How financial report of goverment is different and similar to business Financial Reporting? How the financial...

How financial report of goverment is different and similar to business Financial Reporting? How the financial reporting of a government unit is helpful to various stakeholders?

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ekkarill92 answered 2 years ago

U.S. GAAP and International Financial Reporting Standards have largely similar guidance for accounting for business combinations....

U.S. GAAP and International Financial Reporting Standards have largely similar guidance for accounting for business combinations. Under IFRS, the guidance is established in IFRS 3R, Business Combinations. One topic on which U.S. and IFRS differ is with respect to reporting noncontrolling interest for noncontrolling interest in consolidated financial statements. Required Briefly, i.e. no more than 3 paragraphs, explain the difference between IFRS and U.S. GAAP regarding valuation of noncontrolling interest in a consolidated financial statement.

What justifies the markedly different accounting and financial reporting practices of governments as compared with business...

What justifies the markedly different accounting and financial reporting practices of governments as compared with business organizations? What are the differences that distinguish governments from business organizations? What are some of the differences in accounting standards between governments and business organizations?

The FASB's objectives for financial reporting in SFAC are similar in some ways to the Trueblood...

The FASB's objectives for financial reporting in SFAC are similar in some ways to the Trueblood Report but differ in numerous respects. What are the major differences in the two documents? Does the FASB's attempt provide a more reasonable general framework given the politicized environment in which the FASB must operate? How does Chapter 1 of the joint conceptual framework differ from these documents and what does it say about financial reporting standard setting going forward? (SFAC 8, which includes...

The FASB's objectives for financial reporting in SFAC are similar in some ways to the Trueblood...

The FASB's objectives for financial reporting in SFAC are similar in some ways to the Trueblood Report but differ in numerous respects. What are the major differences in the two documents? Does the FASB's attempt provide a more reasonable general framework given the politicized environment in which the FASB must operate? How does Chapter 1 of the joint conceptual framework differ from these documents and what does it say about financial reporting standard setting going forward? (SFAC 8, which includes...

How are abortion and eugenics similar? How are they different?

How iOS and Android similar and How are they different?

How would the four different approaches to the financial reporting of investments in corporate equity securities...

How would the four different approaches to the financial reporting of investments in corporate equity securities be used in practice working for a firm? How would understanding the various forms of business combinations (ie statuary merger, statuary consolidation etc) help in real-life practice give an example?

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How financial report of goverment is different and similar to business Financial Reporting? How the financial...

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U.S. GAAP and International Financial Reporting Standards have largely similar guidance for accounting for business combinations....

What justifies the markedly different accounting and financial reporting practices of governments as compared with business...

The FASB's objectives for financial reporting in SFAC are similar in some ways to the Trueblood...

The FASB's objectives for financial reporting in SFAC are similar in some ways to the Trueblood...

How are abortion and eugenics similar? How are they different?

How iOS and Android similar and How are they different?

How would the four different approaches to the financial reporting of investments in corporate equity securities...

In general terms, how is financial reporting different in the Anglo-Saxon model of accounting from the...

Why don’t goverment report on one basis of accounting, instead of two?

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