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关键性和重大的会计政策 Critical and Significant Accounting Policies

时间:2018-05-03 09:46来源 作者:英国论文网 点击联系客服: 客服:Damien
After Enron's scandal, accounting world underwent dramatic changes. Lots of acts were proposed or released. On May 10, 2002, the Securities and Exchange Commission (which is SEC) proposed a document, that "Disclosure in Management's Discussion and Analysis about the Application of Critical Accounting Policies". One year later, SEC released final rule No.72, "Interpretation: Commission Guidance Regarding Management's Discussion and Analysis of Financial Condition and Results of Operations". First one introduces the framework for critical accounting policies; second one describes how to actually interpret critical accounting policies in the section off Management's Discussion and Analysis (MD&A). However, even till now, people are still in confusion of the differences between those accounting policies: critical accounting policies or estimates and significant accounting policies, a way to actually and precisely disclose these two.
In a more efficient way, I will go through the definition of these two accounting policies first. After that, I will introduce the intent of these two, why we use them. The last but not least, I will use a 10-K form from Apple Inc. to make an example, how we present their contents and formats appropriately.
Definitions 定义
In the accounting standard codification, Financial Accounting Standards Board (which is FASB) has a definition to significant accounting policies, which is "Accounting principles and methods are judged by the appropriate circumstances to present fairly financial position, according to GAAP make financial statement." (Codification, 235-10-05-3) This is very general presentation of financial statement.
While, in contrast to significant accounting policies, the critical accounting policies and estimates are defined by SEC, which is "Critical accounting built on assumption about uncertain matters, including period and affect Company's financial condition" (SEC, 2002).(责任编辑:cinq)

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