Accounting firm Grant Thornton is leaving the Hawaiian market this summer after more than 50 years, and selling its practice to two of the firm’s audit partners from the Honolulu office. Several established Big Four firms have preceded Grant Thornton in this exodus, including PricewaterhouseCoopers, who left in 2006 after 55 years. Questions: 1. What… Read more »
Posts Categorized: International Accounting
The Costs and Benefits of Simultaneous Audits for Multinational Companies
Simultaneous audits mean two separate exams, conducted by different governments, in which those governments share with each other some of the taxpayer’s information. Even though you may not have heard of them, they have existed since the 1970s, but are becoming more common today as government tax agencies race to match the level of global… Read more »
What’s the Diagnosis – Accounting Fatigue Syndrome (AFS)?
At a recent conference in Orlando, financial executives discussed one of the top reasons for employee fatigue – a continuous stream of regulatory and accounting standard-setting guidance that has been issued in recent years and the promise of more to come over the foreseeable future. Questions: 1. Although the article provides little detail, what accounting… Read more »
The Effects of Converting to IFRS
The Effects of Converting to IFRS The primary question raised in this article is: “What effects would switching to IFRS have for companies, if forced to switch by the SEC?” Based on a panel of four executives from four major companies, most agreed that there will be almost no material effects in areas that investors… Read more »
Walking a Tight Wire in the Kraft – Cadbury Merger?
Kraft Foods, Inc. Chief Executive Officer, Irene Rosenfeld, is walking a tight wire in negotiations to buy Cadbury Plc. She is trying to please Cadbury investors, but is receiving criticism by Kraft investors, like Warren Buffet, who says the takeover is diminishing its merit by paying too much stock for the deal. The current cash-stock… Read more »
Politics in Accounting – Really?
A member of the International Accounting Standards Board, James Leisenring, told attendees at the Standard & Poor’s Accounting Hot Topics conference in New York on December 10, 2009, about possible abuses and accounting arbitrage that may result from IASB’s recently issued standard for recognizing and measuring financial instruments. In his remarks, he acknowledged that political… Read more »
Japan’s Big Accounting Move
During the week of December 7, 2009, Japan’s Financial Services Agency (FSA) announced that it is moving to the formal adoption of International Accounting Standard (IAS) reporting by 2015. Up until now, the FSA has allowed Japanese companies to file consolidated statements using U.S. GAAP, but in 2015 this may end. The agency will make… Read more »
Burnley Understanding Financial Accounting, 3rd Canadian Edition
Kimmel Financial Accounting, 8th Canadian Edition
Weygandt Accounting Principles, 9th Canadian Edition
Kimmel Survey of Accounting, 2nd Edition
Kieso Intermediate Accounting, 13th Canadian Edition
Weygandt Managerial Accounting, 6th Canadian Edition
Farmer Cost Accounting, 1st Edition
Savage Accounting Information Systems, 1st Edition