Can you summarize this for me please! Dont tell me to email you too.pdf
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Can you summarize this for me please! Don't tell me to email you too pay, I have chegg for a reason. Distinguish between generally accepted accounting principles for public and private colleges and universities. For most of the 20th century, the majority of institutions in the higher education industry followed a single set of accou reporting standards. This guidance was described in the AICPA Audit Guide Audits of Colleges and Universities and incl by the American Institute of Certified Public Accountants (AICPA) in cooperation with committees of the National As and University Business Officers (NACUBO) and task forces of groups related to the U.S. Department of Education. Since 1973, the FASB has had jurisdiction over accounting and financial reporting standards for private sector commer profit entities. In 1984, the GASB was given jurisdiction over accounting and financial reporting standards for public co universities. Jurisdiction for private and for-profit colleges and universities was retained by the FASB. From 1984 until 1 public and private colleges and universities was not significantly different. In 1993, the FASB changed the reporting mo for-profit colleges and universities, standardizing the way all nongovernmental not-for-profit entities report to the public, report more like businesses and less like governments. An important presumption was that decision makers would find useful, even though comparability between public and private colleges and universities would be made more difficult. 3 One of the most significant changes in the reporting model was the elimination of fund reporting. While external financ private colleges and universities no longer provide fund information, colleges and universities may continue to use fund internal purposes. For these institutions, a worksheet can be used to convert fund accounting information to institutionnecessary for the basic financial statements. Fund information also may be included as supplementary information in th The most commonly used funds are unrestricted current funds, restricted current funds, plant funds, loan funds, endow and life-income funds, and agency funds. Additional information concerning funds can be found in the AICPA Audit an Guide Not-for-Profit Entities. Generally accepted accounting principles (GAAP) for private and for-profit colleges and universities are found in the F Information provided in the AICPA Audit and Accounting Guide Not-for-Profit Entities and information provided by NA guidance for private and for-profit colleges and universities but are not considered GAAP unless incorporated into the c After much due process, the GASB changed the public colleges and universities reporting model in 1999. Under the mo 1999, public colleges and universities use the same reporting model as special purpose governments and possibly enterp omponent units of another government entity (see Chapters 3-). As a result of GASB's actions, comparability between public and riv.
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(a) The American Institute of Certified Accountants. (AICPA)(b) Th.pdf
(a) The American Institute of Certified Accountants. (AICPA)
(b) This Statement establishes accounting and financial reporting standards for public colleges
and universities within the financial reporting guidelines of GASB Statement No. 34, Basic
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the use of the assets received is limited by donor-imposed restrictions. For example, fees from
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Lastly, discuss the financial statements that must be presented by a.pdf
Lastly, discuss the financial statements that must be presented by a government university that
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Solution
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In the United States, the IRS requires that all 501c3 organizations file a tax return of sorts. The form nonprofit organizations are required to fill out is called a 990, and as public organizations, these forms are available to the public. Since 1999, organizations that file 990s have been required to provide copies to anyone who requests. Unfortunately, some nonprofits weren’t aware of this, and when asked, they sometimes refused to disclose what they perceived to be private information (although it is NOT).
To ensure that the information is available, the IRS makes information from 990s available through two outlets.
· Guidestar: www.guidestar.org
· National Center for Charitable Statistics: http://nccsdataweb.urban.org/FAQ/index.php?category=31
Guidestar is the place to look if you want a scanned copy of the complete tax return for a single organization. NCCS is a national repository for compiled data on the nonprofit sector in the U.S., but the datasets do not include all of the information from the 990s. While Guidestar makes scanned copies of individual tax returns available, NCCS makes the data from 990s available in a database format. In other words, if I were interested in contributing money to the World Wildlife Fund and wanted to look at their financial information, I’d probably go to Guidestar. However, if I wanted to conduct an analysis of all nonprofit environmental organizations, I’d go to NCCS.
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One technique used to assess an organization’s financial management is ratio analysis, which focuses on mathematical comparisons between or among accounts on a set of financial statements. While an organization’s size must still be taken into account, financial ratios allow a rough comparison of both large and small organizations. For example, looking at the expenses for Marist and Harvard isn’t particularly useful. However, looking at the ratio of program expenses to total expenses allows us to determine how much of each organization’s budget is used for administrative expenses versus mission critical programs. Ratios also represent benchmarks that organizations can use internally to analyze themselves over multiple years. Fortunately for us, IRS form 990 represents a quick-and-dirty set of financial statements for nonprofit organizations in the U.S.
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Efficiency: Efficiency ra.
briefly compare the IASB and FASB in regards to the convergence proc.pdf
briefly compare the IASB and FASB in regards to the convergence process. Give your opinion
on the reasons why a single set of accounting principles would be beneficial to corporations.
Explain your rationale.
Solution
WHY IS IT IMPORTANT TO HAVE MORE COMPARABLE GLOBAL ACCOUNTING
STANDARDS? HOW DOES THAT EFFORT FIT WITH THE FASB’S MISSION?
The first priority of the Financial Accounting Standards Board (FASB) is to improve financial
reporting for the benefit of investors and other users of financial information in U.S. capital
markets. We do that by striving to set the highest-quality standards, which collectively are
known as Generally Accepted Accounting Principles (GAAP). By highest quality, we mean
standards that provide users of financial statements with information that is clear, useful, and
relevant to their needs, while considering whether the expected benefits of that information
justify the costs of providing and using it.
The FASB believes that seeking more comparable global accounting standards—improving the
quality of accounting standards used around the world while reducing differences among those
standards—is consistent with its core mission. Investors, companies, auditors, and other
participants in the U.S. financial reporting system benefit from the increased comparability that
can result from the closer alignment of standards used internationally. More comparable
standards have the potential to reduce costs for both users and preparers of financial statements
and make worldwide capital markets more efficient. The Securities and Exchange Commission
(SEC) expects the FASB to consider, in developing standards, the extent to which international
comparability is necessary or appropriate in the public interest and for the protection of
investors.
HOW DOES THE FASB SEEK GREATER COMPARABILITY?
As we conclude the bilateral convergence program begun in 2002 by the FASB and the
International Accounting Standards Board (IASB), the FASB has implemented a three-part
strategy for seeking greater comparability in accounting standards internationally:
Developing High Quality GAAP Standards
The FASB continually strives to meet the needs of investors and other users of GAAP-based
financial reports, both within and outside the United States, by improving the quality of GAAP.
The FASB believes that the high-quality standards it develops will continue to influence the
shape and future direction of international standards, as they have for more than 40 years. By
creating high-quality standards through a best-in-class standard-setting process, the FASB serves
as a reference point and benchmark for others. In other words, we will continue to lead by setting
an example of excellence.
As it undertakes standard-setting projects, the FASB carefully evaluates whether U.S. financial
reporting would be improved by implementing approaches consistent with particular IFRS
standards. This also would enhance international comparability for the benefit of investor.
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• Compare the similarities and differences between the for-profit, not-for-profit, and government financial environments.
Dankwambo transition to ipsas and their impact on transparency, a case study ...
The document summarizes Nigeria's transition to adopting International Public Sector Accounting Standards (IPSAS). It discusses Nigeria conducting a gap analysis between its existing accounting standards and IPSAS requirements. Several gaps were identified, including issues around the legal framework, accounting for external assistance, consolidation of controlled entities, and timeliness of financial reporting. Nigeria developed a work program to address the gaps through actions like consolidating controlled entity cash flows and improving timeliness of financial statement submission. Successful adoption of IPSAS requires conditions like a sound cash-based accounting system, political support, technical capacity, and automated information systems.
• Determine what you believe to be the major obstacles to the conver.pdf
• Determine what you believe to be the major obstacles to the convergence process. Recommend
two (2) strategies that the IASB could use in order to improve the convergence process overall.
Justify your response.
Solution
WHY IS IT IMPORTANT TO HAVE MORE COMPARABLE GLOBAL ACCOUNTING
STANDARDS? HOW DOES THAT EFFORT FIT WITH THE FASB’S MISSION?
The first priority of the Financial Accounting Standards Board (FASB) is to improve financial
reporting for the benefit of investors and other users of financial information in U.S. capital
markets. We do that by striving to set the highest-quality standards, which collectively are
known as Generally Accepted Accounting Principles (GAAP). By highest quality, we mean
standards that provide users of financial statements with information that is clear, useful, and
relevant to their needs, while considering whether the expected benefits of that information
justify the costs of providing and using it.
The FASB believes that seeking more comparable global accounting standards—improving the
quality of accounting standards used around the world while reducing differences among those
standards—is consistent with its core mission. Investors, companies, auditors, and other
participants in the U.S. financial reporting system benefit from the increased comparability that
can result from the closer alignment of standards used internationally. More comparable
standards have the potential to reduce costs for both users and preparers of financial statements
and make worldwide capital markets more efficient. The Securities and Exchange Commission
(SEC) expects the FASB to consider, in developing standards, the extent to which international
comparability is necessary or appropriate in the public interest and for the protection of
investors.
HOW DOES THE FASB SEEK GREATER COMPARABILITY?
As we conclude the bilateral convergence program begun in 2002 by the FASB and the
International Accounting Standards Board (IASB), the FASB has implemented a three-part
strategy for seeking greater comparability in accounting standards internationally:
Developing High Quality GAAP Standards
The FASB continually strives to meet the needs of investors and other users of GAAP-based
financial reports, both within and outside the United States, by improving the quality of GAAP.
The FASB believes that the high-quality standards it develops will continue to influence the
shape and future direction of international standards, as they have for more than 40 years. By
creating high-quality standards through a best-in-class standard-setting process, the FASB serves
as a reference point and benchmark for others. In other words, we will continue to lead by setting
an example of excellence.
As it undertakes standard-setting projects, the FASB carefully evaluates whether U.S. financial
reporting would be improved by implementing approaches consistent with particular IFRS
standards. This also would enhance international comparability for the benefit of inves.
Annual Report Project .docx
Annual Report Project
Nancy A. Herring, PhD, CPA
COPYRIGHT PAGE
Cover page image ©2010 PhotoDisc/Getty Images
Copyright © 2010 by John Wiley & Sons, Inc.
All rights reserved.
No part of this publication may be reproduced, stored in a retrieval system or transmitted
in any form or by any means, electronic, mechanical, photocopying, recording, scanning
or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States
Copyright Act, without either the prior written permission of the Publisher, or authorization through
payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive,
Danvers, MA 01923, website www.copyright.com. Requests to the Publisher for permission should be
addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030-
5774, (201)748-6011, fax (201)748-6008, website http://www.wiley.com/go/permissions.
To order books or for customer service, please call 1(800)-CALL-WILEY (225-5945).
Printed in the United States of America.
ISBN 978-0-470-87479-0
Annual Report Project | 1
Annual Report Project
To the Student
The Annual Report Project (ARP) provides you the opportunity to analyze a corporate annual
report. You will obtain the annual report of a Fortune 500 company and answer questions regard-
ing the application of concepts studied in your financial accounting course.
The Annual Report Project:
Will increase your interest in financial accounting by allowing you to personally
choose the annual report you will review
Provides hands-on exposure to financial statements of real-world companies
Emphasizes the importance of the notes to the financial statements
Provides an opportunity to examine the application of procedures and methods
discussed in your accounting textbook
Encourages you to work with spreadsheets
The Annual Report Project consists of twelve assignments and is designed to be a useful supple-
ment both for undergraduate financial accounting courses and for introductory financial account-
ing at the M.B.A. level. The following is a list of the topics covered in each Annual Report Pro-
ject assignment:
ARP 1 Obtaining the Annual Report
ARP 2 Company Information
ARP 3 Overview of the Annual Report
ARP 4 The Balance Sheet
ARP 5 The Income Statement
ARP 6 Current Assets
ARP 7 Long-lived Assets
ARP 8 Liabilities
ARP 9 Stockholders’ Equity
ARP 10 Statement of Cash Flow
ARP 11 International Financial Reporting Standards
ARP 12 Overall Evaluation
2 | Annual Report Project
ORGANIZATION OF EACH ASSIGNMENT
Beginning with Assignment 4, each assignment consists of three parts:
THE BASICS requires you to find information in the annual report and may require
the calculation of some financial statement ratios.
FURTHER ANALYSIS often includes calculating and interpreting financial
statem.
International Public Sector Accounting Standards and Financial Reporting in N...
IOSR Journal of Economics and Finance (IOSR-JEF) discourages theoretical articles that are limited to axiomatics or that discuss minor variations of familiar models. Similarly, IOSR-JEF has little interest in empirical papers that do not explain the model's theoretical foundations or that exhausts themselves in applying a new or established technique (such as cointegration) to another data set without providing very good reasons why this research is important.
International accounting: Comparative accounting the americas and asia
The document discusses and compares the accounting systems and standards of 5 countries: the US, Mexico, Japan, China, and India. It covers topics such as the regulatory bodies that set standards, enforcement mechanisms, required financial reporting, and accounting measurements for items like business combinations, inventory, fixed assets, and research/development costs. Overall, the accounting in these countries has been influenced by their political and economic ties, with the US having significant influence on Mexico and India originally adopting British standards.
UWS 2016 Economic Impact Report PDF
The document is a report on the 2016 economic impact of University of Western States. It found that UWS had a total gross output of $60,076,485, total GDP of $36,061,151, and supported 792 total jobs in the region. Additionally, it was noted that UWS provides approximately 26,000 pro-bono clinic visits annually valued at $2,968,789 and that over half of UWS alumni live in Oregon or Washington.
Report on-international public-sector accounting standards (ipsas)
In the current “global revolution in government accounting,” International Public-Sector Accounting Standards (IPSAS) are proposed for adoption by governments around the world. After describing the nature of IPSAS, the paper discusses conceptual issues concerning system capability and internal accountability, conceptual framework, emulation of business standards, accrual basis of accounting and consolidated financial statements. The institutional issues regarding the representation on the IPSAS board and the sole oversight by the International Federation of Accountants (IFAC) are also analyzes. Setting standards is a first step on the long road of fundamentally reforming government accounting practices around the world.
Hawaii health connector 2014 annual report
The summary provides an overview of the 2014 annual report of the Hawaii Health Connector. It discusses challenges faced in the initial launch in 2013 that persisted through 2014 open enrollment. Enrollment did not meet expectations and operational issues were the focus of 2014. However, improvements were made to processes and technology. The Connector was able to preserve Hawaii's Prepaid Health Care Act of 1974 and integrate it with the Affordable Care Act requirements. Three economic models are presented projecting enrollment numbers, revenues, expenses and surplus/deficit for the years 2015-2024 under a base, low and high case. The base case projects the Connector becoming self-sustaining by 2022. The report examines the potential economic benefits to Hawaii
NFP InformationASU 2016-14.pdfNot-for-Profit Entities (.docx
NFP Information/ASU 2016-14.pdf
Not-for-Profit Entities (Topic 958)
No. 2016-14
August 2016
Presentation of Financial Statements of
Not-for-Profit Entities
An Amendment of the FASB Accounting Standards Codification®
The FASB Accounting Standards Codification® is the source of authoritative
generally accepted accounting principles (GAAP) recognized by the FASB to be
applied by nongovernmental entities. An Accounting Standards Update is not
authoritative; rather, it is a document that communicates how the Accounting
Standards Codification is being amended. It also provides other information to help
a user of GAAP understand how and why GAAP is changing and when the
changes will be effective.
For additional copies of this Accounting Standards Update and information on
applicable prices and discount rates contact:
Order Department
Financial Accounting Standards Board
401 Merritt 7
PO Box 5116
Norwalk, CT 06856-5116
Please ask for our Product Code No. ASU2016-14.
FINANCIAL ACCOUNTING SERIES (ISSN 0885-9051) is published monthly
with the exception of January, August, and October by the Financial Accounting
Foundation, 401 Merritt 7, PO Box 5116, Norwalk, CT 06856-5116. Periodicals
postage paid at Norwalk, CT and at additional mailing offices. The full subscription
rate is $255 per year. POSTMASTER: Send address changes to Financial
Accounting Standards Board, 401 Merritt 7, PO Box 5116, Norwalk, CT 06856-
5116. | No. 438
Copyright © 2016 by Financial Accounting Foundation. All rights reserved.
Content copyrighted by Financial Accounting Foundation may not be
reproduced, stored in a retrieval system, or transmitted, in any form or by any
means, electronic, mechanical, photocopying, recording, or otherwise, without
the prior written permission of the Financial Accounting Foundation. Financial
Accounting Foundation claims no copyright in any portion hereof that
constitutes a work of the United States Government.
An Amendment of the FASB Accounting Standards Codification®
No. 2016-14
August 2016
Not-for-Profit Entities (Topic 958)
Presentation of Financial Statements of
Not-for-Profit Entities
Accounting Standards Update
Financial Accounting Standards Board
Accounting Standards Update 2016-14
Not-for-Profit Entities (Topic 958)
Presentation of Financial Statements of Not-for-Profit
Entities
August 2016
CONTENTS
Page
Numbers
Summary ........................................................................................................... 1–6
Amendments to the FASB Accounting Standards Codification® ................... 7–233
Background Information and Basis for Conclusions .................................. 234–263
Amendments to the XBRL Taxonomy ............................................................... 264
1
Summary
Why Is the FASB Issuing This Accounting Standards
Update (Update)?
The FASB added a pr ...
World Accounting Summit 2009
The document discusses the adoption of International Public Sector Accounting Standards (IPSAS) in government financial reporting. It describes how the increased role of governments in banking and fiscal policy has led to calls for greater transparency and accountability in the public sector. IPSAS are presented as standards designed to increase comparability and transparency by bringing public sector accounting practices more in line with commercial standards like IFRS. The document outlines some of the key IPSAS on issues like service concessions and social benefits reporting. It also discusses challenges in implementing IPSAS and lessons learned from countries that have transformed their reporting to align with IPSAS.
Can anyone explain this step by step Step 1 FetchUsing the hy.pdf
Can anyone explain this step by step
Step 1 Fetch
Using the hypothetical machine of Figure 3.4 and the given memory view, draw the content of
the CPU register at each CPU Cycle, i.e. the Program Counter (PC), Accumulator (AC) and
Instruction Register (IR) at each step. Then find the final memory content..
Can someone explain the output of this pseudocode code to meAlso .pdf
Can someone explain the output of this pseudocode code to me?
Also S(n) is set_x() and P() is print_x()
a. what will the program print if the language uses static scoping b. if the language uses dynamic
scoping, what will the program shallow binding? c. if the language uses dynamic scoping, what
will the program binding?.
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How the new ASU will impact your organization by Christopher Niwinski
The proposed ASU titled "Presentation of Financial Statements of Not-for-Profit Entities," touches on many areas of NFP financial reporting. Christopher J. Niwinski, Director in our Advisory Services Practice, explores the ramifications of the impact for endowment funds in this new paper.
How the new asu will impact your organization by christopher niwinski
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In the United States, the IRS requires that all 501c3 organizations file a tax return of sorts. The form nonprofit organizations are required to fill out is called a 990, and as public organizations, these forms are available to the public. Since 1999, organizations that file 990s have been required to provide copies to anyone who requests. Unfortunately, some nonprofits weren’t aware of this, and when asked, they sometimes refused to disclose what they perceived to be private information (although it is NOT).
To ensure that the information is available, the IRS makes information from 990s available through two outlets.
· Guidestar: www.guidestar.org
· National Center for Charitable Statistics: http://nccsdataweb.urban.org/FAQ/index.php?category=31
Guidestar is the place to look if you want a scanned copy of the complete tax return for a single organization. NCCS is a national repository for compiled data on the nonprofit sector in the U.S., but the datasets do not include all of the information from the 990s. While Guidestar makes scanned copies of individual tax returns available, NCCS makes the data from 990s available in a database format. In other words, if I were interested in contributing money to the World Wildlife Fund and wanted to look at their financial information, I’d probably go to Guidestar. However, if I wanted to conduct an analysis of all nonprofit environmental organizations, I’d go to NCCS.
While Guidestar and NCSS are great sources for data, they do not help in evaluating the financial status of an organization. A good online source of evaluating nonprofit organizations is CharityNavigator.org. What makes charity navigator particularly interesting is its use of financial ratios and rating system. The financial ratios for each of these factors is calculated from financial data on each organization’s 990.
Individual Paper 3: Financial Analysis
One technique used to assess an organization’s financial management is ratio analysis, which focuses on mathematical comparisons between or among accounts on a set of financial statements. While an organization’s size must still be taken into account, financial ratios allow a rough comparison of both large and small organizations. For example, looking at the expenses for Marist and Harvard isn’t particularly useful. However, looking at the ratio of program expenses to total expenses allows us to determine how much of each organization’s budget is used for administrative expenses versus mission critical programs. Ratios also represent benchmarks that organizations can use internally to analyze themselves over multiple years. Fortunately for us, IRS form 990 represents a quick-and-dirty set of financial statements for nonprofit organizations in the U.S.
There are many types of financial ratios for evaluating nonprofit organizations. For this assignment we will examine four types:
Efficiency: Efficiency ra.
briefly compare the IASB and FASB in regards to the convergence proc.pdf
briefly compare the IASB and FASB in regards to the convergence process. Give your opinion
on the reasons why a single set of accounting principles would be beneficial to corporations.
Explain your rationale.
Solution
WHY IS IT IMPORTANT TO HAVE MORE COMPARABLE GLOBAL ACCOUNTING
STANDARDS? HOW DOES THAT EFFORT FIT WITH THE FASB’S MISSION?
The first priority of the Financial Accounting Standards Board (FASB) is to improve financial
reporting for the benefit of investors and other users of financial information in U.S. capital
markets. We do that by striving to set the highest-quality standards, which collectively are
known as Generally Accepted Accounting Principles (GAAP). By highest quality, we mean
standards that provide users of financial statements with information that is clear, useful, and
relevant to their needs, while considering whether the expected benefits of that information
justify the costs of providing and using it.
The FASB believes that seeking more comparable global accounting standards—improving the
quality of accounting standards used around the world while reducing differences among those
standards—is consistent with its core mission. Investors, companies, auditors, and other
participants in the U.S. financial reporting system benefit from the increased comparability that
can result from the closer alignment of standards used internationally. More comparable
standards have the potential to reduce costs for both users and preparers of financial statements
and make worldwide capital markets more efficient. The Securities and Exchange Commission
(SEC) expects the FASB to consider, in developing standards, the extent to which international
comparability is necessary or appropriate in the public interest and for the protection of
investors.
HOW DOES THE FASB SEEK GREATER COMPARABILITY?
As we conclude the bilateral convergence program begun in 2002 by the FASB and the
International Accounting Standards Board (IASB), the FASB has implemented a three-part
strategy for seeking greater comparability in accounting standards internationally:
Developing High Quality GAAP Standards
The FASB continually strives to meet the needs of investors and other users of GAAP-based
financial reports, both within and outside the United States, by improving the quality of GAAP.
The FASB believes that the high-quality standards it develops will continue to influence the
shape and future direction of international standards, as they have for more than 40 years. By
creating high-quality standards through a best-in-class standard-setting process, the FASB serves
as a reference point and benchmark for others. In other words, we will continue to lead by setting
an example of excellence.
As it undertakes standard-setting projects, the FASB carefully evaluates whether U.S. financial
reporting would be improved by implementing approaches consistent with particular IFRS
standards. This also would enhance international comparability for the benefit of investor.
What are the financial reports required of all What aIDitional.docx
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What are the financial reports required of all What aIDitional.docx
All not-for-profits are required to provide financial reports including a statement of financial position, a statement of activities, and a statement of cash flows. Voluntary health and welfare organizations must also provide a statement of functional expenses. The financial reports outline the three classes of net assets as unrestricted, temporarily restricted, and permanently restricted. They provide accounting guidelines for property, plant, and equipment acquired with both unrestricted and restricted revenues. The reports also outline accounting and reporting standards for investments, contributions, and multiyear pledges.
GENERAL OVERVIEW OF ACCOUNTING AND FINANCIAL REPORTING BEST PRACTICES AND STR...
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https://sellfy.com/p/TFhw/
Financial Environments Worksheet.
• Identify three examples of entities with for-profit, not-for-profit, and government financial environments in the health care industry.
• Compare the similarities and differences between the for-profit, not-for-profit, and government financial environments.
Dankwambo transition to ipsas and their impact on transparency, a case study ...
The document summarizes Nigeria's transition to adopting International Public Sector Accounting Standards (IPSAS). It discusses Nigeria conducting a gap analysis between its existing accounting standards and IPSAS requirements. Several gaps were identified, including issues around the legal framework, accounting for external assistance, consolidation of controlled entities, and timeliness of financial reporting. Nigeria developed a work program to address the gaps through actions like consolidating controlled entity cash flows and improving timeliness of financial statement submission. Successful adoption of IPSAS requires conditions like a sound cash-based accounting system, political support, technical capacity, and automated information systems.
• Determine what you believe to be the major obstacles to the conver.pdf
• Determine what you believe to be the major obstacles to the convergence process. Recommend
two (2) strategies that the IASB could use in order to improve the convergence process overall.
Justify your response.
Solution
WHY IS IT IMPORTANT TO HAVE MORE COMPARABLE GLOBAL ACCOUNTING
STANDARDS? HOW DOES THAT EFFORT FIT WITH THE FASB’S MISSION?
The first priority of the Financial Accounting Standards Board (FASB) is to improve financial
reporting for the benefit of investors and other users of financial information in U.S. capital
markets. We do that by striving to set the highest-quality standards, which collectively are
known as Generally Accepted Accounting Principles (GAAP). By highest quality, we mean
standards that provide users of financial statements with information that is clear, useful, and
relevant to their needs, while considering whether the expected benefits of that information
justify the costs of providing and using it.
The FASB believes that seeking more comparable global accounting standards—improving the
quality of accounting standards used around the world while reducing differences among those
standards—is consistent with its core mission. Investors, companies, auditors, and other
participants in the U.S. financial reporting system benefit from the increased comparability that
can result from the closer alignment of standards used internationally. More comparable
standards have the potential to reduce costs for both users and preparers of financial statements
and make worldwide capital markets more efficient. The Securities and Exchange Commission
(SEC) expects the FASB to consider, in developing standards, the extent to which international
comparability is necessary or appropriate in the public interest and for the protection of
investors.
HOW DOES THE FASB SEEK GREATER COMPARABILITY?
As we conclude the bilateral convergence program begun in 2002 by the FASB and the
International Accounting Standards Board (IASB), the FASB has implemented a three-part
strategy for seeking greater comparability in accounting standards internationally:
Developing High Quality GAAP Standards
The FASB continually strives to meet the needs of investors and other users of GAAP-based
financial reports, both within and outside the United States, by improving the quality of GAAP.
The FASB believes that the high-quality standards it develops will continue to influence the
shape and future direction of international standards, as they have for more than 40 years. By
creating high-quality standards through a best-in-class standard-setting process, the FASB serves
as a reference point and benchmark for others. In other words, we will continue to lead by setting
an example of excellence.
As it undertakes standard-setting projects, the FASB carefully evaluates whether U.S. financial
reporting would be improved by implementing approaches consistent with particular IFRS
standards. This also would enhance international comparability for the benefit of inves.
Annual Report Project .docx
Annual Report Project
Nancy A. Herring, PhD, CPA
COPYRIGHT PAGE
Cover page image ©2010 PhotoDisc/Getty Images
Copyright © 2010 by John Wiley & Sons, Inc.
All rights reserved.
No part of this publication may be reproduced, stored in a retrieval system or transmitted
in any form or by any means, electronic, mechanical, photocopying, recording, scanning
or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States
Copyright Act, without either the prior written permission of the Publisher, or authorization through
payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive,
Danvers, MA 01923, website www.copyright.com. Requests to the Publisher for permission should be
addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030-
5774, (201)748-6011, fax (201)748-6008, website http://www.wiley.com/go/permissions.
To order books or for customer service, please call 1(800)-CALL-WILEY (225-5945).
Printed in the United States of America.
ISBN 978-0-470-87479-0
Annual Report Project | 1
Annual Report Project
To the Student
The Annual Report Project (ARP) provides you the opportunity to analyze a corporate annual
report. You will obtain the annual report of a Fortune 500 company and answer questions regard-
ing the application of concepts studied in your financial accounting course.
The Annual Report Project:
Will increase your interest in financial accounting by allowing you to personally
choose the annual report you will review
Provides hands-on exposure to financial statements of real-world companies
Emphasizes the importance of the notes to the financial statements
Provides an opportunity to examine the application of procedures and methods
discussed in your accounting textbook
Encourages you to work with spreadsheets
The Annual Report Project consists of twelve assignments and is designed to be a useful supple-
ment both for undergraduate financial accounting courses and for introductory financial account-
ing at the M.B.A. level. The following is a list of the topics covered in each Annual Report Pro-
ject assignment:
ARP 1 Obtaining the Annual Report
ARP 2 Company Information
ARP 3 Overview of the Annual Report
ARP 4 The Balance Sheet
ARP 5 The Income Statement
ARP 6 Current Assets
ARP 7 Long-lived Assets
ARP 8 Liabilities
ARP 9 Stockholders’ Equity
ARP 10 Statement of Cash Flow
ARP 11 International Financial Reporting Standards
ARP 12 Overall Evaluation
2 | Annual Report Project
ORGANIZATION OF EACH ASSIGNMENT
Beginning with Assignment 4, each assignment consists of three parts:
THE BASICS requires you to find information in the annual report and may require
the calculation of some financial statement ratios.
FURTHER ANALYSIS often includes calculating and interpreting financial
statem.
International Public Sector Accounting Standards and Financial Reporting in N...
IOSR Journal of Economics and Finance (IOSR-JEF) discourages theoretical articles that are limited to axiomatics or that discuss minor variations of familiar models. Similarly, IOSR-JEF has little interest in empirical papers that do not explain the model's theoretical foundations or that exhausts themselves in applying a new or established technique (such as cointegration) to another data set without providing very good reasons why this research is important.
International accounting: Comparative accounting the americas and asia
The document discusses and compares the accounting systems and standards of 5 countries: the US, Mexico, Japan, China, and India. It covers topics such as the regulatory bodies that set standards, enforcement mechanisms, required financial reporting, and accounting measurements for items like business combinations, inventory, fixed assets, and research/development costs. Overall, the accounting in these countries has been influenced by their political and economic ties, with the US having significant influence on Mexico and India originally adopting British standards.
UWS 2016 Economic Impact Report PDF
The document is a report on the 2016 economic impact of University of Western States. It found that UWS had a total gross output of $60,076,485, total GDP of $36,061,151, and supported 792 total jobs in the region. Additionally, it was noted that UWS provides approximately 26,000 pro-bono clinic visits annually valued at $2,968,789 and that over half of UWS alumni live in Oregon or Washington.
Report on-international public-sector accounting standards (ipsas)
In the current “global revolution in government accounting,” International Public-Sector Accounting Standards (IPSAS) are proposed for adoption by governments around the world. After describing the nature of IPSAS, the paper discusses conceptual issues concerning system capability and internal accountability, conceptual framework, emulation of business standards, accrual basis of accounting and consolidated financial statements. The institutional issues regarding the representation on the IPSAS board and the sole oversight by the International Federation of Accountants (IFAC) are also analyzes. Setting standards is a first step on the long road of fundamentally reforming government accounting practices around the world.
Hawaii health connector 2014 annual report
The summary provides an overview of the 2014 annual report of the Hawaii Health Connector. It discusses challenges faced in the initial launch in 2013 that persisted through 2014 open enrollment. Enrollment did not meet expectations and operational issues were the focus of 2014. However, improvements were made to processes and technology. The Connector was able to preserve Hawaii's Prepaid Health Care Act of 1974 and integrate it with the Affordable Care Act requirements. Three economic models are presented projecting enrollment numbers, revenues, expenses and surplus/deficit for the years 2015-2024 under a base, low and high case. The base case projects the Connector becoming self-sustaining by 2022. The report examines the potential economic benefits to Hawaii
NFP InformationASU 2016-14.pdfNot-for-Profit Entities (.docx
NFP Information/ASU 2016-14.pdf
Not-for-Profit Entities (Topic 958)
No. 2016-14
August 2016
Presentation of Financial Statements of
Not-for-Profit Entities
An Amendment of the FASB Accounting Standards Codification®
The FASB Accounting Standards Codification® is the source of authoritative
generally accepted accounting principles (GAAP) recognized by the FASB to be
applied by nongovernmental entities. An Accounting Standards Update is not
authoritative; rather, it is a document that communicates how the Accounting
Standards Codification is being amended. It also provides other information to help
a user of GAAP understand how and why GAAP is changing and when the
changes will be effective.
For additional copies of this Accounting Standards Update and information on
applicable prices and discount rates contact:
Order Department
Financial Accounting Standards Board
401 Merritt 7
PO Box 5116
Norwalk, CT 06856-5116
Please ask for our Product Code No. ASU2016-14.
FINANCIAL ACCOUNTING SERIES (ISSN 0885-9051) is published monthly
with the exception of January, August, and October by the Financial Accounting
Foundation, 401 Merritt 7, PO Box 5116, Norwalk, CT 06856-5116. Periodicals
postage paid at Norwalk, CT and at additional mailing offices. The full subscription
rate is $255 per year. POSTMASTER: Send address changes to Financial
Accounting Standards Board, 401 Merritt 7, PO Box 5116, Norwalk, CT 06856-
5116. | No. 438
Copyright © 2016 by Financial Accounting Foundation. All rights reserved.
Content copyrighted by Financial Accounting Foundation may not be
reproduced, stored in a retrieval system, or transmitted, in any form or by any
means, electronic, mechanical, photocopying, recording, or otherwise, without
the prior written permission of the Financial Accounting Foundation. Financial
Accounting Foundation claims no copyright in any portion hereof that
constitutes a work of the United States Government.
An Amendment of the FASB Accounting Standards Codification®
No. 2016-14
August 2016
Not-for-Profit Entities (Topic 958)
Presentation of Financial Statements of
Not-for-Profit Entities
Accounting Standards Update
Financial Accounting Standards Board
Accounting Standards Update 2016-14
Not-for-Profit Entities (Topic 958)
Presentation of Financial Statements of Not-for-Profit
Entities
August 2016
CONTENTS
Page
Numbers
Summary ........................................................................................................... 1–6
Amendments to the FASB Accounting Standards Codification® ................... 7–233
Background Information and Basis for Conclusions .................................. 234–263
Amendments to the XBRL Taxonomy ............................................................... 264
1
Summary
Why Is the FASB Issuing This Accounting Standards
Update (Update)?
The FASB added a pr ...
World Accounting Summit 2009
The document discusses the adoption of International Public Sector Accounting Standards (IPSAS) in government financial reporting. It describes how the increased role of governments in banking and fiscal policy has led to calls for greater transparency and accountability in the public sector. IPSAS are presented as standards designed to increase comparability and transparency by bringing public sector accounting practices more in line with commercial standards like IFRS. The document outlines some of the key IPSAS on issues like service concessions and social benefits reporting. It also discusses challenges in implementing IPSAS and lessons learned from countries that have transformed their reporting to align with IPSAS.
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Calcule los ndices financieros de Yahoo:
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Hoja de balance
Todos los nmeros en miles Final del periodo 31/12/2016 31/12/2015 31/12/2014 Activos
circulantes Efectivo y equivalentes de efectivo 1,119,469 1,631,911 2,664,098 Inversiones a
corto plazo 5,700,925 4,225,112 5,327,412 Crditos netos 1,084,267 1,047,504 1,032,704
Inventario - - - Otros activos circulantes 221,499 602,792 420,207 Total de activos corrientes
8,126,160 7,507,319 9,444,421 Inversiones a largo plazo 37,963,470 34.651.551 44.588.259
Propiedad Planta y Equipo 1,209,937 1,547,323 1,487,684 Buena voluntad 415,809 808,114
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activos 206,059 342,390 563,560 Cargos diferidos de activos a largo plazo - - - Los activos
totales 48,083,079 45.203.966 61.707.336 Pasivo circulante Cuentas por pagar 1,178,196
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109,228 134,031 336,963 Total pasivos corrientes 1,287,424 1,277,380 4.514.983 Deuda a largo
plazo 1,299,945 1,233,485 1,170,423 Otros pasivos 95,597 118,689 143,095 Cargos diferidos de
responsabilidad a largo plazo 14,316,037 13.494.992 17,093,243 Inters minoritario 34,793
35,883 43,755 Fondo de comercio negativo - - - Responsabilidad total 17,033,796 16,160,429
22,965,499 Capital contable Varios Garantas de opciones sobre acciones - - - Acciones
preferentes rescatables - - - Acciones preferentes - - - Acciones comunes 969 959 945 Ganancias
retenidas 4,353,958 4,570,807 8,934,244 Autocartera -908,996 -911,533 -712,455 Supervit de
capital 9,125,459 8,807,273 8,499,475 Otro capital contable 18,477,893 16,576,031 22,019,628
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int partition(elemType list[], int first, int last)
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smallIndex = first;
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swap(list, smallIndex, index);
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swap(list, first, smallIndex);
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cemex
La estrategia de crecimiento de CEMEX fue impulsada por adquisiciones a nivel mundial
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comenz a expandirse y
F
AEW
SON
Copyright 2008 INSEAD
Este caso fue escrito por Henning Hoeber, Investigador Visitante de INSEAD y Acadmico de la
Fundacin Heinrich Hertz, bajo la supervisin de Lourdes Casanova, Profesora del Departamento
de Estrategia de INSEAD. Est destinado a ser utilizado como base para la discusin en clase en
lugar de ilustrar el manejo efectivo o ineficaz de una situacin administrativa.
84
GAIDO
Delaware
de Chihuahua permiti a CEMEX expandir su alcance a una regin que anteriormente haba estado
dominada por este nico jugador. Gracias a estas transacciones, CEMEX control
aproximadamente el 60 por ciento del mercado de cemento de Mxico y se ubic entre las 10
empresas cementeras ms grandes del mundo.
Con su escala recin desarrollada, CEMEX estaba listo para internacionalizar sus operaciones.
Adems, a fines de la dcada de 1980, Zambrano decidi deshacerse de todas las participaciones
novedosas, desviar los procedimientos al negocio principal del cemento y concentrarse en la
diversificacin geogrfica. Varios aos despus, el CEO reflexion sobre los movimientos de la
empresa: De repente nos encontramos compitiendo con compaas internacionales muy grandes en
un momento de consolidacin en la industria mundial del cemento. Quedaban pocos productores
independientes. O nos volvamos grandes e internacionales, o terminaramos siendo comprados
por un jugador ms grande". 5
Caso 6: CEMEX: Construyendo una Latina Global
ROVCE
.
.
.
integrando verticalmente la produccin de cemento y concreto en todo Mxico. El crecimiento
nacional de CEMEX fue impulsado por la construccin de plantas y adquisiciones estratgicas,
sobre todo, Cementos Maya (1969) y Cementos Guadalajara (1976). La empresa cotiz en la bolsa
de valores de Mxico en 1976. En 1980, las polticas de sustitucin de importaciones del gobierno
mexicano facilitaron un mayor crecimiento, especialmente el Programa para el Fomento de la
Industria del Cemento, que alent a los actores nacionales a satisfacer las necesidades de el
mercado mexicano y la competencia extranjera restringida.
Con limitadas oportunidades de crecimiento en el extranjero, CEMEX comenz a diversificarse.
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hoteles, minera y petroqumica. En 1982, una severa crisis econmica en Mxico.
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