Sgaap restatement overview step one of two the first

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Unformatted text preview: owever, there is no requirement to reconcile However, assets and liabilities. assets In essence, this represents a partial restatement this from foreign GAAP to U.S. GAAP. from Restating Foreign Financial Statements to U.S. GAAP Restating Foreign Financial Statements to U.S. GAAP Form 20­F Some ratios, such as return on equity, can be computed as if under U.S. GAAP. Most other ratios cannot be computed as if under U.S. GAAP. The analyst can overcome this by performing the restatement of financial statement items. Restating Foreign Financial Statements to Restating Foreign Financial Statements to U.S. GAAP Restatement overview – Step one of two The first step, reformatting, involves transforming the reformatting, financial statements into a U.S. format. financial One part of step one is transforming terminology One terminology differences. differences. Presentation differences are also transformed. Presentation are Item definitions and classifications are transformed. Restating Foreign Financial Statements to Restating Foreign Financial Statements to U.S. GAAP Restatement overv...
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This note was uploaded on 02/20/2014 for the course ACCTG 5140 taught by Professor Marleneplumlee during the Summer '13 term at University of Utah.

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