Monthly Archives: September 2012

GLOBAL ECONOMY AND ITS IMPACT ON FRAUD TRENDS

Posted by & filed under Fraud Accounting.

GLOBAL ECONOMY AND ITS IMPACT ON CURRENT FRAUD TRENDS Frauds in general continue to be on the rise at an alarming rate in direct correlation with both the domestic and global downturn in the economy. Those who might otherwise be predisposed to committing crime find themselves reaching states of desperation as a result of their… Read more »

MD&A (Management Discussion & Analysis)

Posted by & filed under Accounting Principles, Financial Accounting, Financial Statement Analysis, IFRS, MD&A.

MD&A (Management Discussion & Analysis) – Counterpart to or Distraction from Financial Reporting Introduction The MD&A  is an important component of a company’s reporting obligation. Intended to provide investors with more comprehensive information of financial outcomes, MD&A permits greater opportunity to present both short and long-term analysis. A study published by Contemporary Accounting Research indicated… Read more »

Going concern: When should the watchdog bark?

Posted by & filed under Accounting Principles, Advanced Accounting, Auditing, Financial Accounting, Financial Reporting and Analysis, IFRS.

International accounting standards definition of Going Concern: ‘a going concern … will continue in operation for the foreseeable future … [and] … has neither the intention nor the need to liquidate or curtail materially the scale of its operations’ The purposes of the going concern assessment: To determine whether the financial statements give a true… Read more »