The New Meaning of Generally Accepted
Accounting Principles
Geary, K Michael . Ohio CPA Journal ; Columbus Vol. 51, Iss. 4, (Aug 1992): 30.
ProQuest document link
ABSTRACT
Statement on Auditing Standards (SAS) 69 states that a generally accepted accounting principle (GAAP) is a
technical accounting term that encompasses the conventions, rules, and procedures necessary to define accepted
accounting practice at a particular time. SAS 69 defines a hierarchy of established accounting principles. Faced
with a decision concerning the acceptability of an accounting principle used by a client, the practitioner is
supposed to consult this hierarchy for the highest level of support. SAS 69 includes 2 separate but parallel
hierarchies - one for nongovernmental entities and one for state and local government entities. The issuance of
SAS 69 should provide sufficient reason for certified public accountants to reestablish their understanding of what
constitutes a GAAP and make sure that their professional libraries include the necessary technical materials.
DETAILS
Subject: Statements on auditing standards; GAAP; Financial statements; Auditing standards;
Accounting policies; SAS 69
Location: US
Classification: 9190: US; 4130: Auditing
Publication title: Ohio CPA Journal; Columbus
Volume: 51
Issue: 4
Pages: 30
Number of pages: 2
Publication year: 1992
Publication date: Aug 1992
Publisher: Ohio Society of Certified Public Accountants
Place of publication: Columbus
Country of publication: United States, Columbus
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Publication subject: Business And Economics--Accounting
ISSN: 07498284
Source type: Trade Journals
Language of publication: English
Document type: PERIODICAL
Accession number: 00639964, 00370267
ProQuest document ID: 214823622
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Copyright: Copyright Ohio Society of Certified Public Accountants Aug 1992
Last updated: 2014-05-24
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The document provides information on 10 sites Navy servicemembers can use to update records and manage their career. It summarizes key Navy online resources including the Electronic Service Record, CMS/ID, PRIMS, Navy COOL, Navy College, Tutor.com, and STAYNAVY. Readers are encouraged to regularly review their records on these sites to ensure accuracy. Contact information is provided for assistance with corrections or updating records.
The document provides information on 10 sites sailors can use to update records and manage their Navy career. These include sites to review the electronic service record, view training and education records, check awards, view physical readiness results, and apply for tuition assistance. Information is also provided on credentialing opportunities, Navy college programs, and online tutoring resources. Sailors are encouraged to regularly review their records on these sites and take any needed actions to ensure the information is accurate and up-to-date.
Assessment Rubrics:-
Categories
(Level 1)
(Level 2)
(Level 3)
(Level 4)
Information Technology (IT 6) – Evaluation - Search 10 jobs (online or by talking to people in companies) that require knowledge workers. Describe these jobs and explain how and why knowledge workers are needed to fill these jobs.
Problem Solving (PS 4) – Analysis – In Module No 2 we introduced three key processes—procurement, fulfillment, and production. There are a number of other processes in an organization, such as those related to product development, and managing people. Identify 02 additional process that is typical in organizations. You may consider an organization you have worked in or the educational institution you are attending.
Problem Solving (PS 3) – Application–- You have identified one specific enterprise system— SAP ERP. Discover other 05 enterprise systems that are available to organizations, and highlight the relative advantages and disadvantages of each one.
ASSIGNMENT
1. Search 05 jobs (online or by talking to people in companies) that require knowledge workers. Describe these jobs and explain how and why knowledge workers are needed to fill these jobs. [125 marks]
Instruction for the solution
1. You will search for 05 jobs.
2. Make a table as following for the answer.
S#
Job Name
Description
Responsibilities
Required Qualification and skills
Expected Activities they perform as a knowledge worker
Why this job requires knowledge worker
Expected Salary
Q1: Marks distribution
Job Name
Description
Responsibilities
Required Qualification and skills
Expected Activities they perform as a knowledge worker
Why this job requires knowledge worker
Expected Salary
05
10
25
25
25
25
10
2. In Module No 2 we introduced three key processes—procurement, fulfillment, and production. There are a number of other processes in an organization, such as those
related to product development, and managing people. Identify 02 additional process that is typical in organizations. You may consider an organization you have worked in or the educational institution you are attending. [50 marks]
Instruction for the solution
For the process provide the following:
(a) Name and a brief description of the process.
(b) The purpose or desired outcome.
(c) Steps in the process and the person and functional area responsible for
completing each step.
(d) Data, document, and information flows associated with the process.
(e) The types of inefficiencies (delays, etc.) associated with the manual execution
of this process
(f) The role of enterprise systems in supporting this process.
Q2: Marks distribution
a.
b.
c.
d.
e.
f.
3
2
10
15
10
10
HMD 101
1
The Managed Service
Business
Managed Services
Top three managed services companies
employ over one million worldwide
Most people have never heard of these
companies - they thrive on transparency
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Mb0044 production and operation managementsmumbahelp
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
“ help.mbaassignments@gmail.com ”
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Mb0044 production and operation managementsmumbahelp
Dear students get fully solved SMU MBA assignments
Send your semester & Specialization name to our mail id :
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or
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Cyclistic bike-share analysis case study. A bike-share program that features more than 5,800 bicycles and 600 docking stations. Cyclistic sets itself apart by also offering reclining bikes, hand tricycles, and cargo bikes, making bike-share more inclusive to people with disabilities and riders who can’t use a standard two-wheeled bike. The majority of riders opt for traditional bikes; about 8% of riders use the assistive options. Cyclistic users are more likely to ride for leisure, but about 30% use them to commute to work each day. The director of marketing believes the company’s future success depends on maximizing the number of annual memberships. Therefore, we need to understand how casual riders and annual members use Cyclistic bikes differently. From these insights, the marketing team will design a new marketing strategy to convert casual riders into annual members.
A junior data analyst working in the marketing analytics team at Cyclistic -a bike-share company in Chicago- The marketing team wants to design a new marketing strategy to convert casual riders into annual members. • Data has been cleaned, organized and visualized using R. And recommendations were given based on the key findings.
Mb0044 production and operation managementsmumbahelp
SABMiller, a $24 billion brewing company, revamped its supply chain management system to address stock-outs of popular brands. The company implemented a new forecasting and planning system using Infor software to better integrate demand data from various sources and optimize production scheduling and profits. The new system is being tested in South Africa with plans to roll it out globally. It aims to reduce stock-outs, improve forecasting accuracy by 40%, and lower costs.
The document provides information on 10 sites Navy servicemembers can use to update records and manage their career. It summarizes key Navy online resources including the Electronic Service Record, CMS/ID, PRIMS, Navy COOL, Navy College, Tutor.com, and STAYNAVY. Readers are encouraged to regularly review their records on these sites to ensure accuracy. Contact information is provided for assistance with corrections or updating records.
The document provides information on 10 sites sailors can use to update records and manage their Navy career. These include sites to review the electronic service record, view training and education records, check awards, view physical readiness results, and apply for tuition assistance. Information is also provided on credentialing opportunities, Navy college programs, and online tutoring resources. Sailors are encouraged to regularly review their records on these sites and take any needed actions to ensure the information is accurate and up-to-date.
Assessment Rubrics:-
Categories
(Level 1)
(Level 2)
(Level 3)
(Level 4)
Information Technology (IT 6) – Evaluation - Search 10 jobs (online or by talking to people in companies) that require knowledge workers. Describe these jobs and explain how and why knowledge workers are needed to fill these jobs.
Problem Solving (PS 4) – Analysis – In Module No 2 we introduced three key processes—procurement, fulfillment, and production. There are a number of other processes in an organization, such as those related to product development, and managing people. Identify 02 additional process that is typical in organizations. You may consider an organization you have worked in or the educational institution you are attending.
Problem Solving (PS 3) – Application–- You have identified one specific enterprise system— SAP ERP. Discover other 05 enterprise systems that are available to organizations, and highlight the relative advantages and disadvantages of each one.
ASSIGNMENT
1. Search 05 jobs (online or by talking to people in companies) that require knowledge workers. Describe these jobs and explain how and why knowledge workers are needed to fill these jobs. [125 marks]
Instruction for the solution
1. You will search for 05 jobs.
2. Make a table as following for the answer.
S#
Job Name
Description
Responsibilities
Required Qualification and skills
Expected Activities they perform as a knowledge worker
Why this job requires knowledge worker
Expected Salary
Q1: Marks distribution
Job Name
Description
Responsibilities
Required Qualification and skills
Expected Activities they perform as a knowledge worker
Why this job requires knowledge worker
Expected Salary
05
10
25
25
25
25
10
2. In Module No 2 we introduced three key processes—procurement, fulfillment, and production. There are a number of other processes in an organization, such as those
related to product development, and managing people. Identify 02 additional process that is typical in organizations. You may consider an organization you have worked in or the educational institution you are attending. [50 marks]
Instruction for the solution
For the process provide the following:
(a) Name and a brief description of the process.
(b) The purpose or desired outcome.
(c) Steps in the process and the person and functional area responsible for
completing each step.
(d) Data, document, and information flows associated with the process.
(e) The types of inefficiencies (delays, etc.) associated with the manual execution
of this process
(f) The role of enterprise systems in supporting this process.
Q2: Marks distribution
a.
b.
c.
d.
e.
f.
3
2
10
15
10
10
HMD 101
1
The Managed Service
Business
Managed Services
Top three managed services companies
employ over one million worldwide
Most people have never heard of these
companies - they thrive on transparency
M ...
Mb0044 production and operation managementsmumbahelp
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
“ help.mbaassignments@gmail.com ”
or
Call us at : 08263069601
(Prefer mailing. Call in emergency )
Mb0044 production and operation managementsmumbahelp
Dear students get fully solved SMU MBA assignments
Send your semester & Specialization name to our mail id :
“ help.mbaassignments@gmail.com ”
or
Call us at : 08263069601
Cyclistic bike-share analysis case study. A bike-share program that features more than 5,800 bicycles and 600 docking stations. Cyclistic sets itself apart by also offering reclining bikes, hand tricycles, and cargo bikes, making bike-share more inclusive to people with disabilities and riders who can’t use a standard two-wheeled bike. The majority of riders opt for traditional bikes; about 8% of riders use the assistive options. Cyclistic users are more likely to ride for leisure, but about 30% use them to commute to work each day. The director of marketing believes the company’s future success depends on maximizing the number of annual memberships. Therefore, we need to understand how casual riders and annual members use Cyclistic bikes differently. From these insights, the marketing team will design a new marketing strategy to convert casual riders into annual members.
A junior data analyst working in the marketing analytics team at Cyclistic -a bike-share company in Chicago- The marketing team wants to design a new marketing strategy to convert casual riders into annual members. • Data has been cleaned, organized and visualized using R. And recommendations were given based on the key findings.
Mb0044 production and operation managementsmumbahelp
SABMiller, a $24 billion brewing company, revamped its supply chain management system to address stock-outs of popular brands. The company implemented a new forecasting and planning system using Infor software to better integrate demand data from various sources and optimize production scheduling and profits. The new system is being tested in South Africa with plans to roll it out globally. It aims to reduce stock-outs, improve forecasting accuracy by 40%, and lower costs.
This document summarizes the services of Americas Great Resorts (AGR), a luxury travel marketing program. AGR was founded in 1988 and has grown to a membership of over 2.8 million high-income, frequent luxury travelers. AGR offers custom email marketing campaigns and an online guide to luxury resorts. Through targeted email campaigns, AGR helps resorts and destinations generate new bookings and drive customer acquisition. AGR's campaigns include filtering members by detailed criteria, testing content, tracking performance, and analyzing return on investment through increased room bookings.
The document discusses Insight's top accounts for 2009, including the Wisconsin Department of Health. It details a case with the Wisconsin Department of Health where Insight helped migrate 6,000 users from a Novell to Microsoft network while changing asset management strategies. Additionally, it provides overviews of key accounts, top growth areas for 2010, CRM metrics, and revenue and gross profit trends.
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The purpose of this project was to review the Ladera Resort website and establish recommendations for an overall measurement strategy. This task was done without access to the site's Google Analytics account. I completed it by looking at the site, articulating what to measure, why, and what sort of outcomes I would hope to garner from implementation.
It’s in your blood. You can’t help it. You can’t explain it. You see an open slope and you have to bomb it. You are a speed freak. There is no cure. But there is a support group.
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- Steven Nyman U.S. Ski Team member and Olympian
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This document discusses finding optimal product combinations under price promotions. It introduces the concept of finding the k-most promising product combinations (k-MPP) from a set of products that will attract the maximum number of customers. An algorithmic framework is proposed to handle the k-MPP query and its variations. The framework uses lattice-based data partitioning and parallel computing techniques. Extensive experiments on real and synthetic datasets demonstrate the effectiveness and efficiency of the proposed framework.
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This document discusses using SAS to analyze a sales funnel by structuring data and creating exclusion variables to model the funnel. It demonstrates how to:
1) Structure a dataset with customer information and define possible exclusion variables
2) Create SAS code to apply the exclusion variables in a waterfall analysis for an email marketing campaign
3) Show how the order of exclusions affects the number excluded but not the final count
4) Introduce the general and unique exclusion profiles as better ways to assess the impact of individual exclusions
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SABMiller revamped its supply chain management system to address stock-outs of popular brands during peak periods in recent years. A study revealed the supply chain was complex due to diverse and changing demand factors in South Africa. SABMiller implemented Infor's advanced supply chain management system to integrate demand forecasting, manufacturing scheduling, and financial planning across its operations. This allows SABMiller to produce products in the most cost-effective locations based on updated demand information. The new system is expected to increase flexibility and profitability while ensuring high stock availability.
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CMIT 451
Course Final Project Paper
The Evil Corp. Unlimited (ECU) network has been experiencing exponential growth over the last
year and has also seen a tremendous amount of turnover in its networking staff. One network
engineer was even caught practicing for his CCIE lab exam in the ECU production network
environment and is one reason why the environment looks (and is configured) as you see above.
ECU is seeking help and your company has been given the opportunity to respond to the ECU
Request for Proposals (RFP). Your RFP, which should not contain a single CLI command,
should contain your company’s proposal/solution for how ECU is going to accomplish routing in
their current enterprise network environment given the topology you see below:
In addition to addressing their current challenges, your proposal should outline any steps that you
would recommend ECU take to improve their overall network architecture. Your RFP should
address how ECU will:
1. Implement routing security throughout the network where appropriate
2. Implement redistribution where required for a fully functional network
3. Implement eBGP connections to the two (2) Internet Service Providers (ISPs) along with
all policy required for redundancy
4. Implement iBGP internally in the ECU network where indicated to include all facets of
an iBGP deployment
5. Implement a solution so that ECU’s network does not become a transit network for ISP
traffic
6. Address why all of R10’s routes are not showing up in the network and why R10 sees no
routes from the rest of the environment
7. Address any other routing recommendations to ensure optimal network operation and
convergence
8. Discuss any future improvements that you would recommend to ECU for their
environment
At a minimum your proposal needs to meet the following criteria:
• A title page
• A "running head"
• An abstract (150 words or less)
• A table of contents
• A reference section
• Remember to use double-spacing (including references), a 1" margin on all sides, and the
Times New Roman 12-point font
• The title page, abstract, references, and all tables and figures/network diagrams should be
on their own individual pages and the length of your paper should be between 7-10 pages
inclusive of the title page, abstract, references, and all tables.
• Carefully write your proposal so paragraphs naturally flow from one to the other
• Remember that your paper is being evaluated based on:
o How well you use the course literature in designing and carrying out your
proposal
o The logic, justification for, and structure of your proposal
o How realistic what you propose is (could it actually be implemented)
o How creative your solution is given the topology
o The likelihood that your proposal would really have an impact/resolve their issues
o Ways in which you will insure the proposal will be carried out as planned
o Your ability to evaluate the effectiveness of ...
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This document recognizes 14 retailers who won awards for their innovative store operations strategies in categories such as customer engagement, workforce management, social/mobile strategies, and inventory management/loss prevention. It provides details on the award winners, including the category won, number of stores, annual revenue, and a brief description of the strategy implemented. The strategies highlighted effective use of mobile technologies, data analytics, employee motivation and social media to improve the customer experience and store operations.
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The objective of this assignment is to encourage the students to.docxdennisa15
The objective of this assignment is to encourage the students to use excel spreadsheets to aid in problem solving. Students are asked to solve a capital budgeting problem using an excel spreadsheet.
Format: The assignment is a problem solving exercise using an excel spreadsheet with additional discussion on findings considering both quantitative measures and qualitative issues.
Documents: Students should submit the following documents IN HARD COPY SUBMISSION:
· an assignment COVER sheet
· a copy of the FORMAL report
· a copy of the EXCEL spreadsheet displaying VALUES
· a copy of the EXCEL spreadsheet displaying excel FORMULAS
Online Submission: Link and details will be available on Canvas.
For online submission on Canvas via Turnitin, submit ONLY ONE FILE including
ONLY
the
Assignment
Cover
Page
along
with
the
copy
of
Formal
Report
.
Details of Assignment
Assume that you are an adviser at HITECH Ltd, which is analysing the introduction of a new game console named NEUROFORCE. This system can be connected with human brain functions and still very much controversial for claimed but yet to be confirmed adverse impacts on human behaviour after prolonged application. Health conscious groups are also lobbying against introduction of such games with probable detrimental effects.
The project manager of HITECH Ltd needs a detail analysis on this exciting NEUROFORCE project. She comes into your office, drops a consultant’s report on your desk, and complains, “We paid these consultants $1 million for this report, and I am not sure their financial analysis makes sense, though their estimations seem to be correct. Before we spend $30 million on
buying new equipment needed for this project, look it over and give me your opinion.” You open the report and find the following information and estimates:
The project will continue for next 7 years, by that time more reliable information on possible adverse impacts of using NEUROFORCE will be available. It is projected that equipment will have economic life of 10 years. After buying the equipment, it requires to renovate the production bay at HITECH Ltd and install the equipment at a total cost of $1 million. These renovation and installation costs are to be considered as capital expenditures. Staff training cost of $100,000 is to be incurred initially at the start of the project.
The equipment will be procured from SWEDEN and HITECH Ltd has to pay 8% import duty on purchase price, whereas the supplier will pay transportation costs of $70,000. These property, plant and equipment (PPE) would be depreciated over its useful life of 10 years using a tax allowable straight-line rate of 10%. However, the company is planning to sell the equipment at the end of the project for an estimated price of $6 million.
Consultants estimate that 48,000 NEUROFORCE consoles can be sold in the first year with an expected increase by 25% in each year for next two years; afterwards sales are expected to decr.
The objective of the work is to do a program in C++, to consult the .docxdennisa15
The objective of the work is to do a program in C++, to consult the information of various projects belonging to companies to crowdfunding.
So first every project information, belonging to x company (two or more projects can belong to the same company) will be included in a text file with the following ( theres more that one project per text file):
Title:
Company name:
Name of the man in charge:
Project duration (in months):
Keywords:
Expenses:
Equipment:
Scholarships:
Consumables:
Accounting:
Trips:
General expenses:
·
This part is just a text file, including the information of all projects that need to be consulted by the user, not needed to be implemented into the code.
Now into the program:
First the user must be able to input the name of what text file he wants to read the information from.
Then the infomation of each project must be stored into a linked list.
Each project should have his own code ( can be sequential, ie. Project1-> code:1 , Project2-> code:2…., being 1 and 2 the respective code.)
The user should be able:
to see all the projects that are in the text file that the user previously put the name of, ordered by the title name;
To search for a certain project by inputing their code;
To search for projects by inputing the company name, (ie. If two projects belong to the same company, the user will see the two projects, searching by x company);
Every extra function implemented in the program (ie. Validation, remotion of a project) will be a plus for the teacher.
.
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This document discusses using SAS to analyze a sales funnel by structuring data and creating exclusion variables to model the funnel. It demonstrates how to:
1) Structure a dataset with customer information and define possible exclusion variables
2) Create SAS code to apply the exclusion variables in a waterfall analysis for an email marketing campaign
3) Show how the order of exclusions affects the number excluded but not the final count
4) Introduce the general and unique exclusion profiles as better ways to assess the impact of individual exclusions
The overall goal is to analyze a retailer's loyalty program sales funnel to justify using direct mail or email as the primary contact channel and identify opportunities to expand the funnel.
SABMiller revamped its supply chain management system to address stock-outs of popular brands during peak periods in recent years. A study revealed the supply chain was complex due to diverse and changing demand factors in South Africa. SABMiller implemented Infor's advanced supply chain management system to integrate demand forecasting, manufacturing scheduling, and financial planning across its operations. This allows SABMiller to produce products in the most cost-effective locations based on updated demand information. The new system is expected to increase flexibility and profitability while ensuring high stock availability.
The document summarizes a camp management software called Camp & Class Manager. It discusses features to help camps get more campers through online registration, manage operations more efficiently with reporting and data tools, and build an engaged community year-round through communication features. The software aims to empower camp organizers through easy-to-use functionality based on customer feedback.
This document provides an overview and business plan for Island E-Bike Tours, an e-bike rental and tour company on the Big Island of Hawaii. The company will offer both self-guided tours using GPS devices pre-loaded with destinations, as well as guided tours along four pre-designed routes led by trained guides. Market analysis found opportunities in the growing e-bike and tourism industries and low local competition. Key success factors identified include establishing partnerships, developing user-friendly GPS audio tours, and promoting an adventure brand. Financial projections and marketing strategies are also outlined.
CMIT 451
Course Final Project Paper
The Evil Corp. Unlimited (ECU) network has been experiencing exponential growth over the last
year and has also seen a tremendous amount of turnover in its networking staff. One network
engineer was even caught practicing for his CCIE lab exam in the ECU production network
environment and is one reason why the environment looks (and is configured) as you see above.
ECU is seeking help and your company has been given the opportunity to respond to the ECU
Request for Proposals (RFP). Your RFP, which should not contain a single CLI command,
should contain your company’s proposal/solution for how ECU is going to accomplish routing in
their current enterprise network environment given the topology you see below:
In addition to addressing their current challenges, your proposal should outline any steps that you
would recommend ECU take to improve their overall network architecture. Your RFP should
address how ECU will:
1. Implement routing security throughout the network where appropriate
2. Implement redistribution where required for a fully functional network
3. Implement eBGP connections to the two (2) Internet Service Providers (ISPs) along with
all policy required for redundancy
4. Implement iBGP internally in the ECU network where indicated to include all facets of
an iBGP deployment
5. Implement a solution so that ECU’s network does not become a transit network for ISP
traffic
6. Address why all of R10’s routes are not showing up in the network and why R10 sees no
routes from the rest of the environment
7. Address any other routing recommendations to ensure optimal network operation and
convergence
8. Discuss any future improvements that you would recommend to ECU for their
environment
At a minimum your proposal needs to meet the following criteria:
• A title page
• A "running head"
• An abstract (150 words or less)
• A table of contents
• A reference section
• Remember to use double-spacing (including references), a 1" margin on all sides, and the
Times New Roman 12-point font
• The title page, abstract, references, and all tables and figures/network diagrams should be
on their own individual pages and the length of your paper should be between 7-10 pages
inclusive of the title page, abstract, references, and all tables.
• Carefully write your proposal so paragraphs naturally flow from one to the other
• Remember that your paper is being evaluated based on:
o How well you use the course literature in designing and carrying out your
proposal
o The logic, justification for, and structure of your proposal
o How realistic what you propose is (could it actually be implemented)
o How creative your solution is given the topology
o The likelihood that your proposal would really have an impact/resolve their issues
o Ways in which you will insure the proposal will be carried out as planned
o Your ability to evaluate the effectiveness of ...
This document recognizes 14 retailers who won awards for their innovative store operations strategies in categories such as customer engagement, workforce management, social/mobile strategies, and inventory management/loss prevention. It provides details on the award winners, including the category won, brands/store banners, number of stores, annual revenue, and a brief description of their innovative strategies. For example, it describes how A&W Canada implemented a mobile customer engagement solution to gather real-time customer feedback and improve the customer experience.
This document recognizes 14 retailers who won awards for their innovative store operations strategies in categories such as customer engagement, workforce management, social/mobile strategies, and inventory management/loss prevention. It provides details on the award winners, including the category won, number of stores, annual revenue, and a brief description of the strategy implemented. The strategies highlighted effective use of mobile technologies, data analytics, employee motivation and social media to improve the customer experience and store operations.
This document provides an overview and guidance for the Henderson Hall Back in the Saddle (BITS) 2021 training. It summarizes virtual events on safety topics and operational pauses to reset after the holidays. It outlines resources and programs to promote safety culture, including the Marine Corps Safety Management System, force preservation efforts using the CIRRAS tool, and a reorganization of the motorcycle club. The goal is to ensure Marines, sailors, and civilians remain focused on responsibilities and challenges in the new year while protecting health amid COVID-19.
Cynthia Kreizer's MS test scores on 5-05-16 via Fogarty & Knapp assessment on...Cindy Kreizer
The document provides the results of typing, Microsoft Outlook, Excel, and PowerPoint tests taken by Cynthia Kreizer. For each test, it lists the number and percentage of questions answered correctly, as well as percentiles compared to global averages. Overall, Cynthia scored highly on all tests, answering over 80% of questions correctly for each.
Cyclistic, a bike-share company in Chicago, wants to understand how casual riders and annual members use its bikes differently so it can design a marketing strategy to convert casual riders to members. As a junior data analyst, you will analyze Cyclistic's historical trip data from the past 12 months to identify trends and insights into how the two rider types differ. This will help the marketing team develop recommendations on targeted promotions and incentives to attract casual riders to purchase annual memberships.
The document discusses DSA's Marine Motion Measurement System (M3S) which measures motion data like acceleration, velocity, heading, attitude and position of marine vessels and platforms. The M3S provides a turn-key solution involving installation of hardware, configuration to collect desired data, statistical analysis and delivery of raw data. It can be customized for unique projects and provides tailored reports analyzing collected motion data for applications like ship comfort assessment, model validation and operations analysis.
A STRATEGIC FRAMEWORK FOR THE MAPD BID PROCESSKyle Raeder
The document describes an upcoming two-day conference focused on navigating the Medicare Advantage Prescription Drug (MAPD) bid process and Medicare Advantage member accounting and reconciliation. The conference will provide step-by-step guidance on developing a successful MAPD bid, including discussions on projections, plan design, network adequacy, and financial goals. It will also cover best practices for accurately calculating member revenue, validating enrollment data, resolving discrepancies in retroactive reconciliation, and Medicare Secondary Payer validation. Attendees will gain practical strategies to optimize their MAPD bids and reimbursements. Speakers will include executives from health plans and industry consultants.
Similar to The New Meaning of Generally AcceptedAccounting Principles.docx (20)
The objective of this assignment is to encourage the students to.docxdennisa15
The objective of this assignment is to encourage the students to use excel spreadsheets to aid in problem solving. Students are asked to solve a capital budgeting problem using an excel spreadsheet.
Format: The assignment is a problem solving exercise using an excel spreadsheet with additional discussion on findings considering both quantitative measures and qualitative issues.
Documents: Students should submit the following documents IN HARD COPY SUBMISSION:
· an assignment COVER sheet
· a copy of the FORMAL report
· a copy of the EXCEL spreadsheet displaying VALUES
· a copy of the EXCEL spreadsheet displaying excel FORMULAS
Online Submission: Link and details will be available on Canvas.
For online submission on Canvas via Turnitin, submit ONLY ONE FILE including
ONLY
the
Assignment
Cover
Page
along
with
the
copy
of
Formal
Report
.
Details of Assignment
Assume that you are an adviser at HITECH Ltd, which is analysing the introduction of a new game console named NEUROFORCE. This system can be connected with human brain functions and still very much controversial for claimed but yet to be confirmed adverse impacts on human behaviour after prolonged application. Health conscious groups are also lobbying against introduction of such games with probable detrimental effects.
The project manager of HITECH Ltd needs a detail analysis on this exciting NEUROFORCE project. She comes into your office, drops a consultant’s report on your desk, and complains, “We paid these consultants $1 million for this report, and I am not sure their financial analysis makes sense, though their estimations seem to be correct. Before we spend $30 million on
buying new equipment needed for this project, look it over and give me your opinion.” You open the report and find the following information and estimates:
The project will continue for next 7 years, by that time more reliable information on possible adverse impacts of using NEUROFORCE will be available. It is projected that equipment will have economic life of 10 years. After buying the equipment, it requires to renovate the production bay at HITECH Ltd and install the equipment at a total cost of $1 million. These renovation and installation costs are to be considered as capital expenditures. Staff training cost of $100,000 is to be incurred initially at the start of the project.
The equipment will be procured from SWEDEN and HITECH Ltd has to pay 8% import duty on purchase price, whereas the supplier will pay transportation costs of $70,000. These property, plant and equipment (PPE) would be depreciated over its useful life of 10 years using a tax allowable straight-line rate of 10%. However, the company is planning to sell the equipment at the end of the project for an estimated price of $6 million.
Consultants estimate that 48,000 NEUROFORCE consoles can be sold in the first year with an expected increase by 25% in each year for next two years; afterwards sales are expected to decr.
The objective of the work is to do a program in C++, to consult the .docxdennisa15
The objective of the work is to do a program in C++, to consult the information of various projects belonging to companies to crowdfunding.
So first every project information, belonging to x company (two or more projects can belong to the same company) will be included in a text file with the following ( theres more that one project per text file):
Title:
Company name:
Name of the man in charge:
Project duration (in months):
Keywords:
Expenses:
Equipment:
Scholarships:
Consumables:
Accounting:
Trips:
General expenses:
·
This part is just a text file, including the information of all projects that need to be consulted by the user, not needed to be implemented into the code.
Now into the program:
First the user must be able to input the name of what text file he wants to read the information from.
Then the infomation of each project must be stored into a linked list.
Each project should have his own code ( can be sequential, ie. Project1-> code:1 , Project2-> code:2…., being 1 and 2 the respective code.)
The user should be able:
to see all the projects that are in the text file that the user previously put the name of, ordered by the title name;
To search for a certain project by inputing their code;
To search for projects by inputing the company name, (ie. If two projects belong to the same company, the user will see the two projects, searching by x company);
Every extra function implemented in the program (ie. Validation, remotion of a project) will be a plus for the teacher.
.
The objective of the term paper requirement is to give you an opport.docxdennisa15
The objective of the term paper requirement is to give you an opportunity to explore a topic in considerable depth.
The guidelines below will help you craft your paper.
Please do not hesitate to email or call with questions.
Paper Guidelines
Length: 5-7 pages with references
Formatting: MS Word (.doc, .docx) only; 12 point Times New Roman font; 1.5 line spacing; all text left justified, no indent.
References: APA 6th citation format (see sample paper)
Choose your topic:
ERP Systems Decision Support Systems Artificial Intelligence Expert Systems Electronic Medical Records Information Assurance (Security) Geographic Information Systems Banking Systems Data Warehouses Data Mining Knowledge Management/KM systems Accounting Systems Human Resources systems Supply Chain Management Systems Customer Relationship Management Systems Other topics by arrangement
Please choose from the topics above.
Remember, these types of systems have been deployed across numerous domains (e.g. health care, banking, manufacturing, etc.).
You may research whatever domain interests you.
Alternatively, you can choose your own topic, however it must be OK’d by me before you proceed.
Paper details: Your paper should be organized as follows: 1. Introduction – introduce your topic, explain why it’s important, then briefly review what’s coming in subsequent sections. 2. Background/History – When did such systems come into use? Discuss seminal research or practical applications that advanced the field, discuss the history of your topic. 3. Current Practice/Research – how are such systems being used today?
Articulate the state of the art from both practical and research perspectives. 4. Future work – Discuss the future of your topic, describe what’s coming next in terms of advancements. 5. Conclusion – Summarize the paper briefly reviewing the findings presented in previous sections. 6. References
Six sections as outlined above, points will be deducted for not following organization guideline.
I expect your final paper to demonstrate college-level writing – correct spelling, grammar, punctuation, etc.
The final paper will be submitted using Turnitin, a plagiarism detection tool.
Plagiarism is a serious offence in this class and at IUE and will not be tolerated.
If you have questions related to this matter, please ask.
If you choose a topic from the list above, simply upload an MS Word file to the assignment ‘Term Paper Topic’ in OnCourse Assignments. Your document should contain the following: 1. Your name 2. Topic 3. Brief outline and one or two paragraphs documenting what your paper will cover.
An outline is a “blueprint” or “plan” for your paper.
It helps you to organize your thoughts and arguments. A good outline can make conducting research and then writing the paper very efficient.
Your outline page must include your:
Paper Title Thesis statement Major points/arguments indicated by Roman numerals (i.e., I, II, III, IV, V, etc.) Support for you.
The objective of the term project assignment is to prepare a Bid Pro.docxdennisa15
The objective of the term project assignment is to prepare a Bid Proposal for constructing a one-story single family house (MAKU Residence). Students must approach the assignment from the perspective of a construction contractor attending a bid, and prepare a professional price proposal using their knowledge, skills and common sense. This requires proper efforts with regards to:
View attachment for requirements please
.
The objective of the term paper requirement is to give you an oppo.docxdennisa15
The objective of the term paper requirement is to give you an opportunity to explore a topic in considerable depth.
The guidelines below will help you craft your paper.
Please do not hesitate to email or call with questions.
Paper Guidelines
Length: 5-7 pages with references
Formatting: MS Word (.doc, .docx) only; 12 point Times New Roman font; 1.5 line spacing; all text left justified, no indent.
References: APA 6th citation format (see sample paper)
Paper details: Your paper should be organized as follows: 1. Introduction – introduce your topic, explain why it’s important, then briefly review what’s coming in subsequent sections. 2. Background/History – When did such systems come into use? Discuss seminal research or practical applications that advanced the field, discuss the history of your topic. 3. Current Practice/Research – how are such systems being used today?
Articulate the state of the art from both practical and research perspectives. 4. Future work – Discuss the future of your topic, describe what’s coming next in terms of advancements. 5. Conclusion – Summarize the paper briefly reviewing the findings presented in previous sections. 6. References
Paper Title Thesis statement Major points/arguments indicated by Roman numerals (i.e., I, II, III, IV, V, etc.) Support for your major points, indicated by capital Arabic numerals (i.e., A, B, C, D, E, etc.
Roman numeral I should be your “Introduction”.
In the introduction portion of your paper, you’ll want to tell your reader what your paper is about and then tell what your paper hopes to prove (your thesis).
So an Introduction gives an overview of the topic and your thesis statement.
The final Roman numeral should be your “Conclusion”.
In the conclusion, you summarize what you have told your reader.
The following are 2 sample outlines from actual student papers.
YOUR outline should be as detailed and possibly MORE detailed depending on the subject matter.
Remember that a good outline makes writing easier and more efficient
Sample Outline #1
Title: The Federalist Papers’ Influence on the Ratification of the Constitution Thesis: The Federalist Papers influenced the ratification of the Constitution by making some of their most important arguments, including the importance of being in a Union by having a Constitution, answering to the objections made by the Anti-federalists about separation of powers, and defending opposing arguments made against the characteristics of the executive and judicial branch as provided in the Constitution.
I.
Introduction a.
Describe The Federalist Papers are and when they started
b.
Thesis:
The Federalist influenced the ratification of the Constitution by making some of their most important arguments, including the importance of being in a Union by having a Constitution, answering to the objections made by the Anti- federalists about separation of powers, and defending opposing arguments made against .
The objective of the introductory speech is for you to share a meani.docxdennisa15
The objective of the introductory speech is for you to share a meaningful event in your life such as coming of age, overcoming hardships, and the like. Remember to keep the audience best interest in mind by building a speech that shares a life's lesson.
RUBRIC
Outline title, purpose, and thesis statement fully developed.
5 points
Introduction follows stages as shown in sample.
6 points
Transition statements are clearly marked and developed.
6 points
Conclusion fully developed as shown in sample.
5 points
Outline is spelling, grammar, and punctuation error–free.
3 points
TOTAL
.
The objective of the introductory speech is for you to share a m.docxdennisa15
The objective of the introductory speech is for you to share a meaningful event in your life such as coming of age, overcoming hardships, and the like. Remember to keep the audience best interest in mind by building a speech that shares a life's lesson.
Follow the sample outline provided under files.
RUBRIC
Outline title, purpose, and thesis statement fully developed.
5 points
Introduction follows stages as shown in sample.
6 points
Transition statements are clearly marked and developed.
6 points
Conclusion fully developed as shown in sample.
5 points
Outline is spelling, grammar, and punctuation error–free.
3 points
TOTAL
25 POINTS
.
The objective of assignment is to provide a power point presentation.docxdennisa15
The objective of assignment is to provide a power point presentation about vaccines including the Flu vaccine and other vaccines in the pediatric population. Your primary goal as an FNP is to educate parents about the importance of vaccination, and understanding their beliefs and preference by being cultural sensitive in regards this controversial topic. This presentation must include at least 13 slides and the following headings: Introduction, Clinical Guidelines EBP per CDC, Population and Risk Factors, Education, Conclusion.
.
The objective of assignment is to provide a power point presenta.docxdennisa15
The objective of assignment is to provide a power point presentation about vaccines including the Flu vaccine in the pediatric population. Your primary goal as an FNP is to educate parents about the importance of vaccination, and understanding their beliefs and preference by being cultural sensitive in regards this controversial topic. This is an individual presentation (not group) and must include a minimum of 8 slides with a maximum of 10 slides. This presentation must include a “Voice Presentation” and the following headings: Introduction, Clinical Guidelines EBP per CDC, Population and Risk Factors, Education, Conclusion.
.
The nursing metaparadigm offers insights concerning the nature in wh.docxdennisa15
The nursing metaparadigm offers insights concerning the nature in which the nursing profession should be set up and properly functioning. From the nursing perspective, the concept of the metaparadigms consists of four attributes including the patient as an entity, the patient’s environment, the well-being and health of the patient, and the responsibilities of the nurse (Alimohammadi et al., 2014). These four metaparadigms have a direct impact on the implementation of culturally proficient nursing care. With the advancement in technology and ease of patient access to quality care, there is an increased number of nurse-patient relations. The nurse has to ensure the provision of patient-centered care while focusing on the nursing metaparadigms.
The aspect of culturally proficient nursing care makes use of the attitudes, knowledge, and skills that are in support of the caring of patients that originate from various cultures and ethnic backgrounds. In this accord, culture is able to directly influence the nature of the health care practice and the manner in which the healthcare provider, as well as the patient, perceives the diseases or illness (Lee, & Fawcett, 2013). Based on the theoretical frameworks that the nursing metaparadigm offers together with the assumptions, conceptual models, and propositions, the nurses can be in a position to comprehend the cultural aspect of patient care and act accordingly.
The Person Component
The patient, as the receiver of the care, makes up the person component aspect of the nursing metaparadigm. Other connections with the person component include close friends, family, and other social groups that are important to the patients and their overall well-being (Bahramnezhad et al., 2015). In this metaparadigm, nurses are able to comprehend the patient as and individuals and how they relate with others in society. The nurses are also able to understand the cultural aspects of the patient through an inquiry from the patient and close relatives in the event of patients who are not in a position to speak for themselves or make sound decisions.
The Environment Component
This concept of the nursing metaparadigm is focused on the natural and physical surrounding that impacts the day to day life of the patient. in order to offer culturally proficient care, it is important for the nurses to have a deep understanding of the patient’s environment, climatic condition, cultures, and other societal elements (Bahramnezhad et al., 2015). Be that as it may, the environment constitutes both internal and external influences that depict the nature in which the patient directly interacts with the surrounding which may or may not affect their health and wellness.
Health Component
While there is easy access to quality health care with the Affordable Care Act, the health component still focuses on the aspect of health care wellness and ease of access. The health component also focuses on the genetic makeup of the patient, social o.
The nursing metaparadigm concept I intend to focus on is person .docxdennisa15
The nursing metaparadigm concept I intend to focus on is person (patient or client). Person refers to a human being composed of needs: physical, intellectual, biochemical, and psychosocial (McEwen & Wills, 2019, p. 42). The person is an open system and is "greater than the sum of his or her parts" (McEwen & Wills, 2019, p. 42). The concept of person is most often the center of the nurse's attention and is the recipient of care.
Regarding my personal and professional experiences, I have two very different definitions of what constitutes a client. In my pediatric cardiac ICU background, the person, or patient, was generally an infant with a cardiac defect. Currently, in my practice at a medical spa, my clients range from adolescents to the elderly, focusing on physical appearance. My focus on the "person" differs significantly from my previous role to my current role.
In 1972, B. Neuman's theory stated that stress reduction is the nursing practice system model's goal (
Nursing Theories - Overview
, 2020). Her theory defines "person" as the combination of the interrelationships between physiologic, psychological, sociocultural, developmental, and spiritual variables (McEwen & Wills, 2019, p. 43). Similarly, D. Johnson's 1968 nursing theory's goal is to reduce stress, as she focuses on how stressors affect illness adaptability (
Nursing Theories - Overview
, 2020). Johnson's definition of "person" is a behavioral system with purposeful ways of behaving that connect them to their environments (McEwen & Wills, 2019, p. 43). Both Neuman and Johnson focus on decreasing stress as a way to care for patients. However, their definitions of person vary. Johnson implies that a patient's link to their environment is of most importance, and Neuman believes a person is a more integrated whole that can be singular or plural (as in a community, group, or entire social system) (McEwen & Wills, 2019, p. 43).
Within my years of practice in nursing, my definition of person, client, or patient has altered. In my earlier career, I would have been more aligned with Neuman's theory. My patients, albeit more complex, needed more from me as their nurse from more than just an environmental standpoint; I correlated their needs as a holistic being. I was focusing on not just the patient but their support system as well. As a nurse in a med spa, my clients have patterned, repetitive concerns that influence their perceived environment in different ways, which coincide more with Johnson's theory
.
The nurse proceeds to palpate the lymph nodes. Which lymph nodes.docxdennisa15
The nurse proceeds to palpate the lymph nodes. Which lymph nodes are located in the neck?
1. Please indicate all the Lymph nodes in the neck
2. What is the Rationale for performing this assessment.
3. When performing the physical examination, what objective data should the nurse inspect and palpate for the head and neck?
4. What is the Rationale for question # 3
.
The number of American telecommuters is expected to increase by 29 m.docxdennisa15
The number of American telecommuters is expected to increase by 29 million telecommuters or 43% of the workforce by 2016 as more work gets performed from remote locations. Mobile workers can work from wherever they are and use the IT / IS technology necessary to access co-workers, company or corporate infrastructure, intranets, and other information sources.
Write a two to three (2-3) page paper in which you:
Describe the impact of telecommuting on energy conservation, IT operational costs, “green computing”, and shifts in telecommuters’ lifestyles (e.g., parents, disability, etc.).
Describe how the business infrastructure should be designed so that employees will be able to continue to perform business functions in the event of a disaster (i.e., storm, hurricane, or earthquake) that destroys or makes it impossible to access the buildings.
Determine four (4) advantages and four (4) disadvantages of telecommuting from an IT manager’s point of view. Elaborate on each advantage and disadvantage.
Examine the effect of Bring Your Own Device (BYOD) to the IT infrastructure with regard to security, IT support, knowledge, and data management, green computing, and telecommuting.
Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
.
The number of Americans ages 65 and older is projected to nearly d.docxdennisa15
The number of Americans ages 65 and older is
projected to nearly double
from 52 million in 2018 to 95 million by 2060, and the 65-and-older age group’s share of the total population will rise from 16 percent to 23 percent.
[1]
The older population is becoming
more racially and ethnically diverse
. Between 2018 and 2060 the share of the older population that is non-Hispanic white is projected to drop from 77 percent to 55 percent.
[2]
Despite the increased diversity in the older adult population, the more rapidly changing racial/ethnic composition of the population under age 18 relative to those ages 65 and older has created a
diversity gap
between generations.
Older adults are working longer.
By 2018, 24 percent of men and about 16 percent of women ages 65 and older were in the labor force. These levels are projected to rise further by 2026, to 26 percent for men and 18 percent for women.
What does this mean for our society? 52 million people are 65 and over. How are we treating the older population? What are the social implications of people living past 65?
add a sociological reference
.
The number of American telecommuters is expected to increase by .docxdennisa15
The number of American telecommuters is expected to increase by 29 million telecommuters, or 43% of the workforce, by 2016 as more work gets performed from remote locations. Mobile workers can work from wherever they are and use the IT / IS technology necessary to access co-workers, company or corporate infrastructure, intranets, and other information sources.
Write a two to three (2-3) page paper in which you:
Describe the impact of telecommuting on energy conservation, IT operational costs, “green computing,” and shifts in telecommuters’ lifestyles (e.g., parents, disability, etc.).
Describe how the business infrastructure should be designed so that employees will be able to continue to perform business functions in the event of a disaster (e.g., storm, hurricane, or earthquake) that destroys or makes it impossible to access the buildings.
Determine four advantages and four disadvantages of telecommuting from an IT manager’s point of view. Elaborate on each advantage and disadvantage.
Examine the effect of Bring Your Own Device (BYOD) to the IT infrastructure with regard to security, IT support, knowledge, and data management, green computing, and telecommuting.
Use at least three quality resources in this assignment.
Note:
Wikipedia and similar websites do not qualify as quality resources.
.
The noun phrase introducers of npChapter 4the noun phr.docxdennisa15
The noun phrase: introducers of np
Chapter 4
the noun phrase:
introducers of NP
Determiners
Numerals
Quantifiers
Quantity without Q
Possessive NPs
WH- words
The noun phrase:
Introducers of np
Determiners
Encode:
Definiteness
Indefiniteness
Number
Proximity (closeness)
(Questions: see 6: WH- determiners)
determiners
Definiteness:
A definite noun (phrase) is known to both speaker and hearer
Determiners
Definiteness
Example 1:
Context: Ann walks in and says to Bob:
“The student is outside.”
Bob assumes from Ann’s phrasing that she is referring to someone specific, and that he should know which student she means. (He has to use non-linguistic sources to figure out which student it is.)
Determiners
Definiteness
Example 2:
Same context: Ann walks in and says to Bob:
“The President is on TV right now.”
Bob assumes from Ann’s phrasing that she is referring to someone specific, and that he should know which person she means. (He has to use non-linguistic sources to figure out who it is—in this case, it’s probably not difficult.)
Determiners
Indefiniteness
An indefinite noun (phrase) is NOT assumed to be known to speaker and hearer.
Determiners
Indefiniteness
Example 1:
Context: Ann walks in and begins to talk to Bob:
“A student is outside.”
Bob assumes she will explain which student is outside.
Determiners
Indefiniteness
Example 1:
Context: Ann walks in and begins to talk to Bob:
“A president is outside.”
Bob assumes she will explain which president is outside. Since there aren’t usually lots of Presidents to choose from, this sentence is odd.
determiners
Number
Distinguish singular/plural
Examples:
A letter
Some letters / some writing
This letter
These letters
determiners
Proximity
Distinguish closeness to speaker or someone else; demonstratives
Examples:
This letter (close to speaker)
That letter (close to someone else)
These letters
Those letters
determiners
Summary
Encode:
Definiteness/indefiniteness
Number: singular/plural
Proximity to speaker/other
numerals
Encode:
Number
Indefiniteness
Sequence (order)
numerals
Number
Examples:
One frog jumped in the pond.
Ten frogs jumped in the pond.
numerals
Indefiniteness
Example:
Two frogs jumped in the pond.
The speaker and hearer are not assumed to know which particular frogs jumped in the pond, just how many did it.
numerals
Indefiniteness
Compare:
Two frogs jumped in the pond.
Those two frogs jumped in the pond.
numerals
Sequence (order)
Example:
The first frog jumped in the pond.
The second frog jumped in the pond.
Tells which frog based on its order relative to others:
Called ordinal numbers
Numerals:
Phrase structure rule
NP
Det
Num
N
the
second
frog
NP (Det) (Num) N
NP
Det
N
a
frog
NP
N
frogs
numerals
Summary:
Numerals encode number
Numerals can encode indefiniteness
Numerals can encode order
Phrase Structure Rule:
NP (Det) (Num) N
quantifiers
What quantifiers “do” (in terms of meaning):
Pick out members of a set in ways other .
The notion of solipsism suggests that ones own mind is the only ent.docxdennisa15
The notion of solipsism suggests that one's own mind is the only entity whose existence is certain. That is, solipsism claims that
the only thing that one can claim to know is that one's own mind exists.
While most philosophers don't work on this issue in particular, almost all philosophers agree that solipsism accurately describes an inherent limitation to the human condition.
What do you think? Do philosophers have it right? How do you know?
Looking for thorough responses (i.e., more than 150 words) that thoughtfuly explore these questions.
.
The Norton Sampler the two essays The Sancturay of School and .docxdennisa15
The Norton Sampler the two essays '' The Sancturay of School'' and ''Like Mexican's'' are about the childhood experiences of two very different writers. What personality traits or characteristics do they show through their descriptions in the essay? which of these traits seem to be learned or adopted as a response to their experiences?
.
The non-profit organization (Inspirational Leaders) that you work fo.docxdennisa15
The non-profit organization (Inspirational Leaders) that you work for has received an urgent request to send a team of nurses to Eritrea to provide aid to a village that is grieving a serious earthquake. It is anticipated that your team will spend 2 months there. The city of 1,700 residents that you are serving has suffered 300 casualties, and still over 50 people are unaccounted for. For those found and negatively affected, there are serious injuries that need to be treated. There are other organizations already on location providing water, shelter and food. But the medical teams that they have from other organizations are overwhelmed.
As a team, you will need to write a report in the form of a proposal in Microsoft Word that addresses the following tasks:
Here are the tasks that must be delegated:
• Transportation to city and throughout the city
• Plane, bus, jeep, quads, etc.
• Medical supplies: gloves, sutures, gauze, iodine, etc.
• Acquire via donation, packaging, transport
• Entry into the country
• Passports, visa, etc.
• Financial management
• Budget of $35,000, bank account(s), debit cards
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The Nominal Group Technique (NGT) is a common method of group decisi.docxdennisa15
The Nominal Group Technique (NGT) is a common method of group decision making. The group members will meet to discuss their ideas and all parts of the problem and possible solutions and then the voting is done privately.
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What possible outcomes will result from using the NGT method? How do these outcomes differ from those that could occur if the members voted while all together?
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Describe how the NGT can aid in the organizational change process.
.
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This is part 1 of my Java Learning Journey. This Contains Custom methods, classes, constructors, packages, multithreading , try- catch block, finally block and more.
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UPRAHUL
This Dissertation explores the particular circumstances of Mirzapur, a region located in the
core of India. Mirzapur, with its varied terrains and abundant biodiversity, offers an optimal
environment for investigating the changes in vegetation cover dynamics. Our study utilizes
advanced technologies such as GIS (Geographic Information Systems) and Remote sensing to
analyze the transformations that have taken place over the course of a decade.
The complex relationship between human activities and the environment has been the focus
of extensive research and worry. As the global community grapples with swift urbanization,
population expansion, and economic progress, the effects on natural ecosystems are becoming
more evident. A crucial element of this impact is the alteration of vegetation cover, which plays a
significant role in maintaining the ecological equilibrium of our planet.Land serves as the foundation for all human activities and provides the necessary materials for
these activities. As the most crucial natural resource, its utilization by humans results in different
'Land uses,' which are determined by both human activities and the physical characteristics of the
land.
The utilization of land is impacted by human needs and environmental factors. In countries
like India, rapid population growth and the emphasis on extensive resource exploitation can lead
to significant land degradation, adversely affecting the region's land cover.
Therefore, human intervention has significantly influenced land use patterns over many
centuries, evolving its structure over time and space. In the present era, these changes have
accelerated due to factors such as agriculture and urbanization. Information regarding land use and
cover is essential for various planning and management tasks related to the Earth's surface,
providing crucial environmental data for scientific, resource management, policy purposes, and
diverse human activities.
Accurate understanding of land use and cover is imperative for the development planning
of any area. Consequently, a wide range of professionals, including earth system scientists, land
and water managers, and urban planners, are interested in obtaining data on land use and cover
changes, conversion trends, and other related patterns. The spatial dimensions of land use and
cover support policymakers and scientists in making well-informed decisions, as alterations in
these patterns indicate shifts in economic and social conditions. Monitoring such changes with the
help of Advanced technologies like Remote Sensing and Geographic Information Systems is
crucial for coordinated efforts across different administrative levels. Advanced technologies like
Remote Sensing and Geographic Information Systems
9
Changes in vegetation cover refer to variations in the distribution, composition, and overall
structure of plant communities across different temporal and spatial scales. These changes can
occur natural.
বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
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The New Meaning of Generally AcceptedAccounting Principles.docx
1. The New Meaning of Generally Accepted
Accounting Principles
Geary, K Michael . Ohio CPA Journal ; Columbus
Vol. 51, Iss. 4, (Aug 1992): 30.
ProQuest document link
ABSTRACT
Statement on Auditing Standards (SAS) 69 states that a
generally accepted accounting principle (GAAP) is a
technical accounting term that encompasses the conventions,
rules, and procedures necessary to define accepted
accounting practice at a particular time. SAS 69 defines a
hierarchy of established accounting principles. Faced
with a decision concerning the acceptability of an accounting
principle used by a client, the practitioner is
supposed to consult this hierarchy for the highest level of
support. SAS 69 includes 2 separate but parallel
hierarchies - one for nongovernmental entities and one for state
and local government entities. The issuance of
2. SAS 69 should provide sufficient reason for certified public
accountants to reestablish their understanding of what
constitutes a GAAP and make sure that their professional
libraries include the necessary technical materials.
DETAILS
Subject: Statements on auditing standards; GAAP; Financial
statements; Auditing standards;
Accounting policies; SAS 69
Location: US
Classification: 9190: US; 4130: Auditing
Publication title: Ohio CPA Journal; Columbus
Volume: 51
Issue: 4
Pages: 30
Number of pages: 2
Publication year: 1992
Publication date: Aug 1992
Publisher: Ohio Society of Certified Public Accountants
Place of publication: Columbus
3. Country of publication: United States, Columbus
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Publication subject: Business And Economics--Accounting
ISSN: 07498284
Source type: Trade Journals
Language of publication: English
Document type: PERIODICAL
Accession number: 00639964, 00370267
ProQuest document ID: 214823622
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4. Copyright: Copyright Ohio Society of Certified Public
Accountants Aug 1992
Last updated: 2014-05-24
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Meaning of Generally Accepted Accounting Principles
Case Study-2-Assignment
Prepare an in-depth analysis of four case studies during the
semester. Here are some guidelines:
· This is an individual assessment, which is a part from your
course score. It requires effort and critical thinking
· Answer all the questions listed below for each case.
· The ‘answers’ to the questions are best formulated by
reviewing the case and the reading materials up and including
the current week in the course.
· The questions are worded to help you apply the readings to the
case, so don’t limit yourself to the case’s terminology and
perspective. The best analysis will abstract the case content by
5. applying the reading materials to draw broader lessons about the
material
Case Study 2: Vail Ski Resorts Goes High-Tech for High Touch
1) List and describe the types of systems described in this case
study.
2) How do these systems improve the operation of the business?
3) How do these systems support decision-making? Identify 3
different decisions that can be supported by these systems.
Case Study 2: Vail Ski Resorts Goes High-Tech for High Touch
Vail Ski Resort is the largest single mountain ski resort in the
United States, with 5,289 acres of the most diverse and
expansive skiing in the world. To its world-class skiing, Vail is
also trying to offer world-class customer care—fine dining; spas
and ski valets ready to haul, stow, and retrieve your equipment;
heated boots; and hand-warming packets. Vail's season pass is a
top value industry-wide; its free PEAKS Rewards membership
program further inculcates customer loyalty. Members can the
most economical lift tickets online, link the PEAKS card to a
credit card, and accumulate points that can be redeemed free lift
tickets, ski school lessons, and various discounts.
In 2012, Vail Ski Resort installed the fastest, highest capacity
gondola in the United States. Seating ten people per cabin, and
with an uphill speed of 1200 feet per minute, the state-of-the-art
gondola carries 3600 skiers per hour while decreasing ride time
from 9 to 7.5 minutes. Heated seats and Wi-Fi access make it
one of the world's most customer-friendly ski lifts as well.
Long lift lines have always created a big headache for skiers. In
6. the past, the only way to gauge the flow of the crowd was to ask
lift operators or check on bulletin boards at the bottom of the
lifts. Now Vail skiers are able to obtain accurate up-to-the
minute lift line information by using social networking,
streaming alerts, and the resort's own Witter account. Slope
congestion can be alleviated by offering special pins or prizes
to coax guests to move to a different slope. Guests can be
directed to on-mountain dining locations at lunch time.
Vail now uses radio frequency identification (RFID) lift tickets
and ski passes. Part of the EpicMix social media program, the
tickets and passes are scanned at the base of each lift so that
skiers and snowboarders can track how many lifts they ride and
the vertical feet ascended each day. The scanned data are
automatically transferred to an EpicMix application which can
be accessed from either a smartphone or a computer. The basic
program is free and confers various pins and virtual awards
based on user statistics. For example, you earn the
"Connoisseur" pin after 75 lifts and the "Over the Moon" pin
when you surpass 350,000 vertical feet skied. After you create
your EpicMix account, you can view and share stats by linking
to your Facebook and Twitter accounts.
The EpicMix Racing program provides additional fun. At one of
six race courses, you can compete against friends and family,
all skiers, and even 2010 Olympic women's downhill gold
medalist Lindsey Vonn. At the beginning of each season, the
four-time overall World Cup champion establishes a course time
for race courses at Vail, Beaver Creek, Breckenridge, Keystone,
Heavenly and Northstar. Race pros then ski the courses to
establish their "seconds behind Lindsey." 'lb factor in changing
course conditions, every day one of the race pros skis each
course and uses his or her "seconds behin Lindsey" to determine
a course time for Vonn on that particular day. When you ski a
course, your actual time is automatically recorded and then
adjusted for gender, age, and discipline. Snowboarders,
7. telemark skiers, and adaptive skiers with disabilities and special
needs can also participate. Scores are computed based on each
skier's "seconds behind Lindsey," and gold, silver, and bronze
medals are awarded to the top three daily. Race results and
leaderboards are accessed on EpicMix.com or the EpicM mobile
app, available for Apple and Android smartphones. Your
dashboard tallies your Lindsey
Vonn Race Series points, EpicMix Racing medals, total number
of resort check-ins, total days on a mountain, vertical feet, pins
earned, and number of EpicMix photos taken.
The six race course mountains are staffed by 140 professional
photographers. Photos are automatically identified and uploaded
by scanning the intelligent chip embedded in the skier's lift
ticket. Photos can be captioned and shared free on Facebook and
Twitter, or you can purchase prints at a number of locations,
including, of course, the Children's Ski Schools. You can also
purchase a $30.00 season package for unlimited downloads of
all images taken at all locations and print them out later. All of
these amenities turn a ski vacation into an "experience" that can
be shared with family and friends, increasing emotional
attachment and promoting customer retention.
Still, to ensure that it is fully leveraging the wealth of customer
data it collects, Vail Ski Resorts' parent company Vail Resorts
implemented SAS Customer Intelligence software. Customer
data were previously collected and stored in a number of
unrelated systems. Now, the data are compiled in a single
database that includes all customer points of contact, allowing a
complete picture of customer habits and preferences to emerge.
Rather than one or two versions of a marketing campaign, Vail
Resorts now runs 30 to 50, targeted to specific groups. In the
future, the company expects to expand to hundreds or even
thousands of personalized, individual communications.
SAS predictive analytics will help Vail Resorts to identify guest
motivations and anticipate customer desires, while customer
8. segmentation models identify profitable segments to which they
might be steered. Vail Resorts plans to further personalize its
engagement with its guests and enrich their mountain
experiences before they have even begun.
Answer
Divergences between rules of tax accounting and
generally accepted accounting principles
Anonymous . Journal of Accountancy (pre-1986) ; New York
Vol. 97, Iss. 000001, (Jan 1954): 93.
ProQuest document link
DETAILS
Publication title: Journal of Accountancy (pre-1986); New York
Volume: 97
Issue: 000001
Pages: 93
Number of pages: 17
Publication year: 1954
9. Publication date: Jan 1954
Publisher: American Institute of Certified Public Accountants
Place of publication: New York
Country of publication: United States, New York
Publication subject: Business And Economics--Accounting
ISSN: 00218448
Source type: Scholarly Journals
Language of publication: English
Document type: PERIODICAL
ProQuest document ID: 198219503
Document URL:
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Copyright: Copyright American Institute of Certified Public
Accountants Jan 1954
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10. LINKS
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Last updated: 2014-05-19
Database: ABI/INFORM Collection
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sid=ProQ:ProQ:abiglobal&atitle=Divergences%20between%20r
ules%20of%20tax%20accounting%20and%20generally%20acce
pted%20accounting%20principles&title=Journal%20of%20Acco
untancy%20(pre-1986)&issn=00218448&date=1954-01-
01&volume=97&issue=000001&spage=93&au=Anonymous&isb
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1986)&btitle=&rft_id=info:eric/&rft_id=info:doi/
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between rules of tax accounting and generally accepted
accounting principles
SOME ISSUES ABOUT THE TRANSITION FROM
U.S. GENERALLY ACCEPTED ACCOUNTING
PRINCIPLES (GAAP) TO INTERNATIONAL
FINANCIAL REPORTING STANDARDS (IFRS)
Elena, Hlaciuc; Catalina, Mihalciuc Camelia; Stefana, Cibotariu
Irina; Niculina, Apetri Anisoara . Annales
11. Universitatis Apulensis : Series Oeconomica ; Alba Iulia
Vol. 11, Iss. 1, (2009): 275-289.
ProQuest document link
ABSTRACT
The ultimate goal of a move to IFRS International Financial
Reporting Standards is the rigorous application of a
single set of global accounting standards, which will produce
high-quality, transparent financial information to help
investors and other stakeholders in the world's capital markets
make economic decisions based on financial data
that is easily and directly comparable. Many believe this is a
necessity for a vital and growing global economy. In
this article the authors tried to present the issue of convergence
between US Generally Accepted Accounting
Principles (GAAP) and International Financial Reporting
Standards (IFRS). Adoption of IFRS (International
Financial Reporting Standards) in the US undoubtedly would
mark a significant change for many US companies. It
would require a shift to a more principles-based approach, place
far greater reliance on management (and auditor)
judgment, and spur major changes in company processes and
systems. [PUBLICATION ABSTRACT]
12. FULL TEXT
Headnote
ABSTRACT: The ultimate goal of a move to IFRS International
Financial Reporting Standards is the rigorous
application of a single set of global accounting standards, which
will produce high-quality, transparent financial
information to help investors and other stakeholders in the
world's capital markets make economic decisions
based on financial data that is easily and directly comparable.
Many believe this is a necessity for a vital and
growing global economy. In this article the authors tried to
present the issue of convergence between US Generally
Accepted Accounting Principles (GAAP) and International
Financial Reporting Standards (IFRS). Adoption of IFRS
(International Financial Reporting Standards) in the US
undoubtedly would mark a significant change for many US
companies. It would require a shift to a more principles-based
approach, place far greater reliance on management
(and auditor) judgment, and spur major changes in company
processes and systems.
Key words: IFRS, US - GAAP, SEC, IASB, FASB
JEL codes: M48 - Government Policy and Regulation
Introduction
13. Importance of International Financial Reporting Standards
(IFRS) has greatly increased in recent years.
International Financial Reporting Standards (IFRS) is a set of
accounting standards, developed by the International
Accounting Standards Board (IASB), an independent accounting
standards body, that differ from the United States
Generally Accepted Accounting Principals (GAAP) that
historically have been used for reporting financial
information in domestic public and private companies and other
organizations. Today, more than 100 countries
use IFRS for public reporting purposes. The SEC has issued a
roadmap as to how US companies will forge ahead
to report using IFRS. Both IFRS and US GAAP share the same
general principles and conceptual framework.
However, US GAAP is more rules based, whereas IFRS is more
principles based. Perhaps the greatest difference is
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that IFRS provides much less overall detail. Most of the
changes that will be encountered between US GAAP and
IFRS will not necessarily impact the reporting at the hotel
property level. US companies will spend between 0.125%
14. and 0.13% of their revenue on making the transition. The SEC
will be deciding in 2011 whether to require US
companies to report using IFRS. Taking a proactive approach
and making preparations for a change would be a
prudent decision. A change from US GAAP to IFRS is not only
a financial reporting one, but in many cases a
change in management as key performance indicators, employee
and executive compensation, investor relations
and legal issues will potentially be affected by the change.
Revolutionary changes are occurring in accounting and financial
reporting in the US and other countries. Until
2008, the Securities and Exchange Commission (SEC) in the US
required for financial reporting by companies
traded in the US stock market, that their financial statements
either follow US generally accepted accounting
principles (GAAP) or be reconciled to US GAAP. The SEC did
not accept the International Financial Reporting
Standards (IFRS) issued by the International Accounting
Standards Board (IASB). Until the early 2000s, securities
commissions in most countries took the same basic position
toward IFRS as did the United States SEC.
Starting in the mid-2000s, a series of events, notably in the US
and European Union, greatly advanced worldwide
15. acceptance of IFRS. This study seeks to determine whether
IFRS are an unstoppable juggernaut for US and global
financial reporting. To make this determination, a review of
recent events includes a longitudinal analysis of
adoption of IFRS by the countries of the world. Also,
perspectives about IFRS held by top corporate accounting
officers among Fortune 500 business firms will be obtained and
evaluated.
Reasons to move to a global IFRS
Many questions are linked by the transition from the Generally
Accepted Accounting Principles (GAAP) to IFRS.
- Why are IFRS attractive as the ultimate global standard?
The IFRS are developed by the International Accounting
Standards Board (IASB) in London in collaboration with
the Financial Accounting Standards Board (FASB) and other
global accounting standard-setters. As principles-
based system, IFRS can allow issuers to reflect more fully the
economic substance of transactions that may be
unique to their industry, compared with a prescriptive, rules-
based system such as GAAP.
- Are there potential disadvantages to converging standards?
Some investors feel a principles- based system provides too
much management discretion. Others fear losing
16. information contained in extensive disclosures under US GAAP
and SEC regulations. Also, IFRS is arguably less
robust than GAAP in areas such as lease accounting, principles
of revenue recognition and accounting for the
insurance industry.
Second, implementation could confuse investors if it were
phased in. The SEC proposals allow certain US firms to
use either IFRS or GAAP or both, forcing investors and issuers
to learn and apply two standards simultaneously.
The SEC proposal may also mistakenly assume that firms will
voluntarily commit to significant IFRS development
costs in the absence of a mandated deadline. Another potential
downside is that IFRS may not in fact improve
international comparability if firms and regulators apply
principles- based standards differently. There is no single
enforcement body to ensure IFRS are interpreted and applied in
a uniform fashion.
A move to IFRS also presents a tremendous opportunity.
Moving to an entirely new accounting structure
ultimately might enable companies to streamline reporting
processes and reduce compliance costs. While there
are differences between US GAAP and IFRS, the general
principles, conceptual framework and accounting results
between them are often the same, or similar, for most
17. commonly-encountered transactions. With IFRS likely to
arrive in the near - rather than distant - future, affected utilities
should consider the implications of IFRS and start
planning now. The resources needed and the impact on the
organization will be far-reaching. But with proper
strategic planning, benefits can be substantial.
The US Securities and Exchange Commission (SEC) have
proposed rules ultimately requiring US issuers to use
International Financial Reporting Standards (IFRS) rather than
the US Generally Accepted Accounting Principles
(GAAP).
- Does a global accounting standard benefit investors?
As markets become increasingly global, it is important to be
able to rely on financial reporting and make
international comparisons, both of which require a uniform set
of high quality accounting standards. Investors also
stand to benefit from a single financial "language" with which
to interpret corporate activities. IFRS is currently
required for all domestic listed entities in 85 jurisdictions and
allowed in 113 jurisdictions.
- What are the possible barriers to implementing uniform global
standards?
18. First, local standards such as US GAAP need to be harmonized
with IFRS. The IASB and FASB are working on a
project to last until the end of 2011 to address the most
important technical differences.
Second, implementation could confuse investors if it were
phased in. The SEC proposals allow certain US firms to
use either IFRS or GAAP or both, forcing investors and issuers
to learn and apply two standards simultaneously.
The SEC proposal may also mistakenly assume that firms will
voluntarily commit to significant IFRS development
costs in the absence of a mandated deadline. A further challenge
to convergence is politicization of local
standards. For example, the application and enforcement of
IFRS standards in the European Union, which adopted
IFRS in 2005, have been varied and influenced by local
interests.
- Is there an alternative approach for implementation?
Another approach is to complete the harmonization of GAAP
and IFRS before converging to a single standard and
selecting a single adoption date for all firms. This approach
could reduce confusion and complexity. It might also
provide time for investors and stakeholders to move smoothly to
a single standard.
19. It is also important to establish a "road map" for ultimate
adoptions for issuers, investors and other stakeholders.
- How will investors adapt to converged standards?
Learning a new "language" for accounting and reporting
certainly requires time and effort for education. Investors,
issuers, auditors and regulators will all need to learn and
understand IFRS, which will require training across the
board.
- What is a reasonable time frame for adoption?
Requiring adoption by 2014 is reasonable. It allows time for
reporting standards to converge and for the necessary
training and education. An interim period of allowing a dual
system now rushes matters. Given the vital role
financial statements play in the world's capital markets, it is
advisable to adopt a more deliberate, less
experimental pace that ensures everyone is well- prepared. In
April 2004, FASB and the International Accounting
Standards Board created a joint project on financial statement
presentation. The project is part of the
memorandum of understanding between the two bodies that set
out a road map for convergence between IFRS
and US GAAP. The goal is to create a common standard for the
form, content, classification, aggregation and
20. display of line items on the face of financial statements. The
project applies to public and private business entities,
but not to nonbusiness entities such as not-for-profits or
defined-benefit plans.
The question is seemingly no longer "if," but "when" the United
States will adopt International Financial Reporting
Standards (IFRS). In a forum held this past June at Baruch
College in New York City, the Financial Accounting
Standards Board (FASB) addressed the question of when and
how the United States would move to IFRS.
Participants in the forum included top officials from the FASB,
the Financial Accounting Foundation (FAF), the
Financial Accounting Standards Advisory Council (FASAC), the
International Accounting Standards Board (IASB),
the SEC, the AICPA, the Financial Executives Institute (FEI),
the Institute of Management Accountants (LMA), the
CFA Institute, the Public Company Accounting Oversight Board
(PCAOB), and the American Accounting
Association (AAA). Additional participants included individuals
representing financial statement users, small and
large companies, auditors, regulators, educators, and other
parties that might be affected if there is a move from
U.S.
Among the issues discussed at the forum included: whether U.S.
21. GAAP should ultimately converge with IFRS and,
if so, how and when; how to pre- pare the United States for a
shift to IFRS; accounting education and pro- fissional
certification; regulatory and tax issues; the potential effects on
private companies and not-for-profit entities; and
the future role of the FASB. SEC Chief Accountant Conrad
Hewitt said that one important issue would be whether
U.S. companies should have the option of moving to IFRS, and
whether this option should be phased in over time,
with large companies going first Several groups, such as the
CFA Institute, opposed allowing U.S. companies the
option to adopt IFRS, preferring a mandate from the SEC
instead. Others recommended giving companies a five-
year lead time to adopt IFRS, with a single deadline for
adoption. Finally, other groups, such as the IMA, favored the
optional approach, but with a shorter, three-to-five-year
timeframe to get acquainted with IFRS.
Subsequent to the roundtable, in August 2008, the SEC voted to
publish a proposed road map that could lead to
the use of IFRS by U.S. companies beginning in 2014. The SEC
plans to make a decision in 2011 on whether the
adoption of IFRS is in the public interest and would benefit
investors. The proposed multiyear plan sets out several
22. milestones that, if achieved, could lead to the use of IFRS by
U.S. companies in their SEC filings.
- What Has Prompted Convergence Toward IFRS?
The issue of convergence between U.S. GAAP and IFRS has
been developing for some time. Issued in August
2007, SEC Concept Release 33-8831 addressed the question of
whether U.S. companies should be allowed to
prepare their financial statements in accordance with IFRS. An
SEC ruling issued in December 2007 allows foreign
private companies to use IFRS without reconciling to U.S.
GAAP. These actions have raised the importance and
the urgency of this issue. FASB Chairman Bob Herz stated at
the June 2008 FASB forum that the organization
faces the challenge of "riding two horses at the same time" until
convergence is achieved. To avoid this problem,
the FASB has indicated in its response to the SEC concept
release that investors would be better served if all U.S.
public companies were to use a common set of international
accounting standards, which would be best
accomplished by moving U.S. companies toward IFRS. Thus, a
move to LFRS appears to be inevitable.
Nevertheless, there are a number of challenges to the adoption
of IFRS, and thus the question arises:
23. - What's the hurry? Shouldn't we take the time to get it right?
As various countries around the world have moved to IFRS, one
particular issue often comes up:
- What about small and medium-sized enterprises?
The IASB has addressed this matter by issuing an exposure draft
of a proposed IFRS for small and medium-sized
enterprises (SME). The IASB also develops and publishes a
separate standard intended to apply to the general
purpose financial statements of, and other financial reporting
by, entities that in many countries are referred to by
a variety of terms, including small and medium-sized entities
(SME's), private entities, and non-publicly
accountable entities. That standard is the International Financial
Reporting Standard for Small and Medium-sized
Entities (IFRS for SME's).
Small and medium-sized entities are entities that:
- do not have public accountability, and
- publish general purpose financial statements for external
users. Examples of external users include owners who
are not involved in managing the business, existing and
potential creditors, and credit rating agencies.
On July 2009 the International Accounting Standards Board
(IASB) issued an International Financial Reporting
24. Standard (IFRS) designed for use by small and medium-sized
entities (SME's). The standard is a result of a five-
year development process involving extensive consultation with
SME's worldwide.
The IFRS for SME's responds to strong international demand
from both developed and emerging economies for a
rigorous and common set of accounting standards for smaller
and medium-sized businesses that is much simpler
than full IFRS's. In particular, the IFRS for SME's will:
- provide improved comparability for users of accounts;
- enhance the overall confidence in the accounts of SME's;
- reduce the significant costs involved of maintaining standards
on a national basis;
- also provide a platform for growing businesses that are
preparing to enter public capital markets, where
application of full IFRS's is required.
The IFRS for SME's is separate from full IFRS's and is
therefore available for any jurisdiction to adopt whether or
not it has adopted the full IFRS's. It is also for each jurisdiction
to determine which entities should use the IFRS for
SME's.
The IFRS for SME's is a self-contained standard of about 230
25. pages tailored for the needs and capabilities of
smaller businesses. Many of the principles in full IFRS's for
recognising and measuring assets, liabilities, income
and expenses have been simplified, topics not relevant to SME's
have been omitted, and the number of required
disclosures has been significantly reduced. To further reduce
the reporting burden for SME's, revisions to the IFRS
for SME's will be limited to once every three years. The IFRS
for SME's even includes its own "framework" in
section 2 Concepts and Pervasive Principles. The IFRS for
SME's only allows, but does not require, its users to
refer to full IFRSs when addressing financial instruments.
In May 2008, the IASB reconsidered the SME exposure draft in
light of comment letters and field tests. Among the
matters decided by the IASB were the following: The title of the
standard will be changed to "International Financial
Reporting Standard for Private Entities," with private entities
being defined as companies that do not have public
accountability (in the United States, essentially a nonpublic
company). Thus, the size of the business will not be a
factor in determining whether a company uses simplified IFRS.
The only deciding factor will be whether the
26. company is private or public.
The standard will be stand-alone, with no reference to the main
body of IFRS. Thus, there would be two categories
of GAAP - one for public companies and one for private
companies. All accounting options in the full set of IFRS
would be available to private entities. The IASB standard will
not address the following topics: lease accounting,
share based payments, segment information, earnings per share,
and interim reporting. Any company with publicly
traded shares would not be allowed to use simplified IFRS.
Any entity whose primary business is holding money on a
fiduciary basis would not be allowed to use simplified
IFRS.
A subsidiary of a company using full IFRS would have to
provide all of the disclosures required by full IFRS.
Simplified IFRS will not prescribe financial statement formats,
titles, subtotals, minimum line items, sequencing, or
note disclosures; however, the standard will require a statement
of comprehensive income.
Unless the requirement to move from US GAAP to IFRS applies
only to publicly traded companies, there will be two
GAAPs: a big GAAP and a little US GAAP financial accounting
standards setters have avoided this problem for
27. more than 50 years. Typically, there is no difference between
GAAP for big companies and GAAP for small
companies. In certain cases, nonpublic companies are exempted
from several GAAP requirements (e.g., earnings
per share and segment reporting), but except for these relatively
limited cases, there are no significant differences
between big GAAP and little GAAP. In contrast, pursuant to
IFRS, there will be an explicit distinction between full
IFRS and the simplified IFRS applicable to private companies.
This may be an inevitable result of moving to IFRS,
but it will be something new to US accounting standards.
Accounting practitioners, regulators, creditors,
educators, and even law court judges will need to adjust their
thinking regarding the idea that GAAP will no longer
mean "generally accepted" accounting principles. Instead, there
will have to be an explanation concerning which
set of accounting principles applied in a particular case, not-for-
Profit and Governmental Entities.
While some countries have decided that IFRS should apply to
not-for-profit organizations, IFRS is not actually
intended to apply to such entities. If the SEC mandates that US
companies move to IFRS, there will probably be no
similar requirement that not-for-profits move to IFRS.
Therefore, most not-for- profits will not make the switch. As
28. in the case of small and medium-sized businesses, there will be
a different type of GAAP for not-for-profit
organizations. Also, there is no IFRS for governmental entities,
even though in some countries, such as Australia
and the United Kingdom, there has been an effort to implement
IFRS for both not-for-profit and governmental
entities. If the SEC requires U.S. public companies to move to
IFRS, this would not change the status of the
Governmental Accounting Standards Board (GASB) or GASB's
responsibility to set GAAP for governmental entities.
The previous coordination among the staffs of the FASB and the
GASB has led to improvement in accounting for
both not-for-profit entities and governmental entities. If the
FASB is no longer responsible for setting U.S. GAAP,
the question arises whether GAAP for not-for-profits will
continue to be established by the FASB. One vision of the
future would be a tripartite division of GAAP-IFRS for publicly
traded companies, simplified GAAP for small and
medium-sized companies, and another sort of GAAP for not-for-
profit and governmental entities. In essence, there
would no longer be a uniform concept of GAAP, but a GAAP as
applied to different types of entities.
- What about tax issues?
29. There are a number of differences between IFRS and U.S.
GAAP that may materially affect financial reporting and
tax planning. Some examples include: revenue recognition,
lease accounting, asset impairments, financial
instruments, hedging activities, and stock-based compensation.
U.S. tax law does not necessarily correspond with
U.S. GAAP. A move to IFRS will therefore require an analysis
of tax implications, including a determination whether
making the tax method conform to the book method will even be
allowed. Tax accounting methods do not
automatically change because the financial accounting method
changes. The consent of the IFRS commissioner
must often be obtained in order to change an accounting
method.
While not the most important conceptually, perhaps the stickiest
problem deals with last-in, first-out (LIFO)
accounting. Simply put, under IFRS, companies are prohibited
from using LIFO. But under US law, US companies
must use LIFO in their published and audited financial
statements to obtain the tax benefits of LIFO. The Financial
Accounting Standards Board and the US Securities and
Exchange Commission are fully aware of this problem and
are taking steps to mitigate it. One suggestion would be for
Congress to change the tax law and permit use of LIFO
30. for taxes and repeal the conformity requirement. Under both US
GAAP and IFRS all research costs must be
expensed as incurred. Development costs, however, can be
capitalized under IFRS if they meet the criteria for an
intangible asset. With respect to valuation-related issues,
adoption of IFRS will probably require a new mindset by
financial executives regarding reported income
Last in, first out (LIFO) accounting will be a thorny issue: IFRS
does not permit LIFO, but U.S. tax law requires LIFO
accounting for financial reporting purposes, if LIFO is elected
for tax purposes. Thus, unless the LIFO conformity
requirement is changed through federal legislation, U.S.
companies using LIFO will face a tax liability if they move
to IFRS.
Conversion to IFRS is also likely to have an impact on tax
planning and cash repatriation from foreign subsidiaries.
There will be implications for foreign tax credit and Subpart F
calculations. There will also be an impact on
earnings and profits computations in order to maintain
consistency with accounting methods. The ability to make
distributions from foreign affiliates may also be affected to the
extent that IFRS results in a change in the
distributable reserves of a subsidiary. In countries where
31. statutory accounting forms the basis for defining debt
versus equity for purposes of calculating allowable deductions
for interest and dividend distributions, the use of
financing structures will need to be reviewed. In addition, in
some countries, the characterization of a transaction
as a lease depends upon the accounting for tax purposes. The
use of fair value measurements is also central to
IFRS. For example, under IFRS, companies can elect to measure
property and equipment at fair value, and financial
instruments are required to be carried at fair value. These
measurement concepts can have a significant impact on
debt-to-equity and other balance- sheet ratios, resulting in
limitations on the deductibility of interest. Another issue
involves the question of uncertain tax positions. The IASB has
indicated that it will not adopt FASB Interpretation
48 (FIN 48), Accounting for Uncertainty in Income Taxes. This
means that U.S. companies moving to IFRS may
need to change the way they account for uncertain tax positions.
IFRS does not prescribe a specific approach to
measurement of uncertain tax positions, and the IASB has
decided to move to a model with no recognition
threshold for uncertainties and measurement using weighted
average probability. This is less prescriptive than FIN
48.
32. Consequently, adoption of IFRS would cause all current LIFO
reserves - amounting to billions of dollars - to
immediately become taxable income. This alone represents a
prohibitive cost barrier.
The Financial Accounting Standards Board and the U.S.
Securities and Exchange Commission are fully aware of
this problem and are taking steps to mitigate it. One suggestion
would be for Congress to change the tax law and
permit use of LIFO for taxes and repeal the conformity
requirement. Given the need for tax revenue, however, a
more likely scenario would be a 10-year transition. On a
present-value basis, this would mitigate but not eliminate
the problem. No matter how any LIFO spread is handled,
companies currently using LIFO will likely have significant
out-of-pocket cash cost on adopting IFRS. Even 'Fair Value'
Definition Differs When FASB issued its Financial
Accounting Standard No. 1 57, Fair Value Measurements; it
introduced a unique definition of fair value, in part, to
distinguish it from the more common fair-market value
definition. (FEI wrote to FASB, before issuance of SFAS 157
regarding the new definition.). The new definition of fair value
differs from fair-market value in two critical areas.
33. First, rather than dealing with an exchange between a "willing
buyer and willing seller," as used in the fair-market
value definition, fair value requires an exit approach, in other
words, you only look to see what you could sell an
asset for, even if you just bought it yesterday.
The second difference deals with a requirement that the fair
value be determined on the basis of what some
theoretical market participant might pay, rather than looking at
an actual transaction.
The best way to comprehend the significance of these two
points is to consider an art auction. Suppose the
winning bidder for a Picasso painting won at $30 million. The
last competitor had dropped out at $29 million.
Under the SFAS 1 57 fair value definition, the buyer would
have to take an immediate impairment charge of $1
million. He would value the Picasso only at what he could sell it
for; the only market participant has already
signaled that he is unwilling to pay more than $29 million.
The members of the International Accounting Standards Board
so far have not adopted the FASB definition of fair
value and the jury is out as to what will ultimately be decided.
Meanwhile, the definitions of fair value continue to
differ.
34. Challenges of Moving to IFRS
There are some aspects of IFRS which do not exist in US
GAAP. For example, International Accounting Standard
41 (IAS 41) prescribes the accounting treatment for agricultural
and biological assets. IAS 41 requires
measurement of biological assets at fair value, up to the point of
harvest For example: A fish farm in Norway must
apply a fair value standard to its salmon stock during the period
that the salmon grows from an egg to a full-grown
fish ready for harvesting. The increase in value is reported in
the statement of profit and loss. The question is:
What is the value of a halfgrown salmon? Likewise, a forest
products company in Finland must apply a fair value
standard to its trees that grow and reach maturity over a period
of 20 or more years. If the SEC decides to move
from US GAAP to IFRS, it is likely that there will be a certain
degree of confusion and incomprehension regarding
this standard. IFRS is often considered to be more principles-
based than US GAAP. While this may be true, a
principles-based approach poses some problems. For example,
IAS 17, which deals with lease accounting,
specifies that: "At the commencement of the lease term, lessees
shall recognize finance leases as assets and
liabilities in their balance sheets at amounts equal to the fair
35. value of the leased property or, if lower, the present
value of the minimum lease payments, each determined at the
inception of the lease." IAS 17 also specifies that:
"A lease is classified as a finance lease if it transfers
substantially all the risks and rewards incidental to
ownership." There is no specific guidance regarding the
defining characteristics of a lease that "transfers
substantially all the risks and reward incidental to ownership."
Under such a standard, U.S. auditors may find it
difficult to persuade their clients that they must record a lease
as a finance lease.
A difficult transition
While it may not be difficult for a multinational enterprise to
move from US GAAP to IFRS in the near future, a point
echoed by participants in the June FASB forum, small and
medium enterprises, agricultural enterprises, not-for-
profit organizations, and governmental entities may find the
challenge of moving to IFRS to be insurmountable.
One of the results of moving from US GAAP to IFRS for
publicly traded companies may be that, for the first time in
the history of U.S. accounting standards setting, there will be
multiple types of GAAP. This may not be a difficult
problem to deal with, but practitioners, regulators, lenders,
courts, and educators will need to come to grips with
36. the fact that GAAP will no longer be "generally accepted"
accounting principles. Secondly, in certain areas, such as
the fair value measurement of agricultural products, there is
currently no US GAAP in effect.
- What will we make of this change and will it be readily
applied to the U.S. farming industry? Finally, IFRS is
considered to be more principles-based, but in a litigious
environment such as the United States, a principles
based approach may often lead to lawsuits.
- Will U.S. auditors be willing to make firm judgments about
the gray areas of accounting without the authority of
U.S. GAAP standing behind them?
One vision of the future would be a tripartite division of
GAAPIFRS for publicly traded companies, simplified GAAP
for small and medium-sized companies, and another sort of
GAAP for not-for-profit and governmental entities.
IFRS has fewer bright lines and less interpretive and application
guidance than does US GAAP (Generally Accepted
Accounting Principles). Companies will need to consider
carefully the economic substance of their transactions
and then apply the principles embodied in IFRS to that
substance. Arguably, doing so might enable a closer
37. alignment with underlying business objectives. Many financial
professionals in the power and utility industries
today are aware of IFRS, which presently is used or under
consideration in every major financial market around the
world. There is a growing recognition, both in the United States
and internationally, that a single set of high-quality
global accounting standards offers teal benefits. IFRS seems
increasingly likely to provide that single set of
standards.
Literature review
Nations of the world have engaged in global commerce since the
beginning of recorded history. If international
trade occurs, accounting and financial reporting are useful for
recording and reporting the results. Global
operations are becoming more important to all types of business
firms. Many firms are increasing their
international operations and the number of countries in which
they do business. A greater number of business
firms are now providing products and services to customers
around the world.
Information asymmetry between management and external
stakeholders is increased for firms functioning in a
complex environment. Multinational firms carry on business in
38. a more complex environment than strictly domestic
firms (Runyan and Smith 2007). Globalization of business and
capital markets has led to an economic
environment in which uniform procedures for financial
statement preparation would benefit investors, lenders,
financial analysts, accountants, and auditors (Gaspar et al.
2006). Uniformity in accounting standards helps
provide comparability of financial statements among companies
in diverse country locations. The International
Accounting Standards Board (IASB) is endeavoring to develop
harmonized financial accounting standards to
satisfy worldwide demands. Companies engaged in international
business encounter a variety of challenges as a
result of their global operations. Challenges result from
different cultures, language differences, different legal
systems, political differences, different operating environments,
and different accounting and financial reporting
standards. Much past research examines the effect of culture on
accounting and business. Some representative
recent and older studies include Karahanna et al. (2005), Patel
(2004), Blanco and Osma (2004), Davison and
Martinsons (2003), Hofstede et al. (1990), Hofstede and Bond
(1988), and Hofstede (1984). Karahanna et al. (2005)
consider cultural levels and their impact on individual behavior.
39. Patel (2004) examines theoretical strengths and
weaknesses of prior research regarding accountants' values and
judgments. Blanco and Osma (2004) review
differences between US GAAP and International Financial
Reporting Standards, by looking at Form 20-F
reconciliations in the period 1995-2001. They find that
significant differences exist, but that international
standards and US GAAP appear to be converging. Hofstede
(1984) provides foundational work concerning the
effect of culture on business activities. Herrmann and Hague
(2006) indicate that international accounting
standards and US GAAP increasingly influence each other.
They note that the US Financial Accounting Standards
Board and the IASB entered into a memorandum of
understanding formalizing their commitment to converge on a
single set of accounting standards in 2002. This convergence
effort makes it important for US accountants to
understand how the conformance of a US accounting standard to
an international standard can significantly affect
US companies.
Fontes et al. (2005) analyzed three methods for measuring
success attained in achieving convergence between
two sets of accounting standards. They reviewed a measurement
method based on the concept of Euclidian
40. distances. They proposed two better measures of assessing
progress of national accounting standards setting
bodies in converging their standards with IFRSs. For illustrative
purposes they measured convergence of national
standards in Portugal with international standards over the
period 1977-2003. Mir and Rahaman (2005) evaluated
the decision of the Bangladeshi government and accounting
profession to adopt international standards. These
researchers used archival data and interviews of key actors,
including preparers and users of financial reports,
members of the SEC, and members of professional accounting
bodies. Results indicate that institutional
legitimization is a key factor that drives the decision to adopt
international standards.
The International Organization of Securities Commissions
(IOSCO) and the individual securities commissions,
which make up the IOSCO, play a key role in determining
worldwide acceptance of international standards. Over 60
securities regulatory agencies worldwide comprise the IOSCO.
The US Securities and Exchange Commission is a
member of the IOSCO. A major objective of the IOSCO is to
facilitate cross-border securities offerings and multiple
41. listings without compromising the financial statement
information provided (Gaspar et al. 2006). IASB member
Patricia L.O'Malley (2004), in a speech to the International
Accounting section of the American Accounting
Association, cited lower financial statement preparation costs as
a benefit of reducing differences in accounting
standards among nations. Resolving differences in multiple
GAAPs can be a substantial cost to multinational
business firms. Multinational firms with tens and even hundreds
of subsidiaries must translate host country
financial statements into home country statements. The process
of consolidating parent and subsidiary
statements is a massive and complex process. In a pivotal event
in 2005, the European Union (EU) required use of
IFRS in consolidated financial statements of all EU listed
companies, about 9,000 companies. Approximately 400
EU firms are traded on US markets. Besides the EU countries,
many other countries have adopted IFRS almost
word for word as their national GAAP. Countries adopting IFRS
include: Australia, New Zealand, South Africa,
Singapore, Hong Kong, and the Philippines. Some countries that
have stopped developing a national GAAP and
just use IFRS include: Bahrain, Croatia, Costa Rica, Cyprus,
Dominican Republic, Ecuador, Guatemala, Haiti,
42. Honduras, Jamaica, Kenya, Malta, Mauritius, Nepal, Oman,
Panama, Tanzania, Tajikistan, Trinidad, and United Arab
Emirates (Praeter 2003).
In December 2007, the Securities and Exchange Commission
revised its rules so that non- U.S. companies will be
permitted to include in their SEC filings financial statements
without reconciliation to US GAAP if the financial
statements are prepared in accordance with IFRS as issued by
the International Accounting Standards Board
(IASB). This is a landmark event in US financial reporting, as
acceptance of IFRSs removes a major obstacle for
foreign private issuers to enter and to remain in the US markets
(Deloitte Touche Tohmatsu 2008, Gibson, Dunn
and Crutcher 2008, Bergman et al. 2008).
The SEC seems on the verge of accepting IFRS, not just for
non-US companies trading in the US stock market but
for US-based companies, as well. Among those calling for
acceptance of IFRS are John Thain from the New York
Stock Exchange and former Federal Reserve Chairman Paul
Volcker (White 2007). FASB Chairman Robert Herz has
expressed his expectation that US companies would eventually
be required to follow a single accounting standard,
which would be IFRS (Leone 2007).
43. The ongoing globalization and resulting complexity of business
makes accounting financial reporting a technically
demanding and oftentimes daunting process. Across countries,
accounting standards diverge as a result of unique
cultural, political, legal, and economic factors. Effective and
efficient functioning of the global marketplace
necessitates uniformity in accounting standards. At the current
time, businesspersons, financiers, and investors
must take into consideration the differences that exist. Such
differences substantially curtail the development of
international business activity.
Harmonization of standards has the potential of benefiting
economic activity around the globe (Gaspar et al.
2006). As far back as the beginning of recorded history, peoples
of the world have participated in global
commerce. As long as international trade has occurred,
accounting is useful for recording and reporting the
results. Multinational operations are increasingly important to
all types of business firms. Numerous multinational
firms are either expanding international operations, or becoming
part of other multinational firms via mergers or
acquisitions. Consequently, more firms than ever before are
providing products and services to customers around
the globe.
44. The internationalization of business and capital markets has
resulted in an economic environment in which
uniform procedures for financial statement preparation would
benefit investors, lenders, financial analysts,
accountants, and auditors (Gaspar et al. 2006). Uniformity
facilitates comparability of financial statements among
firms of diverse country locations. The International
Accounting Standards Board (IASB) is endeavoring to develop
harmonized financial accounting standards to satisfy worldwide
demands. Numerous multinational firms are
required or voluntarily choose to follow international standards
in preparing their financial reports.
2008 NOV 3 - (VerticalNews.com) - Many U.S. companies have
not begun preparations for the possible transition
from the current Generally Accepted Accounting Principles (US
GAAP) to International Financial Reporting
Standards (IFRS), according to a survey conducted by Protiviti
Inc., a global business consulting and internal audit
firm. The survey also finds a number of challenges for
companies in making the conversion to IFRS, including the
expense of upgrading IT systems to finding the right talent to
make the transition smooth and efficient.
45. Throughout the world, regulatory agencies and investors have
sought out a consistent worldwide standard for
financial reporting, resulting in the U.S. Securities and
Exchange Commission (SEC) publishing a proposed
roadmap for large corporations to switch to international
accounting standards by 2014. Under this proposed plan,
more than 100 companies may be able to start following IFRS
with their 2009 financial statements. Now is the
time for companies to begin determining the steps they will
need to take to ensure that their conversion to IFRS is
as seamless and cost-effective as possible," said Christopher
Wright, managing director with Protiviti and one of
the firm's global leaders of IFRS services. "Conducting a
diagnostic review of everything from financial policies and
disclosures to data flows is strongly recommended now to scope
out all the possible ways a company and its
finance function could be impacted."
As head of the accounting profession's largest association,
Melancon serves as a member of the AICPA's
delegation to the International Federation of Accountants,
whose broad objective is the development and
enhancement of a coordinated worldwide accountancy
profession with harmonized standards. Melancon says the
interconnected financial markets underscore the need for
46. consistent standards and predicts the move to IFRS in
the United States will likely be led by the Securities and
Exchange Commission (SEC), which began encouraging an
international set of standards in 1988. Although the commission
is likely to undergo changes under a new
presidential administration, it recently called for a roadmap that
could lead to IFRS being used in the United States
by 2014. "The world's capital markets have long searched for a
single set of high quality accounting standards that
can be used anywhere on earth," notes current SEC Chairman
Christopher Cox. "The proposed roadmap is cautious
and careful. It's a proposed multi-year plan."
Research methodology
The main objectives of this paper refers to the issues related to
the US transition to IFRS, whole these issues
proposed by some authors being founded in a brief review of the
literature written on the topic till 2009. To achieve
the objectives that were proposed, we analyzed over 20
academic articles indexed in different international
database that were available and also the site of IASB.
In general, IFRS standards are broader than their US
counterparts, with limited interpretive guidance. While US
standards contain underlying principles as well, the strong
47. regulatory and legal environment in US markets has
resulted in a more prescriptive approach - with far more "bright
lines," comprehensive implementation guidance
and industry interpretations. The International Accounting
Standards Board (IASB) generally has avoided issuing
interpretations of its own standards, preferring instead to leave
implementation of the principles embodied in its
standards to preparers and auditors, and its official interpretive
body, the International Financial Reporting
Interpretations Committee (IFRIC).
In any case, momentum is building for US adoption of IFRS,
and conversion no longer appears to be a matter of "if,"
but more a matter of "when" and "how." For companies that
report in multiple jurisdictions, the adoption of a single
global set of accounting standards can be a benefit in terms of
process standardization and related efficiency
gains. Multiple approaches to financial reporting continue to be
inefficient and troublesome, and many affected
companies strongly support the SECs continued efforts in the
US transition to IFRS. The question that power and
utility executives and directors need to tackle sooner, rather
than later - is how they can maximize the
opportunities presented by IFRS and effectively and efficiently
deal with any challenges as a result of the
48. conversion. The straightforward answer is to start planning
now, dedicate the appropriate management focus and
create a project team across all aspects of the company -
including the financial accounting and reporting, tax and
IT departments - to assess the effort and work toward transition
activities. Also, it's never too early to begin
educating analysts and investors on how a conversion to IFRS
might impact the company's financial results. Now
is the time to begin planning for conversion from GAAP to
IFRS. The resources needed and the impact on the
organization will be far-reaching. But with proper strategic
planning, benefits can be substantial.
Five steps to implementing
Step 1: Develop goals:
The company's management team and board of directors decide
how best to present the company's financiers on
an ongoing basis. Then, preliminary mapping begins and high-
level risk assessments are conducted, outlining the
potential impact that IFRS can have on the company's balance
sheet, financial reporting and accounting policies,
tax liabilities, and contracts and joint venture agreements.
49. Step 2: Design and planning:
The transition team validates the conversion recommendations
made in Step 1 and evaluates the various options
to determine the impact that different financial accounting and
reporting policies will have across the enterprise.
Step 3:
Solution
development:
New IFRS policies are modeled, and the transition team
develops the process and system change requirements
that the new guidelines require.
Step 4: Implementation:
At its heart, implementation is a straightforward change-
management effort that includes communication and
training, followed by carrying out the agreed-upon approaches.
At this step, the transition team can begin to test
50. the new guidelines as implemented and remediate as needed.
Step 5: Post-implementation review:
This occurs when all key parties- financial accounting and
reporting, treasury, tax and others-meet to debrief and
identify opportunities for improvement.
These five steps might take as long as two or three years from
initial diagnostic discussions to post-
implementation changes. This period allows for a thoughtful,
well-planned transition that increases the long-term
benefit of IFRS. Companies that wait-until either the SEC
determines a definitive timeline or their competitors
accelerate efforts toward transition-might find themselves
playing catch-up.
This study reviews International Financial Reporting Standards
and how their use worldwide has dramatically
increased in recent years. A review of prior research shows that
51. IFRS have the potential to improve the function of
capital markets and facilitate economic progress. Based on the
longitudinal analysis of adoption of IFRS by the
countries of the world, there appears to be significant
momentum for eventual adoption of IFRS worldwide,
including in the U.S. The U.S. already accepts IFRS for non-
U.S. firms traded in the U.S. markets. Eventual
acceptance of IFRS for U.S.-based firms seems quite probable.
A survey of perspectives about IFRS revealed that
top corporate accounting officers are highly favorable to
acceptance of IFRS for financial reporting by all
companies in all countries, including the U.S. Combining the
favorable perspectives of top accounting officers with
the increasingly widespread adoption of IFRS in countries
around the world, IFRS seem to be an unstoppable
juggernaut for US and global financial reporting. Based on this
analysis, acceptance of IFRS in virtually all
52. countries, including the U.S., appears imminent, perhaps
occurring within the next few years.
Future research could investigate the benefits and problems
associated IFRS. Future research could develop a
longitudinal analysis of how international standards change over
time. In addition, future research could evaluate
the economic benefits of using international standards at the
micro (corporation) level and macro (national or
global) level. Future research could consider whether adoption
of international standards leads to easier access by
a firm to foreign capital markets, lower cost of capital, and
financial transparency.
Conclusions
IFRS, which aims to create a set of common financial reporting
benchmarks for companies worldwide, is seeing
growing acceptance within the US accounting profession,
53. according to the Washington, D.C.-based American
Institute of Certified Public Accountants.
Already, the European Union, Australia, New Zealand, Canada
and Israel have accepted IFRS as the standard for
publicly held companies; the US Securities and Exchange
Commission is currently weighing whether or not the
new standards should be made mandatory for US companies.
Fifty-eight percent (58%) of US companies are unprepared to
train staff for the transition from US Generally
Accepted Accounting Principles (GAAP) to International
Financial Reporting Standards (IFRS), according to a new
survey by Ajilon Finance