Convergence Of US-GAAP And International Standards: The Critical Issues

This paper provides readers with: 1) An update on an institutional change that will focus the attention of worldwide accounting and financial reporting standard setters on the convergence of international and national standards, and2) An analysis of “in-process” issues in the international accounting arena that will be critical to the success / failure of this convergence effort

Global Auditing and Accounting Confusion

The article discusses about the accounting and audit standards in the United States, which is different from one country to another due to business practices, fiscal systems and the law regulating a company. The International Federation of Accountants and the International Accounting Standards Committee aimed to a have a consistency of audit and accounting standards around the world, although these diversities can easily identify a company\u27s national origin and as a basis of the financial statements presentation

Raising Capital Overseas

The article states that more and more companies are trying to raise capital by listing their securities for sale on foreign exchanges.More and more companies are trying to raise capital by listing their securities for sale on foreign exchanges. However, the way financial statements are prepared varies from one country to the next. U.S. companies looking to raise capital abroad must consider the myriad rules regarding financial statement presentation just as foreign companies listing stock in the United States must adhere to the rules and regulations of the Securities and Exchange Commission. Similarly, the costs of reconciling U.S. accounting standards to adhere to foreign standards also can be high, so it is important that U.S. companies know the questions they will face when going global. Although the details of additional disclosures must be determined case by case, they can be developed in the context of normal corporate reporting. However, U.S. public companies should determine the nature and extent of additional disclosures in advance to provide for an orderly approach to corporate reporting and to avoid any undue delay in the listing process

Estimates of the Sensitivities of the Value of the Firm to Profitability, Growth, and Capital Intensity

Value-based management systems concentrate on actions that generate value for the shareholders in the wealth creation process (Fisher 1995; Lieber 1996; Walbert 1994). This study focuses explicitly on profitability, growth, and capital intensity as drivers of the value of the firm by extending a free cash flow valuation model for the firm. The extended model is used to provide information about the sensitivities of the value of the firm to changes in the firm\u27s profitability, growth, and capital intensity. These sensitivities are presented in terms of partial derivatives and dollar changes. The partial derivatives show the changes in the value of the firm resulting from a small change in the measures for profitability, growth, or capital intensity. Each dollar amount shows the dollar changes in the value of the firm resulting from a small change in the profitability, growth, or capital intensity measures. These sensitivities show the impact of changes in the profitability, growth, and capital intensity measures on the value of the firm. This information is valuable in helping managers predict the results of actions to improve the wealth generating ability of the firm by managing these value drivers more effectivel

Obstacles to International Accounting Standards Convergence

Given the recent changes in the international sector, along with the similarities in the conceptual frameworks of the FASB and IASC, the relatively swift convergence of US GAAP and International Accounting Standards is a distinct possibility. This article contends convergence is possible, and reviews 3 key areas that could hinder or foster it: 1. the general organization, in terms of form and topical content, of the frameworks, 2. a significant pervasive difference between the frameworks, and 3. specific differences within the major topical areas of the frameworks

The High Road

Discusses the obstacles to international accounting standards convergence. Effort of the International Accounting Standards Committee (IASC) to promote to convergence theme; Comparison between the convergence frameworks of the U.S. Securities and Exchange Commission and the Financial Accounting Standards Board; Sections of the \u27Framework for the Preparation and Presentation of Financial Statements\u27 document issued by the IASC

An experimental evaluation of software redundancy as a strategy for improving reliability

The strategy of using multiple versions of independently developed software as a means to tolerate residual software design faults is suggested by the success of hardware redundancy for tolerating hardware failures. Although, as generally accepted, the independence of hardware failures resulting from physical wearout can lead to substantial increases in reliability for redundant hardware structures, a similar conclusion is not immediate for software. The degree to which design faults are manifested as independent failures determines the effectiveness of redundancy as a method for improving software reliability. Interest in multi-version software centers on whether it provides an adequate measure of increased reliability to warrant its use in critical applications. The effectiveness of multi-version software is studied by comparing estimates of the failure probabilities of these systems with the failure probabilities of single versions. The estimates are obtained under a model of dependent failures and compared with estimates obtained when failures are assumed to be independent. The experimental results are based on twenty versions of an aerospace application developed and certified by sixty programmers from four universities. Descriptions of the application, development and certification processes, and operational evaluation are given together with an analysis of the twenty versions

Washington Legislation—1941 (Continued)

The survey of selected important enactments of the Twenty-Seventh Legislature of the State of Washington, first installment of which appeared in the April issue of the REVww, is continued and concluded in this issue

Correspondence to Elizabeth ( Bessie ) McCaw Boggs Taylor, August 31, 1888 - December 10, 1901

Correspondence to Elizabeth ( Bessie ) McCaw Boggs Taylor, August 31, 1888 - December 10, 1901. Box 2, folder 5.https://digitalcommons.wofford.edu/littlejohnboggs/1015/thumbnail.jp