Download or read book GAAP Convergence Or Convergence Gap written by Lisa Baudot and published by . This book was released on 2014 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper adds to the literature on accounting change in explaining a decade-long effort by the FASB and IASB to develop a set of global accounting standards accepted by markets worldwide. This research studies the effort as one of “convergence” in accounting standards and aims to bring theoretical and empirical clarity as to how we can conceptualize the notion of convergence. In doing so, it informs the global standard-setting community of the evolution of convergence and the factors which impact that evolution by revealing the influence of various institutions, actors and events over time. Through a longitudinal study of 23 key FASB-IASB projects undertaken between 2002 and 2011, this paper analyzes processes of accounting change using a blend of institutional theory and political economy. A process perspective provides a method to unfold variants of accounting change by identifying patterns that help us to understand the conditions for and characteristics of convergence. I highlight specific variants of accounting change observed during the convergence effort - direct emulation, difference reduction and progressive redesign - as analogous to institutional processes. Where direct emulation and difference reduction reflect institutional processes of imitation and editing or translation, respectively, I show how progressive redesign of accounting standards goes beyond these classical categorizations to encompass the notion of 'institutional co-construction' (Djelic, 2008). Further, I identify the impact of the competitive and cooperative conditions under which the FASB-IASB convergence effort operated and reveal how these conditions were influenced by the macro-level economic and political developments occurring over the period.
Download or read book GAAP Vs GAAP U S Convergence to International Accounting Standards written by André R. S. Mitchell and published by . This book was released on 2008 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Opening Strategy written by Richard Whittington and published by Oxford University Press. This book was released on 2019-03-21 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Strategy is becoming more 'open' - more transparent and more inclusive. Opening Strategy tells the story of how corporate strategists and strategy consultants have worked since the middle of the last century to open up the strategy process. First strategic planning, then strategic management, and now 'open strategy' have all brought more people into the strategy process and provided more strategic information, for the benefit of both business and society at large. Informed by interviews with corporate strategists and consultants at leading firms such as General Electric and McKinsey & Co, and drawing on the historical archives of strategy's pioneers, this book provides vivid insights into the trials and tribulations of practice change in the strategy profession. Above all, it stresses the hard work of the little recognized and sometimes eccentric individuals who have been leaders in practice change. By building on a wide range of illustrations, covering both successes and failures, the book draws out general lessons for practice innovation in strategy. Those studying the topic will be able to set standard strategy techniques in historical and social context and develop new areas for investigation, while practising executives and consultants should gain a sense of how to innovate in strategy - and how not to.
Download or read book GAAP to IFRS Convergence written by Elena V. Luce and published by . This book was released on 2016 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book U S GAAP Versus International Accounting Standards written by Kendra Huff and published by . This book was released on 2002 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The European U S GAAP Gap written by Elaine Henry and published by . This book was released on 2008 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study evaluates the extent to which the FASB and IASB convergence projects and the EU-wide adoption of IFRS have impacted the differences between firms' financial results under U.S. GAAP and IFRS. Using 2004 to 2006 reconciliation disclosures of 75 EU cross-listed firms, we find that the average gap between U.S. GAAP and IFRS income and between U.S. GAAP and IFRS shareholders' equity declined from 2004 to 2006, consistent with convergence, though the net income gap remains significant. Although both pensions and goodwill are included in the convergence projects, these adjustments appear to be the dominant reconciliation items. Across the EU, net income and shareholders' equity reconciliation amounts differ significantly by industry and by legal origin of the firm's home country, raising questions about the homogeneity of IFRS as implemented. Furthermore, most firms report IFRS net income (shareholders' equity) higher (lower) than U.S. GAAP net income (shareholders' equity), with the result that 28 percent of the sample firms' 2006 ROE under IFRS is more than 5 percentage points higher than under U.S. GAAP, while fewer than 10 percent of the sample report ROE more than 5 percentage points lower. Finally, shareholders' equity reconciliations and income reconciliations appear value-relevant, although results are somewhat sensitive to model specification. Overall, our findings indicate that significant numerical differences still exist between results under IFRS and U.S. GAAP, despite convergence. In light of the SEC's elimination of the requirement for reconciliations between the two sets of standards and the potential adoption of provisions allowing U.S. firms to choose between the standards, investors and other financial statement users should be aware of the significant numerical differences.
Download or read book GAAP Convergence 2002 written by BDO. and published by . This book was released on 2003* with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Growth of Shadow Banking written by Matthias Thiemann and published by Cambridge University Press. This book was released on 2018-05-31 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 'shadow banking system' refers to a system of credit-provision occurring outside of the official regulatory perimeter of commercial banks. Facilitated by securitization vehicles, mutual funds, hedge funds, investment banks and mortgage companies, the function and regulation of these shadow banking institutions has come under increasing scrutiny after the subprime crisis of 2007–8. Matthias Thiemann examines how regulators came to tolerate the emergence of links between the banking and shadow banking systems. Through a comparative analysis of the US, France, the Netherlands and Germany, he argues that fractured domestic and global governance systems determining the regulatory approach to these links ultimately aggravated the recent financial crisis. Since 2008, shadow banking has even expanded and the incentives for banks to bend the rules have only increased with increasing regulation. Thiemann's empirical work suggests how state-finance relations could be restructured to keep the banking system under state control and avoid future financial collapses.
Download or read book Count Down written by Jim Peterson and published by Emerald Group Publishing. This book was released on 2017-07-03 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Enron killed Arthur Andersen in 2002, leaving only Deloitte, EY, KPMG and PwC. Now the Big Four, with a total revenue of $127 billion, face major threats that need immediate attention. Count Down looks at today’s model and proposes a new Big Audit, fit to serve the capital markets of the 21st century.
Download or read book Indigenous Management Practices in Africa written by Uchenna Uzo and published by Emerald Group Publishing. This book was released on 2018-08-10 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: Africa is fast becoming an investment destination for firms operating outside the continent, and effective management is central to the realization of organizational goals. This volume evaluates the need for management philosophies and theories that reflect the peculiarities of the African continent.
Download or read book Globalisation of Accounting Standards written by Jayne Maree Godfrey and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, Jayne Godfrey and Keryn Chalmers explore the intricacies of the globalisation of accounting standards - arguably one of the most significant business developments of the wider globalisation process during the past two decades. They examine the key issues and implications of this harmonization of accounting standards from the perspectives of a diverse range of worldwide stakeholders. "Globalisation of Accounting Standards" shows that globalisation approaches differ significantly because countries seek to maintain varying degrees of sovereignty over their regulations. International differences in economic, political, legal, religious and social characteristics also affect globalisation approaches and, in turn, influence national accounting standard-setting agendas. The book explores why countries relinquish their existing national accounting standard-setting regimes to join the global movement. It also seeks to resolve questions such as: To what extent are national incentives altruistic, economic, political or social? Who are the winners and losers in the process? This authoritative book is thoroughly researched and expertly informed. Written by both academics and regulators, it tackles a critical and controversial issue in the globalisation movement. As such, it will be of great interest to a wide-ranging audience including: international, national, private and public sector standard-setters, economic regulators, accounting academics and political economists and strategists.
Download or read book GAAP Convergence with IFRS written by Calandria Herring and published by . This book was released on 2021 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Bridging the GAAP written by Zvi Wiener and published by World Scientific. This book was released on 2012 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bridging the GAAP: Recent Advances in Finance and Accounting lies at the intersection of the two disciplines. The readings in this volume bridge the gap between finance and accounting by looking at diverse topics in accounting and finance and by providing interesting points of view regarding their interface. Most of the chapters concentrate on the topic of fair value accounting and on the extent to which accounting numbers mirror the financial situation of the firm. This book combines new developments in the areas of theoretical and empirical finance and accounting, and emphasizes the convergence of these two disciplines to better serve researchers, investors and the general public. The papers contained in this volume will help scholars, practitioners and investors better understand the similarities and differences between these two important fields of study.
Download or read book International GAAP 2008 written by Ernst & Young LLP and published by John Wiley & Sons. This book was released on 2008-03-31 with total page 3424 pages. Available in PDF, EPUB and Kindle. Book excerpt: IFRSs, the standards set by the International Accounting Standards Board (IASB), are complex and sometimes obscure. Understanding their implications and applying them appropriately requires something special....and that is why International GAAP 2008 is the essential tool for anyone applying, auditing, interpreting, regulating, studying and teaching international financial reporting. It provides expert interpretation and practical guidance for busy professionals, and includes, in every chapter, detailed analysis of how complex financial reporting problems can be resolved appropriately and effectively. International GAAP 2008 is the only globally focused work on IFRSs. It is not constrained by any individual country’s legislation or financial reporting regulations, and it ensures an international consistency of approach unavailable elsewhere. It shows how difficult practical issues should be approached in the new complex global world of international financial reporting, where IFRSs have become the accepted financial reporting system in more than 120 countries. This integrated approach provides a unique level of authoritative material for anyone involved in preparing, interpreting or auditing company accounts, for regulators, academic researchers and for all students of accountancy. The International Financial Reporting Group of Ernst & Young includes financial reporting specialists from throughout the world. Complex technical accounting issues are explained clearly in a practical working context that enables immediate understanding of the point at issue. International GAAP 2008 is accompanied by numerous worked examples, a comprehensive discussion of the practical issues of the day and the possible alternative solutions available, and hundreds of practical illustrations taken from the actual financial statements of companies that report under IFRSs. The only globally focused work on IFRS giving an international consistency of approach unavailable elsewhere This new and essential volume of practical guidance and expert interpretation deals with every aspect of applying International Financial Reporting Standards (IFRS) appropriately and effectively Written by financial reporting experts from the International Financial Reporting Group of Ernst & Young Includes a new chapter on Extractive Industries (mining, oil & gas), the biggest industry sector in the world This new edition in the International GAAP® series serves as a successor to the same authors’ market-dominating UK GAAP and UK & International GAAP "an important part to play in the process of promoting consistent, comparable and high quality financial reporting under IFRSs ... a book that not only provides an analysis of the requirements of the standards and the principles that they expound, but also presents a unique explanation of how the standards should be interpreted and applied in practice." —the Chairman of Trustees of the IASC Foundation Praise for previous editions in the International GAAP series: "A standard reference work" —Financial Times "The definitive guide to financial reporting" —The Times
Download or read book Pick a Number written by Roger Hussey and published by Business Expert Press. This book was released on 2014-09-08 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: For many years, individual countries created their own rules and regulations for company financial accounting and reporting. As the world became more global, problems began to arise. A company could make a profit for the year if the rules in its own country were applied, but this could turn into a loss if another country’s rules were used. To prevent this confusing and misleading state of affairs, standards were issued by the International Accounting Standards Board (IASB). Since 2002, the standard setter in the United States, the Financial Accounting Standards Board (FASB), has been actively engaged with the IASB in attempting to converge U.S. regulations with international accounting standards. This book describes: • The process for setting accounting regulations in the United States • Attempts to establish international standards and the barriers confronted • U.S. involvement in international activities through a process known as convergence • Differences that have halted convergence and the U.S. strategy • Frauds and questionable activities and describes the FASB’s efforts to ensure that financial statements do not mislead their users
Download or read book Wiley International Trends in Financial Reporting under IFRS written by Abbas A. Mirza and published by John Wiley & Sons. This book was released on 2012-10-05 with total page 1001 pages. Available in PDF, EPUB and Kindle. Book excerpt: Wiley International Financial Reporting Trends provides copious examples of footnote disclosures and financial statement formats, carefully culled from the world's leading international companies ("Global 500") that are already compliant with IFRS and report under IFRS standards promulgated by the International Accounting Standards Board, the IASB. Arranged topically, this book is a quick source of reference to find answers to issues of interest to financial statement preparers. It provides hundreds of illustrations taken from financial statements prepared under IFRS by global conglomerates thereby helping preparers and users of financial statements to expeditiously obtain examples of footnote disclosures and financial statements presented under these Standards which are popularly referred to as "principles-based" standards (as opposed to "rules-based" standards). Additionally, Wiley International Financial Reporting Trends contains comparisons of IFRS to US GAAP, Indian GAAP, and Chinese GAAP, making it a truly global reference resource.
Download or read book Bridging The Gaap Recent Advances In Finance And Accounting written by Itzhak Venezia and published by World Scientific. This book was released on 2012-03-20 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bridging the GAAP: Recent Advances in Finance and Accounting lies at the intersection of the two disciplines. The readings in this volume bridge the gap between finance and accounting by looking at diverse topics in accounting and finance and by providing interesting points of view regarding their interface. Most of the chapters concentrate on the topic of fair value accounting and on the extent to which accounting numbers mirror the financial situation of the firm. This book combines new developments in the areas of theoretical and empirical finance and accounting, and emphasizes the convergence of these two disciplines to better serve researchers, investors and the general public. The papers contained in this volume will help scholars, practitioners and investors better understand the similarities and differences between these two important fields of study.
