Is there a global GAAP (generally accepted accounting principles)? Explain your answer.
Question:
Is there a global GAAP (generally accepted accounting principles)? Explain your answer.
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (16 reviews)
There is an effort to bring the acc...View the full answer
Answered By
Rustia Melrod
I am a retired teacher with 6 years of experience teaching various science subjects to high school students and undergraduate students. This background enables me to be able to help tutor students who are struggling with the science of business component of their education. Teaching difficult subjects has definitely taught me patience. There is no greater joy for me than to patiently guide a student to the correct answer. When a student has that "aha!" moment, all my efforts are worth it.
The Common Core standards are a useful yardstick for measuring how well students are doing. My students consistently met or exceeded the Common Core standards for science. I believe in working with each student's individual learning styles to help them understand the material. If students were struggling with a concept, I would figure out a different way to teach or apply that concept. I was voted Teacher of the Year six times in my career. I also won an award for Innovative Teaching Style at the 2011 National Teaching Conference.
4.90+
4+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Generally, accepted accounting principles GAAP give us guidance for recognizing the costs of purchased capital assets and constructed capital assets What is the difference in the costs between the...
-
Explain the differences between Generally Accepted Accounting Principles ( GAAP ) and International Financial Reporting Standards (IFRS). The implications on business if operating in Sweden and...
-
Explain the purpose of Generally Accepted Accounting Principles (GAAP), including the organization currently responsible for the creation and governance of these standards.
-
Which of the following is not a suggested procedure to establish internal control over cash disbursements? The bank statement is reconciled monthly. Anyone can sign the checks. Blank checks are...
-
Langston Labs has an overall (composite) WACC of 10%, which reflects the cost of capital for its average asset. Its assets vary widely in risk, and Langston evaluates low-risk projects with a WACC of...
-
In Exercises 2136, find the vertical asymptotes, if any, and the values of x corresponding to holes, if any, of the graph of each rational function. h(x) = X x(x + 4)
-
Vivian Milroy Callaway, vicepresidenta del Centro para Aprendizaje y Experimentacin de General Mills, repite la historia de los indulgentes, deliciosos y pegajosos Warm Delights. La resume as: Cuando...
-
Toyota has decided to set up regional warehouses where some variants of the Scion will be customized and shipped to dealers on demand. Customizing and shipping on demand will raise production and...
-
Please answer question #3, SHOWING ALL WORK ACCORDINGLY. Thank you! On June 1, Marin Inc. issues 2.300 shares of no-par common stock at a cash price of $7 per share. Journalize the issuance of the...
-
A sample of 500 observations taken from the first population gave x1 = 305. Another sample of 600 observations taken from the second population gave x2 = 348. a. Find the point estimate of p1 p2. b....
-
What are the U.S. rules of accounting measurement called?
-
What body has the primary responsibility for establishing GAAP in the United States?
-
RollQuick Company produces lightweight wheelchairs for wheelchair athletes. The wheelchairs are produced in a cellular system. Three cells perform the manufacturing tasks. Cell 1 assembles the wheels...
-
If the majority voting control partners in an entity are close to retirement, they may prefer more equity issued versus debt. T/F The more stable the selling price is, the more likely the firm ...
-
Explain the following concepts/topics. 1. Arbitration Tribunials under CUSMA as opposed to International Arbitration under the WTO or ICSID: 2. Lost or Not Lost clauses under a Marine Insurance...
-
Northfield Manufacturing has two operating divisions in a semiautonomous organizational structure. Americas Division, based in the United States, produces a specialized memory chip that is an input...
-
T 174 6. Cs has a half-life of 30.8 s and the number of nuclei present is 3.787 1016 nuclei. 55' Determine: a. Number of nuclei present 2.6 minutes later b. The activity of 17 CS at the time in a. c....
-
The parallel sides of the trapezoidal lot measure 160 m and 240 m are 40 m apart Find the distance of the dividing line from the 160m line parallel to the 2 sides that will divide the trapezoid into...
-
Assume that you have recently been given a new marketing assignment by your firm. You are to head up development of a distribution plan for a new product line a series of do-ityourself instruction...
-
Banner Company acquires an 80% interest in Roller Company for $640,000 cash on January 1, 2013. The NCI has a fair value of $160,000. Any excess of cost over book value is attributed to goodwill. To...
-
Give the common name for each of the following organic halides. (a) CH3-I (b) CH3-CH-Br (c) CH3-CH-CH-F (d) (CH3)2 CH-Cl
-
What is a deposit in transit?
-
What is a certified check?
-
How is an NSF check accounted for in the accounting records?
-
Regarding research and experimental expenditures, which of the following are not qualified expenditures? 3 a. costs of ordinary testing of materials b. costs to develop a plant process c. costs of...
-
Port Ormond Carpet Company manufactures carpets. Fiber is placed in process in the Spinning Department, where it is spun into yarn. The output of the Spinning Department is transferred to the Tufting...
-
Oct. 31: Paid salaries, $45,000 ( 75% selling, 25% administrtive). Data table Data table them to retail stores. The company has three inventory items: and floor lamps. RLC uses a perpetual inventory...
Study smarter with the SolutionInn App