International Finance and Accounting Handbook

guably not be “fooled” by the off-balance-sheet accounting, there is no substitute for getting the treatment right. (e) Pensions ...

tlement rates generally match the duration of the benefit obligation and are therefore long-term rates. However, these rates cha ...

taxes are the deferral method and the liability method. The objective of the deferral method is to match tax expense with pretax ...

diction. Of course, the temporary difference actually reverses in the buyer’s tax ju- risdiction when the buyer sells (or uses) ...

hensive income. Foreign currency gains and losses enter into the determination of comprehensive income, which reflects the premi ...

pooling for the purposes of the reconciliation to U.S. GAAP even though it may fail the U.S. pooling rules. The SEC’s expectatio ...

recently, the United States has issued SFAS No. 41, “Business Combinations,” which eliminates the pooling method and requires al ...

When an investor has a controlling voting interest in another enterprise, most countries’ standards require that the investee be ...

and be exposed to all of the residual risks. But in more subtle arrangements, some of the upside and downside (generally outside ...

value of the asset. Fair value is defined as the amount at which “an asset could be bought or sold in a current transaction betw ...

transfer of financial assets, diversity continues to exist. Two of the more commonly used models for derecognition of financial ...

1.Transferred assets have been isolated from the transferor. 2.Transferees have obtained the right to pledge or exchange either ...

plicit requirements for designation of derivatives as hedging instruments and require specific documentation before hedge accoun ...

12.8 OBSTACLES TO ACCOUNTING HARMONIZATION. There are many obsta- cles present in the global environment that make harmonization ...

million in 1993 after an undisclosed release of DM 1.5 billion in provisions to in- come. In its reconciliation to U.S. GAAP, th ...

ture of the SEC’s approach to enforcement since 1938 that it will object to financial statements prepared in accordance with acc ...

The issues and perceived obstacles associated with moving toward internationally accepted principles must be weighed against the ...

International Accounting Standards Committee. International Accounting Standards 1996. London: Authors, 1996. International Orga ...

...

13 • 1 CHAPTER 13 CORPORATE FINANCIAL DISCLOSURE: A GLOBAL ASSESSMENT* Carol A. Frost Global Capital Markets Access LLC Kurt P. ...