Posts with the companies tag

Accounting Instruction

Attempts to Converge to One Set of Global Accounting

Written by Bob Steele CPA - Accounting Instruction, Help & How To on . Leave a comment

 

Advanced financial accounting PowerPoint presentation. In this presentation, we will take a look at attempts to converge to one set of global accounting standards get ready to account with advanced financial accounting attempts to converge to one set of global accounting standards. When preparing financial statements of global companies, accounting firms must think about differences and accounting principles across national boundaries. So obviously, if we’re a large company, and we have places of business across national boundaries, then we got to think about well, what are the accounting principles and standards in those different locations? And what are the requirements for us to prepare financial statements if doing business in you know, different countries across boundaries that have different accounting standards, differences in currencies that are used to measure the operations of companies in different countries. So again, this is something of course we have to think about it for a large company. We have places of business in our company that are across different different areas. Different countries that have different currencies, that it’s possible that we could be measuring parts of the books and whatnot in different currencies. We need to know what the standards are in different places so that we can meet those standards if we’re a large company. International Financial Reporting Standards IFRS published by the International Accounting Standards Board is ay ay ay ay SB, as the name indicates International Financial Reporting Standards. The goal here or one of the goals is have one set of standards that will go across different areas, different countries, different nations, which could make it easier to do business in different companies or across borders. So it is accepted widely the set of standards and permitted or required in over 100 countries.

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Accounting Instruction

Periodic Reporting Requirements

Written by Bob Steele CPA - Accounting Instruction, Help & How To on . Leave a comment

Advanced financial accounting PowerPoint presentation. In this presentation we will discuss periodic reporting requirements for publicly traded companies get ready to account with advanced financial accounting, periodic reporting requirements, companies that have more than 10 million in assets and whose securities are held by over 500. Persons must file annual and other periodic reports to provide updates on their economic activities. So remember the general rule here we’re talking about publicly traded companies that have a benefit of being able to be publicly traded to the public on the exchanges. And in exchange for that we want to see some more basically transparency, and therefore you’ve got the filing process that needed to take place. We see some regulation by the SEC that we talked about in prior presentations. And then going forward, we want to keep and maintain the transparency the information so that there’s both the investors and the companies have the information necessary in order to enter into a agreements. And therefore we’re going to need some continuing reporting, what are the what’s going to be the requirements in terms of the continuing reporting. So once again, companies that have more than 10 million in assets and whose securities are held by over 500 persons must file annual and other periodic reports to provide updates on their economic activities. And that’s going to increase that transparency so that investors know what is happening and they can invest with full information to do so. three basic periodic reporting forms used for this updating our form 10 k form 10 Q and form eight K. Let’s start with the form 10 k form 10 k is the annual filing to the SEC the Security and Exchange Commission.

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Accounting Instruction

SEC Structure & Regulatory Authority

Written by Bob Steele CPA - Accounting Instruction, Help & How To on . Leave a comment

Advanced financial accounting PowerPoint presentation. In this presentation we will discuss sec structure and Regulatory Authority get ready to account with advanced financial accounting in sec structure and regulatory authority, Securities and Exchange Commission the SEC What is it? It’s an independent federal agency It was created in 1934. It’s going to regulate and it does regulate the securities markets, the SEC helps maintain an effective marketplace for companies issuing securities and for investors seeking capital investments. Now we’ll take a look at a brief history of leading up to the creation of the SEC and a little bit about the SEC itself. So if we have an understanding of the history, then it gives us a little bit better of an understanding of why the SEC does what it does today and how it how it was created or came to be. So in 1792, was when the New York Stock Exchange was created to function as a clearing house. For the securities trades between its invit its investors. So now we have the New York Stock Exchange that will function as the clearing house. But then in 1911, states started to pass, quote, blue sky laws in quotes to help regulate the offerings of securities by companies without a solid financial base. So in other words, they saw a need for regulation, now that you have the securities that are on the New York Stock Exchange and can then be offered basically, to more to the public, more people will have access to purchasing them and putting capital into the market, then there’s a lack of transparency, the people that are putting money in maybe doing it solely on speculation, and we don’t have the information to really support the claims possibly that could be made by the stocks that are that are being traded and therefore, you could have situations and did have situations where you had stocks that had no supporting you know, value or very little supporting value to them.

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