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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Business Finance Management

Business Finance Management

Business Finance. Put the following income statement and balance sheet terms (general ledger accounts) in the proper order for properly prepared financial statements:

Business Finance
Business Finance

Taxes, interest, gross profit, selling, general and administrative expenses, sales, depreciation, net income, cost of goods sold, EBITDA.

Put the following balance sheet terms (general ledger accounts) in the appropriate category as either short-term assets, long-term assets, short-term liabilities, long-term liabilities, and/or owner’s equity for properly prepared financial statements:

  1. Cash.
  2.  Accounts payable.
  3.  Accruals.
  4. Property.
  5. Plant and equipment.
  6. Inventory.
  7. Accounts receivables.
  8. Paid in capital.
  9. Retained earnings.
  10. Notes payable.
  11. Mortgage.
  12. Accounts payable.

Business Finance – Management

Business
Business

Business. For this assignment, the student will identify and interview someone they know who is in a management role.

This allows the student to integrate the experience of real world managers with their own insights into planning and strategy.

The assignment also reinforces the importance of contingency planning.

Assignment Steps;

Interview someone you know who is in a management role.

This can be at your current place of employment or someone you know personally working in a managerial role.

Prepare a 1,050-word discussion of the interview:

  1. Discuss what you discovered about contingency planning.
  2. Discuss how creativity and critical thinking relate to contingency planning.
  3. Explain how you might integrate creativity into your own planning process.
  4. Discuss what you learned about creativity and its relationship to the decision-making process.
  5. Identify the key steps that might require a contingency plan.
    Format the assignment consistent with APA guidelines.

Operations Management – Business Finance

Operations Management
Operations Management

Operations Management. It’s time for a bit of practice with our focus and memory!

Take a few moments to watch the video and play along with the focus game.

Be sure to write down how well you did so you can describe it in the discussion.

Maintain Your Focus (Nat Geo – Brain Games)

In your discussion post, share how you did;

  1. Did you get most of the words correct or incorrect?
  2. Did you notice other details or did you miss them?
  3. What did you learn about your memory from this experience?

Operations Management. Take a few moments to watch the video and play along with the focus game.

Be sure to write down how well you did so you can describe it in the discussion.

Maintain Your Focus (Nat Geo – Brain Games)

In your discussion post, share how you did;

  1. Did you get most of the words correct or incorrect?
  2. Did you notice other details or did you miss them?
  3. What did you learn about your memory from this experience?
  4. Take a few moments to watch the video and play along with the focus game.

    Operations Management. Be sure to write down how well you did so you can describe it in the discussion.

    Maintain Your Focus (Nat Geo – Brain Games)

    In your discussion post, share how you did;

    1. Did you get most of the words correct or incorrect?
    2. Did you notice other details or did you miss them?
    3. What did you learn about your memory from this experience?

Take a few moments to watch the video and play along with the focus game.

Be sure to write down how well you did so you can describe it in the discussion.

Maintain Your Focus (Nat Geo – Brain Games)

In your discussion post, share how you did;

  1. Did you get most of the words correct or incorrect?
  2. Did you notice other details or did you miss them?
  3. What did you learn about your memory from this experience?