Reference no: EM132494426
PART A.
The US and International Financial Accounting Standards Boards (FASB and IASB) have been moving towards replacing historical-cost with fair-value of market-based measures accounting (Benston, 2006). This shift in measurement paradigms is driven by the presumed decision relevance (Hitz, 2007). However, some regard the practice of fair valuing assets as a contributing factor to rapid spread of the global financial crisis (Godfrey et al., 2010). In fact, the European (EU) banks claimed that fair value would introduce volatility into their financial statements (Scott, 2015).
REQUIRED:
Question 1: Evaluate the merit of concern of the European (EU) banks about financial statement volatility introduced by fair value accounting by considering the effects on both the Statement of Financial Position and Statement of Comprehensive Income.
PART B.
Malaysian companies are being called on to adopt Integrated Reporting <IR>, as part of the Malaysian Corporate Governance Code 2017 launched by the Securities Commission Malaysia. The International Integrated Reporting Council (IIRC) has welcomed this launch, which is an important development in a country which is using corporate reporting and governance reform to accelerate its ambition to achieve developed economy status by 2020. IIRC explained that <IR> applies principles and concepts that are focused on bringing greater cohesion and efficiency to the reporting process, and adopting 'integrated thinking' as a way of breaking down internal silos and reducing duplication. Through <IR>, organisations are able to tell a clear, concise, and integrated story to the stakeholders on value creation from their resources.
REQUIRED:
Question (a) What is Integrated Reporting <IR>?
Question (b) State the aim(s) of Integrated Reporting <IR>.
Question (c) Identify parties that may benefited from Integrated Reporting <IR>.
Question (d) Differentiate between traditional financial reporting, Sustainability reporting and Integrated Reporting <IR>.
|
What is the cost of the truck
: Accident insurance $2,000, sales taxes $2,100, motor vehicle license $100, and painting and lettering $400. What is the cost of the truck?
|
|
What amount must be earned by the partnership
: What amount must be earned by the partnership, before any charge for interest and salaries, so that Anatalio may receive an aggregate of P12,500
|
|
How perceptions of the interviewee influence health behavior
: Discuss how the perceptions of the interviewee influence his or her health behavior, including when he or she seeks help and the type of practitioner.
|
|
What is the expected return on the stock
: If Sheridan Shoes issues an additional $15 million of common stock and uses this money to retire debt, what is the expected return on the stock?
|
|
What is integrated reporting
: Differentiate between traditional financial reporting, Sustainability reporting and Integrated Reporting . What is Integrated Reporting?
|
|
Post a description of potential benefit of using big data
: Post a description of at least one potential benefit of using big data as part of a clinical system and explain why. Then, describe at least one potential.
|
|
Identify two different stock exchanges in the united states
: Identify two different stock exchanges in the United States. Describe the similarities and differences between the two stock exchanges.
|
|
Explain the reasons why the net present value method
: Explain the reasons why the Net Present Value method is the most superior method of project evaluation.
|
|
What do think as a concern for small business owners
: You can still claim full credit for withholding on your tax return. What do you think of this as a concern for small business owners and officers?
|