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Essay Instructions: Part I. Search: Chakrabarty, K.C. (2011). Introduction of International Financial Reporting Standards (IFRS) - Issues and Challenges."Bank for International Settlements. Retrieved May 9, 2011 from http://www.bis.org/review/r110215b.pdf
(n.a.) (2007) Beginner's Guide to Financial Statements, US Securities and Exchange Commission. Retrieved from: http://www.sec.gov/investor/pubs/begfinstmtguide.htm
(n.a.) (1999) Understanding financial statements, Bizzer Professional Training. Retrieved from: http://www.bizzer.com/images/Financial/
(n.a.) Understanding Compilation, Review and Audit, American Institute of Certified Public Accountants. Retrieved from: http://www.raymino.com/understanding_compilation.htm
Discuss each of the following terms or concepts and their significance for the preparation of financial statements. In addition, comment on how the five terms or concepts below relate to each other.
1.Generally Accepted Accounting Principles (US GAAP)
2.International Financial Reporting Standards (IFRS)
3.Norwalk Agreement (October 2002)
4.Generally Accepted Auditing Standards
5.International Auditing and Assurance Standards


Part II. Refer to the following three sets of annual reports which contain the financial statements. Use the latest financial statements -- for the year 2010, if available. First read an overview of the company so you are familiar with the company, its products/services and markets and then review the annual report and supplemental financial statements.

Apple, Inc. http://investor.apple.com/financials.cfm
Swatch Group http://www.swatchgroup.com/en/investor_relations/annual_and_half_year_reports
Nikon http://www.nikon.com/about/ir/ir_library/ar/index.htm

Briefly comment on the companies, the appearance and presentation of the annual reports.
How do the terms and concepts defined in Part I affect the information reported the financial statements listed above?
Make three comparisons and reach three conclusions about each company from the financial information you find in the annual report. Prepare a table to summarize your findings.
Briefly comment on the ability to compare and contrast the information in your table.

Essay Instructions: Find a journal article online about the convergence of International Financial Reporting Standards (IFRS). In the subject include the name of the article. Post a link to that article with your initial post, and provide a summary (approximately 250 words) and a reaction (approximately 150 words) to the article. The summary should describe the major points of the article, and the reaction should demonstrate your interpretation of the article and how you can apply that knowledge. All posts should be grammatically correct and proofread for spelling.

The article should be from a reputable source.

Please include the URL link.

Essay Instructions: As the months go by, European listed companies are discovering the upheavals involved in implementing IAS/IFRS from the FY 2005. The controversy surrounding IAS 39 (recognising and measuring financial instruments) has been a case of missing the wood for the trees - although there is no doubt that this standard is likely to have a major impact on companies in the financial sector, other IAS/IFRS standards are likely to impact just as much on the balance sheets of large industrial or retail groups.
For example there is IAS 22 (business combinations) and IAS 36 (impairment of assets) which will completely overhaul the way goodwill is treated - depreciation is replaced with the impairment test, which means a strict definition of a model for valuing assets acquired, which will make it possible to monitor the assets over several years. Both standards issue a series of recommendations, for the most part indicative, certain aspects of which may be somewhat baffling to valuation experts, but which most importantly are likely to usher in significant changes in the relationship between a company and its auditors.
The aim of this paper/thesis is to analyse the scope of the methodology recommended by these two standards in terms of valuation, and the implications of the imminent introduction thereof for the various actors involved (finance and accounts department within companies, auditors, market authorities, financial analysts, etc.) and their relationships with each other.

Roughly 30 sources are needed, with approximately 40 citations, or quotes, so roughly one per page. In essence, how have things changed for listed European companies now that they must disclose their financial statements according to IFRS (international financial reporting standards)? With special emphasis on goodwill, how has it changed? For example, in Germany companies used to have to disclose according to HGB (Handelsgesetzbuch), which treats goodwill completely differently than does IFRS. How does this affect the way companies disclose their financial statements? is it a big or small impact? Then to talk about how, if at all, the relationships between the actors changes (finance and accounts department within companies, auditors, market authorities, financial analysts, etc.).

Please write me an email should you have any extra questions. Appreciate it.

Essay Instructions: Objectives:
This assignment is designed to improve students’ abilities to:
• conduct meaningful, practical research regarding a specific issue.
• produce clear, persuasive written reports based on well-documented evidence.
• prepare and conduct professional-quality presentations.

Method:
There is a push around the world to use one set of accounting standards. Many of the major capital markets have adopted international financial reporting standards and the U.S. is scheduled to adopt the standards for publicly traded companies by 2014. As part of this course, you will examine international reporting and auditing standards for a country domiciled in a foreign country. You will first choose a publicly traded company in a foreign country that does not use U.S. GAAP as their reporting standards. You will then write a paper that analyzes the accounting standards and financial reporting process used in the country. In the second part of the paper, you will analyze what the reporting requirements mean for the company that you have selected??"including information on reporting objectives, financial statement impact, and disclosure requirements. Finally, you will prepare a PowerPoint presentation and present your findings to your classmates (separate component of grade).

Your report should use at least five credible research sources other than the textbook

Requirements for Written Report:
At a minimum, each report should include the following items:
• Title page
• Abstract
• Introduction
• Body of paper
• Conclusion
• References

Submit your topic selection in the course by the assigned due date. The body of the research paper needs to be a minimum of ten pages, not including the cover page, abstract, or the reference page. It should be typed in Times New Roman or Arial 12 point font with one inch margins. Your paper should reference at least 5 sources other than your textbook. The paper needs to be prepared using APA (in-text parenthetical) documentation style with the appropriate reference citations included. All APA formatting rules will apply to this assignment. Students will need to include a title page, abstract, paper, and reference page


Grading Criteria:
I will use the following criteria to evaluate each written report:

Content (50%)
• Does the report contain all required elements?
• Is the report at least ten pages in length?
• Does the report fully address the assigned topic?
• Does the report provide sufficient evidence to support its claims?

Organization (30%)
• Are all parts of the report in the proper order?
• Are there smooth, logical transitions among all parts?
• Are all paragraphs and sections within the report coherent and logically organized?

Style and Mechanics (20%)
• Is the report written in formal language (that is, free of slang, contractions, clichés, etc.)?
• Is the report completely free of misspelled words and typos?
• Is the report completely free of errors in grammar and punctuation?
• Does the report contain correctly formatted citations in APA style?
• Is the entire document typed in black ink and properly formatted according to the instructions?

There are faxes for this order.