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Fascinating Accounting Game, already available on our website
 
hi. that game is really very interesting...i am playing but no able to get good score. hope i will cross 6000 soon. keep it up
stock valuation
 
What is the difference between par and no par value stock?
IFRA, Advantage
 
there are some disadvantages for USA companies, 1 is below;
Despite a belief by some of the inevitability of the global acceptance of IFRS, others believe that U.S. GAAP is the gold standard, and that a certain level of quality will be lost with full acceptance of IFRS. Further, certain U.S. issuers without significant customers or operations outside the United States may resist IFRS because they may not have a market incentive to prepare IFRS financial statements. They may believe that the significant costs associated with adopting IFRS outweigh the benefits.
IFRA, Advantage
 
By adopting IFRS, a business can present its financial statements on the same basis as its foreign competitors, making comparisons easier. Furthermore, companies with subsidiaries in countries that require or permit IFRS may be able to use one accounting language company-wide. Companies also may need to convert to IFRS if they are a subsidiary of a foreign company that must use IFRS, or if they have a foreign investor that must use IFRS. Companies may also benefit by using IFRS if they wish to raise capital abroad
Ratio Analysis
 
Current ratio is
(current assets / current liabilities)
and Quick or Acid test ratio are the same as of current ratio but only a small difference. the difference is in calculation of current assets where stock will not be included
Edited: Muhammad Zargham Haider - 03/10/2011 10:07
GAAP and IFRS
 
the differences cannot be listed unless for a particular topic or area. however some key differences are as follows;
The biggest difference between U.S. GAAP and IFRS is that IFRS provides much less overall detail. Its guidance regarding revenue recognition, for example, is significantly less extensive than U.S. GAAP. IFRS also contains relatively little industry-specific instructions.
you may noticed that this is only a general difference.
IFRS, Adoption of IFRS
 
Approximately 120 nations and reporting jurisdictions permit or require IFRS for domestic listed companies, although approximately 90 countries have fully conformed with IFRS as promulgated by the IASB and include a statement acknowledging such conformity in audit reports.1 Other countries, including Canada and Korea, are expected to transition to IFRS by 2011. Mexico will require IFRS for all listed companies starting in 2012. Japan has introduced a roadmap for adoption that it will decide on in 2012 (with a proposed adoption date of 2015 or 2016) and is permitting certain qualifying domestic companies to apply IFRS from fiscal years ending on or after March 31, 2010.
Short Term Lease
 
adding to previous
The portion of the underlying asset derecognised would be calculated at the date of inception of the lease as follows:
(Fair value of the right to receive lease payments x Carrying amount of the underlying asset) / Fair value of the underlying asset
The remaining portion of the underlying asset that is not derecognised would be reclassified as the residual asset.
Copy of IFRA, Plz provide
 
mail sent
Dividend, Measurement of divident
 
Measurement of the dividend payable
The liability should be measured at the fair value of the non-cash assets to be distributed. If shareholders have a choice of receiving either a non-cash asset or a cash alternative, the liability should be measured considering both the fair value of each alternative and management’s assessment of the probabilities for each outcome.
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