Convergence of IFRS and US GAAP

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Author :
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783843388603
Total Pages : 72 pages
Book Rating : 4.3/5 (886 download)

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Book Synopsis Convergence of IFRS and US GAAP by : Malieka Farah Deeba Malik

Download or read book Convergence of IFRS and US GAAP written by Malieka Farah Deeba Malik and published by LAP Lambert Academic Publishing. This book was released on 2011-01 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: The main idea behind this paper is to highlight the background and current movements of International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB) toward convergence of International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Principles (GAAP). Subsequent to introductory chapter the second chapter discusses the historical perspectives describing the various events that shaped the IASB and FASB current efforts towards convergence of IFRS and US GAAP. The third chapter describes the strategies policies and procedures adopted by the IASB/FASB to achieve the goal for international accounting convergence. The focus is on the maintainability of investors' interest and integrity of capital markets that can only be achieved by observing methods required for high quality accounting standards. Fourth chapter identifies the substantive differences and similarities between IFRS and US GAAP and catalogue those differences in which a specific accounting treatment is permissible under one basis of accounting standards but not permissible under the other.

IFRS and US GAAP

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 1118239067
Total Pages : 230 pages
Book Rating : 4.1/5 (182 download)

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Book Synopsis IFRS and US GAAP by : Steven E. Shamrock

Download or read book IFRS and US GAAP written by Steven E. Shamrock and published by John Wiley & Sons. This book was released on 2012-03-08 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical comparison of—and expert guidance on—IFRS and GAAP written by a practicing controller International Financial Reporting Standards (IFRS) are used in over 120 countries. US companies will inevitably encounter IFRS when evaluating the financial health of suppliers and customers. IFRS and US GAAP: A Comprehensive Comparison provides instruction in accounting under IFRS within the context of US accounting standards. Practical and easy-to-use, this book includes a case study of a first time IFRS adoption, emphasizing the much greater degree of professional judgment that is needed for IFRS. Provides a heavy emphasis on practical examples Includes an online companion website with downloadable spreadsheets and templates Reflects current financial reporting trends Addresses accounting requirements of which today's auditors, accountants and preparers of financial reports need to be aware Clarifying IFRS, its impact on US companies, and where to start in understanding it, IFRS and US GAAP prepares US accountants to be knowledgeable with day to day financial accounting issues using IFRS's substantial similarity with US GAAP as a context.

Towards Convergence

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Author :
Publisher :
ISBN 13 :
Total Pages : 144 pages
Book Rating : 4.:/5 (83 download)

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Book Synopsis Towards Convergence by : Ernst & Young

Download or read book Towards Convergence written by Ernst & Young and published by . This book was released on 2007 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:

IFRS Vs. US GAAP: Differences and Convergence

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Author :
Publisher :
ISBN 13 :
Total Pages : 112 pages
Book Rating : 4.:/5 (19 download)

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Book Synopsis IFRS Vs. US GAAP: Differences and Convergence by : Jyotshna Kansakar

Download or read book IFRS Vs. US GAAP: Differences and Convergence written by Jyotshna Kansakar and published by . This book was released on 2008 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Handbook to IFRS Transition and to IFRS U.S. GAAP Dual Reporting

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 0470977124
Total Pages : 847 pages
Book Rating : 4.4/5 (79 download)

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Book Synopsis The Handbook to IFRS Transition and to IFRS U.S. GAAP Dual Reporting by : Francesco Bellandi

Download or read book The Handbook to IFRS Transition and to IFRS U.S. GAAP Dual Reporting written by Francesco Bellandi and published by John Wiley & Sons. This book was released on 2012-05-07 with total page 847 pages. Available in PDF, EPUB and Kindle. Book excerpt: An indispensable guide to making the transition to dual IFRS/GAAP financial reporting U.S. financial reporting will undergo an unprecedented level of change within the next several years. U.S. companies face a convergence between U.S. GAAP and IFRS, affecting several major accounting standards—most notably in the areas of leasing, revenue recognition, and financial instruments. It is imperative that U.S. companies understand these major changes and their business and operational implications. The IFRS U.S. GAAP Dual Reporting Handbook to First-Time Adoption offers a comprehensive treatment of both the principles and techniques of dual reporting under IFRS/U.S. GAAP, while exploring the practical implications for accounting professionals of reporting under both sets of standards. Takes an operating approach to the implementation and application of the dual standards Draws upon the author's extensive firsthand experience to dispel uncertainty and offer decision makers expert technical assistance Defines systemic changes businesses will need to make to accommodate IFRS standards Compares the two bodies of standards item-by-item and identifies solutions under one set of standards to issues arising under the other Explores the strategic impact of structuring a company for IFRS transition In addition to covering the full range of critical issues surrounding adopting IFRS, this indispensable handbook is a rich resource of dual reporting tools, including financial statement formats, charts of accounts, accounting check-lists, reconciliation schedules, and operating manuals.

The Convergence of the IFRS and U.S. GAAP to a Global Accounting Standard

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Author :
Publisher :
ISBN 13 :
Total Pages : 66 pages
Book Rating : 4.:/5 (82 download)

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Book Synopsis The Convergence of the IFRS and U.S. GAAP to a Global Accounting Standard by : Paul Fouche Raath

Download or read book The Convergence of the IFRS and U.S. GAAP to a Global Accounting Standard written by Paul Fouche Raath and published by . This book was released on 2011 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Globalisation of Accounting Standards

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Author :
Publisher : Edward Elgar Publishing
ISBN 13 : 9781782542704
Total Pages : 344 pages
Book Rating : 4.5/5 (427 download)

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Book Synopsis Globalisation of Accounting Standards by : Jayne Maree Godfrey

Download or read book Globalisation of Accounting Standards written by Jayne Maree Godfrey and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, Jayne Godfrey and Keryn Chalmers explore the intricacies of the globalisation of accounting standards - arguably one of the most significant business developments of the wider globalisation process during the past two decades. They examine the key issues and implications of this harmonization of accounting standards from the perspectives of a diverse range of worldwide stakeholders. "Globalisation of Accounting Standards" shows that globalisation approaches differ significantly because countries seek to maintain varying degrees of sovereignty over their regulations. International differences in economic, political, legal, religious and social characteristics also affect globalisation approaches and, in turn, influence national accounting standard-setting agendas. The book explores why countries relinquish their existing national accounting standard-setting regimes to join the global movement. It also seeks to resolve questions such as: To what extent are national incentives altruistic, economic, political or social? Who are the winners and losers in the process? This authoritative book is thoroughly researched and expertly informed. Written by both academics and regulators, it tackles a critical and controversial issue in the globalisation movement. As such, it will be of great interest to a wide-ranging audience including: international, national, private and public sector standard-setters, economic regulators, accounting academics and political economists and strategists.

Convergence Guidebook for Corporate Financial Reporting

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 0470464208
Total Pages : 291 pages
Book Rating : 4.4/5 (74 download)

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Book Synopsis Convergence Guidebook for Corporate Financial Reporting by : Bruce Pounder

Download or read book Convergence Guidebook for Corporate Financial Reporting written by Bruce Pounder and published by John Wiley & Sons. This book was released on 2009-03-03 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: As a result of the global convergence of financial reporting standards, U.S. GAAP is changing profoundly. U.S. GAAP is also being abandoned by many public and private companies, and will eventually be replaced by a higher-quality set of global standards. The Convergence Guidebook for Corporate Financial Reporting provides the timely, practical guidance that CFOs, controllers, and other financial managers need in order to prepare for the impact of Convergence on their companies, departments, and careers. Guidebook readers will also learn why they must begin preparing for "the next big challenge in corporate financial reporting" now.

IFRS Convergence

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Author :
Publisher : Wiley
ISBN 13 : 9781118343708
Total Pages : 0 pages
Book Rating : 4.3/5 (437 download)

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Book Synopsis IFRS Convergence by : Arif Ahmed

Download or read book IFRS Convergence written by Arif Ahmed and published by Wiley. This book was released on 1991-01-08 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The practical guide to merging GAAP and IFRS in the new accounting environment IFRS Convergence is a practical guide to implementing various requirements under International Financial Reporting Standards. With detailed discussion of every standard, this book provides a workable blueprint for incorporating IFRS requirements into current accounting practices without major procedural upheaval. Readers will gain a deeper understanding of the standards and their accepted interpretations, and find expert tips that highlight the finer points to facilitate everyday application. Designed as a resource for both new and more seasoned professionals, the book's concise approach and focused explanations make it a useful ready reference for all stages of the convergence process. The book will not only be helpful for organisation adopting IFRS for the first time, but will also be a great guide for implementing the changes and new standards for IFRS compliant organisations. More than a hundred countries have adopted IFRS, and that number continues to grow. In the U.S., uncertainty surrounding the IFRS adoption process has placed greater importance on familiarity with the standards, and accounting professionals are increasingly expected to have implementation ability. IFRS Convergence clarifies the standards from the viewpoint of implementation issues, providing a valuable reference that helps readers to: Understand key concepts of convergence and the scope of the issue Learn how convergence will affect accounting treatments, presentation, and disclosure Study a model accounting policy under each IFRS Improve their understanding on practical implementation issues through tips and tricks capsules Find explanations and interpretations of major IFRS-related definitions Collaboration between the U.S. and international boards is gradually erasing the boundaries between IFRS and GAAP. Convergence efforts are continually underway, and accounting professionals are under pressure to remain up to date on the latest standards and practices. IFRS Convergence provides the interpretations, explanations, and actionable guidance professionals need to stay current.

Convergence of IFRS and U.S. GAAP

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Author :
Publisher :
ISBN 13 :
Total Pages : 25 pages
Book Rating : 4.:/5 (53 download)

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Book Synopsis Convergence of IFRS and U.S. GAAP by :

Download or read book Convergence of IFRS and U.S. GAAP written by and published by . This book was released on 2009 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:

International Accounting Standards

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Publisher :
ISBN 13 :
Total Pages : 168 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis International Accounting Standards by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities, Insurance, and Investment

Download or read book International Accounting Standards written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities, Insurance, and Investment and published by . This book was released on 2010 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Convergence with Accounting Standards

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Author :
Publisher : GRIN Verlag
ISBN 13 : 3656649375
Total Pages : 24 pages
Book Rating : 4.6/5 (566 download)

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Book Synopsis Convergence with Accounting Standards by : Gaberella Green

Download or read book Convergence with Accounting Standards written by Gaberella Green and published by GRIN Verlag. This book was released on 2014-05-05 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Project Report from the year 2012 in the subject Business economics - Accounting and Taxes, grade: 100, Argosy University, course: Contemporary Accounting Theory (B7630), language: English, abstract: The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) set out to complete their ambitious goal of convergence before the year of 2015. The author provides an outline of these efforts, emphasizing the importance and ramifications of International Accounting Standards (IAS) as a means to globally improve quality and clarity of financial reporting across financial sectors. An extensive review of pertinent literature is given, visualizing the two-pronged approach of converging global accounting standards while continuing to improve the US Generally Accepted Accounting Principles (US GAAP). As no significant agreement has been implemented since 2008, the main areas of interest to this date remain income tax, revenue recognition, leases, and financial instruments. The present work puts in perspective the roadmap by the Securities and Exchange Commission (SEC), whilst assigning pivotal roles in the harmonization process to Certified Public Accountants (CPAs) and Chief Financial Officers (CFOs). The author offers a conceptual framework and strategies for the successful completion of the convergence project, adding special emphasis on business mergers and taking a strong position on the active involvement of major players and stakeholders.

Staying Competetive [sic]

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Author :
Publisher :
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (74 download)

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Book Synopsis Staying Competetive [sic] by : Joseph C. DeMarzio

Download or read book Staying Competetive [sic] written by Joseph C. DeMarzio and published by . This book was released on 2011 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Achieving Global Convergence of Financial Reporting Standards

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Author :
Publisher : Emerald Group Publishing
ISBN 13 : 1780524420
Total Pages : 177 pages
Book Rating : 4.7/5 (85 download)

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Book Synopsis Achieving Global Convergence of Financial Reporting Standards by : Christopher Patel

Download or read book Achieving Global Convergence of Financial Reporting Standards written by Christopher Patel and published by Emerald Group Publishing. This book was released on 2011-12-15 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research monograph examines whether International Financial Reporting Standards (IFRS) are interpreted and applied in a consistent manner within and across countries, and questions the implicit assumption that accounting convergence will automatically lead to comparability in financial reporting.

GAAP Vs. GAAP: U.S. Convergence to International Accounting Standards

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Author :
Publisher :
ISBN 13 :
Total Pages : 98 pages
Book Rating : 4.:/5 (431 download)

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Book Synopsis GAAP Vs. GAAP: U.S. Convergence to International Accounting Standards by : André R. S. Mitchell

Download or read book GAAP Vs. GAAP: U.S. Convergence to International Accounting Standards written by André R. S. Mitchell and published by . This book was released on 2008 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Convergence of IFRS and US GAAP

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)

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Book Synopsis The Convergence of IFRS and US GAAP by : Stuart Mestelman

Download or read book The Convergence of IFRS and US GAAP written by Stuart Mestelman and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Wiley International Trends in Financial Reporting under IFRS

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 1118233824
Total Pages : 1001 pages
Book Rating : 4.1/5 (182 download)

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Book Synopsis Wiley International Trends in Financial Reporting under IFRS by : Abbas A. Mirza

Download or read book Wiley International Trends in Financial Reporting under IFRS written by Abbas A. Mirza and published by John Wiley & Sons. This book was released on 2012-10-05 with total page 1001 pages. Available in PDF, EPUB and Kindle. Book excerpt: Wiley International Financial Reporting Trends provides copious examples of footnote disclosures and financial statement formats, carefully culled from the world's leading international companies ("Global 500") that are already compliant with IFRS and report under IFRS standards promulgated by the International Accounting Standards Board, the IASB. Arranged topically, this book is a quick source of reference to find answers to issues of interest to financial statement preparers. It provides hundreds of illustrations taken from financial statements prepared under IFRS by global conglomerates thereby helping preparers and users of financial statements to expeditiously obtain examples of footnote disclosures and financial statements presented under these Standards which are popularly referred to as "principles-based" standards (as opposed to "rules-based" standards). Additionally, Wiley International Financial Reporting Trends contains comparisons of IFRS to US GAAP, Indian GAAP, and Chinese GAAP, making it a truly global reference resource.