International Accounting Regulations and Practices
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목차
1. Introduction -The nature of the company2. Comparison in accounting standard and regulation -PPE, Revenue, Intangible asset
3. Financial reporting and regulatory environments
4. Factors in the determination of the accounting practices -political, legal, social
5. Theoretical benefits in adopting IFRS standards
6. Conclusion
7. Reference
본문내용
Considering the major trend of globalisation in the world economy and internationalization, international trade and investment continue to grow and this requires fully understanding and better interpretation of accounting regulation and standards in different countries. This report focuses on how different accounting standards operate in different countries and how different accounting regulations affect the measurement, recognition and disclosure of accounting information which may have a great impact on increasing cross-border business. This report contains the comparison of two actual firms which are selected from the airline industry.<중 략>
This will allow them to streamline their operations, reporting standards, auditing, training, development and company standards. Whether domestic or global, their offices could adapt similar standards and reporting techniques, giving them precise and consistent company records and reporting. If IFRS adaptation is ruled to be optional before a set date, a company can gain a large advantage if they were to adopt the reporting standards early because they would be giving themselves a head start on using and becoming familiar with the system.
참고 자료
Internationalism & International accounting, Dr. Keong ChoongDelta air lines on Wikipedia http://en.wikipedia.org/wiki/Delta_Air_Lines
Qantas air lines on Wikipedia http://en.wikipedia.org/wiki/Qantas
IFRS for SEMs- U.S. GAAP comparison wiki http://wiki.ifrs.com/
Year 2011 annual report for Delta Air Lines , Delta Air Lines
Year 2011 annual report for Qantas, Qantas.
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Economic Benefits of Adopting IFRS or US-GAAP: Have the Expected Costs of Equity Capital really decreased? Holger Daske.
Introduction to IFRS-US GAAP difference, Alfred Popken &Lewis Dulitz, 11/02/2008.
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