Title of extract: _____ Bank of England Holds Rate at Already Low Level __________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ Source of extract:__ http://www.nytimes.com/2013/09/06/business/global/bank-of-england-holds-rate-at-already-low-level.html?_r=0__(Date of access : October 4, 2013) _____________________________________________________________________________________________________________________________________________________ So recovering demand growth will result in a jobs-lite recovery rather than rapidly falling unemployment.” Nick Beecroft, chairman and senior market analyst at Saxo Capital Market, noted that the bank’s statement on Thursday made “no attempt to fight the market’s judgment that rates will be on the increase long before the bank’s doomed forward guidance would have us believe.” He predicted that “rates will be on the rise in late 2014.” The Organization for Economic Cooperation and Development said Tuesday that the economic outlook in countries like Britain, the United States and Japan had improved and that a “moderate recovery” was under way. Growth in Britain was “picking up more vigorously than expected,” and the euro area as a whole was no longer in recession, the O.E.C.D. said. According to one survey, the British manufacturing sector grew to the highest level in more than two years in August. Yet some economists worried that growth was bolstered only by stoking the British property market. Britain’s construction industry grew last month at the fastest pace in six years and faster than some economists had expected, according to Markit Economics and the Chartered Institute of Purchasing and Supply. Construction of residential homes was the best-performing section of the industry. In a separate survey, Markit said the British manufacturing sector grew to the highest level in more than two
COMMENTARY COVERSHEET Economics commentary number: HL Number 2 Title of extract: Bird flu seen as curb on inflation Source of extract: South China Morning Post Date of extract: 12th April, 2013 Word count: 823 Date the commentary was written: 17th April, 2013 Sections of the syllabus to which the commentary relates: chapter 6, 7, 10, 12 Candidate name: YenHusan (Michelle) Jen Candidate number: Commentary Number 2 Extract APRIL 12, 2013 Bird flu seen as curb on inflation CPI growth expected to…
BACKGROUND What is IAS ? POSITION For the developing countries, adopting the IAS has both benefits and limitations. Financial language Accountants Economic growth BENEFITS 1.ECONOMIC GROWTH Assure the useful and meaningfu l decisions Compare the financial results of companies and the decisions of investment Attract the investment through greater transparency ECONOMIC GROWTH THROUGH THE INTERNATIONAL TRADE Increase the rate of international trade economic growth Reduce the trade…
self- constructed tangible non-current assets under IAS 16 Property, plant and equipment and internally generated intangible non-current assets under IAS 38 Intangible Assets. For this assignment, the aim is to analyse the differences between the tangible non-current assets and intangible non-current assets. I will do this by demonstrating my understanding of the notion of the non-current assets under IAS 16 and IAS 38. Assets are economic resources owned or controlled by an entity as well…
Question: Explain the IAS and the IFRS. Presented By: Abigail P. Ebel ID: 2015050155 Lecturer: B. Ndiweni First written in 1973, International Accounting Standards (IAS) are issued by International Accounting Standard Board (IASB) since 2001, and its predecessor, International Accounting Standard Committee (IASC). IAS are a set of standards stating how particular types of transactions and other events should be reflected in the financial statements. IAS 1: Presentation…
adopted IAS. What development factors cause these features? APPUNTI DA FARE IAS compliant In 2001 first consolidated financial statement All mandatory requirements fulfilled IAS 12 and IAS 39 already fulfilled in 2000 financials Clear and fair view of net financial positions, asset classification in the book, earning indicators, etc. All in euro million Method used: accordance with cost of sales Disclosure of contingent assets and liabilities side Pre-consolidation assumptions ok…
ASB 3211: Advanced Accounting Theory & Practice Leases Annika Beelitz 9th February 2015 Contents of lecture • IAS 17 Leases • Assignment briefing Reading • Elliott & Elliott: Chapter 9 “Financial reporting – evolution of global standards” • Melville: Chapter 9 “Leases” IAS 17 Leases Learning outcomes Account for operating and finance leases entered into by a lessee in accordance with the requirements of International Accounting Standards. Acquisition of non-current assets Non-current assets…
1 Summary of key provisions of IAS & IFRS which may be relevant to ACCA financial reporting and audit papers for 2013 examinations Note – you may want to refer to your ACCA Paper F7 Financial Reporting and P2 Corporate Reporting study materials for further detailed information. Note – you should not rely upon this document for knowledge and understanding of all aspects of these reporting standards and other examinable documents; rather they should be used as an aid or as a prompt to your studies…
equipment. The IAS sets how businesses should measure their property plant and equipment that are held in the use of the production and/or supply of goods and services. The valuation of an asset can only be recognised if the asset can be measured reliably and is probable that future economic benefits will continue to flow to the entity. Measurement of assets is set on 2 models and depreciated in the similarly way on both. I have chosen the company royal Dutch shell to study my IAS and I will be determining…
assumptions In addition to the underlying accounting concepts there are Fundamental accounting concepts. These are also general rules about how certain transactions should be recorded. However they are enforced through IAS 1 (Revised) Presentation of financial statements. IAS 1 outlines certain assumptions (or rules) ‘general features’ that underpin the preparation and presentation of financial statements: * Going concern – Assumes that unless stated otherwise, the financial statements are…
recognize the importance of appropriate accounting treatment for R&D activities but take a different viewpoint on the method should be used. It’s clear that if future economic benefit gonna flow into the entity as the result of R&D activities. These cost should be classified as asset rather than expense. But whether future economic benefit are certain to flow into entity are impossible to predict. Thus the difference between GAAP and IFRS arise Slide 5: Talk about how US GAAP account for R&D cost…