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International Financial Reporting Standards
International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB). They constitute a standardised way of describing the company's financial performance and position so that company financial statements are understandable and comparable across international boundaries. They are particularly relevant for companies with shares or securities listed on a public stock exchange. IFRS have replaced many different national accounting standards around the world but have not replaced the separate accounting standards in the United States where U.S. GAAP is applied. History The International Accounting Standards Committee (IASC) was established in June 1973 by accountancy bodies representing ten countries. It devised and published International Accounting Standards (IAS), interpretations and a conceptual framework. These were looked to by many national accounting standard-set ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accounting Standard
Publicly traded companies typically are subject to rigorous standards. Small and midsized businesses often follow more simplified standards, plus any specific disclosures required by their specific lenders and shareholders. Some firms operate on the cash method of accounting which can often be simple and straight forward. Larger firms most often operate on an accrual basis. Accrual basis is one of the fundamental accounting assumptions and if it is followed by the company while preparing the Financial statements then no further disclosure is required. Accounting standards prescribe in considerable detail what accruals must be made, how the financial statements are to be presented, and what additional disclosures are required. Some important elements that accounting standards cover include: identifying the exact entity which is reporting, discussing any "going concern" questions, specifying monetary units, and reporting time frames. Limitations The notable limitations of accounting ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cooperation Council For The Arab States Of The Gulf
The Cooperation Council for the Arab States of the Gulf ( ar, مجلس التعاون لدول العربية الخليج ), also known as the Gulf Cooperation Council (GCC; ar, مجلس التعاون الخليجي), is a regional, intergovernmental, political, and economic union comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The council's main headquarters is located in Riyadh, the capital of Saudi Arabia. The Charter of the GCC was signed on 25 May 1981, formally establishing the institution. All current member states are monarchies, including three constitutional monarchies (Qatar, Kuwait, and Bahrain), two absolute monarchies (Saudi Arabia and Oman), and one federal monarchy (the United Arab Emirates, which is composed of seven member states, each of which is an absolute monarchy with its own emir). There have been discussions regarding the future membership of Jordan, Morocco, and Yemen. During the Arab Spring in 2011, Saudi Arab ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Accounting Standards Board
The Financial Accounting Standards Board (FASB) is a private standard-setting body whose primary purpose is to establish and improve Generally Accepted Accounting Principles (GAAP) within the United States in the public's interest. The Securities and Exchange Commission (SEC) designated the FASB as the organization responsible for setting accounting standards for public companies in the US. The FASB replaced the American Institute of Certified Public Accountants' (AICPA) Accounting Principles Board (APB) on July 1, 1973. The FASB is run by the nonprofit Financial Accounting Foundation. FASB accounting standards are accepted as authoritative by many organizations, including state Boards of Accountancy and the American Institute of CPAs (AICPA). Structure The FASB is based in Norwalk, Connecticut, and is led by seven full-time Board members,Spiceland, David; Sepe, James; Nelson, Mark; & Tomassini, Lawrence (2009). ''Intermediate Accounting'' (5th Edition). McGraw-Hill/Irw ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common-law
In law, common law (also known as judicial precedent, judge-made law, or case law) is the body of law created by judges and similar quasi-judicial tribunals by virtue of being stated in written opinions."The common law is not a brooding omnipresence in the sky, but the articulate voice of some sovereign or quasi sovereign that can be identified," ''Southern Pacific Company v. Jensen'', 244 U.S. 205, 222 (1917) (Oliver Wendell Holmes, dissenting). By the early 20th century, legal professionals had come to reject any idea of a higher or natural law, or a law above the law. The law arises through the act of a sovereign, whether that sovereign speaks through a legislature, executive, or judicial officer. The defining characteristic of common law is that it arises as precedent. Common law courts look to the past decisions of courts to synthesize the legal principles of past cases. ''Stare decisis'', the principle that cases should be decided according to consistent principled rules so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ray J
William Ray Norwood Jr. (born January 17, 1981), known professionally as Ray J, is an American singer, actor, and television personality. Born in McComb, Mississippi, and raised in Carson, California, he is the younger brother of recording artist and actress Brandy Norwood and the first cousin of rapper Snoop Dogg. In January 2017, he competed in the nineteenth season of the UK reality television programme ''Celebrity Big Brother''. Early life William Ray Norwood Jr. was born in McComb, Mississippi to Willie Norwood and Sonja Bates-Norwood. His older sister Brandy is a multi-platinum recording artist. Early in his life, he moved with his family from McComb, Mississippi to Los Angeles, California, and in 1989 started appearing in television commercials for different companies. In 1989, at the age of eight, Norwood began auditioning for and appearing in television commercials; he played the foster son in ''The Sinbad Show'', from 1993 to 1994. This period in Norwood's life w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Federation Of Accountants
The International Federation of Accountants (IFAC) is the global advocacy organization for the accountancy profession; mainly for the financial accounting and auditing professions. Founded in 1977, IFAC has more than 175 members and associates in more than 130 countries and jurisdictions, representing more than 3 million accountants employed in public practice, industry and commerce, government, and academia. The organization supports the development, adoption, and implementation of international standards for accounting education, ethics, and the public sector as well as audit and assurance. It supports four independent standard-setting boards, which establish international standards on ethics, auditing and assurance, accounting education, and public sector accounting. It also issues guidance to encourage high-quality performance by professional accountants in small and medium business accounting practices. To ensure the activities of IFAC and the independent standard-setting ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The World Bank
The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Group. The bank is headquartered in Washington, D.C. in the United States. It provided around $98.83 billion in loans and assistance to "developing" and transition countries in the 2021 fiscal year. The bank's stated mission is to achieve the twin goals of ending extreme poverty and building shared prosperity.The World Bank, Press release: "World Bank Group Commitments Rise Sharply in FY14 Amid Organizational Change"July 1 2014, http://www.worldbank.org/en/news/press-release/2014/07/01/world-bank-group-commitments-rise-sharply-in-fy14-amid-organizational-change/ref> Total lending as of 2015 for the last 10 years through Development Policy Financing was approximately $117 billion. Its five organizations are the International Bank for Reconstruc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Turkey
Turkey ( tr, Türkiye ), officially the Republic of Türkiye ( tr, Türkiye Cumhuriyeti, links=no ), is a list of transcontinental countries, transcontinental country located mainly on the Anatolia, Anatolian Peninsula in Western Asia, with a East Thrace, small portion on the Balkans, Balkan Peninsula in Southeast Europe. It shares borders with the Black Sea to the north; Georgia (country), Georgia to the northeast; Armenia, Azerbaijan, and Iran to the east; Iraq to the southeast; Syria and the Mediterranean Sea to the south; the Aegean Sea to the west; and Greece and Bulgaria to the northwest. Cyprus is located off the south coast. Turkish people, Turks form the vast majority of the nation's population and Kurds are the largest minority. Ankara is Turkey's capital, while Istanbul is its list of largest cities and towns in Turkey, largest city and financial centre. One of the world's earliest permanently Settler, settled regions, present-day Turkey was home to important Neol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Israel
Israel (; he, יִשְׂרָאֵל, ; ar, إِسْرَائِيل, ), officially the State of Israel ( he, מְדִינַת יִשְׂרָאֵל, label=none, translit=Medīnat Yīsrāʾēl; ), is a country in Western Asia. It is situated on the southeastern shore of the Mediterranean Sea and the northern shore of the Red Sea, and shares borders with Lebanon to the north, Syria to the northeast, Jordan to the east, and Egypt to the southwest. Israel also is bordered by the Palestinian territories of the West Bank and the Gaza Strip to the east and west, respectively. Tel Aviv is the economic and technological center of the country, while its seat of government is in its proclaimed capital of Jerusalem, although Israeli sovereignty over East Jerusalem is unrecognized internationally. The land held by present-day Israel witnessed some of the earliest human occupations outside Africa and was among the earliest known sites of agriculture. It was inhabited by the Canaanites ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Singapore
Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, bordering the Strait of Malacca to the west, the Singapore Strait to the south, the South China Sea to the east, and the Straits of Johor to the north. The country's territory is composed of one main island, 63 satellite islands and islets, and one outlying islet; the combined area of these has increased by 25% since the country's independence as a result of extensive land reclamation projects. It has the third highest population density in the world. With a multicultural population and recognising the need to respect cultural identities of the major ethnic groups within the nation, Singapore has four official languages: English, Malay, Mandarin, and Tamil. English is the lingua franca and numerous public services are available only in Eng ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South Africa
South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. It is bounded to the south by of coastline that stretch along the South Atlantic and Indian Oceans; to the north by the neighbouring countries of Namibia, Botswana, and Zimbabwe; and to the east and northeast by Mozambique and Eswatini. It also completely enclaves the country Lesotho. It is the southernmost country on the mainland of the Old World, and the second-most populous country located entirely south of the equator, after Tanzania. South Africa is a biodiversity hotspot, with unique biomes, plant and animal life. With over 60 million people, the country is the world's 24th-most populous nation and covers an area of . South Africa has three capital cities, with the executive, judicial and legislative branches of government based in Pretoria, Bloemfontein, and Cape Town respectively. The largest city is Johannesburg. About 80% of the population are Black South Afri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kenya
) , national_anthem = "Ee Mungu Nguvu Yetu"() , image_map = , map_caption = , image_map2 = , capital = Nairobi , coordinates = , largest_city = Nairobi , official_languages = Constitution (2009) Art. 7 ational, official and other languages"(1) The national language of the Republic is Swahili. (2) The official languages of the Republic are Swahili and English. (3) The State shall–-–- (a) promote and protect the diversity of language of the people of Kenya; and (b) promote the development and use of indigenous languages, Kenyan Sign language, Braille and other communication formats and technologies accessible to persons with disabilities." , languages_type = National language , languages = Swahili , ethnic_groups = , ethnic_groups_year = 2019 census , religion = , religion_year = 2019 census , demonym = ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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