Question

In: Accounting

Like International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS) also play important role...

Like International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS) also play important role to foster transparency and promote public trust. Applicable to public sector accounting and financial reporting, the IPSAS are, for the most part, based on the IFRS. It is expected that, by the time, IPSAS will be eventually converged with IFRS. This is to ensure that the financial reports generated by the private and the public sectors are comparable in terms of accounting for similar types of transactions.
Required:
In view of above and considering yourself as a Management Accountant, give a presentation on the above topic covering the following points:

 The brief numbers and names of IPSAS
 Comparison of Statement of Cash Flows under IAS 7 and IPSAS 2

Please just give me key points for presenation preprration..

Thanks

Solutions

Expert Solution

ekkarill92 answered 2 years ago
Next > < Previous

Related Solutions

Like International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS) also play important role...
Like International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS) also play important role to foster transparency and promote public trust. Applicable to public sector accounting and financial reporting, the IPSAS are, for the most part, based on the IFRS. It is expected that, by the time, IPSAS will be eventually converged with IFRS. This is to ensure that the financial reports generated by the private and the public sectors are comparable in terms of accounting for similar...
Like International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS) also play important role...
Like International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS) also play important role to foster transparency and promote public trust. Applicable to public sector accounting and financial reporting, the IPSAS are, for the most part, based on the IFRS. It is expected that, by the time, IPSAS will be eventually converged with IFRS. This is to ensure that the financial reports generated by the private and the public sectors are comparable in terms of accounting for similar...
The International Financial Reporting Standards (IFRS), issued by the International Accounting Standards Board (IASB: www.ifrs.org) has...
The International Financial Reporting Standards (IFRS), issued by the International Accounting Standards Board (IASB: www.ifrs.org) has been increasingly adopted around the world. The United States Securities and Exchange Commission (SEC: www.sec.gov ), in 2008, issued the publication: “Roadmap for the Potential use of Financial Statements Prepared in Accordance with International Financial Reporting Standards by US Issuers”. This Roadmap presented necessary steps to be taken for US to adopt IFRS starting 2014 and to be completed by 2016. Use the Internet...
Use International Financial Reporting Standards. Research IFRS 28 and IFRS 9 in the accounting for investments...
Use International Financial Reporting Standards. Research IFRS 28 and IFRS 9 in the accounting for investments to answer the following questions related to Yahoo!’s investment on Alibaba Group (assume the fair value option is not elected): No calculation needed. a. How should Yahoo! recognize and measure its 46 percent ownership in Alibaba Group for the fiscal year ended December 31, 2005? b. How should Yahoo! recognize and measure its 24 percent ownership in Alibaba Group for the year ended December...
The Volkswagen Group adopted International Accounting Standards (IAS, now International Financial Reporting, or IFRS) for its...
The Volkswagen Group adopted International Accounting Standards (IAS, now International Financial Reporting, or IFRS) for its 2001 fiscal year. The following is taken from Volkswagen’s 2001 annual report. It discusses major differences between the German Commercial Code (HGB) and IAS as they apply to Volkswagen. General: In 2001 VOLKSWAGEN AG has for the first time published its consolidated financial statements in accordance with International Accounting Standards (IAS) and the interpretations of the Standing Interpretations Committee (SIC). All mandatory International Accounting...
International Financial Reporting Standards (IFRS) do not allow companies that follow the accounting rules to use...
International Financial Reporting Standards (IFRS) do not allow companies that follow the accounting rules to use LIFO for financial reporting. Your post should explain two things: 1. Why do you think LIFO is not allowed by IFRS but is allowed by GAAP in the United States? 2. Another area of accounting rules where there is a significant difference between US GAAP and International Financial Reporting Standards. Please include the reference where you found information to form your opinion in 1...
US generally accepted accounting principles(GAAP) is similiar but not identical to International Financial Reporting Standards (IFRS)....
US generally accepted accounting principles(GAAP) is similiar but not identical to International Financial Reporting Standards (IFRS). Please compare and contrast their financial accounting guidelines. Typed answer please.
The International financial reporting standards (IFRS) encourage ASX listed companies to use fair value accounting (FVA)...
The International financial reporting standards (IFRS) encourage ASX listed companies to use fair value accounting (FVA) replacing the historical cost accounting (HCA) for valuing noncurrent assets. Use peer reviewed academic research to decide if FVA (claiming to have more value relevance) should totally replace HCA.?more than 650 words?
What Will The International Financial Reporting Standards (IFRS) Mean to Businesses and Investors? What are the...
What Will The International Financial Reporting Standards (IFRS) Mean to Businesses and Investors? What are the new standards and how have they evolved?
1. What are the differences between International Financial Reporting Standards (IFRS) and GAAP in terms of...
1. What are the differences between International Financial Reporting Standards (IFRS) and GAAP in terms of business liquidation and reorganization?
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT