accounting. History of FASB and IASB The FASB has been establishing accounting standards for the private sector ever since 1973‚ when it was formally formed. The FASB is documented as the commanding team by the American Institute of Certified Public Accountants and the Securities and Exchange Commission. The FASB is a private organization. The FASB is predominantly responsible for the establishment of accounting rules and reporting standards. The main assignment of the FASB is to improve accounting
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change in the CPI was 4%. * * * Research Question * * Should the costs‚ or potential costs‚ associated with the increase in the CPI be included in “minimum lease payments” as defined in ASC 840? * * Relevant Literature * * According to ASC 840-10-25-4 and ASC 840-10-55-39 – if lease payments are dependent upon an existing index‚ such as the CPI‚ then the payments based on the rate at inception are to be included in minimum lease payments. If there are any index
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already existing going concern reporting model and disclosures. This project was added to provide guidance for entities in assessing their ability to continue as a going concern‚ and the timing‚ nature and extent of associated disclosure requirements (FASB‚ 2013). Finally these standards would help management decide where disclosure is appropriate. Alternative approaches In terms of alternatives IFRS defines going concern as the period in the foreseeable future (Finance Train‚ 2013). According to IAS
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1.0 Introduction Nowadays‚ in a highly technological society‚ human productivity is made more efficient through the development of electronic gadgets. Now‚ with the advent of such modernization in education‚ one way to globalize the process of research is to realize that technology is advancing at an incredibly fast phase. Computers are not confined to being used for entertainment but its role in education is also vast. Grading is one of the most important activities a faculty member does. Many
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subsidiary in bankruptcy qualify as a business combination under ASC 805? According to ASC 805-10-20‚ the definition of business combination is “a transaction or other event in which an acquirer obtains control of one or more businesses. Transactions sometimes referred to as true mergers or mergers of equals also are business combinations”. Nevertheless‚ some business activities do not count as business combination. According to ASC 805-10-15-4‚ the guidance in the Business Combinations Topic does
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CountryID = Countries.CountryID left join master.dbo.EmployeeTitles EmployeeTitles on EmployeeTitles.TitleID = Employees.TitleID left join master.dbo.Regions Regions on Regions.RegionID = Countries.RegionID order by Regions.RegionName asc ‚Countries.CountryName asc ‚Employees.LastName
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Financial Statement Analyses (Intro) The financial statement is a company’s document reporting the outcome of the business. Managers‚ investors‚ and the public can look to the company’s financial statements to assess a company’s current position‚ past performance‚ and predictions of future performance (Horngren‚ Sundem‚ Stratton‚ Burgstahler‚ & Schatzberg‚ 2008). The individual financial statement assists investors in coming to a conclusion concerning the company. It is imperative
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International law ------------------------------------------------- Introduction ------------------------------------------------- International law‚ body of rules considered legally binding in the relations between national states‚ also known as the law of nations. It is sometimes called public international law in contrast to private international law (or conflict of laws)‚ which regulates private legal affairs affected by more than one jurisdiction. -------------------------------------------------
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losses are divided 55:45 to DeviceCo and Pharmador. Board approval is required by a majority vote for all ongoing business activities and new contract in excess of $50‚000. 1.) Pharmador is only able to qualify for the business scope exception under ASC 810-10-15-17d because it has not met any of the following four conditions: 1. The reporting entity‚ its related parties (all parties identified in paragraph 810-10-25-43‚ except for de facto agents under paragraph 810-10-25-43(d)(1))‚ or both participated
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b 8. Common set of standards and procedures. c 9. Role of SEC. c 10. Powers of the SEC. d 11. SEC enforcement. d 12. Creation of FASB. d 13. Appointment of FASB members. a 14. Purpose of the Financial Accounting Foundation. b 15. Characteristics of FASB. b 16. FASB and "due process" system. b 17. Publications of FASB. c 18. Purpose of FASB Technical Bulletins. d 19. Purpose of Emerging Issues Task Force. b 20. Purpose of GASB. c 21. Domain of GASB. c 22. Standard setting
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