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Professional Judgment in Financial Reporting by Michael Gibbins,Alister K. Mason,Canadian Institute of Chartered Accountants Pdf
Examines the nature and practice of professional judgement in financial reporting: professional judgement on accounting measurement, presentation and disclosure issues.
Achieving Global Convergence of Financial Reporting Standards by Christopher Patel,Parmod Chand Pdf
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.
Reaching Key Financial Reporting Decisions by Stella Fearnley,Vivien Beattie,Tony Hines Pdf
The regulatory framework for financial reporting, auditing and governance has changed radically in recent years, as a result of problems identified from the Enron scandal and more recently from the drive to implement global standards. In a key regulatory change, a company audit committee is now expected to play a significant role in agreeing the contents of the financial statements and overseeing the activities of the auditors. Finance Directors, Audit Committee Chairs and Audit Engagement Partners are required to discuss and negotiate financial reporting and auditing issues, a significant process leading to the agreement of the published numbers and disclosures, and to the issuing of the auditor's report which accompanies them, but which is entirely unobservable by third parties. Reaching Key Financial Reporting Decisions: How Directors and Auditors Interact is a fascinating, behind-the-scenes examination of this closed process. The authors draw on the results of face to face interviews, and an extensive survey of finance directors, audit committee chairs and audit partners, and present nine company case studies highlighting the process of discussion and negotiation and the methods by which the agreed financial reporting outcome was reached. Detailed analysis of the case studies: Allows those involved in the process to benchmark their behaviours against those of others Enables a comparison between the previous and current regulatory environments to see what has changed, and sheds light on the sorts of behaviours the current regulatory framework encourages Evaluates the effectiveness of the changed regulatory regime, providing evidence relevant to current policy debates concerning the value of audit, IFRS and the relative merit of rules-based versus principles-based accounting standards in relation to professional judgement and compliance The unprecedented access and unique insights offered by this book make it invaluable for audit firm staff and partners, audit committee chairs and company directors involved in agreeing the published financial statements, as well as those who have an interest in the financial statements, but do not have access to the negotiation process.
The Professional's Guide to Fair Value by James P. Catty Pdf
An all-encompassing guide to the elements and basics of fair value With the important role fair value is playing in the creation of a converged set of global accounting standards, demand for products in this category is growing spectacularly. The elements and basics of fair value are covered, including risk, dealing with the SEC, and details on legal responsibility. In addition, sample financial statements are included, along with tables, recommended applicable techniques, and management checklists for those who are responsible for preparing and approving of financial statements. Written by the Chairman and co-CEO of the International Association of Consultants, Valuators and Analysts (IACVA) Includes sample financial statements of both U.S. and foreign companies Appropriate for anyone involved professionally with finance—managers, accountants, investors, bankers, instructors, and students—The Professional's Guide to Fair Value is a reliable reference on the ins and outs of fair value financial disclosure.
Thomas R. Weirich,Natalie Tatiana Churyk,Thomas C. Pearson
Author : Thomas R. Weirich,Natalie Tatiana Churyk,Thomas C. Pearson Publisher : John Wiley & Sons Page : 277 pages File Size : 48,6 Mb Release : 2012-08-28 Category : Business & Economics ISBN : 9781118416877
Accounting and Auditing Research and Databases by Thomas R. Weirich,Natalie Tatiana Churyk,Thomas C. Pearson Pdf
The easy-to-use, do-it-yourself desk accounting and auditing research database FASB's online GAAP Codification system. The convergence of U.S. GAAP and International Financial Reporting Standards. EDGAR filing and research system. RIA Checkpoint and CCH. Accounting professionals and practitioners need to understand these research databases to reach solutions and achieve maximum results for the organization. Highlighting each pertinent database, Accounting and Auditing Research Databases shows you how to conduct research using a host of databases including RIA, CCH, AICPA's Online Library, FASB Codification, GARS, and eIFRS. Highlights each specific database Step-by-step guidance to research resources Explains how to conduct research using databases including AICPA's Online Library, FASB Codification, and eIFRS Enables you to understand accounting and auditing research to reach solutions Accounting and Auditing Research & Databases: A Practitioner's Desk Reference focuses on the practical aspects of professional accounting and auditing research with step-by-step guidance to research resources to provide you with the skills you need to improve within your organization.
Materiality in Financial Reporting by Francesco Bellandi Pdf
This book offers an integrated perspective of materiality from the different angles of accounting, auditing, internal controls, management commentary, financial analysis, management control, forensic analysis, sustainability reporting, corporate responsibility, assurance standards, integrated reporting, and limited legal considerations.
Guide: Preparation, Compilation, and Review Engagements, 2017 by AICPA Pdf
Issued under the authority of Accounting and Review Services Committee (ARSC) and a go-to guide for accountants performing preparation, compilation and review engagements, this version contains the most up-to-date guidance, including the recently issued Statement on Standards for Accounting and Review Services (SSARS) No. 22, Compilation of Pro Forma Financial Information, and SSARS No. 23, Omnibus Statement on Standards for Accounting and Review Services – 2016. This edition also contains some enhancive updates related to materiality in review engagements, professional skepticism, and more illustrative accountant’s reports.
Accounting in Asia by S. Susela Devi,Keith Hooper,Shahzad Uddin,Mathew Tsamenyi Pdf
"Papers cover subjects such as Executive compensation and corporate governance with special reference to Bangladesh; leading companies in India; Fraudulent Financial Reporting. Non-financial performance measures and performance relationship in the Bangladeshi manufacturing firms.
Globalisation and Contextual Factors in Accounting by Eva Heidhues,Christopher Patel Pdf
This research monograph critically examines convergence of financial reporting in Germany by taking into account the influence of political, social and economic factors on accounting. This study makes an original and significant contribution by examining issues and biases in the convergence process that may challenge the assumption of superiority,
The Darkening Glass by Rachel Francis Baskerville,Lisa Evans Pdf
A single global accounting language surely must be the aim of the accounting profession in its bid to support the global economy and markets. However, there are a number of practical and political issues which may hinder this process. This report addresses one of these issues - that of translation. This report takes a European perspective: to identify specific issues which arise in the translation of accounting terminology; to explore the implications of these issues; and to make recommendations for stakeholders in IFRS adoption and translation. The authors find that although translation is possible, direct equivalence cannot be achieved. Translation problems can arise because of differences in accounting systems and language structures. Problems are likely to differ between different language families. A major problem is that meanings between different languages do not exactly overlap. These findings give rise to six policy implications for consideration by the profession.
Author : Alfred M. King Publisher : John Wiley & Sons Page : 354 pages File Size : 53,6 Mb Release : 2006-04-27 Category : Business & Economics ISBN : 9780470008324
Fair Value for Financial Reporting by Alfred M. King Pdf
Is Purchase Price Equal to Fair Value? With the FASB changing the requirements for increasing categories of assets and liabilities to be shown at current fair value, Fair Value for Financial Reporting answers this and other pertinent questions with crystal clarity. Alfred King, a top expert in the field, provides financial executives and auditors with a deep understanding of fair value reporting, the appraisal process, and appraisal services, and demystifies this topic with practical advice and helpful knowledge, making it a trusted reference on the ins and outs of fair value financial disclosure. Fair Value for Financial Reporting highlights the accounting and auditing requirements for fair value information and offers a detailed explanation of how the FASB is going to change "fair value" with topics including: the FASB's fair value proposals; determining the fair value of intangible assets; whether fair value can truly be audited; valuation of liabilities and contingent payments; valuation of hard assets and real estate; why two appraisers come up with different results; auditing of valuation reports; and selecting and working with an appraiser.
Statements on Standards for Accounting and Review Services by AICPA Pdf
The Accounting and Review Services Committee (ARSC) has issued Statement on Standards for Accounting and Review Services No. 21, Statements on Standards for Accounting and Review Services: Clarification and Recodification. The issuance of SSARS No. 21 represents a major milestone in the ARSC’s project to clarify and revise the standards for reviews, compilations, and engagements to prepare financial statements. To assist readers to easily locate information, a detailed table of contents is provided at the beginning of the SSARS. This statement recodifies and supersedes all outstanding SSARSs through No. 20, except SSARS No. 14, Compilation of Pro Forma Financial Information. SSARS No. 21 is effective for reviews, compilations, and engagements to prepare financial statements for periods ending on or after December 15, 2015 but early implementation is permitted. This statement is a standalone SSARS and is not a codification of all clarified SSARSs. This statement has been codified in AICPA Professional Standards, which contains a complete codification of Statements on Standards for Accounting and Review Services. Practitioners are advised to use the codified version of this SSARS as they prepare to evaluate and update their methodologies, and prepare for changes precipitated by the clarity project.
Get up to date on the latest FASB, SEC, and AICPA guidelines and best practices Fair Value Measurement provides hands-on guidance and the latest best practices for measuring fair value in financial reporting. The Financial Accounting Standards Board (FASB), the U.S. Securities and Exchange Commission (SEC), and the American Institute of CPAs (AICPA) have all updated their guidelines for practitioners, and this book details the changes from a practical perspective. This new third edition includes a discussion on Private Company Council accounting alternatives for business combinations and impairment testing, with a detailed example of the Market Participant Acquisition Premium (MPAP), including European and Asian examples and expanded discussion of IFRS. Fair value measurement guidelines continue to evolve, and this comprehensive reference provides a valuable, up-to-date resource for preparers, auditors, and valuation specialists. Adopt the best practices for implementing the FASB's Topic 820 Learn the latest reporting requirements for fair value measurements Understand accounting alternatives for business combinations Examine the details of MPAP in Europe and Asia Applying fair value measurements to financial statements requires a move away from rules-based standards and toward application of professional judgment. This controversial shift has led to a reliance on valuation specialists, who face their own challenges in applying Topic 820 amidst an economic downturn and recovery, leading to an ever evolving set of best practices. Practitioners must stay up to date, and be aware of the changes as they occur. Fair Value Measurement provides the most recent information and a practical approach to this area of financial reporting.
