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Conduct research and write a 2–3 page paper addressing the following Topic: International Financial Reporting Standards. International Financial Reporting Standards (IFRS) are formulated by the International Accounting Standards Board (IASB), which is a body representing accountants and other interested parties from different countries. While IFRS is not currently applicable in the United States, there is mounting pressure on the SEC to accept the standards in one form or another. MSF practitioners need to be aware of the growing influence of IFRS outside the United States. For example, foreign companies listed on U.S. exchanges need to reconcile IFRS-based numbers with U.S. GAAP. The FASB is currently involved in a joint project with the IASB-called the “convergence” project-that aims to eventually eliminate all differences between the two sets of standards. Considerable progress has been achieved to date in this direction. In terms of understanding competitiveness and collaboration in a global economy, research, explore, and discuss the “Norwalk Agreement” between the FASB and the International Accounting Standards Board (IASB). What are the key initiatives of the Norwalk Agreement to further the goal of the convergence of U.S. GAAP with International Financial Reporting Standards? In a paper, discuss the joint projects being conducted with the IASB to address Revenue Recognition and Business Combinations. Please cite at least two sources used.
The Card Shoppe needs to maintain 20 percent of its sales in net working capital. Currently, the shoppe is considering a 6-year project that will increase sales from its current level of $379,000 to $421,000 the first year and to $465,000 a year for ..
Discuss the sources of the companys competitive advantage - Is the company likely to maintain these competitive advantages over time? What is it or can it do to stay competitive?
Your company is interested in acquiring a competitor. The acquisition cost is estimated at $5 to $6 billion. The marketing manager has reported that the business opportunity is $50 billion, assuming ten years of sales at $5 billion per year in presen..
Suppose you held a diversified portfolio consisting of a $7,500 investment in each of 20 different common stocks. The portfolio's beta is 0.94. What would your portfolio's new beta be?
An investment that has a nominal rate of 6% with semi annual payments will have an effective rate that is smaller than 6%. The present value of a 3-year, $150 ordinary annuity will exceed the present value of a 3-year, $150 annuity due. If a loan has..
What are the major asset categories for banks? Identify the most important category. What are the bank's major liabilities and which category is the largest in size? 3. What is mean by bank liquidity and bank solvency?
Stock XYZ pays dividends of $2 every three months, namely at T1 = 2/12, T2 = 5/12, T3 = 8/12, . . .. Consider a forward contract on XYZ with maturity T = 9/12, i.e 9 months. If S0 = 200, F = 200 and r = 0.04, construct an arbitrage strategy to exploi..
Assume XYZ stock is currently at S = $100. After one period, the price will move to one of the following two values: [uS and dS], where [u = 1.2; d = 0.9]. A $1.00 investment in the risk-free asset using continuous compounding will return $1.10 at th..
Prepare a pro forma balance sheet for the first twelve months of your business. Include the assumptions on which it is based. Justify your balance sheet.
An income statement may be represented as follows
The Qualified Thrift Lender test requires that thrifts
The 7.5 percent preferred stock of Rock Bottom Floors is selling for $60 a share. What is the firm's cost of preferred stock if the tax rate is 35 percent and the par value per share is $100?
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