TAILIEUCHUNG - Lecture Financial accounting (3/e): Appendix E - Spiceland, Thomas, Herrmann

Appendix E - International financial reporting standards. After completing this chapter, students will be able to: Explain the reasons for differences in accounting practices across countries, understand the role of the International Accounting Standards Board (IASB) in the development of International Financial Reporting Standards (IFRS), recognize the major differences between . GAAP and IFRS. | International Financial Reporting Standards Appendix E 1 Learning Objectives Explain the reasons for differences in accounting practices across countries Understand the role of the International Accounting Standards Board (IASB) in the development of International Financial Reporting Standards (IFRS) Recognize the major differences between . GAAP and IFRS App E-2 Learning Objective 1 Explain the reasons for differences in accounting practices across countries App E-3 3 The Globalization of Accounting Standards SEC voted to accept IFRS financial statements from “foreign private issuers” without reconciliation US is moving toward converging . GAAP with IFRS Convergence: process by which . GAAP and IFRS will eventually merge to become a single set of accounting standards. App E-4 On November 15, 2007, the . Securities and Exchange Commission voted unanimously to accept from “foreign private issuers” financial statements that are prepared using International Financial Reporting Standards (IFRS) without reconciliation to . generally accepted accounting principles. There is no doubt that the United States is moving toward converging . GAAP with IFRS. Convergence refers to the process by which . GAAP and IFRS will eventually merge to become a single set of accounting standards. But convergence of standards hasn’t happened yet, and much misunderstanding exists about the status and timing of the convergence process. 4 Learning Objective 2 Understand the role of the International Accounting Standards Board (IASB) in the development of International Financial Reporting Standards (IFRS) App E-5 International Financial Reporting Standards (IFRS) International Accounting Standards Committee Created a standard-setting body, (IASB) International Financial Reporting Standards More countries base their account standards on IFRS ISAC ISAB IFRS App E-6 In response to differences in accounting standards and practices across countries, the International Accounting .

• Kế toán - Kiểm toán
• Financial accounting
• Lecture Financial accounting
• The accounting cycle
• Financial statement
• International financial reporting standards
• Accounting information system
• Issues in financial accounting
• Kế toán tài chính
• Financial statements
• Accounting standards
• Financial reporting
• Financial Accounting Standards Board
• Fundamental financial accounting
• Lecture Fundamental financial accounting concepts
• Accounting cycle
• Accounting for accruals
• Accounting system
• Accounting activities
• Financial accounting practice
• Accounting terminology
• Reporting financial results
• Evaluating liquidity
• Business firms
• The financial reporting reform
• Accounting information
• Management accounting
• Accounting equation
• Accounting systems
• Decision making
• External financial reporting
• Accounting for business
• Lecture Accounting for business
• Financial accounting reports
• Statement of financial performance
• Accrual accounting systems
• Statement of financial position
• Mastering financial accounting essentials
• Financial accounting essentials
• Accrual accounting
• Income statement
• Accounting conventions
• Internal control
• Accounting for cash
• Accounting for receivables
• Computing uncollectible accounts expense
• Long term debt
• Accounting for long term debt
• Paper F3
• Revision kit 2016
• Accounting Financial
• Accounting Financial Review
• Financial Review accounting exam
• Study text 2016
• Language of business
• Double entry accounting system
• Credit terminology
• Merchandising businesses
• Accounting for merchandising businesses
• Accounting for inventories
• Cash discounts
• Completing the accounting cycle
• Accounting worksheet
• Classified balance sheet