| Papers [1-16] of 100 :: [Page 1 of 7] | | Go to page : 1 2 3 4 5 6 7 —> | Search results on "IASB INTERNATIONAL FINANCIAL REPORTING STANDARDS": |
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The Future of Financial Reporting, 2008.
This paper explores the development of a conceptual framework for financial reporting and accounting by the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB).
1,734 words (approx. 6.9 pages), 19 sources, MLA, AU$ 88.95
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Abstract
The paper explores if the proposed conceptual framework for financial reporting and accounting covers the main facets of the original framework of both the FASB and the IASB and whether the purpose of financial reporting is omitting a vital element. The paper further examines whether the decision-useful objective necessarily encompasses the stewardship objective. The paper concludes that it is necessary to have separate objectives related to stewardship and decision-usefulness.
Outline:
Introduction
Financial Reporting that is 'Decision-Usefulness'
Stewardship Objective
Should the Stewardship Objective be Included Separately?
From the Paper
"The Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) have decided to revise their conceptual frameworks for financial reporting and accounting. Ideally, the present framework of both boards will be broader and expansive so as to develop a conceptual framework, which both Boards can use as an outline for new and revised accounting standards. This amalgamation is very important since markets become more international in scope, there is a need for global accounting standards that are consistent irrespective of the geographical boundaries. Also, 'there was a need to provide direction and structure to financial accounting and reporting' (Penman 2006)."
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Measurement Bases for Financial Reporting, 2008.
An analysis of measurement bases and their effects on financial reporting.
3,507 words (approx. 14.0 pages), 21 sources, APA, AU$ 154.95
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Abstract
The paper relates that the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have decided to revise their conceptual frameworks for financial reporting and accounting. The paper notes that, ideally, the present framework of both boards will be broader and expansive so as to develop a conceptual framework, which both Boards can use as an outline for new and revised accounting standards. The paper explains that one key area that is affected is the basis of measurement and its effect on financial reporting. The paper then proceeds to evaluate the different ways that measurement is defined within the conceptual framework. The paper also analyzes the methodologies identified so that choices made in the future can be based on valid recommendations.
Outline:
Introduction
Measurement and Bases of Measurement
Criticisms
Objectives of Financial Reporting and the Bases Choice: Is there a Trade-Off
What Bases Should be Chosen?
Conclusion
From the Paper
"Measurement in financial reporting is therefore dependent on a lot of external factors to the organization; which affect the process of integrating it within the conceptual framework of the IASB/FASB. Bullen and Crook (2006) states that measurement will continue to be one of the most challenging aspects of the conceptual framework since neither bodies have a clear cut definition as to what are the necessary bases that should be used nor are there a set of refined guidelines for the use of any bases. The definitions of both bodies are vague, and as such the conceptual framework continues to produce a vague definition."
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Ethics In Financial Reporting, 2005.
A discussion regarding the ethics of financial reporting and Generally Accepted Accounting Principles.
1,125 words (approx. 4.5 pages), 2 sources, AU$ 69.95
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Abstract
This paper discusses ethical financial reporting and what organizations are involved in monitoring and regulating financial statements of public companies. This paper reports that in the United States, these rules are called Generally Accepted Accounting Principles (GAAP). Although they are not laws, the Securities and Exchange Commission requires public companies to follow them. The Financial Accounting Standards Board is the most important organization in setting Generally Accepted Accounting Principles. Although not part of GAAP, Statements of Financial Accounting Concepts provide the basis for Statements of Financial Accountant Standards, which are the most important GAAP-establishing publications.
From the Paper
"The framework for corporate financial management has changed significantly over the past few decades as more corporations move away from a checks and balances systems towards more of a juggling act. Recent ethical scandals including the Bre-X, Enron, and Worldcom debacles, has translated into increased scrutiny of corporate financial reporting. Some financial analysts argue that a company's ethical standards affects profitability, and those businesses that demonstrate unethical behaviour will suffer from decreased market share and profit potential, as well as increased government regulation. Increased competition between businesses has forced corporate finance managers to juggle more than one set of balance sheets depending on whether the reporting is going to the Internal Revenue Service (IRS) or shareholders."
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Impact of the Introduction of the Euro on Financial Reporting, 2002.
A paper which studies how the introduction of the Euro influenced financial reporting.
1,900 words (approx. 7.6 pages), 8 sources, APA, AU$ 95.95
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Abstract
After the introduction of the Euro to the financial world, changes took place across the financial world. This paper discusses the impact, changes in financial reports and the gain or loss due to new currency for Canada, United States and Portugal. The three countries are compared in the EU market as to accounting advantages and disadvantages of having the euro currency.
From the Paper
"Portugal is now in its 16th year as part of the European Union (EU). During the last decade Portugal has shown remarkable economic performance that resulted in Portugal's participation in the final stage of European Economic and Monetary Union (EMU) on January 1, 1999 (http://www.portugal.org/information/economic1/info_1a.html). Portugal has adopted the single currency, the euro, and its position as a mainstream European nation is thus consolidated. The government and the Bank of Portugal pursued consistent economic policies focused on European integration. Markets were completely liberalized and an extensive privatization program initiated."
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International Financial Reporting, 2005.
This paper explains that many factors, such as history, politics, differential currency types, ease of conversion and regulations of various international banking institutions, prevent full harmonization of international financial reporting.
3,445 words (approx. 13.8 pages), 3 sources, MLA, AU$ 153.95
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Abstract
This paper explains the history of the inter-relationship of political and economic changes that effect today's problem of harmonization of currency and reporting such as (1) competing economic policy objectives similar to today's problems with oil, (2) the Janus-faced nature of international capital flows and (3) the changing center of influence of the international system from the United Kingdom and toward the United States. The author points out that the new ISO engineering standards represent a model for standardizing accounting and reporting processes not only by solving the problems of harmonizing the accounting and reporting process but also by offering an open-ended approach, easily adaptable to even the smallest of enterprises. The paper stresses that this need for global standardization means that the mundane "bean-counters" of the past must be replace by today's global accountants trained in several disciplines.
Table of Contents
Thesis Statement
The Powerful Influence of History
The Gold Standard
The Rise and Dilemmas of Bimetallism
The Development of the International Monetary Systems between WWI and WW II
The Bretton Woods System and its Problems
The Harmonization of the British Pound, U.S. Dollar and the European Common Currency
The Future Outlook from an ISO Point of View
From the Paper
"Between the wars, the United States overtook Britain as the leading player in the commercial and the financial domains. However, America's foreign financial and commercial relations did not yet fit together in a way that produced a harmoniously working international system. Moreover, with even today's technological edge America is finding the attainment of harmonization a difficult task at best. Great Britain likewise struggles with several issues in this area. Hence, when postwar planners again contemplated the reconstruction of the international system, they sought a framework capable of accommodating these changed conditions. The solutions to the problems are not at all straightforward and thus the pronounced lack of harmonization of accounting and reporting."
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Fraud In Financial Reporting, 2002.
Discusses the increase of fraud in spite of regulations.
3,150 words (approx. 12.6 pages), 29 sources, AU$ 175.95
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Abstract
Discusses the increase of fraud in spite of government regulations. Contends that a lack of independent audit committees leads to the problem. Escalation of the benefits of management fraud. Reviews ten publicly traded firms that experienced financial reporting fraud in recent years. Concludes that audit committees be responsible to the board of directors.
From the Paper
"FINANCIAL REPORTING FRAUD AND AUDIT COMMITTEES
Introduction
Fraud in financial reporting is not a new phenomenon. Neither is a rising incidence of financial reporting fraud an unusual outcome in period of economic distress. What is somewhat surprising is that both the incidence and the severity of financial reporting fraud continues to increase in the face of efforts by the Securities and Exchange Commission (SEC), the Financial Accounting Standards Board (FASB), and other governmental and professional organizations to minimize the frequency and severity of such fraud (Anthony, Harrison, Linehan, & Palker, 1999).
Financial reporting fraud continues to surface in the face of important regulations and procedures implemented to minimize the ..."
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Financial Reporting, 2003.
A comparison on the financial positions of two companies.
1,610 words (approx. 6.4 pages), 2 sources, MLA, AU$ 87.95
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Abstract
This paper compares the financial positions of Equity Office Properties Trust and SL Green Realty Corporation. It discusses this from the perspective of SL Green as an acquisition for Equity. The paper analyzes financial statements, economic value of the assets of both companies, cash flow analysis, financial ration analysis and operating compatibility.
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Southwest Airlines Financial Report, 2006.
This paper offers an economic evaluation of Southwest Airlines.
675 words (approx. 2.7 pages), 0 sources, AU$ 41.95
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Abstract
The paper responds to a series of questions related to financial reports contained within a company's annual report. Specifically addressed are Southwest Airline's 2005 Annual Report and the characteristics of its income and balances sheet statements. Also, Southwest's accounting and accounting oversight practices are discussed as are its notes to the financial statements.
From the Paper
"Southwest's income statement is a useful document in underlining the overall performance of the company and provides key insight into the operational health of the company. While there are other key financial ratios that can and should be examined, the income statement provides important reference points for operational integrity. For example, Southwest's passenger, freight and other types of operating revenues all increased year on year from 2003 to 2005 moving from $5,937m to $7,584m respectively and, ideally, this increase in revenues should also come accompanied by an increase in profits (Southwest, 2005, p.48). An increase in revenues accompanied by a loss in profits would be indicative of poor operational management or an extraordinary increase in operational expenses related to market forces rather than management."
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Financial Reports, 2005.
An overview of the purpose and use of different types of financial statements.
1,787 words (approx. 7.1 pages), 2 sources, MLA, AU$ 90.95
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Abstract
This paper examines how all the information accountants gather about a company is used to prepare documents referred to as financial statements and how, although there is no consensus regarding which documents are financial statements and which aren't, there are several universally accepted papers of which the income statement and the balance sheet are excellent examples. It explores different examples and uses of these financial statement, such as the cash-flow statement and the statement of capital.
From the Paper
"The financial operations of a company have to be kept under strict observation. Investors need to know exactly what is the position of the company, so an objective opinion is required. This is where the auditors come in. Auditing may be defined as "a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events of an economic entity to ascertain the degree of correspondence between assertions and established criteria and communicating the results to users". Of course that auditing is an expensive operation, but the safety it brings makes it worth the effort. Auditing is mandatory for certain companies, especially when the interests of a large number of people are at stake."
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Financial News Report, 2002.
An examination of a news report about Tyco International.
1,150 words (approx. 4.6 pages), 4 sources, AU$ 69.95
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Abstract
This paper examined a news item carried by the Wall Street Journal Europe, relating to Tyco International, and its accounting irregularities. Although Tyco wants the general investment community to believe its accounting problems are over, there still remain unanswered questions.
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International Accounting Standards, 2005.
A discussion of the international movement towards common accounting standards for all countries and the United States' role.
1,611 words (approx. 6.4 pages), 5 sources, MLA, AU$ 82.95
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Abstract
The paper discusses the international movement towards common accounting standards for all countries, and how, as a major economic power, the United States has an important role to play in the matter. The paper further examines the standards that have been developed by the International Accounting Standards Board (IASB). The paper concludes with an analysis of America's current practices, focusing on the four Statements of Federal Financial Accounting Concepts abd addressing the main objectives behind federal financial reporting. It looks at the identification of the organization doing the reporting and presents a discussion of issues that are related to the preparation of management's discussion. The paper also presents an analysis of the financial statements.
Table of Contents:
Introduction
Analysis
Conclusion
End Notes
References
From the Paper
"The present system is to capitalize the asset as per international accounting standards. The expenses that are being talked about are under in process research and development. Apart from this FASB has decided that capitalization of IPR&D will only apply to business combinations. When assets are purchased, and they are not viewed as businesses under GAAP in US, would continue to have IPR&D as expenses."
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The Financial Accounting Standards Board (FASB), 2007.
This paper evaluates the conceptual framework developed by the Financial Accounting Standards Board (FASB).
1,225 words (approx. 4.9 pages), 5 sources, APA, AU$ 65.95
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Abstract
This paper explains that the objectives of the FASB's conceptual framework are to identify the goals and purposes of financial reporting and their underlying fundamentals; however, it is more than two decades old and has fallen behind the times especially in the area of currency and scope. The author points out that, despite the best attempts by the FASB to provide frameworks and standards to regulate accounting practices, unethical management always seems to discover loopholes to make their accounting statements say whatever they want them to say. The paper states that principle-based standards help management work with auditors to exercise professional judgment in determining appropriate accounting; nonetheless, rules-based accounting does more to promote consistency and adherence to guidelines.
Table of Contents:
The Conceptual Framework Developed by the FASB
The Role and Ethical Considerations
Principles-Based Accounting vs. Rules-Based Accounting
From the Paper
"Some believe the solution for preventing unethical accounting conduct is to regulate as many accounting translations as possible. While closing loopholes should certainly be an objective of standards setting bodies such as FASB, unethical people will always find a new and better way to behave unethically if their corporate culture allows or encourages unethical behavior or if people behaving unethically simply believe they will not be punished for their conduct. Increasingly, accountants need to be trained in ethics in addition to improving financial skills."
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Financial Accounting Standards Board, 2007.
A discussion of the Financial Accounting Standards Board (FASB) 128 and examples of its application.
1,571 words (approx. 6.3 pages), 4 sources, APA, AU$ 81.95
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Abstract
This paper discusses the purpose of the Financial Accounting Standards Board (FASB), which is to constantly monitor the condition of the financial accounting standards for their relevance to current market developments in order to foresee any probable problem areas and deliver secure functioning of companies, big and small investors and government as a whole. Specifically, the paper provides an explanation of FASB 128 and gives examples of its application.
Table of Contents:
Introduction
Explanation of FASB 128 and Examples of Application
From the Paper
"Thus, the financial accounting standard 128 requires the company to clearly state all the facts they include in the arriving at the earnings per share and diluted earnings per share ratio which is further on must be reported in the company income statement and thus reveal relevant information to the investors probable and those already holding the company stock. In order to avoid any misunderstanding on the actual company financial information as the number of financial derivatives has increased greatly during the recent past, the standard requires the derivatives such as options, warrants, contingently issuable shares or employee performance measures which can be convertible into common stock, to be accounted for as common stock at the most profitable price for the investors, or the market value for the conversion."
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Financial Accounting Standards, 1992.
An overview of the Financial Accounting Standards Board and the development of standards of accounting for research and development costs.
1,350 words (approx. 5.4 pages), 2 sources, AU$ 74.95
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From the Paper
"Background Review on the Development of Statement of Financial Accounting Standards No. 2: Accounting For Research and Development Costs
One of the first tasks undertaken by the Financial Accounting Standards Board (FASB) following its establishment in 1973 was to place ?on its technical agenda a project on ?Accounting for Research and Development and Similar Costs?? (Financial Accounting Standards Board, 1974, p. 9). The project was placed on the Board?s technical agenda in April 1973. The Board noted that, in 1972, total research and development expenditures in the United States approximated $30 billion, of which approximately $20 billion were made by business enterprises. The remaining research and development expenditures were made by government, research universities, and..."
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Statement of Financial Accounting Standards No 16, Prior Period Adjustments, 1993.
A look at its background, provisions, purpose, pros and cons.
900 words (approx. 3.6 pages), 3 sources, AU$ 49.95
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From the Paper
"This research examines Financial Accounting Standards Board (FASB) Statement of Financial Accounting Standards No. 16, Prior Period Adjustments. Of particular interest in this examination are the reasons prompting the development of Statement No. 16, the provisions of Statement No. 16, and the key issues addressed by the FASB in the development of Statement No. 16, including a consideration of arguments pro and con on the issues addressed.
In the mid-1970s, the American Institute of Certified Public Accountants (AICPA) Committee on SEC Regulations requested that the FASB consider the criteria for prior period adjustments, as those criteria were stated in APB Opinion No. 9, Reporting the Results of Operations, and provide further guidelines for the application of such criteria.1 APB Opinion No. 9 stated, among other things, that prior period adjustments were limited to the..."
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Financial Accounting Standards Board, 1997.
Examines its history, purpose, accomplishments, powers, procedures and publications. Looks at conflict with corporations, its leadership and future.
2,250 words (approx. 9.0 pages), 13 sources, AU$ 124.95
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From the Paper
"THE FINANCIAL ACCOUNTING STANDARDS BOARD
Introduction
This research examines the Financial Accounting Standards Board (FASB). The examination begins with a brief history of the FASB and a consideration of the purpose of the organization. Major accomplishments of the FASB are discussed, and the current debate surrounding the FASB are addressed.
Purpose and History of the FASB
Financial accounting is concerned with recording the actual financial activities of an organization. The purpose of financial accounting, thus, is to provide the financial information necessary for an organization to do its job and for an organization to be able to accurately report its performance to investors, creditors, and governmental agencies. Public confidence.."
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