1 - 1 1.prepare a written report on what challenges you...

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1 1.prepare a written report on what challenges you face and what strategies you will employ to strengthen financial reporting. Include the effect of environmental differences in your analysis. Review the materials at www.coso.org/default/htm to assist with the development of your report. Russian GAAP Unlike IFRS, no statement of recognized income and expense is required, and sometimes in practice consolidated financial statements to do not include a statement of cash flows. - There are recommended formats for the financial statements, which are generally followed. - Securities market registrants are required to present two years of comparatives instead of the usual one year. - An entity must present consolidated financial statements unless specific criteria are met. However, the specific criteria are different from those in IFRS. - Parent entity financial statements must be presented - All entities must have an annual balance sheet date of 31 December -
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This note was uploaded on 05/23/2011 for the course ACCT 842 taught by Professor Shekib during the Spring '11 term at Governors State University.

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1 - 1 1.prepare a written report on what challenges you...

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