Categories: Accounting

Financial Reporting Standards

&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad1" id&equals;"quads-ad1" style&equals;"float&colon;left&semi;margin&colon;0px 0px 0px 0&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Leases<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 18<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Revenue recognition<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 19<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Employee benefits<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 20<&sol;p>&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad2" id&equals;"quads-ad2" style&equals;"float&colon;none&semi;margin&colon;0px 0 0px 0&semi;text-align&colon;center&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Government Grants accounting and disclosures<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 21<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Effects of changes in foreign exchange<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 22<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Business combinations<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 23<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Borrowing costs<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 24<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Related party disclosures<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 25<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Accounting for investments<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 26<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Retirement benefit plans – accounting and reporting<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 27<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Consolidated financial statements<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 28<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Investments in associates<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 29<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Financial reporting in hyperinflationary economy<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 30<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Financial statements of financial institutions – disclosures<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 31<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Joint ventures<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 32<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Financial instruments – presentation<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 33<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Earnings per share<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 34<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Interim financial reporting<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 35<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Discontinued operations<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 36<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Impairment of assets<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 37<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Provisions&comma; contingent assets and liabilities<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 38<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Intangible assets<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 39<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Financial instruments – recognition and measurement <&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 40<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Investment property<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<tr>&NewLine;<td valign&equals;"top" width&equals;"43"> 41<&sol;p>&NewLine;<&sol;td>&NewLine;<td valign&equals;"top" width&equals;"365"> Agriculture<&sol;p>&NewLine;<&sol;td>&NewLine;<&sol;tr>&NewLine;<&sol;tbody>&NewLine;<&sol;table><&sol;div>&NewLine;<p align&equals;"justify">&lbrack;linkunit&rsqb;Above financial reporting standards are espoused by many countries to ensure transparency in financial reporting&period; But at the same these standards do not supersede the local legislations&period; Once adopted the local listed companies and large institutions are required to prepare financial statements in accordance with the principles of international financial reporting standards&period; The auditors specifically audit the financial statements to check the implementation of the standards and their adherence in letter and spirit&period;<&sol;p>&NewLine;<p align&equals;"justify">The countries assuming and implementing the financial reporting standards attract investments to a great extent due to the confidence of investors in transparent financial reporting based on internationally accepted financial reporting standards&period; The financial information presented in a uniform format on the basis of internationally accepted principles becomes more understandable and reliable for the alien investors and they become capable of making decisions regarding their investments in far reaching countries and out of home ventures&period; &NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad3" id&equals;"quads-ad3" style&equals;"float&colon;none&semi;margin&colon;0px&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;&NewLine;

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