- published: 21 Jan 2015
- views: 5710
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GAAP stands for Generally Accepted Accounting Principles; these are the standard and commonly accepted ways of recording and reporting accounting. GAAP is the acronym for generally accepted accounting principles. That means the basic accounting principles and guidelines such as the cost principle, matching principle, full disclosure, etc., the detailed standards and other rules issued by the Financial Accounting Standards Board and its predecessor the Accounting Principles Board, and generally accepted industry practices.
GAAP must be adhered to when a company distributes its financial statements outside of the company. If a corporation's stock is publicly traded, the financial statements must also adhere to rules established by the overseeing governmental agency. This includes having its financial statements audited by an independent accounting firm.
Accountants use generally accepted accounting principles to guide them in recording and reporting financial information. GAAP comprises a broad set of principles that have been developed by the accounting profession.
In 2008, the Securities and Exchange Commission issued a preliminary "roadmap" that may lead the United States to abandon Generally Accepted Accounting Principles in the and to join more than 100 countries around the world instead in using the London-based International Financial Reporting Standard. The SEC expressed their aim to fully adopt International Financial Reporting Standards in the U.S. by 2014. With the convergence of the U.S. GAAP and the international IFRS accounting systems, as the highest authority over International Financial Reporting Standards, the International Accounting Standards Board is becoming more important in the United States.
By Barry Norman, Investors Trading Academy
You'll learn the key differences between US GAAP and IFRS on the 3 main financial statements (Income Statement, Balance Sheet, and Cash Flow Statement).
By http://breakingintowallstreet.com/ "Financial Modeling Training And Career Resources For Aspiring Investment Bankers"
You'll also learn how to adjust an international company's financial statements to make it easier to model and project over time.
Table of Contents:
1:46 Why US GAAP vs. IFRS Matters
5:28 Income Statement Terminology Differences
7:34 Balance Sheet Differences
14:09 How to Adjust the Financial Statements for an IFRS Company
20:02 Recap and Summary
Income Statement:
The Income Statement is very similar regardless of the accounting system.
Some items have different names (e.g., Revenue is often called Turnover and Net Income is often called Profit), but that's about it.
Balance Sheet:
There are more differences on the Balance Sheet - items are often arranged in a different order (sometimes Long-Term Assets are listed first, then Current Assets, then Equity, then Long-Term Liabilities and Current Liabilities at the end).
The Balance Sheet itself is usually called the "Statement of Financial Position."
Also, items within the Equity section often have different names:
Common Stock is called "Share Capital" or "Issued Capital."
Additional Paid-In Capital is often called the "Share Premium."
Retained Earnings and Treasury Stock tend to have similar names.
IFRS-based companies also have many "Reserve" categories for items such as FX translation differences and unrealized gains and losses.
For US-based companies, these items show up within Accumulated Other Comprehensive Income (AOIC) rather than being split out into separate "Reserve" categories.
But the FUNCTIONALITY of the Balance Sheet is still very similar (items still flow in and change the same way), even if items have different names or are grouped differently.
Cash Flow Statement
There are more differences on the Cash Flow Statement, because most US-based companies use the INDIRECT method and most international companies use the DIRECT method.
The Indirect Method starts with Net Income, makes non-cash adjustments, and lists the changes in Working Capital in the Cash Flow from Operations section.
The Direct Method simply lists the cash received from customers and cash paid to suppliers and employees, along with income taxes and interest and other expenses, and so you don't see the full details behind the non-cash adjustments and working capital spending.
When this happens, it is much, much harder to link the financial statements because changes in items such as Accounts Receivable and Accounts Payable won't flow into anything on the Cash Flow Statement.
So we recommend ADJUSTING the financial statements as follows:
First, find a reconciliation between this Cash Flow Statement and the company's operating income and/or net income.
Then, make the Cash Flow Statement start with Net Income instead, as it normally does, and include all the line items from this reconciliation (non-cash adjustments, Working Capital changes, etc.).
And if there are still remaining differences between items such as income taxes and interest expense on the Income Statement vs. Cash Flow Statement, make adjusting entries on the CFS that indicate the true cash amount that a company paid for those.
Further Resources
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-US-GAAP-vs-IFRS.xlsx
Examples of Financial Statements for US-Based Companies:
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-US-Chuck-E-Cheese.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-US-Jazz-Pharmaceuticals.pdf
Examples of Financial Statements for International Companies:
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Australia-Telstra.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Brazil-Ambev.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-China-TenCent.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-France-Vivendi.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-India-Infosys.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Japan-Suntory.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Korea-Samsung.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Mexico-FEMSA.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Russia-Rostelecom.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Saudi-Arabia-Saudi-Telecom.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Singapore-SG-Airlines.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-South-Africa-PPC.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-UAE-DP-World.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-UK-Easyjet.pdf
- published: 13 May 2014
- views: 31755
This tutorial presents a summary of Generally Accepted Accounting principles also known as GAAP or accounting standards. Generally Accepted Accounting Principles define the accounting procedures, and understanding them is essential to producing accurate and meaningful records. In this article we emphasize on accounting principles and concepts so that the learner can understand the "why" of accounting which will help you gain an understanding of the full significance of accounting.
- published: 01 Jul 2013
- views: 8133
This video the full video that includes all 20 slides used to discuss the topic "What are US GAAP and IFRS?" The individual slide-specific videos are available in a playlist titled "What are US GAAP and IFRS?" I created this full video for those who felt that watching the videos using the playlist took too long. The reality is that this edited full video is a bit shorter than the slide videos because I have edited out some silence.
These videos are part of a free online course in accounting created by Kevin Kimball of Brigham Young University -- Hawaii using the Canvas Network's Learning Management System (LMS). The actual course will first become available for enrollment a couple months prior to the start of Winter Semester 2014 (which starts in January) at learn.canvas.net.
Aside from that, all of the videos in this course will be freely available in YouTube with no registration requirement, you just won't have access to the outcome assessment features (i.e. quizzes) and the interaction with the professor and fellow students that will be available in the full course at learn.canvas.net.
The reason I broke the full presentation into multiple individual video slides what twofold 1) it was easier to edit and 2) so that the students taking my online course could jump to each individual slide's video so that they could watch just the video segments they needed most.
Brought to you by the Debits and Credits Trainer Android App.
- published: 29 Apr 2013
- views: 25717
Part II of this video series is available to FinTree On-line Program Subscribers. To know more visit us at :
FinTree website link: http://www.fintreeindia.com
FB Page link :http://www.facebook.com/Fin...
We love what we do, and we make awesome video lectures for CFA and FRM exams. Our Video Lectures are comprehensive, easy to understand and most importantly, fun to study with!
This Video lecture was recorded by our popular trainer for CFA, Mr. Utkarsh Jain, during one of his live CFA Level I Classes in Pune (India).
This Video Lecture series covers following key differences between US GAAP vs IFRS which can be tested on CFA Level I Exams.
1. Statement of Comprehensive Income
IFRS : Income Statement can be Combined with Other Comprehensive Income and presented a Single Statement of Comprehensive Income i.e. IS + OCI = CI OR IS and CI can be presented separately
US GAAP: Similar Presentation except that firms can choose to report Comprehensive Income in Statement of Shareholders Equity
2. Elements Related to Performance
IFRS : Income , Expenses
US GAAP : Revenues, Expenses, Gains, Losses, Comprehensive Income
3. Revenue Recognition Criteria for Sale of Goods
IFRS :
Risk and Reward is transferred
No control over the goods
Revenue reliably measured
Probable flow of economic benefits
Cost can be reliably measured
US GAAP :
Revenue is realized/ realizable
Earned
4. Long Term Contracts
IFRS : When outcome can’t be reliably measured-revenue is recognized to the extent of cost, cost are expenses when incurred, profit recognized on completion
US GAAP : When outcome can’t be reliably measured- Completed Contract Method, Revenue, expenses and profit is recognized when the contract is complete
5. Barter Transactions
IFRS : Revenue must be based on fair value of revenue from similar non barter transaction with non related parties
US GAAP : Revenue can be recognized at fair value only if firm has historically received cash payments for such goods/services
6. Extraordinary Items
IFRS : Does not allow extraordinary items to be reported separately
US GAAP : Unusual and Infrequent items- Reported separately in the income statement , net of tax, after income from continuing operations
7.Balance Sheet Presentation
IFRS : IFRS does not specify the order in which current or non current assets/ liability should be presented
Generally, Companies using IFRS order balance sheet information from least liquid to most liquid.
US GAAP : Generally, Companies using U.S. GAAP (e.g., Colgate) order items on the balance sheet from most liquid to least liquid
8. Cash Flow Statement Items- Non Financial Firm
IFRS :
Dividend Paid: CFO/CFF
Interest Paid: CFO/CFF
Dividend Received: CFO/CFI
Interest Received: CFO/CFI
Taxes Related to Operating activities: CFO
Taxes related to Financing Activities: CFF
Taxes Related to Investing activities: CFI
US GAAP :
Dividend Paid: CFF
Interest Paid: CFO
Dividend Received: CFO
Interest Received: CFO
Taxes Related to Operating activities: CFO
Taxes related to Financing Activities: CFO
Taxes Related to Investing activities: CFO
9.Cash Flow Statement Presentation
US GAAP:
If direct method is used, Firm must add a disclosure of indirect method
Most companies use indirect method
IFRS: No such disclosure required
10. Inventory Valuation Methods
IFRS:
Specific Identification
Weighted Average
FIFO
US GAAP:
Specific Identification
Weighted Average
FIFO
LIFO
11. Inventory Write Downs
Explained through a Flow Chart.
12. Capitalized Interest
IFRS: Income earned by temporary investing borrowed funds reduces the interest that is eligible for capitalization
US GAAP: No such reduction
13. Research and Development cost
IFRS : Research cost - Expensed
Development Cost - Capitalized
US GAAP : Research Cost- Expensed
Development Cost – Expensed
(* Software Development Cost )
14.Software Development Cost
Explained through a Flow Chart.
15. Component Depreciation
IFRS : IFRS Requires firms to depreciate component of Assets separately
Requiring useful life estimates for each component
US GAAP: Component Depreciation is allowed, but seldom used.
16. Cost vs. Revaluation Model
IFRS :
Firms can either use Cost or Revaluation Model
However, same model should be asset for entire asset class
Revaluation model is rarely used in practice
US GAAP : Assets are reported at Cost (–) Accumulated Depreciation
17.Impairment of PPE
Explained through a Flow Chart/
18. Investment PPE
IFRS :
Property owned for the purpose of collecting rental income or capital appreciation is classified as Investment PPE.
Gives a choice of Cost or Fair Value for Investment PPE
Use same valuation model for all PPE
19. Long Term Bond Liability- Calculation
20. Bond Issuance Cost
21. Deferred Tax Assets/ Deferred Tax Liabilities
22. Classification of Lease- Books of Lessee
23. Classification of Lease- Books of Lessor
24. Component of Pension Expense
- published: 24 Nov 2014
- views: 17872
Accounting (Grade 11): GAAP and Accounting Concepts,
GAAP- Generally Accepted Accounting Principles,
Need for GAAP,
IFRS and its Requirement,
Accounting Principles- Accounting Assumptions/ Concepts
Accounting Conventions
Accounting Concepts- Going Concern
Accounting Entity
Money Measurement
Accounting Period
Revenue Recognition
Verifiable Objective
Matching Concept
Cost Concept
Accrual Concept
Dual Aspect Concept
Video by Edupedia World (www.edupediaworld.com). All Rights Reserved.
- published: 01 Sep 2015
- views: 1681
FinTree website link: http://www.fintreeindia.com
FB Page link :http://www.facebook.com/Fin...
We love what we do, and we make awesome video lectures for CFA and FRM exams. Our Video Lectures are comprehensive, easy to understand and most importantly, fun to study with!
This Video lecture was recorded by our popular trainer for CFA, Mr. Utkarsh Jain, during one of his live CFA Level II Classes in Pune (India).
This video covers following key area's:
1:10 Permissible inventory cost flow methods in IFRS and US GAAP
1:25 Concept of LIFO reserve
5:43 Inventory Valuation method of US GAAP and IFRS
★★ IFRS: Inventory is reported at lower of Cost or NRV, Inventory write up is allowed to the extent of previous write down.
★★US GAAP: Inventory is reported at lower of Cost or Market, No Subsequent write up's are allowed
9:00 Asset Valuations model allowed under US GAAP and IFRS
★★IFRS : Cost model or Asset Revaluation Model
★★ US GAAP: Cost Model
11:41 Asset Impairment under US GAAP vs IFRS
★★IFRS : Compare Carrying Value vs Recoverable Amount ( Recoverable amount is greater of Net Realisable Value or Value in use)
★★US GAAP: Impairment loss is calculated in two steps:
Step no 1: Compare Carrying Value vs undiscounted Future Cash Flow's
Step no 2: Impairment Loss : Carrying value - Discounted future cash flow's
17:29 Impairment of Goodwill in IFRS vs US GAAP
22:00 Recognition of lease as either Operating Lease or Finance Lease in IFRS and US GAAP
★★ IFRS : Based on Economic Substance
★★ US GAAP : Recognise as Finance Lease if one of the following four criteria's are met:
1. Title Transfer Clause
2. Bargain Purchase Clause
3. PV of Lease payments are greater than 90% value of Asset
4. Lease Tenure is greater than 75% life of the asset
38:46 Accounting for Business Combinations in IFRS and US GAAP
★ Merger In IFRS
★Acquisition in IFRS
★ Consolidation in IFRS
★ Acquisition Method vs Pooling of Interest Method
41:45 Full Goodwill vs Partial Goodwill
★★ IFRS : Both Full and Partial Goodwill Allowed
★★ US GAAP: Full Goodwill
- published: 13 Feb 2013
- views: 22640
This discussion focuses on the financial statement aspects of listing in the US and other considerations a public company needs to make whilst operating under the US Securities and Exchange Commission.
- published: 26 Mar 2013
- views: 4118
Gaap
Gaap (also Tap, Coap, Taob, Goap) is a goetic demon described in the Lesser Key of Solomon, the Pseudomonarchia Daemonum, the Dictionnaire Infernal, and the Munich Manual of Demonic Magic, as a Prince in human form who incites the love. The Munich Manual also says that Taob also provides medical care for women, transforms them to make it easier to get to a lover, renders them infertile, and rules twenty-five legions of spirits. The sources besides the Munich Manual also describe Gaap as a President, giving him the powers to teach philosophy and liberal arts, make others invisible, steal familiars from other magicians, make men stupid, and carry men between kingdoms; in addition to ruling sixty-six legions of demons. Johann Weyer also connects Gaap to necromancers, and states that he was first called upon by Noah's son Ham, along with Beleth. He was of the order of potestates.
Gaap (or Goap) is also one of the four cardinal spirits, of the south in the Lesser Key of Solomon, the west in the Pseudomonarchia Daemonum.
This page contains text from Wikipedia, the Free Encyclopedia -
http://wn.com/Gaap
This article is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported License, which means that you can copy and modify it as long as the entire work (including additions) remains under this license.
This article is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported License, which means that you can copy and modify it as long as the entire work (including additions) remains under this license.
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1:55What is GAAP?
What is GAAP?What is GAAP?
GAAP stands for Generally Accepted Accounting Principles; these are the standard and commonly accepted ways of recording and reporting accounting. GAAP is the acronym for generally accepted accounting principles. That means the basic accounting principles and guidelines such as the cost principle, matching principle, full disclosure, etc., the detailed standards and other rules issued by the Financial Accounting Standards Board and its predecessor the Accounting Principles Board, and generally accepted industry practices. GAAP must be adhered to when a company distributes its financial statements outside of the company. If a corporation's stock is publicly traded, the financial statements must also adhere to rules established by the overseeing governmental agency. This includes having its financial statements audited by an independent accounting firm. Accountants use generally accepted accounting principles to guide them in recording and reporting financial information. GAAP comprises a broad set of principles that have been developed by the accounting profession. In 2008, the Securities and Exchange Commission issued a preliminary "roadmap" that may lead the United States to abandon Generally Accepted Accounting Principles in the and to join more than 100 countries around the world instead in using the London-based International Financial Reporting Standard. The SEC expressed their aim to fully adopt International Financial Reporting Standards in the U.S. by 2014. With the convergence of the U.S. GAAP and the international IFRS accounting systems, as the highest authority over International Financial Reporting Standards, the International Accounting Standards Board is becoming more important in the United States. By Barry Norman, Investors Trading Academy -
14:22Introduction to GAAP and Transaction Analysis
Introduction to GAAP and Transaction Analysis -
2:40Financial Accounting: GAAP Principles and Concepts
Financial Accounting: GAAP Principles and Concepts -
21:58US GAAP vs. IFRS on the Financial Statements
US GAAP vs. IFRS on the Financial StatementsUS GAAP vs. IFRS on the Financial Statements
You'll learn the key differences between US GAAP and IFRS on the 3 main financial statements (Income Statement, Balance Sheet, and Cash Flow Statement). By http://breakingintowallstreet.com/ "Financial Modeling Training And Career Resources For Aspiring Investment Bankers" You'll also learn how to adjust an international company's financial statements to make it easier to model and project over time. Table of Contents: 1:46 Why US GAAP vs. IFRS Matters 5:28 Income Statement Terminology Differences 7:34 Balance Sheet Differences 14:09 How to Adjust the Financial Statements for an IFRS Company 20:02 Recap and Summary Income Statement: The Income Statement is very similar regardless of the accounting system. Some items have different names (e.g., Revenue is often called Turnover and Net Income is often called Profit), but that's about it. Balance Sheet: There are more differences on the Balance Sheet - items are often arranged in a different order (sometimes Long-Term Assets are listed first, then Current Assets, then Equity, then Long-Term Liabilities and Current Liabilities at the end). The Balance Sheet itself is usually called the "Statement of Financial Position." Also, items within the Equity section often have different names: Common Stock is called "Share Capital" or "Issued Capital." Additional Paid-In Capital is often called the "Share Premium." Retained Earnings and Treasury Stock tend to have similar names. IFRS-based companies also have many "Reserve" categories for items such as FX translation differences and unrealized gains and losses. For US-based companies, these items show up within Accumulated Other Comprehensive Income (AOIC) rather than being split out into separate "Reserve" categories. But the FUNCTIONALITY of the Balance Sheet is still very similar (items still flow in and change the same way), even if items have different names or are grouped differently. Cash Flow Statement There are more differences on the Cash Flow Statement, because most US-based companies use the INDIRECT method and most international companies use the DIRECT method. The Indirect Method starts with Net Income, makes non-cash adjustments, and lists the changes in Working Capital in the Cash Flow from Operations section. The Direct Method simply lists the cash received from customers and cash paid to suppliers and employees, along with income taxes and interest and other expenses, and so you don't see the full details behind the non-cash adjustments and working capital spending. When this happens, it is much, much harder to link the financial statements because changes in items such as Accounts Receivable and Accounts Payable won't flow into anything on the Cash Flow Statement. So we recommend ADJUSTING the financial statements as follows: First, find a reconciliation between this Cash Flow Statement and the company's operating income and/or net income. Then, make the Cash Flow Statement start with Net Income instead, as it normally does, and include all the line items from this reconciliation (non-cash adjustments, Working Capital changes, etc.). And if there are still remaining differences between items such as income taxes and interest expense on the Income Statement vs. Cash Flow Statement, make adjusting entries on the CFS that indicate the true cash amount that a company paid for those. Further Resources http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-US-GAAP-vs-IFRS.xlsx Examples of Financial Statements for US-Based Companies: http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-US-Chuck-E-Cheese.pdf http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-US-Jazz-Pharmaceuticals.pdf Examples of Financial Statements for International Companies: http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Australia-Telstra.pdf http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Brazil-Ambev.pdf http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-China-TenCent.pdf http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-France-Vivendi.pdf http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-India-Infosys.pdf http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Japan-Suntory.pdf http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Korea-Samsung.pdf http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Mexico-FEMSA.pdf http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Russia-Rostelecom.pdf http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Saudi-Arabia-Saudi-Telecom.pdf http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Singapore-SG-Airlines.pdf http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-South-Africa-PPC.pdf http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-UAE-DP-World.pdf http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-UK-Easyjet.pdf -
14:44Introduction to GAAP - General Ledger
Introduction to GAAP - General LedgerIntroduction to GAAP - General Ledger
This tutorial presents a summary of Generally Accepted Accounting principles also known as GAAP or accounting standards. Generally Accepted Accounting Principles define the accounting procedures, and understanding them is essential to producing accurate and meaningful records. In this article we emphasize on accounting principles and concepts so that the learner can understand the "why" of accounting which will help you gain an understanding of the full significance of accounting. -
11:05What are US GAAP and IFRS - Video Slides 1-20
What are US GAAP and IFRS - Video Slides 1-20What are US GAAP and IFRS - Video Slides 1-20
This video the full video that includes all 20 slides used to discuss the topic "What are US GAAP and IFRS?" The individual slide-specific videos are available in a playlist titled "What are US GAAP and IFRS?" I created this full video for those who felt that watching the videos using the playlist took too long. The reality is that this edited full video is a bit shorter than the slide videos because I have edited out some silence. These videos are part of a free online course in accounting created by Kevin Kimball of Brigham Young University -- Hawaii using the Canvas Network's Learning Management System (LMS). The actual course will first become available for enrollment a couple months prior to the start of Winter Semester 2014 (which starts in January) at learn.canvas.net. Aside from that, all of the videos in this course will be freely available in YouTube with no registration requirement, you just won't have access to the outcome assessment features (i.e. quizzes) and the interaction with the professor and fellow students that will be available in the full course at learn.canvas.net. The reason I broke the full presentation into multiple individual video slides what twofold 1) it was easier to edit and 2) so that the students taking my online course could jump to each individual slide's video so that they could watch just the video segments they needed most. Brought to you by the Debits and Credits Trainer Android App. -
31:19CFA Level I - US GAAP vs IFRS - Part I (of 2)
CFA Level I - US GAAP vs IFRS - Part I (of 2)CFA Level I - US GAAP vs IFRS - Part I (of 2)
Part II of this video series is available to FinTree On-line Program Subscribers. To know more visit us at : FinTree website link: http://www.fintreeindia.com FB Page link :http://www.facebook.com/Fin... We love what we do, and we make awesome video lectures for CFA and FRM exams. Our Video Lectures are comprehensive, easy to understand and most importantly, fun to study with! This Video lecture was recorded by our popular trainer for CFA, Mr. Utkarsh Jain, during one of his live CFA Level I Classes in Pune (India). This Video Lecture series covers following key differences between US GAAP vs IFRS which can be tested on CFA Level I Exams. 1. Statement of Comprehensive Income IFRS : Income Statement can be Combined with Other Comprehensive Income and presented a Single Statement of Comprehensive Income i.e. IS + OCI = CI OR IS and CI can be presented separately US GAAP: Similar Presentation except that firms can choose to report Comprehensive Income in Statement of Shareholders Equity 2. Elements Related to Performance IFRS : Income , Expenses US GAAP : Revenues, Expenses, Gains, Losses, Comprehensive Income 3. Revenue Recognition Criteria for Sale of Goods IFRS : Risk and Reward is transferred No control over the goods Revenue reliably measured Probable flow of economic benefits Cost can be reliably measured US GAAP : Revenue is realized/ realizable Earned 4. Long Term Contracts IFRS : When outcome can’t be reliably measured-revenue is recognized to the extent of cost, cost are expenses when incurred, profit recognized on completion US GAAP : When outcome can’t be reliably measured- Completed Contract Method, Revenue, expenses and profit is recognized when the contract is complete 5. Barter Transactions IFRS : Revenue must be based on fair value of revenue from similar non barter transaction with non related parties US GAAP : Revenue can be recognized at fair value only if firm has historically received cash payments for such goods/services 6. Extraordinary Items IFRS : Does not allow extraordinary items to be reported separately US GAAP : Unusual and Infrequent items- Reported separately in the income statement , net of tax, after income from continuing operations 7.Balance Sheet Presentation IFRS : IFRS does not specify the order in which current or non current assets/ liability should be presented Generally, Companies using IFRS order balance sheet information from least liquid to most liquid. US GAAP : Generally, Companies using U.S. GAAP (e.g., Colgate) order items on the balance sheet from most liquid to least liquid 8. Cash Flow Statement Items- Non Financial Firm IFRS : Dividend Paid: CFO/CFF Interest Paid: CFO/CFF Dividend Received: CFO/CFI Interest Received: CFO/CFI Taxes Related to Operating activities: CFO Taxes related to Financing Activities: CFF Taxes Related to Investing activities: CFI US GAAP : Dividend Paid: CFF Interest Paid: CFO Dividend Received: CFO Interest Received: CFO Taxes Related to Operating activities: CFO Taxes related to Financing Activities: CFO Taxes Related to Investing activities: CFO 9.Cash Flow Statement Presentation US GAAP: If direct method is used, Firm must add a disclosure of indirect method Most companies use indirect method IFRS: No such disclosure required 10. Inventory Valuation Methods IFRS: Specific Identification Weighted Average FIFO US GAAP: Specific Identification Weighted Average FIFO LIFO 11. Inventory Write Downs Explained through a Flow Chart. 12. Capitalized Interest IFRS: Income earned by temporary investing borrowed funds reduces the interest that is eligible for capitalization US GAAP: No such reduction 13. Research and Development cost IFRS : Research cost - Expensed Development Cost - Capitalized US GAAP : Research Cost- Expensed Development Cost – Expensed (* Software Development Cost ) 14.Software Development Cost Explained through a Flow Chart. 15. Component Depreciation IFRS : IFRS Requires firms to depreciate component of Assets separately Requiring useful life estimates for each component US GAAP: Component Depreciation is allowed, but seldom used. 16. Cost vs. Revaluation Model IFRS : Firms can either use Cost or Revaluation Model However, same model should be asset for entire asset class Revaluation model is rarely used in practice US GAAP : Assets are reported at Cost (–) Accumulated Depreciation 17.Impairment of PPE Explained through a Flow Chart/ 18. Investment PPE IFRS : Property owned for the purpose of collecting rental income or capital appreciation is classified as Investment PPE. Gives a choice of Cost or Fair Value for Investment PPE Use same valuation model for all PPE 19. Long Term Bond Liability- Calculation 20. Bond Issuance Cost 21. Deferred Tax Assets/ Deferred Tax Liabilities 22. Classification of Lease- Books of Lessee 23. Classification of Lease- Books of Lessor 24. Component of Pension Expense -
16:59GAAP/ Accounting Concepts/ Accounting Principles
GAAP/ Accounting Concepts/ Accounting PrinciplesGAAP/ Accounting Concepts/ Accounting Principles
Accounting (Grade 11): GAAP and Accounting Concepts, GAAP- Generally Accepted Accounting Principles, Need for GAAP, IFRS and its Requirement, Accounting Principles- Accounting Assumptions/ Concepts Accounting Conventions Accounting Concepts- Going Concern Accounting Entity Money Measurement Accounting Period Revenue Recognition Verifiable Objective Matching Concept Cost Concept Accrual Concept Dual Aspect Concept Video by Edupedia World (www.edupediaworld.com). All Rights Reserved. -
46:43CFA Level II Key differences between US GAAP and IFRS PART I
CFA Level II Key differences between US GAAP and IFRS PART ICFA Level II Key differences between US GAAP and IFRS PART I
FinTree website link: http://www.fintreeindia.com FB Page link :http://www.facebook.com/Fin... We love what we do, and we make awesome video lectures for CFA and FRM exams. Our Video Lectures are comprehensive, easy to understand and most importantly, fun to study with! This Video lecture was recorded by our popular trainer for CFA, Mr. Utkarsh Jain, during one of his live CFA Level II Classes in Pune (India). This video covers following key area's: 1:10 Permissible inventory cost flow methods in IFRS and US GAAP 1:25 Concept of LIFO reserve 5:43 Inventory Valuation method of US GAAP and IFRS ★★ IFRS: Inventory is reported at lower of Cost or NRV, Inventory write up is allowed to the extent of previous write down. ★★US GAAP: Inventory is reported at lower of Cost or Market, No Subsequent write up's are allowed 9:00 Asset Valuations model allowed under US GAAP and IFRS ★★IFRS : Cost model or Asset Revaluation Model ★★ US GAAP: Cost Model 11:41 Asset Impairment under US GAAP vs IFRS ★★IFRS : Compare Carrying Value vs Recoverable Amount ( Recoverable amount is greater of Net Realisable Value or Value in use) ★★US GAAP: Impairment loss is calculated in two steps: Step no 1: Compare Carrying Value vs undiscounted Future Cash Flow's Step no 2: Impairment Loss : Carrying value - Discounted future cash flow's 17:29 Impairment of Goodwill in IFRS vs US GAAP 22:00 Recognition of lease as either Operating Lease or Finance Lease in IFRS and US GAAP ★★ IFRS : Based on Economic Substance ★★ US GAAP : Recognise as Finance Lease if one of the following four criteria's are met: 1. Title Transfer Clause 2. Bargain Purchase Clause 3. PV of Lease payments are greater than 90% value of Asset 4. Lease Tenure is greater than 75% life of the asset 38:46 Accounting for Business Combinations in IFRS and US GAAP ★ Merger In IFRS ★Acquisition in IFRS ★ Consolidation in IFRS ★ Acquisition Method vs Pooling of Interest Method 41:45 Full Goodwill vs Partial Goodwill ★★ IFRS : Both Full and Partial Goodwill Allowed ★★ US GAAP: Full Goodwill -
6:40US GAAP -- An introduction
US GAAP -- An introductionUS GAAP -- An introduction
This discussion focuses on the financial statement aspects of listing in the US and other considerations a public company needs to make whilst operating under the US Securities and Exchange Commission.
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What is GAAP?
GAAP stands for Generally Accepted Accounting Principles; these are the standard and commonly accepted ways of recording and reporting accounting. GAAP is the acronym for generally accepted accounting principles. That means the basic accounting principles and guidelines such as the cost principle, matching principle, full disclosure, etc., the detailed standards and other rules issued by the Financial Accounting Standards Board and its predecessor the Accounting Principles Board, and generally accepted industry practices. GAAP must be adhered to when a company distributes its financial statements outside of the company. If a corporation's stock is publicly traded, the financial statements must also adhere to rules established by the overseeing governmental agency. This includes having its... -
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US GAAP vs. IFRS on the Financial Statements
You'll learn the key differences between US GAAP and IFRS on the 3 main financial statements (Income Statement, Balance Sheet, and Cash Flow Statement). By http://breakingintowallstreet.com/ "Financial Modeling Training And Career Resources For Aspiring Investment Bankers" You'll also learn how to adjust an international company's financial statements to make it easier to model and project over time. Table of Contents: 1:46 Why US GAAP vs. IFRS Matters 5:28 Income Statement Terminology Differences 7:34 Balance Sheet Differences 14:09 How to Adjust the Financial Statements for an IFRS Company 20:02 Recap and Summary Income Statement: The Income Statement is very similar regardless of the accounting system. Some items have different names (e.g., Revenue is often called Turnover and Net... -
Introduction to GAAP - General Ledger
This tutorial presents a summary of Generally Accepted Accounting principles also known as GAAP or accounting standards. Generally Accepted Accounting Principles define the accounting procedures, and understanding them is essential to producing accurate and meaningful records. In this article we emphasize on accounting principles and concepts so that the learner can understand the "why" of accounting which will help you gain an understanding of the full significance of accounting. -
What are US GAAP and IFRS - Video Slides 1-20
This video the full video that includes all 20 slides used to discuss the topic "What are US GAAP and IFRS?" The individual slide-specific videos are available in a playlist titled "What are US GAAP and IFRS?" I created this full video for those who felt that watching the videos using the playlist took too long. The reality is that this edited full video is a bit shorter than the slide videos because I have edited out some silence. These videos are part of a free online course in accounting created by Kevin Kimball of Brigham Young University -- Hawaii using the Canvas Network's Learning Management System (LMS). The actual course will first become available for enrollment a couple months prior to the start of Winter Semester 2014 (which starts in January) at learn.canvas.net. Aside... -
CFA Level I - US GAAP vs IFRS - Part I (of 2)
Part II of this video series is available to FinTree On-line Program Subscribers. To know more visit us at : FinTree website link: http://www.fintreeindia.com FB Page link :http://www.facebook.com/Fin... We love what we do, and we make awesome video lectures for CFA and FRM exams. Our Video Lectures are comprehensive, easy to understand and most importantly, fun to study with! This Video lecture was recorded by our popular trainer for CFA, Mr. Utkarsh Jain, during one of his live CFA Level I Classes in Pune (India). This Video Lecture series covers following key differences between US GAAP vs IFRS which can be tested on CFA Level I Exams. 1. Statement of Comprehensive Income IFRS : Income Statement can be Combined with Other Comprehensive Income and presented a Single Statement of... -
GAAP/ Accounting Concepts/ Accounting Principles
Accounting (Grade 11): GAAP and Accounting Concepts, GAAP- Generally Accepted Accounting Principles, Need for GAAP, IFRS and its Requirement, Accounting Principles- Accounting Assumptions/ Concepts Accounting Conventions Accounting Concepts- Going Concern Accounting Entity Money Measurement Accounting Period Revenue Recognition Verifiable Objective Matching Concept Cost Concept Accrual Concept ... -
CFA Level II Key differences between US GAAP and IFRS PART I
FinTree website link: http://www.fintreeindia.com FB Page link :http://www.facebook.com/Fin... We love what we do, and we make awesome video lectures for CFA and FRM exams. Our Video Lectures are comprehensive, easy to understand and most importantly, fun to study with! This Video lecture was recorded by our popular trainer for CFA, Mr. Utkarsh Jain, during one of his live CFA Level II Classes in Pune (India). This video covers following key area's: 1:10 Permissible inventory cost flow methods in IFRS and US GAAP 1:25 Concept of LIFO reserve 5:43 Inventory Valuation method of US GAAP and IFRS ★★ IFRS: Inventory is reported at lower of Cost or NRV, Inventory write up is allowed to the extent of previous write down. ★★US GAAP: Inventory is reported at lower of Cost or Market, No Subs... -
US GAAP -- An introduction
This discussion focuses on the financial statement aspects of listing in the US and other considerations a public company needs to make whilst operating under the US Securities and Exchange Commission.
What is GAAP?
- Order: Reorder
- Duration: 1:55
- Updated: 21 Jan 2015
- views: 5710
GAAP stands for Generally Accepted Accounting Principles; these are the standard and commonly accepted ways of recording and reporting accounting. GAAP is the ...
GAAP stands for Generally Accepted Accounting Principles; these are the standard and commonly accepted ways of recording and reporting accounting. GAAP is the acronym for generally accepted accounting principles. That means the basic accounting principles and guidelines such as the cost principle, matching principle, full disclosure, etc., the detailed standards and other rules issued by the Financial Accounting Standards Board and its predecessor the Accounting Principles Board, and generally accepted industry practices.
GAAP must be adhered to when a company distributes its financial statements outside of the company. If a corporation's stock is publicly traded, the financial statements must also adhere to rules established by the overseeing governmental agency. This includes having its financial statements audited by an independent accounting firm.
Accountants use generally accepted accounting principles to guide them in recording and reporting financial information. GAAP comprises a broad set of principles that have been developed by the accounting profession.
In 2008, the Securities and Exchange Commission issued a preliminary "roadmap" that may lead the United States to abandon Generally Accepted Accounting Principles in the and to join more than 100 countries around the world instead in using the London-based International Financial Reporting Standard. The SEC expressed their aim to fully adopt International Financial Reporting Standards in the U.S. by 2014. With the convergence of the U.S. GAAP and the international IFRS accounting systems, as the highest authority over International Financial Reporting Standards, the International Accounting Standards Board is becoming more important in the United States.
By Barry Norman, Investors Trading Academy
wn.com/What Is Gaap
GAAP stands for Generally Accepted Accounting Principles; these are the standard and commonly accepted ways of recording and reporting accounting. GAAP is the acronym for generally accepted accounting principles. That means the basic accounting principles and guidelines such as the cost principle, matching principle, full disclosure, etc., the detailed standards and other rules issued by the Financial Accounting Standards Board and its predecessor the Accounting Principles Board, and generally accepted industry practices.
GAAP must be adhered to when a company distributes its financial statements outside of the company. If a corporation's stock is publicly traded, the financial statements must also adhere to rules established by the overseeing governmental agency. This includes having its financial statements audited by an independent accounting firm.
Accountants use generally accepted accounting principles to guide them in recording and reporting financial information. GAAP comprises a broad set of principles that have been developed by the accounting profession.
In 2008, the Securities and Exchange Commission issued a preliminary "roadmap" that may lead the United States to abandon Generally Accepted Accounting Principles in the and to join more than 100 countries around the world instead in using the London-based International Financial Reporting Standard. The SEC expressed their aim to fully adopt International Financial Reporting Standards in the U.S. by 2014. With the convergence of the U.S. GAAP and the international IFRS accounting systems, as the highest authority over International Financial Reporting Standards, the International Accounting Standards Board is becoming more important in the United States.
By Barry Norman, Investors Trading Academy
- published: 21 Jan 2015
- views: 5710
Introduction to GAAP and Transaction Analysis
- Order: Reorder
- Duration: 14:22
- Updated: 14 Oct 2011
- views: 17557
Introduction to GAAP and transaction analysis
Introduction to GAAP and transaction analysis
wn.com/Introduction To Gaap And Transaction Analysis
Financial Accounting: GAAP Principles and Concepts
- Order: Reorder
- Duration: 2:40
- Updated: 24 Nov 2014
- views: 4631
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Help us caption & translate this video!
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wn.com/Financial Accounting Gaap Principles And Concepts
US GAAP vs. IFRS on the Financial Statements
- Order: Reorder
- Duration: 21:58
- Updated: 13 May 2014
- views: 31755
You'll learn the key differences between US GAAP and IFRS on the 3 main financial statements (Income Statement, Balance Sheet, and Cash Flow Statement).
By http...
You'll learn the key differences between US GAAP and IFRS on the 3 main financial statements (Income Statement, Balance Sheet, and Cash Flow Statement).
By http://breakingintowallstreet.com/ "Financial Modeling Training And Career Resources For Aspiring Investment Bankers"
You'll also learn how to adjust an international company's financial statements to make it easier to model and project over time.
Table of Contents:
1:46 Why US GAAP vs. IFRS Matters
5:28 Income Statement Terminology Differences
7:34 Balance Sheet Differences
14:09 How to Adjust the Financial Statements for an IFRS Company
20:02 Recap and Summary
Income Statement:
The Income Statement is very similar regardless of the accounting system.
Some items have different names (e.g., Revenue is often called Turnover and Net Income is often called Profit), but that's about it.
Balance Sheet:
There are more differences on the Balance Sheet - items are often arranged in a different order (sometimes Long-Term Assets are listed first, then Current Assets, then Equity, then Long-Term Liabilities and Current Liabilities at the end).
The Balance Sheet itself is usually called the "Statement of Financial Position."
Also, items within the Equity section often have different names:
Common Stock is called "Share Capital" or "Issued Capital."
Additional Paid-In Capital is often called the "Share Premium."
Retained Earnings and Treasury Stock tend to have similar names.
IFRS-based companies also have many "Reserve" categories for items such as FX translation differences and unrealized gains and losses.
For US-based companies, these items show up within Accumulated Other Comprehensive Income (AOIC) rather than being split out into separate "Reserve" categories.
But the FUNCTIONALITY of the Balance Sheet is still very similar (items still flow in and change the same way), even if items have different names or are grouped differently.
Cash Flow Statement
There are more differences on the Cash Flow Statement, because most US-based companies use the INDIRECT method and most international companies use the DIRECT method.
The Indirect Method starts with Net Income, makes non-cash adjustments, and lists the changes in Working Capital in the Cash Flow from Operations section.
The Direct Method simply lists the cash received from customers and cash paid to suppliers and employees, along with income taxes and interest and other expenses, and so you don't see the full details behind the non-cash adjustments and working capital spending.
When this happens, it is much, much harder to link the financial statements because changes in items such as Accounts Receivable and Accounts Payable won't flow into anything on the Cash Flow Statement.
So we recommend ADJUSTING the financial statements as follows:
First, find a reconciliation between this Cash Flow Statement and the company's operating income and/or net income.
Then, make the Cash Flow Statement start with Net Income instead, as it normally does, and include all the line items from this reconciliation (non-cash adjustments, Working Capital changes, etc.).
And if there are still remaining differences between items such as income taxes and interest expense on the Income Statement vs. Cash Flow Statement, make adjusting entries on the CFS that indicate the true cash amount that a company paid for those.
Further Resources
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-US-GAAP-vs-IFRS.xlsx
Examples of Financial Statements for US-Based Companies:
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-US-Chuck-E-Cheese.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-US-Jazz-Pharmaceuticals.pdf
Examples of Financial Statements for International Companies:
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Australia-Telstra.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Brazil-Ambev.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-China-TenCent.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-France-Vivendi.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-India-Infosys.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Japan-Suntory.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Korea-Samsung.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Mexico-FEMSA.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Russia-Rostelecom.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Saudi-Arabia-Saudi-Telecom.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Singapore-SG-Airlines.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-South-Africa-PPC.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-UAE-DP-World.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-UK-Easyjet.pdf
wn.com/US Gaap Vs. Ifrs On The Financial Statements
You'll learn the key differences between US GAAP and IFRS on the 3 main financial statements (Income Statement, Balance Sheet, and Cash Flow Statement).
By http://breakingintowallstreet.com/ "Financial Modeling Training And Career Resources For Aspiring Investment Bankers"
You'll also learn how to adjust an international company's financial statements to make it easier to model and project over time.
Table of Contents:
1:46 Why US GAAP vs. IFRS Matters
5:28 Income Statement Terminology Differences
7:34 Balance Sheet Differences
14:09 How to Adjust the Financial Statements for an IFRS Company
20:02 Recap and Summary
Income Statement:
The Income Statement is very similar regardless of the accounting system.
Some items have different names (e.g., Revenue is often called Turnover and Net Income is often called Profit), but that's about it.
Balance Sheet:
There are more differences on the Balance Sheet - items are often arranged in a different order (sometimes Long-Term Assets are listed first, then Current Assets, then Equity, then Long-Term Liabilities and Current Liabilities at the end).
The Balance Sheet itself is usually called the "Statement of Financial Position."
Also, items within the Equity section often have different names:
Common Stock is called "Share Capital" or "Issued Capital."
Additional Paid-In Capital is often called the "Share Premium."
Retained Earnings and Treasury Stock tend to have similar names.
IFRS-based companies also have many "Reserve" categories for items such as FX translation differences and unrealized gains and losses.
For US-based companies, these items show up within Accumulated Other Comprehensive Income (AOIC) rather than being split out into separate "Reserve" categories.
But the FUNCTIONALITY of the Balance Sheet is still very similar (items still flow in and change the same way), even if items have different names or are grouped differently.
Cash Flow Statement
There are more differences on the Cash Flow Statement, because most US-based companies use the INDIRECT method and most international companies use the DIRECT method.
The Indirect Method starts with Net Income, makes non-cash adjustments, and lists the changes in Working Capital in the Cash Flow from Operations section.
The Direct Method simply lists the cash received from customers and cash paid to suppliers and employees, along with income taxes and interest and other expenses, and so you don't see the full details behind the non-cash adjustments and working capital spending.
When this happens, it is much, much harder to link the financial statements because changes in items such as Accounts Receivable and Accounts Payable won't flow into anything on the Cash Flow Statement.
So we recommend ADJUSTING the financial statements as follows:
First, find a reconciliation between this Cash Flow Statement and the company's operating income and/or net income.
Then, make the Cash Flow Statement start with Net Income instead, as it normally does, and include all the line items from this reconciliation (non-cash adjustments, Working Capital changes, etc.).
And if there are still remaining differences between items such as income taxes and interest expense on the Income Statement vs. Cash Flow Statement, make adjusting entries on the CFS that indicate the true cash amount that a company paid for those.
Further Resources
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-US-GAAP-vs-IFRS.xlsx
Examples of Financial Statements for US-Based Companies:
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-US-Chuck-E-Cheese.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-US-Jazz-Pharmaceuticals.pdf
Examples of Financial Statements for International Companies:
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Australia-Telstra.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Brazil-Ambev.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-China-TenCent.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-France-Vivendi.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-India-Infosys.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Japan-Suntory.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Korea-Samsung.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Mexico-FEMSA.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Russia-Rostelecom.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Saudi-Arabia-Saudi-Telecom.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-Singapore-SG-Airlines.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-South-Africa-PPC.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-UAE-DP-World.pdf
http://youtube-breakingintowallstreet-com.s3.amazonaws.com/105-09-UK-Easyjet.pdf
- published: 13 May 2014
- views: 31755
Introduction to GAAP - General Ledger
- Order: Reorder
- Duration: 14:44
- Updated: 01 Jul 2013
- views: 8133
This tutorial presents a summary of Generally Accepted Accounting principles also known as GAAP or accounting standards. Generally Accepted Accounting Principle...
This tutorial presents a summary of Generally Accepted Accounting principles also known as GAAP or accounting standards. Generally Accepted Accounting Principles define the accounting procedures, and understanding them is essential to producing accurate and meaningful records. In this article we emphasize on accounting principles and concepts so that the learner can understand the "why" of accounting which will help you gain an understanding of the full significance of accounting.
wn.com/Introduction To Gaap General Ledger
This tutorial presents a summary of Generally Accepted Accounting principles also known as GAAP or accounting standards. Generally Accepted Accounting Principles define the accounting procedures, and understanding them is essential to producing accurate and meaningful records. In this article we emphasize on accounting principles and concepts so that the learner can understand the "why" of accounting which will help you gain an understanding of the full significance of accounting.
- published: 01 Jul 2013
- views: 8133
What are US GAAP and IFRS - Video Slides 1-20
- Order: Reorder
- Duration: 11:05
- Updated: 29 Apr 2013
- views: 25717
This video the full video that includes all 20 slides used to discuss the topic "What are US GAAP and IFRS?" The individual slide-specific videos are available...
This video the full video that includes all 20 slides used to discuss the topic "What are US GAAP and IFRS?" The individual slide-specific videos are available in a playlist titled "What are US GAAP and IFRS?" I created this full video for those who felt that watching the videos using the playlist took too long. The reality is that this edited full video is a bit shorter than the slide videos because I have edited out some silence.
These videos are part of a free online course in accounting created by Kevin Kimball of Brigham Young University -- Hawaii using the Canvas Network's Learning Management System (LMS). The actual course will first become available for enrollment a couple months prior to the start of Winter Semester 2014 (which starts in January) at learn.canvas.net.
Aside from that, all of the videos in this course will be freely available in YouTube with no registration requirement, you just won't have access to the outcome assessment features (i.e. quizzes) and the interaction with the professor and fellow students that will be available in the full course at learn.canvas.net.
The reason I broke the full presentation into multiple individual video slides what twofold 1) it was easier to edit and 2) so that the students taking my online course could jump to each individual slide's video so that they could watch just the video segments they needed most.
Brought to you by the Debits and Credits Trainer Android App.
wn.com/What Are US Gaap And Ifrs Video Slides 1 20
This video the full video that includes all 20 slides used to discuss the topic "What are US GAAP and IFRS?" The individual slide-specific videos are available in a playlist titled "What are US GAAP and IFRS?" I created this full video for those who felt that watching the videos using the playlist took too long. The reality is that this edited full video is a bit shorter than the slide videos because I have edited out some silence.
These videos are part of a free online course in accounting created by Kevin Kimball of Brigham Young University -- Hawaii using the Canvas Network's Learning Management System (LMS). The actual course will first become available for enrollment a couple months prior to the start of Winter Semester 2014 (which starts in January) at learn.canvas.net.
Aside from that, all of the videos in this course will be freely available in YouTube with no registration requirement, you just won't have access to the outcome assessment features (i.e. quizzes) and the interaction with the professor and fellow students that will be available in the full course at learn.canvas.net.
The reason I broke the full presentation into multiple individual video slides what twofold 1) it was easier to edit and 2) so that the students taking my online course could jump to each individual slide's video so that they could watch just the video segments they needed most.
Brought to you by the Debits and Credits Trainer Android App.
- published: 29 Apr 2013
- views: 25717
CFA Level I - US GAAP vs IFRS - Part I (of 2)
- Order: Reorder
- Duration: 31:19
- Updated: 24 Nov 2014
- views: 17872
Part II of this video series is available to FinTree On-line Program Subscribers. To know more visit us at :
FinTree website link: http://www.fintreeindia.com
...
Part II of this video series is available to FinTree On-line Program Subscribers. To know more visit us at :
FinTree website link: http://www.fintreeindia.com
FB Page link :http://www.facebook.com/Fin...
We love what we do, and we make awesome video lectures for CFA and FRM exams. Our Video Lectures are comprehensive, easy to understand and most importantly, fun to study with!
This Video lecture was recorded by our popular trainer for CFA, Mr. Utkarsh Jain, during one of his live CFA Level I Classes in Pune (India).
This Video Lecture series covers following key differences between US GAAP vs IFRS which can be tested on CFA Level I Exams.
1. Statement of Comprehensive Income
IFRS : Income Statement can be Combined with Other Comprehensive Income and presented a Single Statement of Comprehensive Income i.e. IS + OCI = CI OR IS and CI can be presented separately
US GAAP: Similar Presentation except that firms can choose to report Comprehensive Income in Statement of Shareholders Equity
2. Elements Related to Performance
IFRS : Income , Expenses
US GAAP : Revenues, Expenses, Gains, Losses, Comprehensive Income
3. Revenue Recognition Criteria for Sale of Goods
IFRS :
Risk and Reward is transferred
No control over the goods
Revenue reliably measured
Probable flow of economic benefits
Cost can be reliably measured
US GAAP :
Revenue is realized/ realizable
Earned
4. Long Term Contracts
IFRS : When outcome can’t be reliably measured-revenue is recognized to the extent of cost, cost are expenses when incurred, profit recognized on completion
US GAAP : When outcome can’t be reliably measured- Completed Contract Method, Revenue, expenses and profit is recognized when the contract is complete
5. Barter Transactions
IFRS : Revenue must be based on fair value of revenue from similar non barter transaction with non related parties
US GAAP : Revenue can be recognized at fair value only if firm has historically received cash payments for such goods/services
6. Extraordinary Items
IFRS : Does not allow extraordinary items to be reported separately
US GAAP : Unusual and Infrequent items- Reported separately in the income statement , net of tax, after income from continuing operations
7.Balance Sheet Presentation
IFRS : IFRS does not specify the order in which current or non current assets/ liability should be presented
Generally, Companies using IFRS order balance sheet information from least liquid to most liquid.
US GAAP : Generally, Companies using U.S. GAAP (e.g., Colgate) order items on the balance sheet from most liquid to least liquid
8. Cash Flow Statement Items- Non Financial Firm
IFRS :
Dividend Paid: CFO/CFF
Interest Paid: CFO/CFF
Dividend Received: CFO/CFI
Interest Received: CFO/CFI
Taxes Related to Operating activities: CFO
Taxes related to Financing Activities: CFF
Taxes Related to Investing activities: CFI
US GAAP :
Dividend Paid: CFF
Interest Paid: CFO
Dividend Received: CFO
Interest Received: CFO
Taxes Related to Operating activities: CFO
Taxes related to Financing Activities: CFO
Taxes Related to Investing activities: CFO
9.Cash Flow Statement Presentation
US GAAP:
If direct method is used, Firm must add a disclosure of indirect method
Most companies use indirect method
IFRS: No such disclosure required
10. Inventory Valuation Methods
IFRS:
Specific Identification
Weighted Average
FIFO
US GAAP:
Specific Identification
Weighted Average
FIFO
LIFO
11. Inventory Write Downs
Explained through a Flow Chart.
12. Capitalized Interest
IFRS: Income earned by temporary investing borrowed funds reduces the interest that is eligible for capitalization
US GAAP: No such reduction
13. Research and Development cost
IFRS : Research cost - Expensed
Development Cost - Capitalized
US GAAP : Research Cost- Expensed
Development Cost – Expensed
(* Software Development Cost )
14.Software Development Cost
Explained through a Flow Chart.
15. Component Depreciation
IFRS : IFRS Requires firms to depreciate component of Assets separately
Requiring useful life estimates for each component
US GAAP: Component Depreciation is allowed, but seldom used.
16. Cost vs. Revaluation Model
IFRS :
Firms can either use Cost or Revaluation Model
However, same model should be asset for entire asset class
Revaluation model is rarely used in practice
US GAAP : Assets are reported at Cost (–) Accumulated Depreciation
17.Impairment of PPE
Explained through a Flow Chart/
18. Investment PPE
IFRS :
Property owned for the purpose of collecting rental income or capital appreciation is classified as Investment PPE.
Gives a choice of Cost or Fair Value for Investment PPE
Use same valuation model for all PPE
19. Long Term Bond Liability- Calculation
20. Bond Issuance Cost
21. Deferred Tax Assets/ Deferred Tax Liabilities
22. Classification of Lease- Books of Lessee
23. Classification of Lease- Books of Lessor
24. Component of Pension Expense
wn.com/Cfa Level I US Gaap Vs Ifrs Part I (Of 2)
Part II of this video series is available to FinTree On-line Program Subscribers. To know more visit us at :
FinTree website link: http://www.fintreeindia.com
FB Page link :http://www.facebook.com/Fin...
We love what we do, and we make awesome video lectures for CFA and FRM exams. Our Video Lectures are comprehensive, easy to understand and most importantly, fun to study with!
This Video lecture was recorded by our popular trainer for CFA, Mr. Utkarsh Jain, during one of his live CFA Level I Classes in Pune (India).
This Video Lecture series covers following key differences between US GAAP vs IFRS which can be tested on CFA Level I Exams.
1. Statement of Comprehensive Income
IFRS : Income Statement can be Combined with Other Comprehensive Income and presented a Single Statement of Comprehensive Income i.e. IS + OCI = CI OR IS and CI can be presented separately
US GAAP: Similar Presentation except that firms can choose to report Comprehensive Income in Statement of Shareholders Equity
2. Elements Related to Performance
IFRS : Income , Expenses
US GAAP : Revenues, Expenses, Gains, Losses, Comprehensive Income
3. Revenue Recognition Criteria for Sale of Goods
IFRS :
Risk and Reward is transferred
No control over the goods
Revenue reliably measured
Probable flow of economic benefits
Cost can be reliably measured
US GAAP :
Revenue is realized/ realizable
Earned
4. Long Term Contracts
IFRS : When outcome can’t be reliably measured-revenue is recognized to the extent of cost, cost are expenses when incurred, profit recognized on completion
US GAAP : When outcome can’t be reliably measured- Completed Contract Method, Revenue, expenses and profit is recognized when the contract is complete
5. Barter Transactions
IFRS : Revenue must be based on fair value of revenue from similar non barter transaction with non related parties
US GAAP : Revenue can be recognized at fair value only if firm has historically received cash payments for such goods/services
6. Extraordinary Items
IFRS : Does not allow extraordinary items to be reported separately
US GAAP : Unusual and Infrequent items- Reported separately in the income statement , net of tax, after income from continuing operations
7.Balance Sheet Presentation
IFRS : IFRS does not specify the order in which current or non current assets/ liability should be presented
Generally, Companies using IFRS order balance sheet information from least liquid to most liquid.
US GAAP : Generally, Companies using U.S. GAAP (e.g., Colgate) order items on the balance sheet from most liquid to least liquid
8. Cash Flow Statement Items- Non Financial Firm
IFRS :
Dividend Paid: CFO/CFF
Interest Paid: CFO/CFF
Dividend Received: CFO/CFI
Interest Received: CFO/CFI
Taxes Related to Operating activities: CFO
Taxes related to Financing Activities: CFF
Taxes Related to Investing activities: CFI
US GAAP :
Dividend Paid: CFF
Interest Paid: CFO
Dividend Received: CFO
Interest Received: CFO
Taxes Related to Operating activities: CFO
Taxes related to Financing Activities: CFO
Taxes Related to Investing activities: CFO
9.Cash Flow Statement Presentation
US GAAP:
If direct method is used, Firm must add a disclosure of indirect method
Most companies use indirect method
IFRS: No such disclosure required
10. Inventory Valuation Methods
IFRS:
Specific Identification
Weighted Average
FIFO
US GAAP:
Specific Identification
Weighted Average
FIFO
LIFO
11. Inventory Write Downs
Explained through a Flow Chart.
12. Capitalized Interest
IFRS: Income earned by temporary investing borrowed funds reduces the interest that is eligible for capitalization
US GAAP: No such reduction
13. Research and Development cost
IFRS : Research cost - Expensed
Development Cost - Capitalized
US GAAP : Research Cost- Expensed
Development Cost – Expensed
(* Software Development Cost )
14.Software Development Cost
Explained through a Flow Chart.
15. Component Depreciation
IFRS : IFRS Requires firms to depreciate component of Assets separately
Requiring useful life estimates for each component
US GAAP: Component Depreciation is allowed, but seldom used.
16. Cost vs. Revaluation Model
IFRS :
Firms can either use Cost or Revaluation Model
However, same model should be asset for entire asset class
Revaluation model is rarely used in practice
US GAAP : Assets are reported at Cost (–) Accumulated Depreciation
17.Impairment of PPE
Explained through a Flow Chart/
18. Investment PPE
IFRS :
Property owned for the purpose of collecting rental income or capital appreciation is classified as Investment PPE.
Gives a choice of Cost or Fair Value for Investment PPE
Use same valuation model for all PPE
19. Long Term Bond Liability- Calculation
20. Bond Issuance Cost
21. Deferred Tax Assets/ Deferred Tax Liabilities
22. Classification of Lease- Books of Lessee
23. Classification of Lease- Books of Lessor
24. Component of Pension Expense
- published: 24 Nov 2014
- views: 17872
GAAP/ Accounting Concepts/ Accounting Principles
- Order: Reorder
- Duration: 16:59
- Updated: 01 Sep 2015
- views: 1681
Accounting (Grade 11): GAAP and Accounting Concepts,
GAAP- Generally Accepted Accounting Principles,
Need for GAAP,
IFRS and its Requirement,
Accounting Princip...
Accounting (Grade 11): GAAP and Accounting Concepts,
GAAP- Generally Accepted Accounting Principles,
Need for GAAP,
IFRS and its Requirement,
Accounting Principles- Accounting Assumptions/ Concepts
Accounting Conventions
Accounting Concepts- Going Concern
Accounting Entity
Money Measurement
Accounting Period
Revenue Recognition
Verifiable Objective
Matching Concept
Cost Concept
Accrual Concept
Dual Aspect Concept
Video by Edupedia World (www.edupediaworld.com). All Rights Reserved.
wn.com/Gaap Accounting Concepts Accounting Principles
Accounting (Grade 11): GAAP and Accounting Concepts,
GAAP- Generally Accepted Accounting Principles,
Need for GAAP,
IFRS and its Requirement,
Accounting Principles- Accounting Assumptions/ Concepts
Accounting Conventions
Accounting Concepts- Going Concern
Accounting Entity
Money Measurement
Accounting Period
Revenue Recognition
Verifiable Objective
Matching Concept
Cost Concept
Accrual Concept
Dual Aspect Concept
Video by Edupedia World (www.edupediaworld.com). All Rights Reserved.
- published: 01 Sep 2015
- views: 1681
CFA Level II Key differences between US GAAP and IFRS PART I
- Order: Reorder
- Duration: 46:43
- Updated: 13 Feb 2013
- views: 22640
FinTree website link: http://www.fintreeindia.com
FB Page link :http://www.facebook.com/Fin...
We love what we do, and we make awesome video lectures for CFA ...
FinTree website link: http://www.fintreeindia.com
FB Page link :http://www.facebook.com/Fin...
We love what we do, and we make awesome video lectures for CFA and FRM exams. Our Video Lectures are comprehensive, easy to understand and most importantly, fun to study with!
This Video lecture was recorded by our popular trainer for CFA, Mr. Utkarsh Jain, during one of his live CFA Level II Classes in Pune (India).
This video covers following key area's:
1:10 Permissible inventory cost flow methods in IFRS and US GAAP
1:25 Concept of LIFO reserve
5:43 Inventory Valuation method of US GAAP and IFRS
★★ IFRS: Inventory is reported at lower of Cost or NRV, Inventory write up is allowed to the extent of previous write down.
★★US GAAP: Inventory is reported at lower of Cost or Market, No Subsequent write up's are allowed
9:00 Asset Valuations model allowed under US GAAP and IFRS
★★IFRS : Cost model or Asset Revaluation Model
★★ US GAAP: Cost Model
11:41 Asset Impairment under US GAAP vs IFRS
★★IFRS : Compare Carrying Value vs Recoverable Amount ( Recoverable amount is greater of Net Realisable Value or Value in use)
★★US GAAP: Impairment loss is calculated in two steps:
Step no 1: Compare Carrying Value vs undiscounted Future Cash Flow's
Step no 2: Impairment Loss : Carrying value - Discounted future cash flow's
17:29 Impairment of Goodwill in IFRS vs US GAAP
22:00 Recognition of lease as either Operating Lease or Finance Lease in IFRS and US GAAP
★★ IFRS : Based on Economic Substance
★★ US GAAP : Recognise as Finance Lease if one of the following four criteria's are met:
1. Title Transfer Clause
2. Bargain Purchase Clause
3. PV of Lease payments are greater than 90% value of Asset
4. Lease Tenure is greater than 75% life of the asset
38:46 Accounting for Business Combinations in IFRS and US GAAP
★ Merger In IFRS
★Acquisition in IFRS
★ Consolidation in IFRS
★ Acquisition Method vs Pooling of Interest Method
41:45 Full Goodwill vs Partial Goodwill
★★ IFRS : Both Full and Partial Goodwill Allowed
★★ US GAAP: Full Goodwill
wn.com/Cfa Level Ii Key Differences Between US Gaap And Ifrs Part I
FinTree website link: http://www.fintreeindia.com
FB Page link :http://www.facebook.com/Fin...
We love what we do, and we make awesome video lectures for CFA and FRM exams. Our Video Lectures are comprehensive, easy to understand and most importantly, fun to study with!
This Video lecture was recorded by our popular trainer for CFA, Mr. Utkarsh Jain, during one of his live CFA Level II Classes in Pune (India).
This video covers following key area's:
1:10 Permissible inventory cost flow methods in IFRS and US GAAP
1:25 Concept of LIFO reserve
5:43 Inventory Valuation method of US GAAP and IFRS
★★ IFRS: Inventory is reported at lower of Cost or NRV, Inventory write up is allowed to the extent of previous write down.
★★US GAAP: Inventory is reported at lower of Cost or Market, No Subsequent write up's are allowed
9:00 Asset Valuations model allowed under US GAAP and IFRS
★★IFRS : Cost model or Asset Revaluation Model
★★ US GAAP: Cost Model
11:41 Asset Impairment under US GAAP vs IFRS
★★IFRS : Compare Carrying Value vs Recoverable Amount ( Recoverable amount is greater of Net Realisable Value or Value in use)
★★US GAAP: Impairment loss is calculated in two steps:
Step no 1: Compare Carrying Value vs undiscounted Future Cash Flow's
Step no 2: Impairment Loss : Carrying value - Discounted future cash flow's
17:29 Impairment of Goodwill in IFRS vs US GAAP
22:00 Recognition of lease as either Operating Lease or Finance Lease in IFRS and US GAAP
★★ IFRS : Based on Economic Substance
★★ US GAAP : Recognise as Finance Lease if one of the following four criteria's are met:
1. Title Transfer Clause
2. Bargain Purchase Clause
3. PV of Lease payments are greater than 90% value of Asset
4. Lease Tenure is greater than 75% life of the asset
38:46 Accounting for Business Combinations in IFRS and US GAAP
★ Merger In IFRS
★Acquisition in IFRS
★ Consolidation in IFRS
★ Acquisition Method vs Pooling of Interest Method
41:45 Full Goodwill vs Partial Goodwill
★★ IFRS : Both Full and Partial Goodwill Allowed
★★ US GAAP: Full Goodwill
- published: 13 Feb 2013
- views: 22640
US GAAP -- An introduction
- Order: Reorder
- Duration: 6:40
- Updated: 26 Mar 2013
- views: 4118
This discussion focuses on the financial statement aspects of listing in the US and other considerations a public company needs to make whilst operating under t...
This discussion focuses on the financial statement aspects of listing in the US and other considerations a public company needs to make whilst operating under the US Securities and Exchange Commission.
wn.com/US Gaap An Introduction
This discussion focuses on the financial statement aspects of listing in the US and other considerations a public company needs to make whilst operating under the US Securities and Exchange Commission.
- published: 26 Mar 2013
- views: 4118
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What is GAAP?
GAAP stands for Generally Accepted Accounting Principles; these are the standard and commo...
published: 21 Jan 2015
What is GAAP?
What is GAAP?
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14:22
Introduction to GAAP and Transaction Analysis
Introduction to GAAP and transaction analysis
published: 14 Oct 2011
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Introduction to GAAP and Transaction Analysis
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Financial Accounting: GAAP Principles and Concepts
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Financial Accounting: GAAP Principles and Concepts
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21:58
US GAAP vs. IFRS on the Financial Statements
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US GAAP vs. IFRS on the Financial Statements
US GAAP vs. IFRS on the Financial Statements
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Introduction to GAAP - General Ledger
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What are US GAAP and IFRS - Video Slides 1-20
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CFA Level I - US GAAP vs IFRS - Part I (of 2)
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GAAP/ Accounting Concepts/ Accounting Principles
Accounting (Grade 11): GAAP and Accounting Concepts,
GAAP- Generally Accepted Accounting P...
published: 01 Sep 2015
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GAAP/ Accounting Concepts/ Accounting Principles
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CFA Level II Key differences between US GAAP and IFRS PART I
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US GAAP -- An introduction
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-
Lyrics list:lyrics
-
Gaap
Gaap
Ik moet gaan
Pak m'n tas
Op het eerste uur alweer in de klas
Veel te vroeg
'K heb geen zin
'K wil nog even slapen voor de les begint
Ik gaaap
Droom droom heel de les, les
Droom droom heel de les, les
Ik gaaap
Droom droom heel de les, les
Droom droom heel de les, les
Maandag is genoeg stress stress
Elke maandag is weer stom (stom)
Verrassend dat ik kom (kom)
Op school in de vroege morgen (uhg)
Te vroeg om me te verzorgen
M'n haar ziet er dus niet uit
Om niet te spreken over m'n huid
Ben mn boeken ook weer kwijt
Stap in een drop waardoor ik uitglijd
Ik moet gaan
Pak m'n tas
Op het eerste uur alweer in de klas
Veel te vroeg
'K heb geen zin
'K wil nog even slapen voor de les begint
Ik gaaap
Droom droom heel de les, les
Droom droom heel de les, les
Ik gaaap
Droom droom heel de les, les
Droom droom heel de les, les
Maandag is genoeg stress, stress
'K heb het eerste uur verslapen, als het meezit
Mis de tram, mis de trein, en dat in één rit
Meneer de conducteur vraagt waar m'n OV is
Heb ik geen idee, mn portemonnee, shit!
Met honger zonder geld, chillen in de kantine
Vrienden lenen wel, maar willen eraan verdienen
Doe mn ogen dicht voor een ogenblik
Ik word wakker met stiftstrepen over m'n gezicht
Ik moet gaan
Pak m'n tas
Op het eerste uur alweer in de klas
Veel te vroeg
'K heb geen zin
'K wil nog even slapen voor de les begint
Ik gaaap
Droom droom heel de les, les
Droom droom heel de les, les
Ik gaaap
Droom droom heel de les, les
Droom droom heel de les, les
Ik gaaap
Droom droom heel de les, les
Droom droom heel de les, les
Maandag is genoeg stress, stress
En dan gaat m'n tas ineens kapot
Deze hele dag is flink verrot (en hoe?)
De situatie waarin in beland
Met m'n zaakie tegen de tafelrand
Was die poep onder m'n zool vergeten
Het stinkt echt als de neten
Iedereen zegt: "Oh, oh, oh,"
"oh, oh, oh"
Ik moet gaan
Pak m'n tas
Op het eerste uur alweer in de klas
Veel te vroeg
'K heb geen zin
'K wil nog even slapen voor de les begint
Ik gaaap
Droom droom heel de les, les
photo: AP/Mike Derer
[VIDEO]: Giuliani Continues Attacks On Black Lives Matter
Edit WorldNews.com 11 Jul 2016
Former New York City Mayor Rudy Giuliani has spent the last two days on network and cable TV news programs castigating black Americans for their own plight and claiming groups like Black Lives Matter are racist ... All lives matter.” – Former NYC Mayor Rudy Giuliani ... “I saved more black lives than anyone in the history of the city,” Giuliani claimed ... “I believe I saved a lot more black lives than Black Lives Matter....
photo: AP / Tony Gutierrez
Black Militant Groups Had Blackballed Dallas Police Shooter
Edit WorldNews.com 11 Jul 2016
Micah Johnson was rejected from a black militant group two years before he killed five police officers and wounded six others during a Dallas shooting spree, RawStory.com reported, citing a story from The Daily Beast.The gunman had been sent home from Afghanistan and discharged from the U.S....
photo: AP / Wong Maye-E
North Korea Closes Only Communications Link With U.S.
Edit WorldNews.com 12 Jul 2016
relations “under the wartime law of the DPRK," according to the Korean Central News Agency (KCNA), North Korea's state-run news agency."The DPRK government sent the U.S. government a message on July 10 through the DPRK permanent mission to the UN in connection with the fact that the U.S ... – KCNA The U.S....
photo: AP / Sang Tan, FILE
Why the Chilcot Inquiry Was Faulty And Mr. Blair Is Guilty
Edit WorldNews.com 11 Jul 2016
Article by WN.com Correspondent Dallas DarlingDespite ultimately causing the deaths of hundreds of thousands of people and millions of refugees, including the rise of ISIS, it didn’t take very long for Tony Blair to declare his innocence once the Chilcot Inquiry was released ... Unlike commoners, intent became the key in which rulers could escape criminal charges and punishment ... Bush planned to “fix the facts” before invading Iraq....
photo: Creative Commons
Theresa May will be new UK leader after rival quits
Edit The Associated Press 11 Jul 2016
LONDON (AP) -- Britain is set to get a new prime minister within two days, after a tumultuous two weeks that saw the previous one toppled and several potential replacements felled by political intrigue. Home Secretary Theresa May became the country's leader-in-waiting after her sole remaining rival unexpectedly withdrew, saying Britain needs stability amid the uncertainty caused by its vote to leave the European Union ... ....
« back to news headlines
Plains All American Pipeline, L.P. and Plains GP Holdings Announce Distributions; PAA Confirms 2016 Adjusted EBITDA Guidance (Plains GP Holdings LP)
Edit Public Technologies 12 Jul 2016
Non-GAAP Financial Measures. EBITDA and adjusted EBITDA are non-GAAP financial measures that are most directly comparable to GAAP measures of net income and cash flow from operating activities ... PAA's Form 8-K furnished on May 4, 2016 presents a calculation of EBITDA and adjusted EBITDA, a reconciliation of these non-GAAP measures to the most directly ......
Plains All American Pipeline, L.P. and Plains GP Holdings Announce Distributions; PAA Confirms 2016 Adjusted EBITDA Guidance (Plains All American Pipeline LP)
Edit Public Technologies 12 Jul 2016
Non-GAAP Financial Measures. EBITDA and adjusted EBITDA are non-GAAP financial measures that are most directly comparable to GAAP measures of net income and cash flow from operating activities ... PAA's Form 8-K furnished on May 4, 2016 presents a calculation of EBITDA and adjusted EBITDA, a reconciliation of these non-GAAP measures to the most directly ......
Regency Centers Announces Pricing of Common Stock Offering
Edit Stockhouse 12 Jul 2016
Non-GAAP Disclosure ... This provides a perspective of the Company’s financial performance not immediately apparent from net income determined in accordance with GAAP. Thus, NAREIT FFO is a supplemental non-GAAP financial measure of the Company's operating performance, which does not represent cash generated from operating activities in accordance with ......
Regency Centers Announces Pricing of Common Stock Offering (Regency Centers Corporation)
Edit Public Technologies 12 Jul 2016
Non-GAAP Disclosure ... This provides a perspective of the Company's financial performance not immediately apparent from net income determined in accordance with GAAP. Thus, NAREIT FFO is a supplemental non-GAAP financial measure of the Company's operating performance, which does not represent cash generated from operating activities in accordance with ......
Alcoa Second Quarter Earnings Release (Alumina Limited)
Edit Public Technologies 12 Jul 2016
(Source ... Further, unlike Alumina Limited, Alcoa reports under US GAAP ... 12 July 2016 ... Phone ... Adjusted EBITDA is a non-GAAP financial measure derived from Alcoa's consolidated financial information. Alcoa Inc's financial statements are prepared in accordance with US GAAP. The definition of Adjusted EBITDA and reconciliations to the most directly comparable GAAP financial measure can be found in the schedules to Alcoa Inc's earnings release....
Albemarle announces quarterly dividend (Albemarle Corporation)
Edit Public Technologies 12 Jul 2016
(Source. Albemarle Corporation). CHARLOTTE, N.C., July 11, 2016 /PRNewswire/ -- The board of directors of Albemarle Corporation (NYSE ... About Albemarle ... We regularly post information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding our company, its businesses and the markets it serves ... (noodl....
Seagate Technology Announces Preliminary Financial Information for Fiscal Fourth Quarter and Year-End 2016
Edit Stockhouse 11 Jul 2016
Seagate expects to report revenue of approximately $2.65 billion, gross margin of 25% and non-GAAP gross margin of approximately 25.8% for the fiscal fourth quarter 2016 ... These preliminary results compare to the Company’s previous forecast for fiscal fourth quarter 2016 revenue of approximately $2.3 billion and non-GAAP gross margin of approximately 23% ... Use of non-GAAP financial information ... Preliminary GAAP Gross Margin 25 %....
Imperva Announces Preliminary Second Quarter 2016 Financial Results
Edit Stockhouse 11 Jul 2016
Imperva also expects to report non-GAAP operating loss in the second quarter of 2016 in the range of $(6.0) million to $(6.5) million, and expects to report non-GAAP net loss per share in the range of $(0.20) to $(0.22) using approximately 32.1 million weighted average shares, based on preliminary financial information ... Preliminary non-GAAP results exclude stock-based compensation and amortization of purchased intangibles....
Imperva Announces Preliminary Second Quarter 2016 Financial Results (Imperva Inc)
Edit Public Technologies 11 Jul 2016
Imperva also expects to report non-GAAP operating loss in the second quarter of 2016 in the range of $(6.0) million to $(6.5) million, and expects to report non-GAAP net loss per share in the range of $(0.20) to $(0.22) using approximately 32.1 million weighted average shares, based on preliminary financial information ... Preliminary non-GAAP results exclude stock-based compensation and amortization of purchased intangibles....
BRIEF-Imperva sees Q2 non-gaap loss per share $0.20-$0.22
Edit Reuters 11 Jul 2016
* Imperva announces preliminary second quarter 2016 financial results ....
SYNNEX to acquire The Minacs Group Pte Ltd. and integrate with Concentrix (SYNNEX Corporation)
Edit Public Technologies 11 Jul 2016
Adds approximately $400M of revenue and $0.53 per share non-GAAP earnings Adds key clients across strategic verticals ... Non-GAAP Financial Information. SYNNEX has provided in this press release, information related to the projected impact of the acquisition on the company's earnings per share on a non-GAAP basis, as it excludes one-time acquisition related expenses, intangible amortization and restructuring charges....
Levi Strauss & Co. Announces Second-Quarter 2016 Financial Results (Levi Strauss & Co)
Edit Public Technologies 11 Jul 2016
Please see http.//www.levistrauss.com/investors/earnings-webcast for a discussion and reconciliation of non-GAAP measures referenced on the investor conference call ... Non-GAAP Financial Measures. The company reports its financial results in conformity with generally accepted accounting principles in the United States ("GAAP") and the rules of the SEC....
Wright Medical Group N.V. Announces Binding Offer Under Which Corin Orthopaedics Holdings Limited Would Acquire ...
Edit Stockhouse 11 Jul 2016
Non-GAAP Financial Measures ... generally accepted accounting principles (GAAP), the company uses certain non-GAAP financial measures in this release, including adjusted EBITDA from continuing operations ... The company's management believes that the presentation of this non-GAAP financial measure provides useful information to investors ... Wright’s non-GAAP ......
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