User Account

All Pages

What do you believe to be key differences in cpccs results

Assignment Help Accounting Basics
Reference no: EM131175392

Discussion- International Accounting

China Petroleum and Chemical Corporation (CPCC) is an oil and gas company based in Beijing, China. Read the case on pages 329-336 of your book, which goes into detail about how CPCC "provides a reconciliation of income and stockholders' equity from Chinese GAAP to IFRS." Meanwhile, for North American shareholders, "the company also provides a reconciliation of net income and stockholders' equity from IFRS to U.S. GAAP." Once you have read the case in its entirety, create an initial post that addresses the following:

1. What do you believe to be the key differences in CPCC's results between:

o PRC GAAP and IFRS?
o IFRS and U.S. GAAP?

2. For CPCC's international audience, should readers of these financial statements in the United Kingdom find the information useful? How about readers from the United States? Explain why or why not.

3. Would you recommend that other companies adopt the multiple standards approach taken by CPCC? Explain why you are making your recommendation.

Your initial post should thoroughly address the questions above and be supported with research. Be sure to properly cite your reference(s).

Reference no: EM131175392

Questions Cloud

Diffie-hellman system to fix a common key : They use GF(p), with p = 54 and primitive element α = 2 User B makes cB = 123 public. If MA = 432 what will be the common key kAB that A and B use for their communication?
What will this mean for the income and risk of the company : What will this mean for the income and risk of the company? How will foreign currency exchange rates impact financial statements? Make recommendations for tools or strategies the company could use to help mitigate these risks.
The best estimate of the stocks current market value : Nachman Industries just paid a dividend of D0 = $1.32.- What is the best estimate of the stock's current market value?
Will the buyer succeed in recovering the excess : The buyer didn't commence action to recover the excess payment until some nine months after delivery.- Will the buyer succeed in recovering the excess?
What do you believe to be key differences in cpccs results : What do you believe to be the key differences in CPCC's results between PRC GAAP and IFRS? IFRS and U.S. GAAP? How about readers from the United States? Explain why or why not.
Discuss the process for developing interview questions : Discuss the process for developing interview questions for an hourly position (e.g., a receptionist, data entry operator, customer service representative, etc.) and a specialist position
What conflict styles did each employee present : Discuss their views on the proper roles of the state and how they might compare to the US state (government) today. Do you think the philosophers would agree with the current structure of the American government? Why or why not?
What is your overall impression of whole foods market inc : What is your overall impression of Whole Foods Market, Inc.'s annual report? Is it a financial accounting document or a managerial accounting document?
Create a deductively valid argument of the position : Identify the components and structure of argument by presenting deductively valid argument in standard form, and explain how your conclusion follows from your premises.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Morgan company is considering a capital investment of

morgan company is considering a capital investment of 180000 in additional productive facilities. the new machinery is

  Greatest disadvantage of experiments is that scientists

A researcher is interested in studying the effects of aging on memory, but data gathered using the cross sectional design may also include the effects of

  If primrose lowered inventories and receivables by 10 each

if primrose lowered inventories and receivables by 10 each and increased payables by 10 if sales and cogs remain the

  Effect on the price and quantity of minivans

Consider the market for minivans. For each of the events listed here, identify which of the determinants of demand or supply are affected. Also indicate whether demand or supply increases or decreases. Then draw the diagram to show the effect on t..

  My proposal to research as a cultural anthropologist

I would propose that research is done on success, and how to enhance the educational experience that would help develop a well rounded individual to succeed in any culture of choice.

  Projects to choose from funds are limited so you can choose

projects to choose from. funds are limited so you can choose only one of the three projects. describe at least three

  The maintenance departments costs are allocated to other

the maintenance departments costs are allocated to other departments based on the number of hours of maintenance use by

  Close of the budget period

Surveying the accounts payable records, a clerk in the controller's office noted that expenses appeared to rise significantly within a month of the close of the budget period. The organization did not have a seasonal product or service to explain ..

  Prepare the journal entries to recognize depreciation

Prepare the journal entries to recognize depreciation for each of the five years, assuming that the company uses

  Give compound annual growth rates for key categories

Give compound annual growth rates for key categories (such as revenue, but you must decide which others will contribute to your understanding of the company )

  St joseph hospital has overall variable costs of 30 of

st. joseph hospital has overall variable costs of 30 of total revenue and fixed costs of 42 million per year. compute

  Find the work done in stretching the spring

A spring of natural length 12 in. requires a force of 6.0 lb to stretch it 2.0 in. See Fig. 26.64. Find the work done in stretching it 6.0 in. From Hooke's law, we find the constant for the spring, and therefore f(x)  as

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd