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| Subject: Tax effect acc ERG owns 19.9%Card Etc AG (equity accounted once reaching 20%and over) | |
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Author: anonymous |
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Date Posted: 19:31:02 10/06/02 Sun In reply to: anonymous 's message, "31.2 M ERG owns 19.9%Card Etc AG (equity accounted once reaching 20%and over)" on 04:03:32 10/06/02 Sun America, what you have coming up in Australia---it has been delayed for a year---it could however still fall on the 0/2--to 0/3 financial year is tax effect accountancy which places more emphasis on the balance sheet---posted sometime back is a couple of pieces from Price Waterhouse Coopers on it---something to keep an eye on in the future if it comes in. ------------------------------------------------------------  ------------------------------------------------------------ Topic 5---1.2 and 1.3---Securities Institute of Oz. Assesing company performance. --------------------------------------------------------------------- Importance of accounting policies. --------------------------------------------------------------------- Accounting policies are based on accounting theories. As mentioned in parts of the preceeding topics, there can be more than one acceptable means of measuring and disclosing items in the financial accounts, eg in the four acceptable methods for valuing inventory in Australia--specific identification, weighted average, first in and first out, standard cost. Accounting standards describe acceptable alternatives, usually one or two , eg goodwill must be amortised using the straight line method over a maximum of twenty years. Accounting standards do not cover all issues. --------------------------------------------------------------------- Permitted alternative accounting policies may produce significantly different results. Financial statements are more useful if comparisons can be made with previous years ' performances and with the performances of similar entities within the same industry. To achieve comparability, it is desirable that the same accounting policies be applied consistently across theyears and between companies. ---------------------------------------------------------------------- Because alternative accounting policies can produce substantially different financial results, it is important to watch for changes. In the year of change, the nature of and the reason for the change must be reported. If the financial effect is significant it must also be reported. ------------------------------------------------------------ Where a change is due to the introduction of a new approved accounting standard or a pronouncement of the urgent issues group, the effect on the current years profit is included in the calculation of the profit. However any cumulative retrospective effect is adjusted against retained profits brought forward from the prior year. [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| Identify AssociatedERG owns 19.9%Card Etc AG (equity accounted once reaching 20%and over) | anonymous | 19:33:38 10/06/02 Sun |