Impairment and revaluation are terms closely related to one another, with subtle differences. Revaluation and impairment both require the company to evaluate the assets for their fair value, and then take appropriate action in updating the accounting books. The major difference between the two...

In this work paper we intend to present an overview of the Securities and Exchange Commission (SEC) and the laws and regulations that a publicly held company must follow. The need for regulation has gone hand in hand with the offering of securities to the general public. The ability of companies...

During the past several years, the move toward a single set of high quality, globally accepted accounting standards has gained momentum. The survey focused on the existing and proposed IFRS guidelines and its anticipated 2016 IFRS adoption. The data collected supports a contention that the...

Phased calculation method applied by industrial enterprises with mass production as in the case of companies in the iron and steel industry, characterized by a simple technological process, conducted in successive stages of processing raw materials and materials from which finished product is...

Lack of regulation and general frameworks for reporting environmental information, determines auditors to avoid areas where their expertise can be useful. Because an environmental audit requires different types of skills, the most rational way of organizing this type of audit seems teamwork,...

The process of accounting is in charge with identifying, measuring and communicating economic information in order to allow its users to make the correct decisions and judgments. First of all, it is important to distinguish between the two branches of accounting: managerial accounting, which...

The present paper aims to highlight the dynamic nature of the balance sheet as a component of annual financial statements and the informational support offered by the indicators calculated for financial analysis. In the first part of the paper there are presented some theoretical issues about...

This paper makes a brief literature review on symptoms of bankruptcy and prediction models of bankruptcy risk. When it comes to bankruptcy we must start from the symptoms that lead to the financial failure of a company. Financial failure or bankruptcy of a company is an event that may cause...

Following the proposals about the new IFRS that would replace the existing standards on financial statement presentation in IFRSs, IAS 1 Presentation of Financial Statements and IAS 7 Statement of Cash Flows, we conduct an empirical study on the opinions regarding the format of the cash flow...

The cash flow of the company is an essential element for the application and development of a fluency activity where the payment terms are considered according to the agreement and contracts. Concerning the multinational companies, it is the finance controller’s task to perform a strict,...