PROFITABILITY:

FY 2016 FY 2015
Net profit Margin:

Chosen Co. ____ ____
Competitor ____ ____

Return on Assets:

Chosen Co. ____ ____
Competitor ____ ____

Return on Equity:

Chosen Co. ____ ____
Competitor ____ ____

Modified Du Pont Equation, FY 2016:

Chosen Co. Competitor
Net Profit Margin ____ ____
Total Asset Turnover ____ ____
Equity Multiplier ____ ____

Comments On The Company’s Profitability:

(5) MARKET VALUE RATIOS:

FY 2016 FY 2015
PE Ratio:

Chosen Co. ____ ____
Competitor ____ ____

Market to Book Ratio:

Chosen Co. ____ ____
Competitor ____ ____

Comments On The Company’s Market Value Ratios:

(6) CONCLUSIONS AND RECOMMENDATIONS

Summarize your analysis.

Review your comments in the financial analysis section and provide your assessment of the overall status of the firm.

Include any recommendations you think are appropriate.

List any other recommendations you have for the firm in view of your analysis.

Accounting Majors; Homework Assignment

Accounting Majors.

Accounting Majors
Accounting Majors

Homework; Accounting Majors.
Utilize the Unit 1 Homework Exercise Working Document as a starting point.
E1-21;E1-23
E2-16,P2-30A
P2-34A E2-17, E2.22, P2-30A
Decision Case 1.1
Decision Case 2-1; P2-34A

Please complete the problems above and submit your completed work.

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http://myclasses.caluniversity.edu/mod/url/view.php?id=343145

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