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I need a help on the below questions

1."IFRS system facilitates more than the other system in accounting especially for an International Organization" - Give your views.

2.At the time of winding-up of an International Organization. In what way the assets are evaluate in the contest of UK and US.

Answer
1."IFRS system facilitates more than the other system in accounting especially for an International Organization" - Give your views.

advantages of converting to IFRS

By adopting IFRS, a business can present its financial statements on the same basis as its foreign competitors, making comparisons easier. Furthermore, companies with subsidiaries in countries that require or permit IFRS may be able to use one accounting language company-wide. Companies also may need to convert to IFRS if they are a subsidiary of a foreign company that must use IFRS, or if they have a foreign investor that must use IFRS. Companies may also benefit by using IFRS if they wish to raise capital abroad.
As the business world becomes closer in its financial and trade ties, many countries are moving towards International Financial Reporting Standards (IFRS), common accounting rules that define how transactions should be reported and what information should be disclosed in financial statements. This unitary set of standards has solved many problems while creating others.
Greater Comparability
Companies that use the same standards to prepare their financial statements can be compared to each other more accurately. This is especially important when comparing companies located in different countries, as they might otherwise be using different rules and methodologies to prepare their statements. This increase in comparability has helped investors better determine where their investment dollars should go.
More Flexibility
IFRS uses a principles-based, rather than rules-based, philosophy. A principles-based philosophy means that the goal of each standard is to arrive at a reasonable valuation and that there are many ways to get there. This gives companies the freedom to adapt IFRS to their particular situation, which leads to more easily read and useful statements.
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2.At the time of winding-up of an International Organization. In what way the assets are evaluate in the contest of UK and US.

Asset valuations
Add up your assets, take away your liabilities, and you have the asset valuation. This method does not take account of future earnings.
1 Use asset valuation if you have a stable, asset rich business.
•   Property or manufacturing businesses are good examples.
2 The starting point for an asset valuation is the assets that are stated in the accounts.
•   This is known as the net book value (NBV) of the business.
3 You then refine the NBV figures for the major items, to reflect economic reality. For example:
•   Property or other fixed assets which have changed in value.
•   Old stock which would have to be sold at a discount.
•   Debts to the business that are clearly not going to be paid. Over-conservative provisions for bad debts.
•   Intangible items, such as software development costs, should usually be excluded.
4 Consider the future status of the business.
If a business is going to cease trading, it will lose value due to:
•   Assets being sold off cheaply. For example, equipment sold off at auction may only achieve a fraction of its book value.
•   Debt collection being more difficult
•   The cost of closing down premises.
•   Redundancy payments (if applicable).

Assets  evaluation during  winding  up  in  US

Asset valuation - Under this method, the value of assets of a company is determined by calculating the fair market value of the assets, the improvement cost of all the assets held under lease, and the value of inventory that includes finished goods, work-in-progress, and raw materials. It is ideal for valuating manufacturing businesses because their maximum investment is in assets such as machinery, equipment, power units, etc.  

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