TAILIEUCHUNG - Lecture International accounting (4/e): Chapter 3 - Timothy Doupnik, Hector Perera

Chapter 3 - International convergence of financial reporting. After completing this chapter, students will be able to: Explain the meaning of convergence, identify the arguments for and against international convergence of financial reporting standards, discuss major harmonization efforts under the IASC,. | Chapter 3: International Convergence of Financial Reporting Learning Objectives Explain the meaning of convergence Identify the arguments for and against international convergence of financial reporting standards Discuss major harmonization efforts under the IASC Explain the principles-based approach used by the IASB in setting accounting standards Describe the proposed changes to the IASB’s Framework Discuss the IASB’s Standards related to the first-time adoption of IFRS and the presentation of financial statements Describe the support for, and the use of, IFRS across countries 3-2 Learning Objectives Examine the issues related to international convergence of financial reporting standards Describe the progress made with regard to IASB/FASB convergence project Explain the meaning of “Anglo-Saxon” accounting 3-3 International Accounting Standard-setting Evolution of IASC and IASB shows international accounting standard-setting in the private sector: With the support of the accounting bodies, standard-setters, capital market regulators, government authorities, and financial statement preparers Harmonization allows countries to have different standards as long as they do not conflict Accounting harmonization considered in two ways Harmonization of accounting regulations or standards Harmonization of accounting practices 3-4 International Accounting Standard-setting Other factors leading to noncomparable accounting numbers despite similar accounting standards Quality of audits Enforcement mechanisms Culture legal requirements Socioeconomic and political systems International convergence of accounting standards refers to both a goal and the process adopted to achieve it 3-5 Harmonization and Convergence Harmonization Reduction of alternatives while maintaining a high degree of flexibility in accounting practices Convergence Enforcement of single set of accepted standards by several regulatory bodies 3-6 Harmonization Can be considered in two ways Harmonization of .

• Kế toán - Kiểm toán
• International accounting
• Lecture International accounting
• International convergence
• Financial reporting
• International accounting standard
• International federation of accountants
• Lesson International Accounting
• International accounting main contents
• Main contents
• Accounting standards
• Comparative accounting
• Accounting environment
• Accounting profession
• Accounting regulation
• Auditing research
• Accounting research
• International research
• Environment of international research
• International accounting environment
• International accounting standards board
• Chuẩn mực kế toán quốc tế
• International Accounting Standard 8
• Accounting policies
• Accounting estimates
• Borrowing costs
• Kế toán quốc tế
• Bài giảng Kế toán quốc tế
• International taxation
• International business decisions
• Corporate income tax
• Tax jurisdiction
• Corporate governance
• International trends
• International diversity
• The adjusting process
• Accrual accounting versus cash basis
• Other accounting principles
• Two categories of adjusting entries
• The adjusted trial balance
• Completing the accounting cycle
• The worksheet
• Closing the accounts
• Classifying assets
• Liabilities and payrol
• Current liabilities of known amount
• Current liabilities
• Accounting for payroll
• Worldwide accounting diversity
• Accounting diversity
• Inflation accounting
• Inflation accounting internationally
• Consolidated financial statements
• Foreign capital markets
• Financial statements
• International harmonization
• Comparative international accounting
• International differences
• International classification
• International Accounting Standard 39
• Financial instruments
• Financial liability
• Financial assets
• Merchandise inventory
• Accounting principles
• Inventory costing methods
• Inventory accounting
• Government grants
• Accounting for government grants
• International Accounting Standard 20
• Government assistance
• International business
• Foreign customer
• International financial reporting standards
• Intangible assets
• International transfer pricing
• Cost minimization
• International corporate social reporting
• Corporate social reporting